Only for NRI (Non Resident Indians)
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?
state bank of india is the correct option. it will be beneficial for u and the nation
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...
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.
Hi friend, Please check the following Link, you will get full answer for your query.
you can keep as much as you can with out tax.
minimum balance for most of the banks for NRE account is 5000 rupees.