Once you have gone through all the rules and the various methods by which you can transfer money from nro to nre account. As per rbi guidelines nris are allowed to transfer funds from nro bank account to nre account up to a total limit of usd 1 million per financial year.
Hdfc bank nro accounts also come with domestic debit atm cards.
How to transfer money from hdfc nre to nro account. Well since the nre account is maintained in indian rupees there is no restriction on transferring your money from one nre account to another nre nro fcnr or resident saving account. This means if you and your wife have two separate nre accounts you can easily transfer money from your nre account to your wife s nre account. Signed pan income tax returns copy filed in india to be submitted to fund transferring bank branch.
You can also transfer money from one nre account to another. Here are the necessary steps and processes to be followed to have a smooth remittance to an nre account. All documents should be signed by respective account holder who is availing this facility.
This card allows you to withdraw cash or shop in india. Transfer funds from abroad in a freely convertible foreign currency present foreign currency notes traveller s cheques brought in by you on your visit t o india. The main differences between an nre and nro account are surrounding funds used to open an account taxation and repatriability.
It is mandatory to have nro savings bank and nre savings bank account with hdfc bank to avail transfer of funds facility under usd 1 million scheme. Appoint your loved ones in india as a mandate to operate your account and also give them an add on debit card for withdrawing cash in india. An nro account is an abbreviation for a non resident ordinary account while an nre account is an abbreviation for non resident external account.
Difference between nre and nro account. You will see that nre to nro transfers are not all that complicated provided. However you can transfer money from nro to nre account.
To transfer funds from nro to nre an nri needs to submit the following documents a cheque or a letter for funds transfer from nro to nre account signed by the customer. To transfer money to your nre account you can. On may 7 2012 the reserve bank of india rbi permitted funds transfer from nro to nre account subject to certain conditions.
Transfer of funds from nro account to nre account where nro account is from a different bank. Customer should choose only one authorised dealer at a time to avail facility of usd 1 million. An nre account can only be opened using foreign currency while nro accounts can be opened with both foreign funds and indian rupees.