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Give yourself an edge with an NRE Savings Account.

Person, Human, Money
Person, Human, Money

Give yourself an edge with an NRE Savings Account.

Benefit from an account that gives you flexibility

When in India freely access funds in INR and convert the same into foreign currency to spend it abroad any time you wish.

Features

FAQs

  • An NRE account is an account opened in India where an NRI can maintain funds in INR.  Freely move funds to India or transfer it back to your home country whenever you want to.

  • Opening an NRE savings account is a viable option when you migrate abroad. The money earned abroad can be converted to INR and deposited in an NRE account. With the NRE account, you can enjoy tax-free interest and full repatriability of funds deposited.

  • 25000 INR

  • Interest rates are subject to change. Please visit below link for updated rates:
    https://www.sc.com/in/deposits/interest-rates/#sc-lb-module-fee-and-rate-2

  • The application process of opening a Standard Chartered NRE Savings Account is as follows.

    Click here and you will be redirected to a page with different types of NRI offerings
    Select the option “NRE Savings Account”
    Fill in the necessary details and click “Proceed”
    The application has been sent for approval

    Once you have applied, the Standard Chartered officials will contact you to verify the information and take the application ahead.

  • Yes, both principal amount and interest can be repatriated.

  • No, the interest earned in the NRE Savings account is not subject to a tax deduction, it is tax-free.

  • Yes, your Standard Chartered NRE account can be jointly held with another NRI or Resident.

  • An NRE account is maintained only in INR. Other currencies can be converted to INR and deposited to NRE account. Similarly, when you withdraw funds from the NRE account it can be converted to the currency of your home country

Important information

  • Not available at H2-Connaught Circus, New Delhi, 110 001 and XXIV/1633, K.P.K. Menon Road, Willingdon Island, Cochin – 682 003.
  • Standard Chartered online banking is not available for access from Saudi Arabia. This is due to a regulation by the Saudi Arabian monetary authority.