NRE Rupee Account

• It can be maintained as current, savings, and recurring or fixed deposit accounts
• Your loved ones can access your account using POA, Mandate and LOA subject to guidelines in force.
• Full repatriation of principal amount and interest accrued.
• Exemption from Income tax, wealth tax etc as per the prevailing directions
• Rate of interest applicable shall be in accordance with the directions/instructions issued by RBI from time to time.
• Nomination facility available

• It can be maintained as current, savings, and recurring or fixed deposit accounts
• All bonafide local funds can be credited to the account
• Allows you to hold your earnings like rent, dividend etc. in India
• Account can be opened jointly with resident Indian
• Interest received is subject to income tax presently and shall be as per the prevailing directions
• Balance in the account upto USD 1 million per financial year can be repatriated subject to payment of taxes 

• Maintain funds as Term Deposit in designated currencies
• Principal and interest accrued are fully exempted from income tax, wealth tax etc.
• Full repatriation of principal and interest accrued
• Choice of tenure from 1 year to 5 year
• Loan facilities up to Rs. 20.00 Lacs
• Affords protection against fluctuation in exchange rate
• Nomination facility available
• Rate of interest applicable shall be in accordance with the directions/instructions issued by RBI from time to time.

 Resident Foreign Currency Account (RFC)

• The account can be maintained in the form of SB/Term Deposits
• Facility for Returning Indians.
• The account can be opened jointly with another person eligible to open RFC account.
• Proceeds of assets held outside India at the time of return, can be credited to this account.
• Pension received abroad can be credited to the account.
• Currency notes/TCs brought into India at the time of returning to India can be credited to the account. 
• The funds held in RFC are free from all restrictions regarding utilization for bonafide /genuine purposes.
• The funds held in this account can also be utilized for local payments. 
• No loan/overdraft facility will be allowed against balance held in RFC accounts.
• The account can be converted into NRE/FCNR if the account holder goes abroad again and attains Non Resident status.