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NRE or NRO Savings Account – Which one NRI should open? Differences

NRE or NRO savings account, which should I open is first doubt comes in mind of any Non Resident Indian (NRI), who wants to open saving accounts in India on Indian banks like ICICI bank, SBI bank, HDFC Bank, Kotak Mahindra Bank and several other public sector banks which offer this facility like Bank of Baroda. NRE and NRO are two kinds of accounts any NRI can open in India, NRE stands for Non Resident External while NRO stands for Non Resident Ordinary account, though both can be held by Indians there are many differences between them and based upon your need you need to choose to open either NRE or NRO account in India. Almost all major banks both public sector and private sector like SBI, HDFC, ICICI, Kotak Mahindra allow NRI Indian to open both NRE and NRO account.
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