Open NRE, NRO & FCNR accounts all at one place.

Open and manage all your accounts digitally and get exclusive interest rates of up to 8.25%*

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An account you can truly call digital.

Your account stays 100% digital no matter where you operate it from

Get a dedicated advisor for all-things-wealth.

Personalised assistance for end-to-end money matters

Vance account perks: ZERO transfer fee.

Send money from Vance to your Vance NRE or NRO account with ZERO transfer fee

Our priority:
Top-notch security.

A layer of 256-bit encryption on all your data
All transfers & money handled by regulated financial institutions
Money insured up to ₹5,00,000 by RBI regulated banks

Frequently Asked Questions

What’s the process to open Vance NRE, NRO & FCNR accounts?

Vance offers a 100% seamless and online method for opening NRE, NRO and FCNR accounts. All you have to do is simply fill in KYC details on the Vance app, and your account should open within 5 to 6 working days. Additionally, we handle the complete end-to-end process including notarization of documents, in partnership with YES Bank.

Are there any taxes on repatriation?

For NRE accounts, there are no taxes on repatriation. However, for NRO accounts, the repatriated amount may be subject to taxes. The amount is considered as income from the previous years and tax is deducted at source.

Is there a limit to the amount of money that can be deposited in an NRE/NRO account?

For NRE accounts, there's no limit to the amount that can be deposited, as long as the funds are from abroad or from another NRE/FCNR(B) account. For NRO accounts, there's also no limit to deposits from legitimate sources of income, including both, in India and abroad.

How do I transfer funds to my NRE/NRO account from my overseas account?

NRE and NRO accounts facilitate foreign currency deposits. Deposit your foreign currency, which will be converted into INR at the best exchange rate through our remittance service. This is advantageous for NRIs and PIOs earning in the UK and remitting funds to India. Provide your NRE or NRO account details, along with your bank's IFSC code and the purpose of the remittance. Vance will convert the foreign currency into INR at the prevailing exchange rate and credit it to your account.

Who is eligible to open an NRE/NRO account?

NRE (Non-Residential External) or NRO (Non-Residential Ordinary) accounts can be opened by individuals holding the status of Non-Resident Indian (NRI) or Person of Indian Origin (PIO). These accounts are designed for these individuals to manage income earned in India and abroad. The NRI or PIO status is determined by the individual's period of stay in India as per the Foreign Exchange Management Act (FEMA) and the Income Tax Act.

Can I repatriate funds from my NRE/NRO account?

Funds in NRE accounts are freely repatriable, which means you can transfer them back to your foreign account without any restrictions. For NRO accounts, repatriation is subject to certain conditions. India allows up to USD 1 million per financial year to be repatriated from NRO accounts, subject to taxes.

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* Grow your savings with returns as high as 8.25% p.a. Read Terms and Conditions while opening a Fixed Deposit to know more.