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NRE Savings Account

Non Resident External (NRE) Savings Account Non Resident External (NRE) Savings Account

Allows you to freely access funds in rupees while in India as well as convert the same funds into a foreign currency and repatriate it abroad:

  • INR account for your foreign income earned outside India
  • Earn  6% interest p.a. on your savings balance
  • Free issuance of pay orders and demand drafts
  • Free personalized cheque book
  • Competitive exchange rates for money transfer to your Westpac India account
  • Fast credit of funds from your Westpac Australia account to Westpac India account
  • Interest earned not taxable in India
  • Funds held in the account and interest earned are fully repatriable
  • Average quarterly balance (AQB) requirement of INR 100,000.

Download account opening form (839KB)

Exchange rates

Current rates against INR at 17/10/2018 04:46 PM
USD 72.37
GBP 95.32
EUR 83.62
JPY 64.18
SGD 52.35

Things you should know

This information has been prepared by Westpac Banking Corporation ABN 33 007 457 141, AFSL 233714 ('Westpac'). The exchange rates provided are indicative only as at the time and date shown, are subject to market movements and therefore change continuously; they should not be relied upon as an accurate representation of any final pricing. You should contact Westpac for up-to-date pricing prior to dealing. Transactions may be subject to certain fees and charges.

For further enquiries relating to foreign exchange please visit your local branch, contact your Westpac Relationship Manager or alternatively call our Mumbai Branch on +91 22 6627 1000.

This information has been prepared without taking account of your objectives, financial situation or needs. Because of this you should, before acting on this information, consider its appropriateness, having regard to these things, and seek independent specialist advice as necessary. Neither Westpac nor any director, officer, employee or associate of Westpac or of any related entity make any express or implied representation or warranty regarding the accuracy or completeness of this information.

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