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FAQs for NRE Current Account |
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In what currency can my NRE Current Account be maintained?
Your NRE Current Account is maintained in Indian Rupees.
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What is the minimum amount with which I can open an NRE Current Account?
The minimum amount required to open an NRE Current Account is INR 10,000 or its equivalent in foreign currency. You would be required to maintain an Average Quarterly Balance of
INR 25,000/- only.
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What is the frequency of interest payment on my NRE Current Account?
The frequency of interest payment on your NRE Current Account is Quarterly.
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What do I get against my NRE Current Account?
You will get a chequebook and an International Debit Card against your NRE Current Account.
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Can I repatriate funds in my NRE Current Account?
Yes. The Principal and interest earned on NRE Current Account are fully repatriable.
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What taxes am I liable to pay if I have an NRE Current Account?
As per current guidelines, funds in NRE Current Account are exempted from income tax in India.
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Can I transfer funds between NRE Current Accounts?
Yes. Transfer of funds from NRE Current Accounts is allowed for bonafide personal purposes such as personal expenses, education of children, and gifts
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If I am visiting India, can I use Travellers Cheques or Foreign Currency to open an account or credit my existing NRE Current Account?
Travellers Cheques can be used to credit/open the account. NRIs bringing Foreign Currency Notes & Travellers Cheques will have to submit a Currency Declaration Form (CDF) to the customs authorities on arrival in India, if the foreign currency notes exceed USD 5,000/- or combined value of Travellers Cheques and notes exceed USD 10,000/-. You must produce the CDF for endorsement by the bank when you submit the money for opening/credit to an Account
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Can I appoint a mandate holder for my NRE Current Account?
Yes. You can appoint a mandate holder for NRE Current Account. You can also choose to provide the mandate holder with an ATM Card.
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How can I send a remittance for credit of funds in my NRE Current Account?
Please click here to know more about remittances to your NRE Current Account in India.
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What are the Payment Services available for my NRE Current Account?
With HDFC Bank's Payment Services, you can bid goodbye to queues and paper work. Our range of payment options makes it easy for you to pay for a variety of utilities and services. Please click here to know more about Payment Services.
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How do I access my NRE Current Account while I am abroad?
You can access your NRE Current account through NetBanking & PhoneBanking. Please click here to know more.
Net Banking
PhoneBanking
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