i am thinking of opening an NRE acct with sbi. can i remit money to NRE and keep it in rupees. will i be able to transfer money from NRE to NRO and resident savings ac****..and will i be abel to withdraw money in Rs using ATM from my NRE acct. so far i have been doing it to my NRO and other savings acct..but losing the interst on TDS...hrd there is no TDS on interest earned in NRE...but want to know that i should be able to transfer/take the money easily as I do with other accounts
You can withdraw using intl debit card. TDS wont be deducted if you pay the tax at source. There is no double tax now.
Hey, As per my knowledge, you must open an NRE account if you want to easily transfer money, avoid taxes and maintain your funds in INR. You can transfer funds from NRE to an NRO account or resident savings account. You’ll also be able to withdraw money in INR. For more details you can refer Opening an NRI Bank Account? The Difference Between NRE and NRO Accounts Good Luck!
