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. Ashal Jauhari says:
    July 28, 2012 at 11:15 pm

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

    Thanks

    Ashal

    Reply
  2. Manish Chauhan says:
    July 28, 2012 at 9:15 pm

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

    Reply
  3. kramasundar says:
    July 28, 2012 at 11:45 am

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

    Reply

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Your email address will not be published.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.