Using your phone's internet browser
go to:  qna.rediff.com
Click and drag this link to
the Home icon in your browser.
Q.

What is difference between NRI,NRE & NRO

Tags: money, nri, education
Asked by Shahnawaz Ahmed, 15 Nov '09 08:07 pm
  Invite a friend  |  
  Save  |  
 Earn 10 points for answering
Answer this question  Earn 10 points for answering    
4000 characters remaining  
  
    
Keep me signed inNew User? Sign up

Answers (7)

1.

NRI refers to Non-Resident Indian
NRE refers to Non-Resident External (Bank A/c) The deposit amount can be fully convertible or repatriable.
NRO refers to Non-Resident Ordinary (Bank A/c) . The deposit amount cannot be repatriatable.
Answered by Joseph Chacko, 15 Nov '09 08:16 pm

 
  
Report abuse
Useful
 (0)
Not Useful
 (0)
Your vote on this answer has already been received
2.

NRI refers to Non-Resident Indian in respect to citizenship.
remaining both terms are in respect of bank a/c of a NRI
NRE refers to Non-Resident External (Bank A/c) The deposit amount can be fully convertible or repatriable.

NRO refers to Non-Resident Ordinary (Bank A/c) . The deposit amount cannot be repatriatable.
Answered by bhanwar bothra, 15 Nov '09 08:32 pm

 
  
Report abuse
Useful
 (1)
Not Useful
 (0)
Your vote on this answer has already been received
3.

NRE means the amount kept in rupees can be converted and repatriated back into foreign currency
NRO means the amount is kept in rupees and cannot be converted or repatriated back into foreign currency
NRI means Non Resident Indian
Answered by Anand Agarwal, 15 Nov '09 08:10 pm

 
  
Report abuse
Useful
 (1)
Not Useful
 (0)
Your vote on this answer has already been received
4.

NRE means the amount kept in rupees can be converted and repatriated back into foreign currency
NRO means the amount is kept in rupees and cannot be converted or repatriated back into foreign currency
NRI means Non Resident Indian...........
Answered by miss, 15 Nov '09 08:08 pm

 
  
Report abuse
Useful
 (1)
Not Useful
 (0)
Your vote on this answer has already been received
5.

There is not any difference between NRE and NRI as any person who is abroad for 180 days and above are (Non Resident Indian/)NRI/NRE,

NRO is the account of NRI into which all the local income can be credited
Answered by rajnikant raiyarela, 15 Nov '09 08:10 pm

 
  
Report abuse
Useful
 (0)
Not Useful
 (1)
Your vote on this answer has already been received
6.

NRI stands for non resident india . NRE and NRO are type of bank account which can be held by NRI with Indian bank for more info visit http://www.mynriclub.com/site/NRI-Finance/NRI-Account/NRE-Account
Answered by Nilesh Patel, 06 Oct '10 02:25 pm

 
  
Report abuse
Useful
 (0)
Not Useful
 (0)
Your vote on this answer has already been received
7.

Please see a article in Ratekhoj.com (http://www.ratekhoj.com/news/index.php/nre/nro-nre-and-fcnr-acco unts-for-nris-pros-and-cons-to-consider-before-opening-a-account- 157/) for comparison of NRO, NRE and FCNR accounts. You can make a decision based on that. Ratekhoj.com also provides a comparison of the best interest rates available on these accounts across all banks in India
Answered by ram v, 05 Mar '10 05:52 pm

 
  
Report abuse
Useful
 (0)
Not Useful
 (0)
Your vote on this answer has already been received

Ask a Question

Get answers from the community

600 characters remaining