NRE, NRO, or FCNR: How NRIs Can Manage Money in India

NRIs, PIOs, and OCIs can open three types of specialized bank accounts to manage finances in India: NRE, NRO, and FCNR(B). NRE accounts hold Indian currency, offer tax-free interest, and are fully repatriable. NRO accounts manage Indian income like rent and pensions, are taxable, and have repatriation limits. FCNR(B) accounts are fixed deposits in foreign currency with tax exemption and full repatriation.