If you know about NRI banking facilities and different accounts they can open in India i.e. NRE, NRO, FCNR, and RFC then you know that there are different rules to deposit money on these accounts, but it's not clear to many Non-resident Indians. Most of the doubt comes from the fact that NRE account is a Rupee saving account but you cannot deposit Indian Rupees into It. There are some strict rules to deposit funds into NRE saving accounts.
My personal notes on NRI Banking, Tax saving , Personal Finance, Income tax planning , NRI Loans ,Insurance, Fixed deposits , Mutual Fund and Saving Practice, tips etc
Saturday, March 24, 2018
Tuesday, March 13, 2018
Can You Deposit Money in Rupees in NRO Account?
One of the common questions among new NRIs or Indians just went abroad is whether they can deposit rupees in NRO account or not? The short answer to this question is YES, you can deposit INR or Indian rupees into NRO account. In fact, that's the sole purpose of opening an NRO account because you cannot deposit rupees into NRE account. If you are new to NRI banking facilities available to Non-resident Indians then let me tell you there are two main types of saving accounts NRIs can open in India, NRE (Non-Resident External) and NRO (Non-resident Ordinary).
Monday, March 12, 2018
10 Important Custom and Baggage Rules for NRIs - Indians Returning from Overseas
India is getting prosperous and foreign trip are not the privilege only rich people had in the past. Nowadays, many middle and upper-middle-class Indians are traveling abroad for holidays, vacations, honeymoons, study and just for work to nearby countries e.g. Singapore, Malaysia, Dubai, Thailand etc. Apart from the hassles of Passport and VISA, one more thing which bothers many Indias is the customs rules and the worry about what they can carry back to India without paying customs duty while shopping overseas.
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