NRE Savings Account for NRIs in 2025

Details of Top 10 NRE Account Saving Banks in India

Some of the important details and key features related to some of the top NRE savings bank accounts for Non-Resident Indians in 2025 are as follows:

1. State Bank of India (SBI)

   The SBI NRE Savings Account is designed for Non-Resident Indians (NRIs) to securely manage income earned abroad, offering tax-free interest and easy repatriation. It provides convenient access to funds with attractive features for global banking.

   Key Features of SBI Bank NRE Savings Account:

   • Tax-Free Interest: Interest earned is exempt from Indian income tax, maximizing returns.

   • Full Repatriability: Both principal and interest can be freely repatriated to your country.

   • Multichannel Access: Manage accounts seamlessly via mobile, online banking, and SBI branches.

   • High-Interest Rate: Competitive interest rates on deposits, compounded quarterly.

   • Joint Accounts Allowed: Can be opened jointly with another NRI or Resident Indian relative.

2. Punjab National Bank (PNB)

   Punjab National Bank’s (PNB) NRE Savings Account offers NRIs a secure way to manage foreign earnings in India, fully repatriable and tax-exempt.

   Key Features of PNB NRE Savings Account:

   • Currency Conversion: Funds are held in INR, with foreign currency remittances converted at current exchange rates.

   • Full Repatriability: Both principal and interest can be freely transferred abroad.

   • Tax Benefits: Interest earned is exempt from Indian income tax.

   • Joint Account Option: Available for NRIs or with a resident relative.

   • Digital Banking Access: Manage funds online via PNB’s banking portal and app​.

3. HDFC Bank

   HDFC Bank’s NRE Savings Account is designed for NRIs to deposit foreign earnings in rupees, offering tax-free interest, repatriable funds, and easy access from abroad. It enables efficient fund transfers, investments, and withdrawals in India.

   Key Features of HDFC Bank NRE Savings Account:

   • Tax-Free Earnings: Interest is exempt from Indian income tax, enhancing savings.

   • Easy Transfers: Seamless fund transfers to and from India via NetBanking.

   • International Debit Card: Access cash and shop globally with a dedicated card.

   • Investment Opportunities: Link to Demat accounts for stocks or mutual fund investments.

   • Mandate Option: Assign a resident to operate the account for local access.

4. ICICI Bank

   The ICICI Bank NRE Savings Account is designed to help Non-Resident Indians (NRIs) manage their overseas earnings in India with ease and tax benefits.

   Key Features of ICICI Bank NRE Savings Account:

   • Tax-Free Interest: Earn tax-free interest on your deposits in India, exempt from Indian income tax.

   • Easy Repatriation: Freely repatriate both the principal and interest to your foreign accounts.

   • Joint Account Option: Open with another NRI or a resident relative under specific conditions.

   • Deposit Flexibility: Accepts foreign currency deposits, which are converted to Indian Rupees.

   • Wide Investment Scope: Funds can be used for investing in Indian assets like mutual funds and real estate.

5. Axis Bank

   The Axis Bank NRE Savings Account offers seamless banking for NRIs, allowing them to save in Indian Rupees with attractive features tailored for international financial needs.

   Key Features of Axis Bank NRE Savings Account:

   • Tax-Free Interest: Earn tax-free interest on your NRE savings, fully repatriable to your resident country.

   • Global Debit Card Access: Use the international debit card worldwide for ease of access and payments.

   • Flexible Fund Transfers: Enjoy quick, hassle-free fund transfers to India through services like Axis Remit.

   • Loyalty Rewards: Earn eDGE Loyalty Rewards on transactions, redeemable for exclusive offers.

   • 24/7 Support: Access customer service, SMS alerts, and account management through mobile banking from anywhere.

6. YES Bank

   YES Bank’s NRE Savings Account offers seamless banking for NRIs, providing easy fund transfers, tax-free interest, and access to a wide network. It’s tailored to help NRIs manage their finances in India effectively.

   Key Features of YES Bank NRE Savings Account:

   • Tax-Free Interest: Interest earned is exempt from Indian income tax.

   • Flexible Fund Transfers: Enjoy smooth inward and outward remittances.

   • Easy Access: Accessible through online and mobile banking, globally.

   • Global Debit Card: Offers international debit card usage.

   • High Interest Rates: Competitive rates to maximize savings potential​.

7. Bank of Baroda

   The Bank of Baroda NRE Savings Account allows NRIs to deposit foreign income in Indian currency, earning competitive interest rates with tax-free returns. It also facilitates smooth repatriation and access to banking services worldwide.

   Key Features of Bank of Baroda NRE Savings Account:

   • Free Repatriation: Both principal and interest can be freely repatriated without restrictions.

   • Tax-Free Interest: Interest earned is exempt from Indian taxes.

   • Accessible Globally: Offers internet and mobile banking for 24/7 access.

   • Low Minimum Balance: Minimal monthly balance requirements based on the account location.

   • Debit Card & Cheque Facilities: Free debit card and cheque book for easy transactions.

8. Union Bank of India

   The Union Bank of India NRE Savings Account is designed for NRIs to easily manage and repatriate foreign earnings in Indian Rupees, providing tax benefits and easy fund transfers globally.

   Key Features of Union Bank NRE Savings Account:

   • Full Repatriability: Both principal and interest are fully repatriable without restrictions.

   • Tax Exemptions: Interest earned is free from Indian income tax.

   • Global Access: International debit card with a daily withdrawal limit up to ₹1 lakh and a POS limit of ₹3 lakh.

   • Joint Account Option: Can be jointly held with another NRI or a resident relative on a “former or survivor” basis.

   • Free Transactions: Unlimited NEFT, RTGS, and IMPS transactions are allowed within India.

9. HSBC Bank

   The HSBC Bank NRE Savings Account offers Non-Resident Indians (NRIs) a convenient way to manage their income earned abroad in a tax-efficient manner. This account provides a safe and flexible banking solution with competitive interest rates and easy access to funds.

   Key Features of HSBC Bank NRE Savings Account:

   • Tax Exemptions: Interest earned is tax-free in India, offering significant savings for NRIs.

   • Multi-Currency Facility: Allows transactions in multiple currencies, facilitating global banking needs.

   • Online Banking: 24/7 access to account management and fund transfers through a secure online portal.

   • Free International Fund Transfers: Enjoy free inward remittances and easy money transfers globally.

   • Dedicated Relationship Manager: Personalized support to assist with banking needs and inquiries.

10. IDFC First Bank

    IDFC First Bank NRE Savings Account is designed for Non-Resident Indians. This account offers attractive features and convenient banking solutions for managing funds in India while ensuring easy repatriation.

    Key Features of IDFC Bank NRE Savings Account:

    • Attractive Interest Rates: Enjoy competitive interest rates on your savings, helping your funds grow effectively.

    • No Account Maintenance Charges: Experience zero maintenance fees, making banking cost-effective.

    • Instant Fund Transfers: Utilize seamless fund transfer options, including NEFT, RTGS, and IMPS for hassle-free transactions.

    • Online Banking Services: Access comprehensive online banking features, including account statements and transaction management, 24/7.

    • ATM Access Worldwide: Benefit from global ATM access for easy withdrawals, ensuring financial flexibility wherever you are.