In India, interest earned on FCNR accounts is tax-free. It makes them an attractive option for NRIs looking to park foreign currency earnings without tax liabilities in India.
FAQ Category: Services
Are NRIs eligible to take loans against their NRE or FCNR fixed deposits?
Yes, NRIs are eligible to take loans from banks in India against their NRE or FCNR fixed deposits. This is subject to the bank’s terms and conditions. These loans can be used for personal or business purposes in India, often at competitive interest rates
What documents are required to open an NRI account?
Typically, NRIs need to provide a valid passport, a visa or proof of NRI status, proof of address (overseas or Indian, if applicable), a PAN card, and recent passport-size photographs. Some banks may also require video KYC or attested documents as per their policies.
Are NRIs allowed to invest in Government of India security bonds?
Yes, NRIs can invest in certain government securities and bonds like RBI bonds or other approved instruments, through their NRE or NRO accounts. They can invest under the Portfolio Investment Scheme or other permissible routes, subject to RBI guideline.
Can criminal cases run parallel to civil cases?
Yes, both can proceed independently if fraud or cheating is involved.
Is online RERA filing possible for NRIs?
Yes, many states offer online complaint filing.
What if the builder refuses to respond to my notice?
Proceed directly with RERA, Consumer Court, or civil/criminal case.
Can I claim compensation for mental agony?
Yes, through Consumer Courts.
Is the agreement-to-sell sufficient to file a case?
Yes, if it contains clear clauses on possession and payments.