A Non-Resident External (NRE) Savings Bank Account is a specialized bank account that caters to Non-Resident External (NREs) for the purpose of managing their finances in India. This account allows for convenient international transfers, access to funds, and a range of investment opportunities. The primary account type is the NRE (Non-Resident External) account, which is designated for foreign earnings and is tax-exempt, fully repatriable. An NRE account holder must meet the RBI criteria for NRE status, often based on physical presence outside India for a certain period.
