Nro full form: The documents required for NRO account

The documents required for NRO account are also listed below. Fully filled-in application form. A copy of the passport of the NRI. Visa or residence permit of the applicant. Depending on the financial institution, 2/3 copies of passport-sized photographs of the applicant. Money remittance details of the applicant. NRIs should begin by checking the eligibility criteria and then arrange the necessary documents when they have decided to apply for an NRO account, to make the application process ... NRE and NRO accounts are two types of bank accounts available to Non-Resident Indians (NRIs). An NRE account is used to manage foreign earnings in India with full tax exemption, while an NRO account manages income earned in India and is taxable. Difference Between NRE and NRO Account Are you a non-resident Indian, or are planning to shift abroad soon? Read this article to know the difference between NRE and NRO accounts, and decide which is the best option for you. Importance of NRE and NRO Accounts Before we get into the differences between NRE vs NRO accounts, let us glance at their uses. Why do people need these accounts? The major importance of NRE and NRO accounts is to help NRIs (non-resident Indians) manage their earnings ... Explore the features and differences between NRE, NRO, and FCNR (B) accounts for Non-Resident Indians.