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What is the difference between NRE and NRO accounts?

April 26, 2017accounts NRE nro

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What is the difference between NRE and NRO accounts?

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Funds remitted from abroad or local funds, which can otherwise be remitted abroad to the account holder, can be credited to NRE Accounts. Local funds, which do not qualify for remittance outside India, are required to be credited to NRO accounts. Funds can be freely transferred from NRE account to NRO account. However, no funds can be transferred from NRO account to NRE account.