Outward Remittance from Your NRO Account

​​​Send money from your HDFC NRO (Non-Resident Ordinary) Account to a foreign bank account with HDFC Bank Xpress Services. Whether it is for income, sale proceeds, or investment returns, the NRO outward remittance facility allows you to transfer funds abroad with ease.

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Overview of Outward Remittance through an NRO Account

An NRO Account is designed for NRIs to handle income earned in India, like rent, dividends, pensions and interest from fixed deposits. It also allows you to deposit funds in Indian rupees. However, keep in mind that the money in an NRO account isn't easily transferable abroad unless you follow the authorised remittance procedures.

Outward remittance refers to the process of sending money from India (from your NRO account) to someone overseas. Whether that's a foreign bank account or your own account abroad. You need to ensure that you have the necessary regulatory approvals and documentation.

  • NRIs can transfer up to USD 1 million each financial year from their NRO accounts for all bona fide purposes. 

  • You will need to provide certain documents, including Forms 15CA and 15CB, a declaration of purpose and proof of where your funds are coming from. 

  • The Authorised Dealer Bank, like HDFC Bank, needs to ensure that the source of your funds is legitimate and that everything complies with FEMA and RBI regulations.

  • This service allows you to easily transfer money from NRO account to foreign account. Here, the money could be the income you have earned in India. For example, rent, interest, dividends or sale proceeds. 

  • It also helps you manage your overseas responsibilities, such as education costs, living expenses, investments and transfers.

  • It ensures that you stay compliant with Indian foreign exchange and tax regulations.

  • The whole process is transparent and comes with oversight, which means there's a lower risk of running into regulatory issues. 

Process to Initiate Outward Remittance

  • Here is how you can transfer funds from NRO to foreign bank account: :

    • Log in to HDFC Bank’s Xpress Forms portal.
    • Select the NRO Outward Remittance option.
    • Enter your registered mobile number.
    • Verify using your PAN, DOB or Customer ID.
    • Fill in beneficiary details name, bank & branch, SWIFT/IBAN/SORT code, etc. (as required for the destination country).
    • Enter the amount you wish to remit.
    • Submit required statutory forms (e.g. Forms 15CA, 15CB) and declare purpose; verify via OTP or other authentication.

Frequently Asked Questions

You can send up to USD 1 million each financial year from your NRO Account. Just make sure that the money comes from legitimate sources like your income, investments or property sales. Plus, ensure that you have the right documentation ready to go.

The following are the rules you must follow for NRO Account outward remittance:

  • You must comply with RBI / FEMA regulations.

  • Submit Forms 15CA and 15CB when required. 

  • You must declare the purpose of remittance correctly with proper purpose codes. 

  • Beneficiary bank details must be accurate (SWIFT / IBAN, etc.). 

Typically, the remittance isn’t taxed, but you need to ensure that any taxes on the income being sent are settled in India. Forms 15CA and 15CB can help with that certification. If there’s any tax liability because the income was not taxed before, you will need to take care of that to stay compliant. 

USD 1 million limit applies each financial year for outward remittances from NRO accounts for NRIs. At the same time, you must ensure that you meet the documentation requirements and follow the FEMA/RBI regulations, along with your bank’s internal processes.

Outward Remittance from Your NRO Account Now!

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