Unsure of where to park the proceeds, he learned about NRE FDs. Raj recently inherited a property in India, which he sold. Let's take the example of Raj, an NRI residing in the USA. The primary allure of this financial instrument is that the interest earned is tax-free in India, and the principal and interest are fully repatriable, meaning they can be transferred back to the account holder's country of residence. ![]() ![]() ![]() However, the Indian banking system offers a solution that not only helps NRIs manage their earnings but also provides attractive returns: the NRE (Non-Resident External) Fixed Deposit.Īn NRE Fixed Deposit is a type of term deposit account that can be opened by an NRI or a Person of Indian Origin (PIO) with funds remitted to India through a legitimate banking channel. For many Non-Resident Indians (NRIs), managing finances in their homeland while residing overseas can be a challenge.
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