What is the full form of NRE?
NRE: Non-Resident Rupee
The Full form of NRE is the non-resident rupee. The NRE is a type of account. It is an Indian rupee-denominated account. It is fully secure bank account If you work outside India and earn your money in dollars or any other currency expects Indian rupee. This Account can be any form like saving, current, recurring or fixed deposits.
About NRE Account
The foreign currency you deposit in this account is converted in Indian rupees according to its current exchange rate. You can also transfer your money or funds to a foreign account from your NRE account without any restriction.
NRE account gives you an international debit card that you can use to withdraw money 24*7. Mutual funds and investment also become easy if you link your NRE account number with your investment account.
NRE accounts are mainly used to make an investment in India, personal banking and carrying out business.
You can learn about NRE account at cleartax
Final Words –
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