What are NRI deposits called as?

NRI deposits are called as Non-Resident External (NRE) accounts, Non-Resident Ordinary (NRO) accounts, or Foreign Currency Non-Resident (FCNR) accounts. Each type of deposit has its own unique benefits and purposes.

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NRE accounts are for NRIs earning in foreign currency, NRO accounts are for NRIs earning in India, and FCNR accounts allow deposits in foreign currencies. These deposits serve as a way for NRIs to manage their finances and earn attractive interest rates in India.

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