5 Differences between NRE and NRO Fixed deposit -HDFC ICICI SBI Kotak

Difference between NRE and NRO fixed deposit

NRI has two options to invest in Fixed deposit in India NRE  fixed deposit and NRO fixed deposit, but you need to be careful whether you choose NRE or NRO fixed deposit as taxation rules on NRE and NRO Fixed deposit is different. Principle and Interest earned in NRE fixed deposits are completely tax-free while interest earned on NRO fixed deposits are subject to TDS and deduct at the maximum rate of 30%. Also, you can send rupees back to your overseas account if it is held in NRE fixed deposit, but you can not repatriate money from NRO fixed deposit.

7 Things to Consider While Buying Online term Insurance plans

Online insurance plans like an online term insurance plan, online health insurance plans are getting popular due to their lower cost compare to buying similar insurance plans from agents or insurance agency.  An online terms insurance plan for 1crore for 30 years may cost you around 5500 from ICIC Prudential iProtect which is way lower than if you buy it from any insurance agent.

Can you deposit Indian rupees to NRE account?

No, you cannot deposit Indian rupees into an NRE account. The only way to fund an NRE account is via foreign currency remittance, foreign currency deposit when you visit India, or via foreign currency traveler's cheque. Since the NRE saving account is at par with the FCNR deposit, this is the restriction they have imposed. This also means that you cannot ask your friends, relatives, and parents to transfer money to your NRE account. I think the only way to transfer Indian rupees into an NRE account is by transferring money from your NRO account. 

Can I repatriate funds from NRE or NRO Bank account? Yes

Yes, you can repatriate funds from NRE, NRO, or FCNR account abroad, but each has its own rules and limitations. NRE and FCNR accounts are most flexible in terms of repatriation, also known as freely repatriable, which means that no prior RBI approval is required to remit funds overseas from these accounts. This includes both NRE and FCNR fixed deposits as well as NRE saving the account. You can also repatriate both principal and interest earned overseas from these two accounts.