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Open NRI Savings Account Online And Avail Various Benefits|YES BANK

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Many NRIs still have family, property etc back home in India or maybe plans to return to India in the future, to keep everything functioning and smooth, owning an NRI savings account is a great idea. Also, these NRI bank accounts have many benefits as well. To understand these benefits, continue reading.

Types of NRI Savings Bank Accounts at YES BANK

 

NRE SAVINGS ACCOUNT

NRO SAVINGS ACCOUNT

SEAFARER SAVINGS ACCOUNT

Type of account

NRE Savings Account, it lets you transfer your earnings conveniently to India with complete security. You can always repatriate the funds in the account along with the interest earned at any point of time and you don't even have to pay tax on the interest amount.

It allows you repatriating funds after applicable tax payments to operating the account through the various direct banking channels. Making the experience hassle-free from any corner of the world.

As a seafarer account holder, your job requires you to be away from home for several months at a stretch. Just as a compass helps you to steer at sea, you will need someone to help your finances in the right direction.

 

Understand Nri Savings Account Benefits

Now, depending upon which NRI account you choose from, the following benefits will be applicable to you.

1. Tax Benefits: Different options have different taxation clause, based on what suits your requirements, you may or may not be exempted from taxes. This will help you choose the right type of NRI account for you.

2. Repatriation Advantages: You can avail an advantage known as repatriation benefits. BothNRO & NRE accounts allow easy transfer of funds as you can repatriate both the interest as well as the principal abroad. While funds in NRE accounts are totally and freely repatriable, funds in NRO accounts are repatriable only after payment of applicable taxes.

3. Minimal Balance requirement: You need not maintain a high balance in your NRO or NRE accounts. Various banks have dropped their minimum balance requirements to just INR 10,000.

4. Interest rates: YES BANK offers 6% interest rate which is one of the highest rates in the market.

5. RTGS/NEFT: Depending upon which account type you choose, you may get free RTGS/NEFT payment facility through Net Banking.

6. Miscellaneous Benefits: ATM cash withdrawals, payment of utility bills etc may also be applicable to you based on the type of account you choose.

These were some of the benefits of opening an NRI account that you should know prior to choosing one for yourself. If you’re planning to open an NRI account and require additional assistance, visit a YES BANK branch near you or get more information on our website here: www.yesbank.in

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