NRE Deposit

NRE deposits stands for Non Resident External Fixed Deposits.

Details:

1. The NRE Fixed Deposit Account is maintained in Indian Rupees;
2. The minimum amount with which you can open an NRE Fixed Deposit Account is INR  25,000/-& the amount required for Add-on Fixed Deposits is INR 10,000/-;
3. The frequency of interest payment on your NRE Fixed Deposit Account is Quarterly;
4. You will not get a cheque book or an ATM / Debit Card with your NRE Fixed Deposit Account ;
5. As per current guidelines, funds in NRE Fixed Deposit Account are exempted from income tax in India;
6. Only NRI's can open a NRE Fixed Deposit Account,

 i think NRE account is not Fixed account. It can be savings too.

The interest received is completely tax free.

You can refer to my dad's website, who r NRI Specialist.

https://nrimanager.com/knowledge/accounts.html 

thanx to you

nice explanation Mr Prabeer and Ms Satvir Singh Litt

can u pls tell me the difference between nre and nro a/c.

wat abt interest on nro a/c.?

is it taxable?