FEATURES

MODE OF DEPOSIT	Foreign Exchange remittance from abroad/from NRE/ FCNR Account/Deposit of Foreign Exchange during visit to India.
PERIOD	1 to 3 Years. W.E.F. 29-4-03 NRE DEPOSITS TERM 1TO 3 YEARS
JOINT HOLDING	Permissible with persons of Indian National and persons of Indian Origin ( resident attorney can also operate).
REPATRIABILITY	Principal and Interest - both Fully Repatriable.
INTEREST	Compounded quarterly.
LOANS	Available to account holder as well as third party resident in India. LOANS IN INDIA-To ACCOUNT HOLDER : For business investment in shares & securities, purchase of house property for own residential purpose and any other personal purpose. LOANS IN INDIA-To 3RD PARTY : For personal or business purpose. LOANS OVERSEAS : Fund based/ non fund based facility for any bonafide purpose.
TRANSFERS	Transfer to NRE/FCNR Account or gift to Resident/NRI permitted.( POWER OF ATTORNEY CAN NOT GIFT.)
ATTORNEY	An attorney may operate the account but can not open the account or gift or premature withdrawal also can not transfer fund to another NRE Account.
NOMINATION	Permissible.
RENEWAL / TRANSFER	The account can also be shifted from one authorized dealer to another.
PREMATURE WITHDRAWAL	Permissible - However For period of less than 12 Months - No Interest payable, Above 12 Months - Subject to Penalty - As per Bank Rules.
WITHDRAWAL/ PAYMENTS ABROAD	Allowed in any convertible foreign currency.
EXCHANGE RATE OF REMITTANCE	At Banks Buying/Market Rate of Exchange.
VARIOUS TYPES OF ACCOUNTS	Saving,Current, Recurring Deposit and Fixed Deposits Account.
TAXABILITY	Fully exempt from Income tax, Wealth tax and Gift tax in India.