NRE FD questions

POSTED BY Anurag Dalmia ON July 28, 2012 5:10 am COMMENTS (3)

1. If I open an NRE FD for a term of 390 days and I set it up for automatic renewal, will change in interest rates apply after the current term gets done and the next term is about to start ? Or will the same interest rate apply throughout until the FD is cashed?
2. If I open an NRE account and move to india, how will that effect the FD. Will it remain an NRE FD until I encash it? Or will it modify to a normal FD once I move back once the current term gets done?
3. can I encash NRE FD from India?

3 replies on this article “NRE FD questions”

  1. Dear Anurag, Yes is the answer for Q no. 3.

    Thanks

    Ashal

  2. once you are back in india , the NRE and NRO account get converted to normal saving account .

  3. kramasundar says:

    Answer to question 1: On renewal the interest rate will be that what prevails by that time.

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Download Our FREE Ebook!

Available only for first 100 people today

Download Our FREE Ebook!

Available only for first 100 people today