India has three types of NRI (Non-Resident Indian) accounts that expatriates can use to manage their finances in India. These accounts are: NRE accounts (non-resident external accounts):NRE accounts are savings or checking accounts denominated in Indian Rupees and can only be opened by NRIs or PIOs (of Indian origin). This account can be opened jointly  with another NRI/PIO of hers and the funds in the account can be transferred in full. This means that you can  send money abroad without restrictions.

Interest earned on NRE accounts is tax exempt in India.  Non-Resident Ordinary (NRO) Accounts:NGO Accounts are savings or checking accounts denominated in Indian Rupees that can be opened by NRI/PIOs or non-residents of India. This account will be used to manage income such as rent, dividends and pension income generated in India. You can refund part of your account balance. That means you can send up to $1 million abroad in a single fiscal year. Interest earned on NGO accounts is subject to withholding tax (TDS).

FCNR account (foreign currency account for non-residents):FCNR accounts are time deposit accounts denominated in foreign currencies such as USD, EUR and GBP that can be opened by NRI/PIO. Accounts can be opened for a minimum of 1 year and a maximum of 5 years, and funds can be fully transferred. H. You can freely send money overseas without restrictions. Interest earned on FCNR accounts is tax exempt in India.  NRI accounts are available in three types:India and individuals can choose the account that best suits their financial needs and goals.