NRE (Non-Resident External) Account FAQs

Yes. Banks allow the NRE deposits to continue till maturity at the contracted rate of interest, for the NRIs/PIOs, who return to India for permanent settlement.
Presently, banks are not allowed to grant fresh loans or renewing existing loans in excess of Rs 1 Crore (Rs.100 Lacs) against NRE deposits.
Yes. Banks allow premature withdrawal from NRE Fixed Deposit Account but usually with penalty.
Yes. DEBIT Card facility is available for NRE account holders on request by the account holder.
Yes. For this purpose, all the joint holders should submit a request.
No. He canít open an NRE account but an NRO (current/ savings) account can be opened by a foreign national of non-Indian origin visiting India, with funds remitted from outside India through banking channel or by sale of foreign exchange brought by him to India.
Yes. However, these operations are restricted to withdrawals for local payments.
Loans against NRE fixed deposits are granted for investments in India on non-repatriable basis, in certain specified areas and for acquisition of flats/houses subject to prescribed conditions. The loan cannot be given for the purpose of re-lending, for investment in business of real estate, carrying on agricultural / plantation activities, acquisition of commercial property etc.
NRE accounts can be converted to resident accounts or the balances held in NRE account can be transferred to RFC accounts at the option of the account holder.
No. A resident Power of Attorney holder cannot open or close an NRE account on behalf of a NRI.
The Permissible Debits to NRE accounts are:
  1. Local payments.
  2. Remittances abroad.
  3. Transfer to NRE/FCNR (B) accounts of the same account holder.
  4. Transfer to NRE account of person other than the account holder subject to conditions.
  5. Investment in shares/securities /commercial paper of an Indian company or for purchase of immovable property in India provided such investment/purchase is covered by the regulations made or the general/special permission granted by the Reserve Bank of India.
  6. Any other transaction if covered under general or special permission granted by the Reserve Bank of India.
Yes. NRI account can be opened with zero balance by a person who is moving abroad for taking up an employment, business, vocation etc. Initially, he is required to complete the account opening formalities before going abroad with depositing any amount in his account. However, he needs to remit funds within a reasonable time to make the account operative.

Upcoming Bank Holidays

2018 May 29 is a bank holiday in Sikkim due to Saga Dawa.
2018 June 08 is a bank holiday in Jammu And Kashmir due to Jumat-ul-Veda.
2018 June 11 is a bank holiday in Jammu And Kashmir due to Shab-I-Qadr.
2018 June 15 is a bank holiday in Jammu And Kashmir due to Id-ul-Fitr (Ramzan)/Raja Sankranti/Y.M.A Day.
2018 June 16 is a bank holiday in Andaman And Nicobar Island due to Ramzan Id (Id-ul-Fitr)/Maharana Pratap Jayanti.
2018 June 30 is a bank holiday in Mizoram due to Remna Ni.

Financial Calculators

Banks Loan Service

Search IFSC/MICR/ATM

 

 

 

ALL INDIA BANKS LIST
A B BANK LIMITED ABN-AMRO Bank N.V ABU DHABI COMMERCIAL BANK AIRTEL PAYMENTS BANK LIMITED
ALLAHABAD BANK American Express Banking Corp ANDHRA BANK Antwerp Diamond Bank NV
AU SMALL FINANCE BANK LIMITED AXIS BANK B N P PARIBAS BANDHAN BANK LIMITED
BANK OF AMERICA BANK OF BAHARAIN AND KUWAIT BSC BANK OF BARODA BANK OF CEYLON
BANK OF INDIA BANK OF MAHARASHTRA BANK OF TOKYO MITSUBISHI LIMITED BARCLAYS BANK
BHARATIYA MAHILA BANK LIMITED Calyon Bank CANARA BANK CAPITAL SMALL FINANCE BANK LIMITED
CATHOLIC SYRIAN BANK LIMITED CENTRAL BANK OF INDIA CHINATRUST COMMERCIAL BANK LIMITED CITI BANK
CITY UNION BANK LIMITED CORPORATION BANK DBS Bank Ltd DCB BANK LIMITED
DENA BANK DEUSTCHE BANK DHANALAKSHMI BANK EQUITAS SMALL FINANCE BANK LIMITED
ESAF SMALL FINANCE BANK LIMITED EXPORT IMPORT BANK OF INDIA FEDERAL BANK FINCARE SMALL FINANCE BANK LTD
HDFC BANK HSBC BANK HSBC BANK OMAN SAOG ICICI BANK LIMITED
IDBI BANK IDFC BANK LIMITED INDIAN BANK INDIAN OVERSEAS BANK
INDUSIND BANK JAMMU AND KASHMIR BANK LIMITED JP MORGAN BANK JSC VTB BANK
KARNATAKA BANK LIMITED KARUR VYSYA BANK KOTAK MAHINDRA BANK LIMITED Krung Thai Bank Public Co. Ltd
LAXMI VILAS BANK MASHREQBANK PSC MIZUHO CORPORATE BANK LIMITED NORTH EAST SMALL FINANCE BANK LIMITED
OMAN INTERNATIONAL BANK SAOG ORIENTAL BANK OF COMMERCE PUNJAB AND SIND BANK PUNJAB NATIONAL BANK
RBL Bank Limited SBM BANK MAURITIUS LIMITED SHINHAN BANK SOCIETE GENERALE
SONALI BANK LTD SOUTH INDIAN BANK STANDARD CHARTERED BANK STATE BANK OF BIKANER AND JAIPUR
STATE BANK OF HYDERABAD STATE BANK OF INDIA STATE BANK OF MYSORE STATE BANK OF PATIALA
STATE BANK OF TRAVANCORE SURYODAY SMALL FINANCE BANK SYNDICATE BANK TAMILNAD MERCANTILE BANK LIMITED
THE BANK OF NOVA SCOTIA THE NAINITAL BANK LIMITED UBS AG UCO Bank
Ujjivan Small Finance Bank Limited UNION BANK OF INDIA UNITED BANK OF INDIA UNITED OVERSEAS BANK LIMITED
UTKARSH SMALL FINANCE BANK VIJAYA BANK Woori Bank YES BANK
ZILA SAHAKARI BANK LTD