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What types of Bank Accounts can NRIs open?

April 26, 2017bank accounts NRIs types

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What types of Bank Accounts can NRIs open?

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Indian nationals and persons of Indian origin residing abroad can open the following types of accounts with authorized Banks out of the funds remitted from abroad or out of Foreign Exchange brought in from abroad or out of the funds legitimately due to them in India: q Non-Resident (External) Rupee Account [NRE] q Foreign Currency (Non-Resident) Accounts [FCNR] q Non-Resident Non-Repatriable Rupee Deposit Accounts [NRNR] q Resident Foreign Currency Account [RFC] for returning Indians q Ordinary Non-Resident Rupee Accounts [NRO] q Special Schemes viz.