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* All details updated as on Aug 01, 2018

Yes Bank

Interest Rate
6.00%
Average Balance
Rs 10,000 /
Application
Branches
Details
+ Free international debit cum ATM card and a cheque book
+ 6% interest rate for balance over INR 100,000 and 5% for balance upto INR 100,000
Provider
Interest Rate
Average Balance
Application
Details
Provider
Yes Bank
0 reviews
Interest Rate
6.00%
Average Balance
Rs 10,000 /
Application
Branches
Details
+ Free international debit cum ATM card and a cheque book
+ 6% interest rate for balance over INR 100,000 and 5% for balance upto INR 100,000
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Complete Results

Yes Bank

Interest Rate
6.00%
Average Balance
Rs 10,000 / Quarterly
Application
Branches
Details
+ Free international debit cum ATM card and a cheque book
+ 6% interest rate for balance over INR 100,000 and 5% for balance upto INR 100,000

Kotak Mahindra Bank

Interest Rate
4.00%
Average Balance
Rs 10,000 / Quarterly
Application
Post
Branches
Details
+ Free international debit cum ATM card and a cheque book
+ Anywhere Banking

ICICI Bank

Interest Rate
3.50%
Average Balance
Rs 15,000 / Quarterly
Application
Post
Branches
Details
+ Free international debit cum ATM card and a cheque book

HDFC Bank

Interest Rate
3.50%
Average Balance
Rs 10,000 / Quarterly
Application
Post
Branches
Details
+ Free international debit cum ATM card and a cheque book

HSBC Bank

Interest Rate
3.50%
Average Balance
Rs 75,000 / Monthly
Application
Branches
Details
+ Free international debit cum ATM card and a cheque book
Interest Rate
3.50%
Average Balance
Rs 3,000 / Half yearly
Application
Post
Branches
Details
+ Free international debit cum ATM card and a cheque book

Citi Bank

Interest Rate
3.50%
Average Balance
Rs 40,000 / Monthly
Application
Post
Branches
Details
Rupee Checking Account (Monthly average balance of Rs 40,000)
+ Free international debit cum ATM card and a cheque book
- Minimum account opening deposit of USD 5000

Preferred Rupee Checking Account (Monthly average balance of Rs 200,000)
+ Free international debit cum ATM card and a cheque book
+ Exclusive privileges on Gifting, Travel and Entertainment
+ Exclusive lifestyle, travel and dining privileges with the MasterCard Platinum ATM / Debit Card
+ Waiver of charges on duplicate statement

Axis Bank

Interest Rate
3.50%
Average Balance
Rs 10,000 / Quarterly
Application
Post
Branches
Details
Basic Savings Account
+ Free international debit cum ATM card and a cheque book

Prime Savings Account:
+ Free international debit cum ATM card with Rs 50,000 daily withdrawl limit and a cheque book
+ Anywhere banking
+ Free add-on, zero balance domestic savings account for your friend or relative in India
+ Unlimited Free DD/PO on Axis Bank centers (for personal purposes)
- Average Quarterly Balance of Rs 25000

Standard Chartered

Interest Rate
3.50%
Average Balance
Rs 25,000 / Quarterly
Application
Post
Branches
Details
+ Free international debit cum ATM card and a cheque book
+ Anywhere Banking
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Provider
Interest Rate
Average Balance
Application
Details
Provider
Yes Bank
7 reviews
Interest Rate
6.00%
Average Balance
Rs 10,000 / Quarterly
Application
Branches
Details
+ Free international debit cum ATM card and a cheque book
+ 6% interest rate for balance over INR 100,000 and 5% for balance upto INR 100,000
 
Provider
Kotak Mahindra Bank
0 reviews
Interest Rate
4.00%
Average Balance
Rs 10,000 / Quarterly
Application
Post
Branches
Details
+ Free international debit cum ATM card and a cheque book
+ Anywhere Banking
 
Provider
ICICI Bank
25 reviews
Interest Rate
3.50%
Average Balance
Rs 15,000 / Quarterly
Application
Post
Branches
Details
+ Free international debit cum ATM card and a cheque book
 
Provider
HDFC Bank
5 reviews
Interest Rate
3.50%
Average Balance
Rs 10,000 / Quarterly
Application
Post
Branches
Details
+ Free international debit cum ATM card and a cheque book
 
