Can I convert my savings account to the NRE bank account?

Save over 60% on Brokerage

We can help you save between 60% to 90% brokerage fee & taxes. Contact us today...

NamePhone
EmailCity
State
Are you a day trader?

No, you cannot convert your savings account to NRE bank account. However, you can convert it into an NRO account. It is because transferring funds from the resident account to an NRE account is not permitted as per RBI guidelines. 

An NRI needs to close the existing resident account. And, open a new NRE account. If there is money in the resident account, they need to withdraw those funds.


Comments

No comments found. Be the first to post a comment.

Ask Your Question







Search Chittorgarh.com:

Download Our Mobile App

Android App iOS App