Features of NRE Savings Account

Tax Benefits

Interest earned is exempt from Indian income tax

Repatriation

Free and full repatriation of principal and interest

Interest Rates

Competitive Interest rates on NRE Savings Account, compounded quarterly

Digital Banking

Free Internet Banking, Mobile Banking, Email & SMS Alerts

Debit Card

Mastercard Crown International / Visa Platinum / International Debit Card

Airport Lounge Access

Complimentary access with select Debit Cards

Fund Transfers

Free NEFT, RTGS, IMPS transfers

Customer Support

RM support at overseas locations

Account Opening

Online or offline with Passport, Visa, PAN, Address proof

Eligibility for NRE Savings Account

  • Applicant must be a Non-Resident Indian (NRI), Person of Indian Origin (PIO), or Overseas Citizen of India (OCI).
  • Valid proof of NRI/PIO/OCI status is required (such as Passport, Visa, or OCI card).
  • Submission of identity and address proof as per bank guidelines.
  • Account can be opened singly or jointly with other eligible NRIs/PIOs/OCIs.

Eligibility for NRE Savings Account

  • Applicant must be a Non-Resident Indian (NRI), Person of Indian Origin (PIO), or Overseas Citizen of India (OCI).
  • Valid proof of NRI/PIO/OCI status is required (such as Passport, Visa, or OCI card).
  • Submission of identity and address proof as per bank guidelines.
  • Account can be opened singly or jointly with other eligible NRIs/PIOs/OCIs.

How to Open an NRE Savings Account

  • 1
    Visit Federal Bank Website
    Go to the official Federal Bank website or nearest branch.
  • 2
    Choose NRE Savings Account
    Select the NRE Savings Account option and review features.
  • 3
    Fill Application Form
    Complete the online or offline account opening form.
  • 4
    Upload/Submit Documents
    Provide passport, visa, address proof, and recent photographs.
  • 5
    Verification Process
    Bank verifies your documents and eligibility.
  • 6
    Account Activation
    Once approved, your NRE Savings Account is activated and ready to use.

Documents Required for an NRE Savings Account

To open an NRE Savings Account, you need to provide the following documents:

✔ Passport: Copy of the first and last pages showing name, date of birth, nationality, and signature.
✔ Valid Visa / Work Permit: Employment, residence, or student visa as applicable.
✔ Overseas Address Proof: Utility bill, bank statement, or government-issued ID from the country of residence.
✔ PAN Card or Form 60: Mandatory for all NRI customers.
✔ Recent Passport-size Photographs: As per bank specifications.
✔ FATCA/CRS Declaration: Including Tax Identification Number (TIN) or equivalent.

Fees and Charges for an NRE Savings Account

Below are the key fees and charges applicable for Federal Bank NRE Savings Accounts:

✔ Average Monthly Balance (AMB): Maintain the required balance as per account type.
✔ Non-Maintenance Charges: Applicable if AMB falls below the required level.
✔ Cash Handling Charges: Beyond free limits, charges may apply.
✔ ATM Transactions: Free transactions up to a limit; charges apply thereafter.
✔ International ATM Withdrawal: Charges apply per transaction.
✔ Debit Card Annual Fee: Varies based on card type and features.
✔ Fund Transfers: NEFT, RTGS, IMPS – as per bank policy.
✔ Cheque Book & Other Services: Charges may apply beyond free limits.
✔ International POS/Online Transactions: Forex markup applicable.

For the complete and latest details, please visit Federal Bank Rates & Charges.