Skip to main content

Can You Open a Joint NRE or NRO account (savings and fixed deposit)?

Yes, you can open a joint NRE or NRO savings, current or fixed deposit and FCNR fixed deposit account, but who you can use as joining partner depends on upon what type of account you are opening and citizenship of other account holders. For example, if you are opening an NRO (Non Resident Ordinary) savings, fixed deposit or current account then you can open it jointly with any resident Indian or NRI. It means you can open NRO account jointly with your parents, spouse or your siblings, of course, if they are staying in India or any NRI e.g. your wife and children which are staying abroad with you.
Read more »
Labels:

Comments

Post a Comment

Popular posts from this blog

Foreign Bank or Indian Banks? Which offers more interst on NRE Fixed deposts?

Recently one of my readers asked me that he wants to invest some money on NRE fixed deposits but confused on whether to go for foreign banks like Citibank, DBS, Standard Chartered, Deutsche Bank or Indian banks like ICICI, Kotak, HDFC, SBI, Axis Bank or Union Bank? I asked him, whether he has any existing NRE saving account , he says he doesn't have any existing NRE saving account? Then I ask him what is more important for you? the interest rate or convenience? and his answer was the interest rate. Read more »
Post a Comment
Read more

How to Send Money Abroad/Overseas from NRE or Resident Bank Account - [Online Outward Repatriation]

You can send money abroad on your overseas savings account from an NRE account in India. You can do this both online from the comfort of your office or home and offline from any branch of your bank. This is also known as repatriation or outward remittance. Almost all banks in India, both private sectors e.g. HDFC bank, ICICI, Kotak, YESBANK, Citibank, and public sector banks like SBI, Bank of Baroda, Bank of India, and others provide an online facility in their net banking website to transfer money to your overseas account. Read more »
Post a Comment
Read more

When do NRIs Needs to Pay Income tax In India?

One of the most common doubts among every new NRIs mind is whether they need to file income tax returns in India or not. As I told earlier that it's not mandatory to file an income tax return in India , but now questions come when do NRIs need to file an income tax return in India? When it's mandatory for NRI to file an income tax return in India. I'll try to answer these questions in this article. First thing first, NRI needs to pay tax on any income earned in India Similar to resident taxpayers, the basic tax exemption limit for NRIs are also 2,50,000 for the year 2015-16. Read more »
Post a Comment
Read more