WebDec 7, 2016 · Since he cannot deposit into my NRE account I guess he has to deposit it into my NRO account. A repatriate-able loan as above can be deposited into NRE Account. Is there any illegality here doing such transaction? No. Please ensure proper paper work to show this as loan and document the money trail. WebNov 13, 2016 · Can I deposit my cash in the NRE account? You cannot deposit INR cash in the NRE account. You will need to make a request for opening of a NRO account in the same customer Id through the Internet banking logged in section or by calling customer care or placing a request at the branch in India.
Difference between NRE & NRO Accounts …
WebDec 31, 2024 · Can someone else deposit money in my NRE account? Yes. You can transfer funds from NRO to NRE account after providing proper documentation stating that all the taxes are paid on the funds being transferred to the NRE Account because both the principal and interest earned on NRE Deposits are fully and freely repatriable.2024-03-23 WebHere are some features of an NRO Account you can consider while opening an account-. With an NRO Account, you are free to repatriate or transfer the interest you earn on the principal amount deposited. You can also transfer the principal amount within specified limits. As per rules, you can transfer up to USD 1 million in one financial year ... images of the care bear stare
How to Deposit Money Into Someone Else
WebDec 16, 2024 · Open an NRO Savings Account. Attractive rates: DBS Treasures offers higher interest rates on NRI savings accounts and preferential rates on remittances. Repatriate funds: If you have sold a property or liquidated investments and want to send the money to your country of residence, you can deposit the funds in an NRO account and transfer it ... WebCurrency Option for Fund Deposit. One of the major differences between an NRE and NRO Savings Account is the option each of them offer for deposit of funds. An NRE Savings Account will only allow you to deposit funds in a foreign currency while in an NRO Savings Account, you can also deposit funds in Indian Rupees. WebIts best if you had your wife send funds into NRE account. Direct transfer as much as know is not allowed. Having said that, it is possible to transfer funds out of India via proper paperwork, there is also a limit [quite large] on the amount that can be transferred a year. Get a CA to help you with the paperwork. Share Improve this answer Follow images of the cars band