Best NRE Account in India for NRIs in 2025

Most NRIs (Non-resident Indians) choose an NRE account for multiple purposes such as savings, sending money to their family, and diversifying their portfolio. 

However, with so many bank options, it would be overwhelming to choose the best NRE account in India. But don’t worry — this guide is here to help you! 

What is an NRE Account? 

An NRE account (Non-Resident External Account) is a type of bank account in India that is quite popular among NRIs and Overseas Citizens of India (OCIs). With this account, you can manage your income from abroad and convert deposits in foreign currency into Indian rupees (INR). This amount can then be used for investment plan or other financial purposes. 

Who Can Open an NRE Account?

If you belong to any of the following categories, you can open an NRE account —

• NRI
• PIO (Person of Indian Origin)
• OCI

Note: PIO was merged with OCI in 2015.

What Documents Are Required to Open an NRE Account?

To open an NRE account in India, you will need the following documents —

• Valid passport and visa
• Overseas address proof 
• Current passport-size photographs
• Account opening form

What are the Benefits of NRE Account? 

Here are the major NRE account benefits that you can enjoy as an NRI — 

Which Bank is Best for NRE Account in 2025?

Here is the list of the best banks for NRE accounts in India along with the key features — 

DBS Bank NRE Account

DBS Bank's NRE account allows NRIs to deposit their foreign-earned money in India and repatriate it. It also offers investment opportunities for them with joint or individual accounts. 

• The account offers an attractive interest rate to maximise your savings 
• Provides flexible management of your funds with tax-free interest
• You can enjoy convenient banking services with an Internet banking facility 
   

HSBC NRE Bank Account

HSBC Bank is known for its trustable banking and finance services. With the NRE Bank Account on the HSBC Bank, you can save your money in Indian currency and use it for various purposes. 

• Minimum balance required to operate an NRE Bank account 
• Tax-efficient option to save more on your earnings 
• You can easily transfer the funds to overseas bank accounts 

Axis NRE Bank Account

With its extensive international banking and financial services, Axis Bank is a top choice among NRIs for handling their foreign money. It features exclusive benefits, ensuring a seamless banking experience for customers. 

• Tax benefits with an Axis NRE Bank Account  
• Access to convenient mobile and internet banking services 
• Utilise the AXIS Bank NRE account for investment opportunities 

SBI NRE Account

As India’s largest bank, SBI offers an NRE account that lets you enjoy unparalleled banking services and customer support. It features several facilities to meet your various needs. 

• Save and manage your overseas earnings without any difficulties 
• Range of account types available 
• Manage your SBI NRE account from anywhere with SMS alerts and internet banking services 

HDFC NRE Account

HDFC, one of India’s leading private banks, offers various financial and banking services for NRIs to handle and manage their foreign-earned income. 

• Easily transfer funds with high interest rates
• You can shop with an international debit card whenever you want 
• Enjoy a free email statement facility and personalised chequebook 

Yes Bank NRE Account 

As an NRI, you can get lucrative options to grow your foreign income with tax-free interest with Yes Bank. Moreover, it provides a personal relationship manager to ensure that you get an exceptional banking experience. 

• Get high returns on your savings 
• Personalised assistance and support from a relationship manager 
• Seamless repatriation 

IDFC First NRE Bank Account

This bank is popular for its comprehensive suite of financial and banking services — an NRE Bank account is one of them. With IDFC First NRE Bank Account, you can enjoy several benefits tailored to meet your banking needs. 

• High interest rates on your savings 
• Robust customer support 
• Easily manage your income with innovative Internet banking services 

Kotak Mahindra NRE Bank Account

With nominal balance requirements and a host of features, Kotak Mahindra Bank’s NRE account is among the top ones in India. As an NRI, you can easily save, invest, and transfer funds without any major restrictions. 

• Enjoy internet banking services from the comfort of your home 
• Low minimum balance 
• Attractive interest on your savings

ICICI NRE Account

You can park your foreign income in an ICICI NRE Account with exclusive features such as a debit card, attractive rates, and more. With the account also allowing wire transfers in 8 currencies, it’s certainly one of the best options. 

• Full repatriation available 
• Get tax exemption on interest earned on your foreign income
• Flexibility to manage your account with internet banking services 

RBL Bank NRE Account

RBL Bank NRE Account is ideal for those seeking high interest on their foreign income. It also offers a mobile banking facility through which you can manage your funds anywhere in the world. 

• Maximise your savings with high interest rates
• Funds held in the account are completely repatriable 
• Easily manage your account with the RBL MoBank App 

Note: It’s advised to check the interest rates and balances with the bank before applying as they are subject to change over time. 

How to Choose the Best NRE Account? 

When opening an NRE account in India, take note of some points to get the best one for yourself — 

• Always compare the interest rates of different banks to maximise your tax-free interest in India 
• Look at the fees and charges required by the banks for maintenance and other services 
• Choose the bank that offers quick and hassle-free money transfers from an NRE account to a foreign account or vice versa 
• Make sure your bank is offering dedicated customer service for NRIs
• Go for a bank that offers seamless online banking facilities 
• Before opening an NRE account, read all the terms and conditions

Frequently Asked Questions