Repatriation of own funds in nre account to overseas

Particulars

FCNR (B) Account

NRE Account

NRO Account

Joint account of two or more NRIs

Permitted

Permitted

Permitted

Joint account with another person resident in India

Not permitted

Not permitted

Permitted

Currency in which account is denominated

Pound Sterling/ US Dollar/Jap.Yen/Euro

Indian Rupees

Indian Rupees

Repatriability –
Principal

Freely repatriable

Freely repatriable

Not repatriable

(except current income like rent, dividend, pension etc. and remittances indicated under "Repatriation of NRO Funds")

Interest

Freely repatriable

Freely repatriable

Freely repatriable

Foreign currency risk

Account holder is protected against changes in INR value vis-à-vis the currency in which the account is denominated.

Account holder is exposed to the fluctuations in the value of INR.

Account holder is exposed to the fluctuations, in the value of INR to the extent of interest amount.

Type of accounts

Term deposits only.

Current, Savings, Recurring, Fixed Deposits.

Current, Savings, Recurring, Fixed Deposits.

Period of fixed deposits

For terms not less than 1 year and not exceeding 3 years

For the periods as announced by the deposit taking bank.

For the periods as announced by the deposit taking bank.

Rate of interest

Banks are free to determine interest rates within the ceiling, if any, prescribed by the Reserve Bank

Banks are free to determine interest rates.

Banks are free to determine interest rates.

Rupee Loans in India against Security of the funds held in the account to :
Account holder
Third Party

Permitted
Permitted

Permitted
Permitted

Foreign currency loans outside India against security of the funds held in the account to :
Account holder
Third Party

Permitted
Permitted

Permitted
Permitted

Not permitted
Not permitted