Hey there, My fiance lives abroad and we often need to transfer money back and forth. I recently found out that there is an entire process with rules and regulations set by the RBI on transferring money to NRE accounts. There are certain things that you need to remember. Take a look below.
Can we deposit cash in NRE account from India ?
To answer your question. You cannot deposit cash into an NRE account. You can transfer funds from one account to another. You cannot transfer money into a NRE account from a savings account in India.
Can I deposit money to NRE account from India ?
You can transfer funds from an NRO account to an NRE or Non-Resident External account. Reserve Bank of India has capped the maximum fund that can be transferred at USD 1 million a year.
Can I deposit money in NRE account from India ?
You can transfer or deposit money in an NRE account by mailing foreign currency cheques and demand drafts.
Can we deposit money in NRE account from India ?
Another method to deposit money is converting your residential account to a NRE account. You can transfer money from NRE account to NRE account. On the other hand, you can transfer money from NRO account to NRE account.
This is all I know about can I deposit money in nre account from India.
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