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Only for NRI (Non Resident Indians)

Only for NRI (Non Resident Indians)

Dear friends,
Somebody please tell me about NRE account and its benefits. Also I would like to know about a normal savings account in an Indian bank. Is there any income tax we should pay for the deposits? How much the maximum amount we can keep in a savings account without paying a tax?

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supermanqatar's picture
Answer this Question
Posted in:
By supermanqatar
Mon, 16/11/2009 - 9:00pm

Answers

naseem5_hindustani's picture
naseem5_hindustani
 

you can keep as much as you can with out tax.

minimum balance for most of the banks for NRE account is 5000 rupees.
Answered on Mon, 16/11/2009 - 9:53pm
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god1234's picture
god1234
 

Hi friend, Please check the following Link, you will get full answer for your query.

http://www.statebank...
Answered on Mon, 16/11/2009 - 9:54pm
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compmad's picture
compmad
 

There is no income tax if you keep any amount of money in the savings account. But interest is very low at 3+ %. If you open a fixed deposit which earns higher interest, then tax will be deducted from the interest payment.
Answered on Mon, 16/11/2009 - 11:11pm
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alsboy's picture
alsboy
 

Y not open up an NRE Account with HSBC, the minimum balance is 25,000/- Rs and if u wanna b a premier customer... add another 75K 2 it and just sit back & relax...
Answered on Tue, 17/11/2009 - 12:08am
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_noms_'s picture
_noms_
 

No interest.
Answered on Tue, 17/11/2009 - 7:42am
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muthuveerashenba's picture
muthuveerashenba
 

state bank of india is the correct option. it will be beneficial for u and the nation
Answered on Fri, 20/11/2009 - 11:32am
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