| Account Type | NRE | NRO |
| Currency | INR | INR |
| Purpose Of Account | NRE Accounts are used to hold overseas savings remitted to India after converting to INR | NRO Accounts are used to hold Indian income like rent, dividend etc. |
| Repatriation | Fully repatriable | Only interest on NRO account balance (after deducting TDS) |
| Types Of Account | Savings Bank Account Fixed Deposit Account | Savings Bank Account Fixed Deposit Account |
| Tax | Fully exempt | 30% tax deducted at source |
| Local rupee funds | Not allowed | Can be deposited |
| Advantages | Rupee account with full repatriation | Account for local Deposits |
| Joint Holding Facility | Only with NRIs | Both with Resident/Non-Resident |
*Source: TimesofMoney.com
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