Know the Difference Between NRE and NRO Fixed Deposit Account - Loan Trivia

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Friday, 14 October 2016

Know the Difference Between NRE and NRO Fixed Deposit Account

Are you an NRI? Are you planning to save your hard earned money in the form of fixed deposit? Then, NRE or NRO FDs will be apt for you. But, which among the two will be just perfect for you?

You have to analyse your situation and your requirement of an FD, before applying for any of these. You have to understand whether you have foreign currency or Indian rupee, that you are going to save.

If you have foreign currency and you want to transfer that to India to save it in rupees, NRE account will be perfect for you. While if you are earning in rupees from any source in India, NRO account will be apt. But one is tax free and the other is taxable. To know the details about the tax, click: -
http://blog.bizbilla.com/finance/user/show/6899/nre-or-nro-fixed-deposit-compare-the-features-of-both-options

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