Key differences between FCNR, NRO, and NRE account are tabulated below:Ĭurrent account/ savings account/ Recurring Deposit/ Fixed Deposit For complete details, please visit Terms and Conditionsĭifference between FCNR, NRO and NRE accounts In case of FCNR (B) FD booking request through wire transfer/ remittances, the request for FCNR (B) FD will be processed only if the remitter and the beneficiary name matches.The deposit would be booked with the net amount received after deducting appropriate charges/ fees as may applicable at the time of remittance/ clearance of the cheque.No restriction on taking loans against FCNR accounts in India and abroad.Interest earned on FCNR deposits is tax-free.Full repatriability of funds, whether principal or interest.Better Foreign currency yields with attractive FCNR rates.Denominated in foreign currency, so no impact of exchange rate fluctuations.Here are four benefits of holding an FCNR account: Quick processing: Electronic Deposit Confirmation Advice (E- DCA) on your e-mail ID in 1 working day (if you have subscribed for account statement via e-mail).Attractive loan options: Loans up to 85% of your deposit at attractive interest rates (Maximum Rs.
