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The NRE account stands for the Non-Resident External account and I strongly believe, every NRI who has any interest in India must open this account. It has some excellent features which are not available to other types of account e.g. interest earned on NRE account is tax-free in India and not only that, both principal and interest are fully repatriable to overseas. You don't need to ask for permission or worry about paperwork, if you need money in overseas, you can always transfer from your NRE bank account. Read more »

If you are sending money to India from any abroad location e.g. United States, Singapore, United Kingdom, or Australia, it's worth checking rates offered by different remitting services like DBS India Remit, CurrencyFair HDFC Quick Remit,  ICICI money2India, Times money Remit2India, Axis bank remittance services and SBI bank itself. Given current volatility in exchange rates, you may end up losing a good sum of money up to 1000 to 5000 Rupees, given your choice of remitting services. Since all of the above provide good services and connectivity in terms of sending money to different cities in India or even sending money to a different branch of the different bank. For example, You can use CurrencyFair or ICICI Moeny2India to send money to your Mumbai HDFC account or Bangalore Kotak Mahindra account, in fact to any branch and any city. Which means, there is no point sticking with just one service or bank for transferring money to India. Read more »

If you know about NRI banking facilities and different accounts they can open in India i.e. NRE , NRO , FCNR , and RFC then you know that there are different rules to deposit money on these accounts, but it's not clear to many Non-resident Indians. Most of the doubt comes from the fact that NRE account is a Rupee saving account but you cannot deposit Indian Rupees into It. There are some strict rules to deposit funds into NRE saving accounts.Some of the common questions many NRI friends ask me is that is it possible to transfer money to NRE account from India? or how to transfer money from savings account to NRE account, or can you deposit Indian rupees to NRE account etc. Read more »

I was searching for good health insurance plans for my family recently when I come to know about these "family floater health insurance plans". I have not heard this term before, so I did a bit of research about family floater plans and the benefits of taking this type of medical insurance and was surprised to know that now you can cover almost all members of your family with just one health insurance plan. This is a big relief because you don't need to buy and maintain separate health insurance plans for different family members, in just one insurance policy you can cover yourself, spouse (wife or husband), children, parents (mom and dad), etc. Read more »

Recently I was doing some research to open an NRI Savings account in India , and given their is  so many banks, both public and private sector are providing NRI services, I thought to do some quick checks on the best NRI savings account I can get this moment. One of my friends suggested me to open your NRI Savings account in HDFC bank , other suggested that he has an account in Kotak Mahindra and very happy with their services especially rather offered on their remittance service click2Remit . Read more »