The Non Resident External (NRE) Account is a savings account held in India, in Indian rupees. The Principal and the interest in an NRE account is fully repatriable. Interest income is exempt from Indian Income Taxes.

The NRE Account offers the dual benefit of maintaining an account in Indian Rupees and then converting the funds into a foreign currency at the time of repatriation.

You can fund by sending us – New York office, a check. For details please visit www.statebank.com/remittance.htm In addition to checks, you can also effect the remittance thru an ACH authorization, charge to your debit/credit card or vide a wire transfer to SBI New York. The charges are as follows: Our India office offers an online remittance service – SBI Express Remit – to India. For details visit www.onlinesbi.com/gls.

Balances held in NRE accounts can be repatriated abroad freely, whereas funds in NRO account cannot be remitted abroad but used only for local payments in rupees. Consequently, funds remitted from abroad or local funds which can otherwise be remitted abroad to the account holder can only be credited to NRE accounts. Funds which do not qualify, under the Exchange Control regulations, for remittance outside India are required to be credited to NRO accounts.

Yes.You can send money to any NRE account in India. If you have an account with any of Times of India Remit2India's partner banks for NRE accounts, money is directly credited into your account. Alternatively, a locally payable demand draft is sent to the bank where you have your NRE account.

No, you cannot purchase mutual fund units from the PINS account. You can only do so in the Non-Pins account.

Yes. except for the purpose of relending, carrying on agricultural/plantation activities or for investment in real estate business. Loans against NRE fixed deposits can, however, be utilised for investments in India on non-repatriation basis, in certain specified areas and for acquisition of flats/houses subject to prescribed conditions.

Yes. Authorised dealers can permit transfer of funds from the NRE account of one person to the NRE account of another person for bona fide personal purposes. Transfers by way of gifts are permitted subject to payment of gift tax. Remittances made for credit to rupee accounts (i.e. NRE/NRO/NRNR accounts) maintained by NRIs are converted at market rate. Yes, NRI and other non-residents can maintain NRO rupee accounts as well as keep deposits with banks in India under NRNR Rupee Deposit Scheme.

A Debit card is valid globally and can be used to withdraw funds from your NRE savings account. NRO Account holders receive only an ATM card, as per RBI regulations.

Yes.You can send money to any NRE account in India. A locally payable demand draft is sent to the bank where you have your NRE account.

Quickremit - Our completely online remittance service that enables you to remit funds to a beneficiary in India from the US, UK and Singapore. IndiaLink - A fast and efficient way to send remittances to India through Exchange Houses in the Gulf. Telegraphic transfer - SWIFT money transfers into your account from any of our correspondent banks overseas.

Yes, you will be issued a globally valid VISA Electron Debit Card that gives you access to funds across the globe and the convenience to shop at over 10,000,000 outlets worldwide.

Interest earned on the account is not subject to tax deduction at source Interest earned on the account is not subject to tax deduction at source

Yes, you can authorize a close relative (father, mother, brother, sister or wife) to operate your NRE SB account (only your NRE SB account and not any other type of 'NRI account'). The Letter of Authority form will have to be signed by you and the relative before it is handed over to the branch in India. You can ask the branch to hand over the ATM card linked to the NRE account to this relative.

You can by asking your branch in India to provide you with an International ATM cum Debit card. If you do not have one then you may send the Application form for International ATM cum Debit card to the branch in India. You will have to approach the branch in India for assistance. You may also email inb.branch@sbi.co.in for help. You will have to approach the branch in India for assistance. You may also email inb.branch@sbi.co.in for help.