What is NRI Full Form in Banking Sector?
NRI Account Meaning in Banking: Know What is NRI Account?
An NRI Account refers to the accounts opened by a Non-Resident Indian (NRI) or a Person of Indian Origin (PIO) with a bank or financial institution which is authorised by the Reserve Bank of India (RBI), to provide various services.
The Non-Resident External (NRE) Account allows you to transfer your foreign earnings easily to India.
There is no tax levied on the interest earned from these accounts. They are tax exempt.