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Compare NR Accounts

Comparison Between Different Accounts

  NRE Accounts NRO Accounts FCNR Deposits NRE Term
Deposits
NRO Term
Deposits
Type of Account/ Deposit offered by Barclays India Saving Account (maintained in Rupees) Saving Account (maintained in Rupees) Fixed Deposit (maintained in Foreign currency) Fixed Deposit (maintained in Rupees) Fixed Deposit (maintained in Rupees)
Benefits Rupee Account with free repatriation benefits Rupee Account with free repatriation benefits Allows you to maintain your overseas funds in foreign currency Earn higher returns on Rupee funds compared to a savings / current account. Earn higher returns on your Rupee income earned in India compared to a savings / current account.
Minimum Deposit INR 5,00,000 INR 5,00,000 USD 25,000, GBP 15000, EUR 17000 INR 1,00,000 INR 1,00,000
Repatriation Fully Repatriable Restricted repatriability (post deduction of applicable tax) Fully Repatriable Fully Repatriable Restricted repatriability (post deduction of applicable tax)
Tax Implications Tax free in India Taxes applicable Tax free in India Tax free in India Taxes applicable
Joint Accounts Only with other Non-Resident Indians Resident Indians as well as other NRIs Only with other Non Resident Indian's Only with other Non Resident Indian's Resident Indians as well as other NRIs
Whether Rupee as Source of fund allowed ? No Yes No No Yes