NRE / NRO / FCNR — which account do you need?
Your sale proceeds must land in the right account. Wrong account = FEMA violation. This tells you exactly which one and why.
Where does the money you want to deposit come from?
What do you want to do with this money?
What currency do you want to hold the funds in?
Recommended: NRE Account
Foreign salary or income that you want to move freely between India and abroad is ideal for an NRE account. Interest is tax-free in India, and both principal and interest are fully repatriable without any limit or documentation.
| Feature | NRE | NRO | FCNR |
|---|---|---|---|
| Full name | Non-Resident External | Non-Resident Ordinary | Foreign Currency Non-Resident |
| Currency | Indian Rupees (₹) | Indian Rupees (₹) | Foreign currency (USD, GBP, EUR, AUD, CAD) |
| Deposit source | Foreign income only | Indian income + foreign remittances | Foreign income only |
| Property sale proceeds | ✗ Cannot deposit | ✓ Must go here first | ✗ Cannot deposit |
| Interest tax in India | ✓ Tax-FREE — Sec 10(4)(ii) | ✗ Taxable at 30% + cess | ✓ Tax-FREE — Sec 10(15)(iv)(fa) |
| Repatriation | Fully free — no limit | Up to USD 1M/yr + Form 145 / 146 + ITR | Fully free — no limit |
| Currency risk | Yes — INR can depreciate | Yes — INR denominated | ✓ None — held in foreign currency |
| Joint holding | With another NRI only | With NRI or resident relative | With another NRI only |
| Typical FD rate | ~6.5–7.5% p.a. | ~6.5–7.5% p.a. (taxed) | ~4–5.5% p.a. (foreign currency) |
| Best for | Foreign salary, free repatriation | Property sale proceeds, rental income | Avoiding currency risk on foreign earnings |
Get your account structure right
We advise on account structuring, TDS reduction on NRO interest, DTAA applications, and FEMA-compliant repatriation.
Get Banking Advice →Check out more free NRI tools.
Am I an NRI?
Your tax status determines everything — TDS rates, repatriation rights, and which rules apply to you. Takes 60 seconds.
How much will the buyer deduct?
Enter your sale price. See the exact TDS amount deducted before the money reaches your account — and how that rate is calculated.
Can you pay less TDS on Day 1?
Form 128 (formerly Form 13) lets you apply before the sale to get a lower TDS certificate. See how much you can recover upfront instead of waiting 12–18 months for a refund.
From estimate to execution.
Estimates get you ready. A specialist makes it real, with the filings, certificates and bank coordination handled in-house.