If you are a Non Resident Indian and if you need to buy a property in Mumbai or India and if you are sending a remittance from overseas for the same then it is imperative that you have a NRE Account. This will help you in lot many ways and it will in future help you in case you would like to repatriate rent income or proceeds after sale etc.
With an NRE account, you can manage all your Indian Rupee transactions be it paying for your home loan EMI or sending money to your loved ones, using your overseas savings.
You can open the NRE Account as a savings or a current account and it can also be opened jointly with other NRIs.
HSBC In India offers the following Features & Benefits
>With this account, you can send money to India for FREE*. And fast!
>Both principal and interest are freely repatriable and interest earned is tax free** in India
>Access your accounts from over 1 million HSBC/VISA/Plus ATMs and purchase at over 26 million establishments across the world
>FREE Debit card# for your family for giving them instant access to your account
>Manage your Rupee payments with ease through Internet Banking – place an online request for free funds transfer to 3rd party accounts in India or choose the free Rupee Draft Delivery.
>You can also transfer funds to 3rd party accounts in India through RTGS at a charge of INR 250 (plus applicable taxes) per instruction which can be submitted vide duly filled RTGS form, at any HSBC branches in India or an NRI Centre in the country of your residence. RTGS done through Internet Banking would be charged at INR 50 (plus applicable taxes) per instruction. Click here to download the RTGS form.
>Get anytime, anywhere account access: Track, access and operate your account from across the world, 24/7 through Internet Banking and Phone Banking
>You can also avail the Standing Instructions facility to manage your monthly payments
*Terms and Conditions apply. For more details click on - USA Remittances, UK Money Transfers, UAE Remittances, Others Remittances.
**Indian tax information given herein is general and is not meant to constitute, and therefore should not be construed, as advice. The tax consequences are also based on individual facts and circumstances. As such, prior professional tax advice should be sought to fully understand and appreciate the Indian tax implications. We assume no obligation or liability of any nature whatsoever by issuing this document. For US Citizens and US Residents, if necessary, you should consult your tax advisor for questions regarding the US tax treatment of these deposits. If you are resident in any other country, you should consult your tax advisor regarding the tax treatment of these deposits in your country of residence.
#Free debit card for a nominated family member refers to a family member appointed with the Power of Attorney for an NRI account holder.
MINIMUM DEPOSIT - NRE Savings Account INR 25,000