Who can open an Axis Bank NRE Account?

Only NRIs are eligible to open an NRE Account with Axis Bank. It is available in Savings, Current, or Fixed Deposit formats, based on your financial preferences.

Can I open an Axis Bank NRE Account jointly with someone?

Yes, you can open a joint Axis Bank NRE Account with another NRI. However, joint accounts with Indian residents are only allowed on a ‘former or survivor’ basis.

Can I transfer funds from an Axis Bank NRE Account to an NRO Account?

Yes, you can transfer funds from an NRE Account to an NRO Account. However, the transferred amount will be subject to NRO tax regulations.

Are there any currency restrictions for deposits in an Axis Bank NRE Account?

Yes, deposits to an NRE Account must be made in foreign currency. Withdrawals, however, are processed in Indian Rupees.

How do exchange rate fluctuations affect an Axis Bank NRE Account?

Since NRE Accounts involve foreign currency deposits and INR withdrawals, exchange rate fluctuations can impact the value of your funds during transfers or withdrawals.

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Disclaimer: # The investment risk in the portfolio is borne by the policyholder. Life insurance is available in this product. The maturity amount of Rs 1 Cr. is for a 30 year old healthy individual investing Rs 10,000/- per month for 30 years, with assumed rates of returns @ 8% p.a. that is not guaranteed and is not the upper or lower limits as the value of your policy depends on a number of factors including future investment performance. In Unit Linked Insurance Plans, the investment risk in the investment portfolio is borne by the policyholder and the returns are not guaranteed. Maturity Value: ₹1,05,02,174 @ CAGR 8%; ₹50,45,591 @ CAGR 4%. All plans listed here are of insurance companies’ funds.

Axis Bank NRE Account

Managing your foreign earnings while staying connected to India has never been easier. The Axis Bank NRE (Non-Resident External) Account offers a seamless way for NRIs to deposit, repatriate, and manage funds efficiently. With tax-free interest, easy fund transfers, and flexible account options, it’s a perfect solution for your global banking needs.

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What is an NRE Account?

An NRE Account (Non-Resident External Account) is a banking solution designed for Non-Resident Indians (NRIs) to manage their foreign earnings effortlessly in India. It allows NRIs to deposit their income in foreign currency and withdraw it in Indian Rupees. These accounts can be opened as Savings, Current, or Fixed Deposit accounts. Only NRIs are eligible to open an NRE Account, offering them a seamless and tax-efficient way to manage their funds.

Axis Bank NRE Account Benefits

Axis Bank's NRE Account comes with various advantages like:

Quick Withdrawals: Deposit your foreign earnings and withdraw them in Indian Rupees with ease.
Repatriation Flexibility: Seamlessly transfer both the principal and interest back to your country without any restrictions, making fund transfers hassle-free.
Tax Exemptions: Enjoy tax-free interest earnings on your NRE Account, providing a significant financial advantage.
Joint Account Option: Open an account jointly with another NRI. However, joint accounts with Indian residents are permitted only on a 'former or survivor' basis.
Versatile Account Types: Choose from NRE Savings accounts, Current, or Fixed Deposit options based on your financial needs.

How is Axis Bank NRE Account Different from NRO Account?

Here’s how Axis Bank NRE and NRO account they differ:

Feature	Axis Bank NRE Account	Axis Bank NRO Account
Purpose	For managing foreign earnings in India	For managing income earned in India
Repatriation	Principal and interest are fully repatriable	Interest is repatriable; principal has set repatriation limits
Tax Treatment	Interest earned is tax-free	Interest earned is taxable
Joint Account	Can be opened only by NRIs	Can be opened by NRIs or jointly with an Indian resident

How is Axis Bank NRE Account Similar to NRO Account?

Despite their differences, NRE and NRO Accounts share some common features:

Deposits and Withdrawals: Both allow foreign currency deposits and withdrawals in Indian Rupees.
Fund Transfer Capability: Facilitate international fund transfers efficiently.
Exchange Rate Impact: Both accounts are subject to exchange rate fluctuations, influencing fund transfers.

Conclusion

Axis Bank’s NRE Account simplifies managing your foreign income, offering seamless transactions, tax benefits, and global connectivity. Choose the account type that aligns with your financial goals and enjoy hassle-free banking tailored for NRIs.

FAQs

Who can open an Axis Bank NRE Account?

Only NRIs are eligible to open an NRE Account with Axis Bank. It is available in Savings, Current, or Fixed Deposit formats, based on your financial preferences.
Can I open an Axis Bank NRE Account jointly with someone?

Yes, you can open a joint Axis Bank NRE Account with another NRI. However, joint accounts with Indian residents are only allowed on a ‘former or survivor’ basis.
Can I transfer funds from an Axis Bank NRE Account to an NRO Account?

Yes, you can transfer funds from an NRE Account to an NRO Account. However, the transferred amount will be subject to NRO tax regulations.
Are there any currency restrictions for deposits in an Axis Bank NRE Account?

Yes, deposits to an NRE Account must be made in foreign currency. Withdrawals, however, are processed in Indian Rupees.
How do exchange rate fluctuations affect an Axis Bank NRE Account?

Since NRE Accounts involve foreign currency deposits and INR withdrawals, exchange rate fluctuations can impact the value of your funds during transfers or withdrawals.

˜Top 5 plans based on annualized premium, for bookings made in the first 6 months of FY 24-25. Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by any insurer. This list of plans listed here comprise of insurance products offered by all the insurance partners of Policybazaar. For a complete list of insurers in India refer to the Insurance Regulatory and Development Authority of India website, www.irdai.gov.in
*Past 10 Year annualised returns as on 01-04-2025
*All savings plans are provided by the insurer as per the IRDAI approved insurance plan. Tax benefit is subject to changes in tax laws. Standard T&C Apply
^The tax benefits under Section 80C allow a deduction of up to ₹1.5 lakhs from the taxable income per year and 10(10D) tax benefits are for investments made up to ₹2.5 Lakhs/ year for policies bought after 1 Feb 2021. Tax benefits and savings are subject to changes in tax laws.
#The investment risk in the portfolio is borne by the policyholder. Life insurance is available in this product. The maturity amount of Rs 2 Cr. is for a 30 year old healthy individual investing Rs 18,000/- per month for 30 years, with assumed rates of returns @ 8% p.a. that is not guaranteed and is not the upper or lower limits as the value of your policy depends on a number of factors including future investment performance. In Unit Linked Insurance Plans, the investment risk in the investment portfolio is borne by the policyholder and the returns are not guaranteed. Maturity Value: 1,06,79,507 @ CAGR 4%; 2,12,15,817 @ CAGR 8%. All plans listed here are of insurance companies’ funds. *Tax benefits and savings are subject to changes in tax laws. All plans listed here are of insurance companies’ funds.
¶Long-term capital gains (LTCG) tax (12.5%) is exempted on annual premiums up to 2.5 lacs.
**Returns are based on past 10 years' fund performance data (Fund Data Source: Value Research).