NRI Services > NRI Deposits > Features of NRI deposits > NRE And NRO features in tabular form
NRE And NRO features in tabular form
Union Bank of India offers three account options viz. the Foreign Currency (Non-Resident) Account (Banks) Scheme (FCNR(B) Account), the Non-Resident (External) Rupee Account Scheme (NRE Account), and the Non-Resident Ordinary Rupee Account Scheme (NRO Account). These accounts cater the needs of NRIs/PIOs/OCIs. Explore our website to discover more about the features, benefits, repatriability, and taxation aspects of each account, empowering you to make informed decisions for your financial needs.
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NRE Accounts |
NRO Accounts |
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NRIs/PIOs & OCI cardholders are eligible to open NRE Accounts |
NRIs/PIOs & OCI cardholders are eligible to open NRE Accounts. Foreign students residing in India for the purpose of studying, Foreign tourists on short visit are also eligible to open NRO Accounts. Citizens of Pakistan and Bangladesh need prior permission of RBI to open accounts in India. |
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For depositing your foreign earned income in India |
For depositing your domestic earnings in India |
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Free from Indian Income Tax |
Taxes applicable |
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Deposits and interest freely repatriable |
Funds not freely repatriable. Repatriable upto USD 1 Million per financial year (subject to certain terms and conditions set by regulator) |