Overview of Non-Resident External (NRE) ‘SUKOON’ Current Account

• Specially designed product for NRIs who do not wish to earn interest on their deposits due to personal reasons.
• To park your overseas earnings remitted to India and converted to Indian Rupees
• Account can be opened either individually or jointly with other NRIs / PIOs / OCIs
• Account types: Current Account
• Funds deposited in the account will be in the form of fresh remittances from overseas or transfer from other NRE / FCNR (B) accounts
• Account can be opened with close resident relatives on "former or survivor" basis
• Account can be withdrawn for making local payments in Rupees

Permissible Credits

• Fresh remittance from abroad through banking channel
• Transfer from another NRE / FCNR (B) account
• Personal cheques drawn on foreign account
• Proceeds of Foreign Currency Notes / Travelers cheques tendered by NRI / PIO / OCI, while visiting India. Amounts in excess of USD 5000 (or equivalent) in currency or USD 10,000/- (or equivalent) in Travelers cheques should be accompanied by a Currency Declaration Form
• Drafts issued by bank / exchange companies abroad
• Interest, dividend and maturity proceeds of investments made in India etc. on repatriable basis

Other Facilities

You can avail following facilities with your NRE account:

• SMS Alerts
• Multy-City cheque book(MCC)
• International or Domestic Debit Card
• Internet Banking
• NRI Family Card

Joint Account Of Non-residents With Residents

NRI/PIO/OCI customers are permitted to open and maintain NRE Sukoon current accounts with their resident relative(s) (as mentioned below) as a joint holder on “Former or Survivor” basis (NRI/PIO/OCI being the former)

NRI/PIO/OCI customers are permitted to open and maintain NRE Sukoon current accounts with their resident relative(s) (as mentioned below) as a joint holder on “Former or Survivor” basis (NRI/PIO/OCI being the former);

• they are members of a Hindu Undivided Family;
• they are husband and wife; or
• one person is related to the other in such manner as may be prescribed;
  • Father (Provided that the term “Father” includes step-father)
  • Mother (Provided that the term “Mother” includes step-mother)
  • Son (Provided that the term “Son” includes step-son)
  • Son’s wife
  • Daughter
  • Daughter’s husband
  • Brother (Provided that the term “Brother” includes step-brother)
  • Sister (Provided that the term “Sister” includes step-sister)