Interactive NRI Account Comparator
Select an account type to view official tax rules, repatriation limits, and FEMA compliance mandates.
Non-Resident External (NRE) Account
Transferring overseas earnings to India tax-free while maintaining full liquidity.
- Taxability in India: 100% Tax-Exempt in India (Principal & Interest)
- Repatriation Abroad: Freely & Fully Repatriable abroad without any USD limit
- Currency Maintenance: Maintained in Indian Rupees (INR)
- Joint Ownership Rules: Can be held jointly with another NRI or a Resident Indian relative (on former-or-survivor basis)
Master NRI Account Comparison Matrix
| Feature | NRE Account | NRO Account | FCNR(B) Deposit |
|---|---|---|---|
| Income Source Allowed | Foreign income only (USD, EUR, GBP, AED) | Indian income (Rent, Dividend, Property sale) + Foreign | Foreign income only |
| Indian Taxability | 100% Tax-Free | Taxable at 30% + Cess | 100% Tax-Free |
| Repatriability | Unrestricted (100% freely transferable) | Up to USD 1,000,000 per financial year | Unrestricted (in Foreign Currency) |
| Fx Rate Risk | Exposed to Rupee fluctuation | Exposed to Rupee fluctuation | Zero Fx Risk (Held in USD/GBP/EUR) |
Repatriating Funds from NRO to Overseas Bank
Under RBI FEMA Master Directions, NRIs can repatriate up to USD 1 Million per financial year from their NRO accounts representing legitimate Indian income or property sale proceeds.
Mandatory Repatriation Documents
- Form 15CA: Online declaration generated by the taxpayer on the e-filing portal.
- Form 15CB: Certificate issued and digitally signed by an active Indian Chartered Accountant certifying tax payment.
- Bank A2 Form: FEMA application form submitted to the Authorized Dealer (AD Category I Bank).
Frequently Asked Questions
An NRE account is meant for transferring foreign earnings into India and is 100% tax-free with full foreign repatriation. An NRO account is used to manage income originating within India (such as rent, dividends, or property sale proceeds), and interest earned is subject to 30% TDS unless DTAA relief is claimed.
Yes. Under the RBI Liberalised Remittance Scheme (LRS) and FEMA regulations, NRIs can repatriate up to USD 1,000,000 (1 Million US Dollars) per financial year from their NRO account balances, subject to submitting Form 15CA and a Chartered Accountant certificate (Form 15CB).
Under Section 63 of FEMA, maintaining a resident savings account after acquiring NRI status is illegal. NRIs are statutorily required to convert existing resident accounts into NRO accounts or close them immediately.