{"id":3057,"date":"2021-08-23T11:25:00","date_gmt":"2021-08-23T11:25:00","guid":{"rendered":"https:\/\/www.indusind.bank.in\/iblogs\/?p=3057"},"modified":"2026-10-13T12:04:57","modified_gmt":"2026-10-13T06:34:57","slug":"check-out-the-top-5-benefits-of-nre-savings-account","status":"publish","type":"post","link":"https:\/\/www.indusind.bank.in\/iblogs\/savings-account\/check-out-the-top-5-benefits-of-nre-savings-account\/","title":{"rendered":"NRE Savings Account: Know The Benefits & Required Document"},"content":{"rendered":"\n

Just like NRIs don’t break emotional ties with their motherland, they no longer need to sever the financial one. India offers them a great deal of banking and investment opportunities that caters to a diverse set of financial goals.<\/p>\n\n\n\n

Consider one such example of a Non-Resident External or NRE savings account. Through this account, you can deposit funds in any foreign currency, which are converted to INR and earn tax-free interest on them. Moreover, this account allows you to withdraw funds in India to help a family member in need or to invest in other instruments.<\/p>\n\n\n\n

If you’re still wondering whether to open an NRE savings account or not, these 5 benefits will help you decide.<\/p>\n\n\n\n

Earn a high rate of return<\/h2>\n\n\n\n

Does a high ROI on a savings account sound unusual? Well, it\u2019s true! With IndusInd Bank, you can earn up to 5% returns on your NRE savings account. Whether you use this account for transiting funds into long-term financial instruments or for local expenses by family members, you won’t be losing any interest on it. In fact, you’d likely be earning more ROI than any of your savings accounts held in your country of residence.<\/p>\n\n\n\n

Pay zero tax on returns<\/h2>\n\n\n\n

Here is a plum scenario. With an NRE savings account, you not only earn a significant ROI, but all of the interest accumulated is tax-free in India. This goes for the entire amount, not just the principal or the interest component.<\/p>\n\n\n\n

Open remotely<\/h2>\n\n\n\n

At IndusInd Bank, you get a user-friendly online portal to open NRE savings accounts from any location. All you have to do is click here and start a new application by filling out a digital form. Through this portal, you can also track your application status online. Opening this account online speeds up the verification and approval process and saves you from submitting paperwork or visiting the bank branch.<\/p>\n\n\n\n

Freely repatriate funds<\/h2>\n\n\n\n

An NRE savings account does not hold restrictions on where you can transfer funds from this account. You can fully and freely repatriate money from this account into any one of your international accounts. Further, if you want to invest in any financial instrument in India or in your country of residence, you can do so by pulling funds out of an NRE account. Both the interest and the principal components can be repatriated electronically.<\/p>\n\n\n\n

Open jointly<\/h2>\n\n\n\n

If you don\u2019t want to operate an NRE savings account<\/a> in India alone, no problem! IndusInd Bank allows you to open one with any other family member, any other NRI or PIO, or a Resident Indian\u2019s close relative with \u201cFormer or Survivor\u201d mode of operation. Person of Indian Origin (PIO) cardholders are also eligible to hold this account jointly with NRIs who have an Indian passport.<\/p>\n\n\n\n

Documentation required for opening an NRE savings account<\/h3>\n\n\n\n

Here is a short document checklist to open an NRE savings account with IndusInd Bank:<\/p>\n\n\n\n