Compare NR Accounts
Comparison Between Different Accounts
|
NRE Accounts |
NRO Accounts |
FCNR Deposits |
NRE Term |
NRO Term |
|
|---|---|---|---|---|---|
|
Type of Account/ Deposit offered by Barclays India |
Saving Account (maintained in Rupees) |
Saving Account (maintained in Rupees) |
Fixed Deposit (maintained in Foreign currency) |
Fixed Deposit (maintained in Rupees) |
Fixed Deposit (maintained in Rupees) |
|
Benefits |
Rupee Account with free repatriation benefits |
Rupee Account with free repatriation benefits |
Allows you to maintain your overseas funds in foreign currency |
Earn higher returns on Rupee funds compared to a savings / current account |
Earn higher returns on your Rupee income earned in India compared to a savings / current account. |
|
Minimum Deposit |
Rupee Account with free repatriation benefits |
Rupee Account with free repatriation benefits |
Allows you to maintain your overseas funds in foreign currency |
Earn higher returns on Rupee funds compared to a savings / current account. |
Earn higher returns on your Rupee income earned in India compared to a savings / current account. |
|
Repatriation |
INR 10,00,000 |
INR 10,00,000 |
USD 25,000, GBP 15000, EUR 17000 |
INR 10,00,000 |
INR 10,00,000 |
|
Tax Implications |
Tax free in India |
Taxes applicable |
Tax free in India |
Tax free in India |
Taxes applicable |
|
Joint Accounts |
Only with other Non-Resident Indians |
Resident Indians as well as other NRIs |
Only with other Non Resident Indian's |
Only with other Non Resident Indian's |
Resident Indians as well as other NRIs |
|
Whether Rupee as Source of fund allowed ? |
No |
Yes |
No |
No |
Yes |