Non-Resident (External) Account can only be opened in the name of NRI individuals – single/joint. Interest earned on NRE FDs is tax-free in India, and the principal amount and interest are fully repatriable. NRE FDs also offer higher interest rates than a typical savings account.
Here is a look at the latest NRE FD interest rate of big banks.
(NRE FD interest rates as on March 18, 2025; interest rates from bank websites.)
