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What’s in store for you

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Key Features of NRE Savings Account

Account Benefits 

  • Easy funds transfer and attractive interest rates: Freely transfer funds between India and other countries*. Enjoy higher interest rates on your account balances. Pay ZERO tax on interest earned on your NRE Savings Account in India.  

  • Convenient fund management: Accessing funds in their NRE Account is crucial for Non-Resident Indians. HDFC Bank's NetBanking and PhoneBanking platforms allow easy and convenient money management from abroad. 

  • Wide network: With 6,500 branches, nearly 19,000 ATMs across India, and a presence in several countries, HDFC Bank ensures easy access for deposits and withdrawals from your NRE account, no matter where you are. 

  • Easy assistance: Need help with your NRE Account while overseas? HDFC Bank offers dedicated PhoneBanking numbers for NRI customers in various countries, ensuring you can always reach our Customer Care helpline for a hassle-free banking experience. 

  • Ease of accessibility: HDFC Bank's NRE Savings Account includes an International Debit Card, allowing easy cash withdrawals and global shopping facilities at any time. You can appoint a resident Indian as the mandate holder of your NRE Savings Account, enabling them to operate your account on your behalf. 

*Applicable service charges and taxes may apply.

Card Management & Control

Steps to add a mandate holder

To add a mandate holder, submit the following: 

  • Letter of Mandate Form signed by all account holders. To download the form, Click here 

  • Mandate holder's photograph 

  • Valid photo ID proof 

  • Address proof 

These documents must be self-attested by the mandate holder and submitted at an HDFC Bank branch in India. The account holder and mandate holder must mandatorily be present at the bank branch during the mandate submission process.

Card Management & Control

Simple ways to manage your account 

  • Freely transfer funds to any location outside India. 
  • Conduct transactions 24/7 through HDFC Bank NetBanking. 
  • Pay utility bills (electricity, phone, mobile) on time with simple registration.
Card Reward and Redemption

Other benefits

  • Receive a personalised cheque book. 
  • Enjoy income tax exemptions on interest earned. 
  • Benefit from exemption from wealth tax and gift tax. 
  • Access free email statement services. 
  • Use Safe Deposit Lockers at select branches. 
  • Invest in Mutual Funds by linking your NRE Savings Account to our Investment Savings Account.
Card Management & Control

Transfer of funds

  • Transfer funds from abroad in a freely convertible foreign currency. 
  • Deposit foreign currency notes or traveller's cheques brought during your visit to India into your HDFC Bank NRE Savings Account. 
  • Directly remit funds from your overseas bank account to your HDFC Bank NRE Savings Account. 
  • Transfer funds from an existing NRE/FCNR Account held in other banks in India.
Card Management & Control

Most Important Terms and Conditions 

  • *The Most Important Terms and Conditions for each of our banking offerings features all the specific terms and conditions that govern their use. You must go through it thoroughly to fully understand the terms and conditions applicable to any banking product you choose.  
Card Management & Control

Documents required to get you started

Identity Proof

  • Photocopy of Valid Indian Passport
  • Photocopy of Valid Foreign Passport

NRI/PIO Status Proof

  • Valid VISA (Employment / Residence / Student/ Dependent etc.) or Work/ Residence Permit copy.
  • OCI (Overseas Citizen if India) card / PIO (Person of Indian Origin) card / PIO Declaration wherever Applicable.

Officially Valid Documents (OVD)

  • Valid Passport
  • Driving Licence
  • Aadhar Card (Indian Address Proof)
  • Voter’s ID card issued by the Election Commission of India (Indian Address Proof)
  • Job Card issued by NREGA duly signed by an officer of the State Government (Indian Address Proof)
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More About NRE Savings Account

  • Features of NRE Savings Account
  • Transfer funds effortlessly between India and other countries.
  • Benefit from competitive interest rates on your account balance.
  • Enjoy tax-free interest earnings on your NRE Savings Account in India.
  • Move money internationally without restrictions.
  • Conduct banking transactions around the clock via HDFC Bank’s NetBanking platform.
  • Simplify bill payments for utilities (electricity, phone, mobile) through easy registration.
  • Benefits of NRE Savings Account
  • Receive a customised chequebook for convenient banking transactions.
  • Enjoy exemptions from income tax on the interest earned on your NRE Savings Account deposits.
  • Benefit from waivers on wealth tax and gift tax under Indian tax laws.
  • Get access to free email statements for regular account updates.
  • Utilise our Safe Deposit Lockers to park valuable documents and assets, available at selected branches.
  • Enhance investment opportunities by linking your NRE Savings Account to our Investment Savings Account for Mutual Fund investments.
  • How to apply for an NRE Savings Account?
  • Simply click here to start your online application for this account. You can open an NRE Savings Account online with HDFC Bank by following the given steps: Visit the HDFC Bank website and head to NRI-> SAVE-> NRI Accounts-> NRI Savings Accounts-> NRE Savings Account. Alternatively, you can also visit your nearest HDFC Bank branch.
  • Fees & Charges
  • Click here to know about the fees & charges associated with NRE Savings Account

Frequently Asked Questions

An NRE Savings Bank Account is a specialised bank account that allows Non-Resident Indians (NRIs) to deposit and manage their foreign currency earnings in India. The account offers several benefits like tax-free interest, easy fund repatriation to a foreign account, and secure online banking services, among other things.

Some advantages you can enjoy as an NRE Accountholder inlcude:

  • You can access your funds effortlessly from abroad using HDFC Bank’s NetBanking and PhoneBanking services.

  • You can benefit from our extensive accessibility with over 6,500 branches and 19,000 ATMs across India, plus HDFC Bank's international network.

  • You can sign up for  dedicated PhoneBanking support, designed specifically for NRI customers, ensuring smooth assistance while you’re overseas.

An NRE Savings Account is a fully repatriable account, wherein you can deposit and freely repatriate foreign currencies. The interest earned on NRE Account deposits is tax-free. Conversely, an NRO Savings Account is designed for NRIs looking to manage their earnings from Indian income sources. The interest earned on NRO Accounts is taxable. 

In case you are opening an account for depositing FCY income, then we recommend you to open NRE account with us and in case you are opening an account for depositing Indian income then we recommend you to open NRO account with us.

Benefits of NRE Account:

  1. Transfer funds freely between India and abroad (Subject to levy of applicable service charges and service tax)
  2. Transfer funds from an existing NRE / FCNR Account held in other banks in India
  3. Pay ZERO tax on the interest earned on your NRE Account in India
  4. Withdraw cash easily and shop worldwide with International Debit Card
  5. No deposit limit on NRE account 

Click Here to know the minimum balance required for an NRE account.

Yes, you can hold both NRO and NRE account.

Click here for documentation to open an NRE account. You will need to submit the application form along with the required documents.

You are eligible if you are a Non-Resident individual of Indian nationality or a Person of Indian origin.