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  • How important it is for you to pass the exam in this attempt?
  • What percentage of course you have finished well so far roughly?
  • How many hours you study in a day?
  • How many times you have revised the topics you have finished
  • Have you taken online or pen drive or live class from a renowned faculty?
  • What percentage of the classes you have watched?
  • Have you attempted mock tests or practice tests yet?
  • Are you planning to attempt mock tests conducted by external bodies- ICAI, ICSI, ICMAI or other institute?
  • How many tests you have taken?
  • Did you manage to finish the test papers on time?
  • Are you strictly following study material provided by the exam conducting authority such as ICAI/ICSI/ICMAI/Other Body?
  • How is your health in general?
  • How is your food habit?
  • Any interest in yoga or exercise or play sports regularly?
  • Planning to sleep well nights before the exams?
  • Planning to have light food and water before exams?

NRE (Non Resident External) Accounts

NRE (Non Resident External) Accounts

Non Resident External (NRE) Accounts are opened for Non Resident Indians. A Non Resident Indian (NRI) is an Indian citizen or foreign national of Indian origin resident outside India for purposes of employment, carrying on business or vocation in circumstances as would indicate an intention to stay outside India for an indefinite period.

A person of Indian origin (PIO) is a citizen of any country other than Pakistan, Bangladesh or Sri Lanka, who

  • At any time held an Indian Passport,
  • He or any of his parents or grand parents was a citizen of India,
  • Is a spouse of an Indian Citizen or a person referred to above.
EligibilityPersons of Indian nationality or origin residing abroad.Accounts can be opened in single name or in joint names with another non resident Indian.
RequirementsDuly filled in Account Opening form with

  • Copy of the Passport
  • Visa/residence permit
  • Two copies of recent photographs
  • Initial money remittance
Currency of accountAccounts are maintained in Indian Rupees.
Types of AccountSavings Bank, Current Account and Term / Fixed Deposit Accounts can be opened.
Credits in the accountCredits in the accounts can be made by:

  • Depositing Foreign Currency Notes/Traveler Cheques
  • Depositing cheques/instruments drawn in foreign currency
  • Inward remittance in foreign currency or Indian Rupees from abroad
  • Transfer from another NRE or FCNR account

The credits received in foreign currency are converted into Indian Rupees at the prevailing exchange rates.

Payments/Transfers from accountPayments/transfers from the accounts can be made by:

  • Indian Rupees
  • In foreign currency by converting Indian Rupees in foreign currency at the prevailing exchange rates.
Exchange RiskThe exchange risk of converting foreign currency into Indian Rupees and vice-versa is born by the depositor.
Account OperationBy account holder(s)Account holder(s) can grant Power of Attorney and authorize resident Indian(s) to operate Savings or Current accounts.
Interest RateInterest rate varies from bank to bank.In case of term / fixed deposits, the interest may be paid either in lump sum at the time of maturity or it may be paid every quarter or every month as opted by the depositor.
Nomination facilityAvailableNomination can also be made in favour of resident Indians.
TransferabilityAllowed from one branch of the issuing bank to another.
Premature EncashmentAllowed subject to some interest rate penalty.
Interest TaxabilityExempted from Indian Income Tax
Auto RenewalThe facility of auto renewal of deposits is available from banks.
Change of Status from Non-Resident to ResidentImmediately on return of the account holder to India and on his becoming resident in India, he is required to advise the bank. His NRE account will be redesignated as resident rupees account or converted to RFC (Resident Foreign Currency) account as per his option.The fixed / term deposits shall continue to earn the earlier contracted Interest Rate till maturely.
Other featuresThe balances in NRE accounts are free of Wealth-tax.The entire credit balance (inclusive of accrued interest) in an NRE account can be repatriated outside India at any time without reference to the Reserve Bank.Loans/overdrafts are available from banks against security of deposits in NRE accounts.Exchange risk is born by the depositors.

Investment from the account can be made in shares, debentures, mutual funds, money market mutual funds etc. The amount invested and income on that amount can be repatriated if the required conditions are fulfilled.

On return to India, the following amounts can be deposited in the RFC A/C –

  • Balances in Bank accounts outside India and interest thereon.
  • Dividend, interest, profit earned on investment in foreign currency in the form of shares or securities.
  • Rent etc. earned from Immovable property outside India.
  • Foreign exchange earning through employment, business or vocation outside India which was taken up while staying abroad.

Other facilities like International Credit/Debit cards, On-line / Internet banking etc. are usually offered free by banks.

NRE (Non Resident External) Accounts



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