Only for NRI (Non Resident Indians)

supermanqatar
By supermanqatar

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?

By muthuveerashenba• 12 years 9 months ago.
muthuveerashenba

state bank of india is the correct option. it will be beneficial for u and the nation

By _noms_• 12 years 9 months ago.
_noms_

No interest.

By alsboy• 12 years 9 months ago.
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...

By compmad• 12 years 9 months ago.
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.

By god1234• 12 years 9 months ago.
god1234

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

http://www.statebank.com/faq-nri-ser.htm

By naseem5_hindustani• 12 years 9 months ago.
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.

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