Financial steps before moving abroad temporarily

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Raghav (Querist)
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14 September 2022 Hello,

I will be moving to a foreign country on work permit in a few days.
I need to know what steps should I take regarding my Bank Accounts /FDs which I operate in India as I will become an NRI.
I have FDs which will mature in 3 years in my different bank accounts.
Do I need to break my FDs and transfer all my savings money into a single account and the convert it to NRO account Or can I wait till the FDs mature and then close/convert the bank accounts to NRO?

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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14 September 2022 Convert your SB account as NRO account within 6 months of leaving the country.
Wait till the FDs mature and then transfer it to NRO.

Raghav

Raghav (Querist)
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14 September 2022 Thank you for the advice sir

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