What is NRE Account?
A NRE bank a/c is an external saving bank a/c opened for NRIs. This is why it is known as Non-Resident External Accounts. Since it is external a/c, any money lying in NRE account can be taken out side the country or in other words, the money lying in NRE a/c are fully repatriable. This money can be converted into any foreign currency at the behest of the account holder and can be remitted outside the country.
