Open NRE Account Online In India and Get Lucrative Benefits



A Non-Resident External account or NRE account is one of the most commonly used savings accounts for NRIs. This is an account denominated in Indian Rupees which is fully repatriable to your country of stay and work. This account is under the governance of FERA (Foreign Exchange Regulation Act), and the bank keeps a note of the sources of funds and the limits you maintain. For practical use, it functions just like any savings account. You are issued an international debit card and checkbook with the account. You are generally required to maintain a minimum balance of Rs. 10,000 or its equivalent in foreign currency. This is also the minimum amount needed to open the account. 

You earn quarterly interest on this type of account payable on 31st March, 30th June, 30th September, and 31st December each year. The amount and interest received, both are repatriable, and the funds in this type of account are exempted from paying Income tax in India. Transfer of funds is allowed for personal use such as gifts, education payments, and bills. You can quickly transfer money from this account to an NRO/FCNR account as well as and when required. 

You can utilize a travelers' cheque worth Rs. 10,000 to open this account. If you have an amount excess of USD 10,000, then you need to fill out a Currency Declaration Form (CDF). You can easily have a joint account with another resident or non-resident along with a nominee. Now, these accounts can be easily accessed through online mode of operations. 
Smart Investments in India
Every NRI should now have an NRE account where you can put in money and use it to invest in various investment options. India is the fifth-largest economy and is quickly going to be in the top three in the next five years. It makes complete sense to invest in high yielding investments like mutual funds through this account. 
Another fixed income and steady instrument to invest in is fixed deposit. While FD interest rates in India have been on the lower end of the spectrum, company FDs are the only ones giving returns 1-2% higher than bank FDs. Among these Bajaj Finance FDs are the most coveted owing to their high ratings by CRISIL and ICRA – the leading credit rating agencies.
Bajaj Finance FDs
Bajaj Finance FD is offering a high-interest rate of up to 8.70% for senior citizens for five years. This is one of the best investments to give 51% returns on investment and above as the table shows – 
Investor Type
Interest rates
Amount
Tenor
Return
ROI
New customer
8.60%
Rs 25,000
5 years
Rs 12,765
51%
Senior citizens
8.95%
Rs 25,000
5 years
Rs 13,377
54%
Existing customers
8.85%
Rs 25,000
5 years
Rs 13,202
53%
Ladder these Investments through NRE Account
Using your NRE account, you can create a stream of FDs at periodic intervals which will mature systematically in the future depending on the tenors you choose. This is called as Laddering your investments. This helps create a continuous flow of returns for an extended period. You can auto-renew the same FDs with the available feature in Bajaj Finance if you do not need the money. 

Not only this, but you can take advantage of new features such as multi-where you can create multiple FDs through a single lump sum payment. Another is auto-renewal and then an FD with a debit card to enable easy account opening.