Provider
HSBC Bank
1 reviews
Interest Rate
3.50%
Average Balance
Rs 75,000 / Monthly
Application
Branches
Details
+ Free international debit cum ATM card and a cheque book
 
Provider
Interest Rate
3.50%
Average Balance
Rs 3,000 / Half yearly
Application
Post
Branches
Details
+ Free international debit cum ATM card and a cheque book
 
Provider
Citi Bank
0 reviews
Interest Rate
3.50%
Average Balance
Rs 40,000 / Monthly
Application
Post
Branches
Details
Rupee Checking Account (Monthly average balance of Rs 40,000)
+ Free international debit cum ATM card and a cheque book
- Minimum account opening deposit of USD 5000

Preferred Rupee Checking Account (Monthly average balance of Rs 200,000)
+ Free international debit cum ATM card and a cheque book
+ Exclusive privileges on Gifting, Travel and Entertainment
+ Exclusive lifestyle, travel and dining privileges with the MasterCard Platinum ATM / Debit Card
+ Waiver of charges on duplicate statement
 
Provider
Axis Bank
7 reviews
Interest Rate
3.50%
Average Balance
Rs 10,000 / Quarterly
Application
Post
Branches
Details
Basic Savings Account
+ Free international debit cum ATM card and a cheque book

Prime Savings Account:
+ Free international debit cum ATM card with Rs 50,000 daily withdrawl limit and a cheque book
+ Anywhere banking
+ Free add-on, zero balance domestic savings account for your friend or relative in India
+ Unlimited Free DD/PO on Axis Bank centers (for personal purposes)
- Average Quarterly Balance of Rs 25000
 
Provider
Standard Chartered
0 reviews
Interest Rate
3.50%
Average Balance
Rs 25,000 / Quarterly
Application
Post
Branches
Details
+ Free international debit cum ATM card and a cheque book
+ Anywhere Banking
* All details updated as on Aug 01, 2018
This site is for informational purposes only. Nothing on this site should be construed as advice. When you click on "Go to Site" button, you will be directed to the provider's website where you need to register for the service. We may get paid if you use services from providers listed here. The providers are included based on their rates, service charges, turnaround time and reviews.

NRO Savings FAQs

What is a NRE savings bank account?

The Non-Resident External Account (NRE Account) is a Savings/Current/fixed deposit account held in India, in Indian Rupees. The foreign currency earnings can be deposited into the NRE savings account by transfers from your country of residence or transfers from other NRE accounts in India. To deposit money into an NRE account, you need to convert foreign currency into Indian Rupees (USD to INR, GBP to INR, CAD to INR, AUD to INR, etc) by transferring money to your NRE account in India. You can open either NRE Savings or NRE current or NRE fixed deposit in India. To open NRE fixed deposit, you need to first transfer money to your NRE savings account and then give a request to your bank in India to open an NRE fixed deposit. You can always convert the money lying in your NRE account (NRE savings account or NRE fixed deposit) back to foreign currency and repatriate the sum out of India, since both principal and interest earned in this NRE account (NRE savings account or NRE fixed deposit) are freely repatriable.

 

Compare at NriDealExpert.com to find out the best NRE saving accounts in India.

How can I open an NRE savings bank account in India?

Compare at nriDealExpert.com to find out the best NRE Saving Accounts in India. Click on the link to visit the bank's website. Complete an application form online or by downloading it. Then, send a printed, signed copy of the form with attested required documents to an address provided by the bank on their website. Alternatively, you can visit the bank's overseas branch or a branch in India on your next visit. When in doubt, contact us at contactus@nridealexpert.com

Can I transfer funds from my existing NRO Accounts to open an NRE Account?

No, you can transfer funds from your existing NRE savings accounts, NRE fixed deposits, FCNR deposit, but not from your other NRO savings accounts and NRO fixed deposits.

How can I transfer or repatriate Indian Rupees in my NRE savings account in India to my overseas bank account?

NRE account (NRE savings account or NRE fixed deposit) balances are freely repatriable. There is no limit specified for outward remittances from such accounts.

 

In order to do an outward remittance from your NRE bank account (NRE savings account or NRE fixed deposit), you have to walk into any of the branches of the bank in India where you are maintaining NRE account (NRE savings account or NRE fixed deposit) and initiate the outward remittance by completing a simple request letter. Some of the banks offer this facility through their online banking also.