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.

Yes. Transfer of funds from NRE Accounts maintained by two different persons may be allowed for bonafide personal purposes such as personal expenses, education of children, and gifts.

Yes, you can use our Transfer Funds function to transfer money to an account which is maintained at another bank (The money can be transferred to other banks within or outside Malaysia. You can choose to remit the money via Bank Draft (Cashier's Order or Demand Draft), Telegraphic Transfers or Interbank Giro).

Three types of rupee accounts Viz. Non-resident (External) Rupee Accounts (NRE account), Ordinary Non- resident Rupee Account (NRO accounts ) and Non-resident (Non-repatriable) Rupee Deposit accounts (NRNR) are permitted to be maintained. Authorised dealers have been permitted to credit the proceeds of foreign currency notes/travellers cheques brought by the account holder from abroad during his visit to India provided they are tendered in person.

NRO accounts can be held jointly with residents, However, NRE accounts cannot be held jointly with residents.

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.

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.

No. FCNR Accounts can be maintained only in the form of "term deposit" i.e. a deposit kept for a fixed period or which is subject to withdrawal or repayment after notice.

NO. FCNR accounts can be maintained only in the form of term deposits,l i.e. a deepest kept for fixed period ranging from 6 months to 3 years.

Sure, just stop into one of the offices and sign the setup form. We ask that all parties involved be joint on these accounts and sign this form. Please give the Data Department a day or two to update your status.

Yes, through the Nigerian Interbank Settlement System (NIBSS), fast fund as well as NIBBS Electronic Funds Transfer( NEFT)