Choose NRE accounts if you…

(Primary reason) want to park your overseas earnings remitted to India converted to Indian Rupees; want to maintain savings in Rupee but keep them liquid; want to make a joint account with another NRI; want Rupee savings to be freely repatriable.

Choose NRO account if you…

(Primary reason) want to park India based earnings in Rupees in India; want account to deposit income earned in India such as rent, dividends etc; want to open account with resident Indian (close relative)

NRE bank accounts are accounts that hold repatriable money. That is, money in such accounts can be converted back to a foreign currency. NRO bank accounts, on the other hand, are accounts that hold non-repatriable money. Money in NRO accounts will stay as Indian rupees and cannot be readily converted back.

If an investor has a choice, we would recommend using an NRO account for their mutual fund investing. The reason for this is the documentary requirements for operating an NRO linked mutual fund investing is less than that for an NRE account. Since money in NRE accounts are repatriable, mutual fund companies often ask for bank statement proof for every transaction to show that the money indeed did originate from an NRE account (FIRC rules). With an NRO account, there are no such requirements.

A note about mariners

If an NRI/PIO/OCI is earning income originating in India (such as salary, rent, dividends etc.) he/she is only allowed to deposit it in NRO account. Deposit of such earnings is not permitted in NRE account.

Why Invest in India?

GDP of 7 largest economies
S.No. Countries GDP(USD Tn) GDP Growth Rate
1. US 19.4 2.3%
2. China 12.2 6.9%
3. Japan 4.9 1.7%
4. Germany 3.7 2.2%
5. United Kingdom 2.6 1.8%
6. India 2.6 7.3%
7. France 2.6 1.8%
Back of the Envelope Calculation for your returns
NRE Account
NRO Account
Account used to park overseas earnings which have been remitted back to India
Account used for Indian Based Earnings- For Example Rent from a flat owned in India, Stock Dividends etc.
Freely Repatriable
Repatriation Amount limited to USD 1 MM
Taxation at par with Indian Investor
Joint Holder can be another NRI- Not Indian Resident
NRO can be held with NRI as well as Indian resident

Process chart for Investing

Jan 1, 70

Complete your KYC- This is a one-time requirement. You can check your KYC on

Jan 1, 70
Jan 1, 70

If KYC is not Completed- below documents would be required to complete it.

1) Signed KYC Form
2) Indian Address Proof- Self Attested
3) Overseas Address Proof- Self Attested
4) Pan Card- Self Attested

Jan 1, 70
Jan 1, 70

The investor should have relevant NRE/ NRO accountThe investor should have relevant NRE/ NRO account

Jan 1, 70
Jan 1, 70

We will create a profile for you on our portal- you can invest in top funds across Mutual Fund houses from our portal

Jan 1, 70

Frequently Asked Questions

US/ Canada based investors

Due to additional regulatory and compliance requirements for US and Canada Based Investors- only select Mutual Funds take investment from US & Canada based NRI Investors. Within these Mutual Funds- only select funds accept online investment.

Currently the below funds accept investments from US and Canada based investors

d. ICICI Prudential MF
e. Nippon India MF
f. L&T MF
h. Axis MF

Can I automate a monthly Investment

Yes- Monthly investments can be started / stopped / changed through your with Affluent Capital Account

Process of Redemption

Redemption can be done online by logging into your Affluent Capital Account.

Tax Consideration

On-shore taxation would be as mentioned in the NRI / NRO section above. There can be additional tax implications specially once the money is repatriated back- this would vary across countries. Your local tax-advisor will be able to help you with that.