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Key Takeaways: An NRE account offers several benefits including the facility to easily and quickly remit foreign earnings to India. Read on to know more about an NRE account benefits.
Even though NRIs live abroad, they have strong family and financial ties back in India. An NRE account helps NRIs easily manage their financial commitments in India, be it family expenses, investments or utility bills. You can deposit foreign currency earnings in your NRE account and withdraw in rupees to manage Indian expenses. The good thing is you can fully repatriate the amount you hold in an NRE account. Let us look at more NRE account benefits in this article.
Benefits of NRE account
Here are six benefits of an NRE account:
What happens to your NRE account if you become a resident Indian again?
In case of a short visit, the NRE account can continue as it is. However, if you plan to become a resident Indian again, you would need to re-designate the NRE account to a resident account or a Resident Foreign Currency (RFC) account.
Final Note: NRE accounts bring a lot of benefits to NRIs, helping them manage their India financial affairs more efficiently and seamlessly.
Would you like to avail preferential rates on remittances to India? With DBS Treasures, you can have access to better rates and faster international money transfers. Know more!
*This article is for information purpose only and is not a tax advice by DBS Bank. Sound professional advice should be taken before making any investment decisions. Bank will not be responsible for any tax loss/other loss suffered by a person actng on the above.