POSTED BY July 28, 2012 5:10 am COMMENTS (3)ON
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?
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3 replies on this article “NRE FD questions”
Dear Anurag, Yes is the answer for Q no. 3.
once you are back in india , the NRE and NRO account get converted to normal saving account .
Answer to question 1: On renewal the interest rate will be that what prevails by that time.