The Ultimate Rupee Account for NRIs.
Park your foreign income in India with full tax exemptions and the freedom to move your money back whenever you need it.
The Bharat Bank NRE Accountis a Rupee-denominated account specifically designed for Non-Resident Indians (NRIs) and Overseas Citizen of India (OCI). It allows you to remit your foreign earnings into India and maintain them in Indian Rupees (INR). This account is the most popular choice for NRIs because the interest earned is completely Tax-Freein India, and both the principal and interest are Fully Repatriable(transferable) back to your country of residence without any limit.
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Free Insurance
Life & Accident Cover
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Digital Services
Mobile Banking, UPI
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Debit Card
Rupay Classic, Platinum
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Personal Service
People-centric Banking
* NRE Savings Account interest rate ā 2.75% p.a
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Tax-Free Status:Interest earned on NRE Savings and Term Deposits is exempt from Indian Income Tax under Section 10(4)(ii).
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Full Repatriability:You can freely transfer the entire balance (principal + interest) back to your overseas account without any RBI restrictions.
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Joint Holding:Can be opened jointly with another NRI (on an 'Either or Survivor' basis) or with a Resident Indian relative (on a 'Former or Survivor' basis).
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Loan Facility:You can avail of loans or overdrafts against your NRE Fixed Deposits for personal or business needs in India.
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Non-Resident Indians (NRIs):Indian citizens staying abroad for employment, business, or vocation.
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OCI Cardholders:Foreign citizens (excluding Pakistan and Bangladesh) who at any time held an Indian passport or whose parents/grandparents were citizens of India.
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Students: Indians studying abroad are also eligible for NRE accounts.
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Identity Proof:Copy of valid Passport (showing identity and address details).
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Status Proof:Valid Visa (Work/Residence/Student) or Work Permit.
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Address Proof:Overseas address proof (Utility bills, bank statements, or rent receipt) and Indian address proof (if any).
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Photographs:Recent passport-size photographs.
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FATCA/CRS Declaration:Mandatory for tax compliance based on your country of residence.
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Can I deposit Indian currency (INR) in my NRE account?
No. Only foreign currency remittances from abroad or transfers from other NRE/FCNR accounts are permitted. Local Indian income (like rent) must be credited to an NRO Account. -
What happens to my NRE account when I return to India permanently?
Upon your return to India for permanent settlement, the NRE account must be redesignated as a Resident AccountĀ -
Is there an additional interest rate for Senior Citizens?
No, as per RBI guidelines, additional interest rates for Senior Citizens are typically not applicable to NRE deposits.
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Particulars |
Charges |
|---|---|
|
Minimum BalanceĀ |
ā¢ In Metro cities: ā¹1,000/- ā¢ In Non-Metro cities: ā¹500/- |
|
Non-Maintenance of Minimum balance |
10% of Shortfall amount, subject to Minimum-Rs.10Ā andĀ Ā Ā Ā Ā Ā Ā Ā Ā Ā Ā Ā Ā Ā Ā Ā Ā Ā Ā Ā Ā Ā Ā Ā Ā Ā Ā Ā Ā Maximum-Rs.100 |
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Cheque Book Charges |
NIL for first cheque book of 10 leaves, thereafter ā¹4/- per leaf Ā |
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Duplicate Statement/Passbook |
ā¹50 per book/per page of statement . |
|
Account Closing Charges |
NIL if closed within 30 days; ā¹100 if closed after 30 days but within 1 year.Ā |
(Exclusive of GST)
* NRE Savings Account interest rate ā 2.75% p.a
-
Tax-Free Status:Interest earned on NRE Savings and Term Deposits is exempt from Indian Income Tax under Section 10(4)(ii).
-
Full Repatriability:You can freely transfer the entire balance (principal + interest) back to your overseas account without any RBI restrictions.
-
Joint Holding:Can be opened jointly with another NRI (on an 'Either or Survivor' basis) or with a Resident Indian relative (on a 'Former or Survivor' basis).
-
Loan Facility:You can avail of loans or overdrafts against your NRE Fixed Deposits for personal or business needs in India.
-
Non-Resident Indians (NRIs):Indian citizens staying abroad for employment, business, or vocation.
-
OCI Cardholders:Foreign citizens (excluding Pakistan and Bangladesh) who at any time held an Indian passport or whose parents/grandparents were citizens of India.
-
Students: Indians studying abroad are also eligible for NRE accounts.
-
Identity Proof:Copy of valid Passport (showing identity and address details).
-
Status Proof:Valid Visa (Work/Residence/Student) or Work Permit.
-
Address Proof:Overseas address proof (Utility bills, bank statements, or rent receipt) and Indian address proof (if any).
-
Photographs:Recent passport-size photographs.
-
FATCA/CRS Declaration:Mandatory for tax compliance based on your country of residence.
-
Can I deposit Indian currency (INR) in my NRE account?
No. Only foreign currency remittances from abroad or transfers from other NRE/FCNR accounts are permitted. Local Indian income (like rent) must be credited to an NRO Account. -
What happens to my NRE account when I return to India permanently?
Upon your return to India for permanent settlement, the NRE account must be redesignated as a Resident AccountĀ -
Is there an additional interest rate for Senior Citizens?
No, as per RBI guidelines, additional interest rates for Senior Citizens are typically not applicable to NRE deposits.
|
Particulars |
Charges |
|---|---|
|
Minimum BalanceĀ |
ā¢ In Metro cities: ā¹1,000/- ā¢ In Non-Metro cities: ā¹500/- |
|
Non-Maintenance of Minimum balance |
10% of Shortfall amount, subject to Minimum-Rs.10Ā andĀ Ā Ā Ā Ā Ā Ā Ā Ā Ā Ā Ā Ā Ā Ā Ā Ā Ā Ā Ā Ā Ā Ā Ā Ā Ā Ā Ā Ā Maximum-Rs.100 |
|
Cheque Book Charges |
NIL for first cheque book of 10 leaves, thereafter ā¹4/- per leaf Ā |
|
Duplicate Statement/Passbook |
ā¹50 per book/per page of statement . |
|
Account Closing Charges |
NIL if closed within 30 days; ā¹100 if closed after 30 days but within 1 year.Ā |
(Exclusive of GST)