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NRE Account-Learn How To Make More Money With NRE Account
NRE Account is a facility provided by all leading banks of India for Non-Resident Indians, which is maintained and operated in Indian Rupees(₹) only. When an NRI sends his foreign earnings e.g. in US$, the Indian bank converts this into INR and deposits the same in his NRE account. Interest income earned from this account is completely tax-free. No tax is charged on the principal amount either. This account can only be opened by an NRI or person of Indian origin.