Opening up an NRI account is no big deal. If you choose the online route, you will soon realize how simple the whole process is. If you are a non resident Indian, you can open up your bank account sans any lengthy documentation. You are allowed to open multiple accounts in a single application. It takes the tension away from you, as you and your spouse can apply for it simultaneously.
Besides this, you can open up savings as well as investment account at the same time. Avoid filling up the form twice as you can do it with ease in a single application. In case you have any doubts, make use of the user friendly PDF document. The most popular account for a non resident Indian is the NRE or Non Resident external account. If you want to invest in Indian companies, you can freely do so with the help of an NRE account. An NRE account permits you to transfer your funds abroad. Although, you stay abroad you can continue to enjoy your income earned in India. Your income earned through rent, shares, debentures, interest on your FD or savings amount can be held in NRE account. Transfer your income earned in India wherever you go.
NRE account offers better interest rate on savings in comparison to the NRO account. Since it is on a repatriation basis, you can transfer the income abroad. Your nominee in India can operate your account too. With zero tax liabilities, you can enjoy your income to the maximum. You can choose a bank which offers better features on your NRI account.
Article Source: http://EzineArticles.com/?expert=Vijay_K_Shetty
