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NRI

Who can open accounts

 

FCNR

NRIs

NRE

NRIs

NRO

NRIs

Joint accounts of two or more NRIs

 

FCNR

Permitted

NRE

Permitted

NRO

Permitted

Joint account with Residents

 

FCNR

Permitted

NRE

Permitted

NRO

Permitted

Nomination facility

 

FCNR

Available

NRE

Available

NRO

Available

Currency of account

 

FCNR

USD, GBP, EUR, JPY,AUD,CAD

NRE

Indian Rupees

NRO

Indian Rupees.

Repatriability

 

FCNR

Freely Repatriable

NRE

Freely Repatriable

NRO

Principal upto USD 1Mn. Subject to FEMA 2000 guidelines from time to time

Type of account

 

FCNR

Term deposits

NRE

"Savings, Current and Term deposits

NRO

"Savings, Current and Term deposits

Period

 

FCNR

12 months to 5 years

NRE

12 months to 10 years

NRO

7 days to 10 years

Minimum amount

 

FCNR

USD 1,500 GBP 1,000 EUR 2,000 JPY 50,000 AUD 1,000 CAD 1,000