An NRI can deposit their foreign exchange savings in an Indian bank with the use of a Non-Resident External (NRE) account. An NRE account allows the holder to withdraw funds in Indian Rupees (INR) and deposit funds in any foreign currency. But can NRE account be debited for cashwithdrawl in India? Yes. In India, it is possible to debit an NRE account in order to make cash withdrawals.
Is It Possible to Debit NRE Account for Cash Withdrawal?
Yes. Both in India and outside, you can make purchases with your NRE debit card at ATMs and retail locations.
NRIs can withdraw cash in India using their NRE account-linked debit card at ATMs. Withdrawals are in Indian Rupees and are subject to daily withdrawal limits set by the bank.
NRIs can visit their bank branch in India and withdraw money over the counter. They must provide identity proof, such as a passport or PAN card, along with account details.
Since NRE accounts hold foreign earnings, all funds, including withdrawals, remain fully repatriable without restrictions.
However, once cash is withdrawn in INR, depositing it back into an NRE account is not allowed, as NRE accounts can only receive foreign currency credits.
I hope this helps you.
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Can NRE Account Be Debited for Cashwithdrawl in India?
pragati
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9 months
2025-03-21T08:42:44+00:00 2025-03-21T08:42:45+00:00Comment
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