If you are an Indian staying abroad, surely you will be looking for different options wherein you can send money to your homeland. But with so many options that are available, which is the best and the safest one? The NRI account is one option. There are several benefits to this account which shall mention in the article. Out of all the benefits that are offered with this account, these three factors are the most important one that any NRI must know.
Types of NRI account
When opening an account for an NRI, you will have to different types of options available. Namely, the Non Residing External account also known as the NRE account and the Non Residing Ordinary account, also known as the NRO account are the two options available. There are few similarities between these two accounts. They can both be openedeither as savings or current account wherein the denomination will be held as Indian Rupee accounts. Additionally, you will need to maintain at least a minimum average of 75,000 INR per month in both the accounts.
Difference between the two accounts
Although both these accounts come under the NRI account they both have different features.Best NRI accountNRI account
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