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NRE and normal savings account

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  • NRE and normal savings account

    Respected Sir, mam

    I would like to know that is it possible to have NRE account for salary and an Normal savings account for daily usage legally?
    And is it possible that one can receive his salary which is remitted in dollars by the company in a savings account?

  • #2
    Ankit1605 : If you are Indian Citizen, you have all the rights to open a normal saving account.
    NRE account will be opened on the basis of company letter which will state that your salary will be credited in USD (which will be converted by the bank as per the current rate).
    So, Answering your questions-
    1. Yes you can have both NRE and normal savings account
    2. You can receive the salary in a normal savings account, however, the service charge deduction and time taken to receive the money will be more