A Non-Resident External account allows the transfer or conversion of Indian currency across borders effectively. Many NRIs who stay in foreign countries can easily send money to India using this account. The primary advantage here is that the currency converts to Indian Rupee upon reaching India. It helps your family in financial need.

An NRE account has user and finance friendly features that help families access it without any difficulties. You can open the account, withdraw funds,…

Passive income is defined as income derived from assets that do not require your active participation. Your money is put to work for you here. The idea of passive income has always appealed to people, and the economic downturn that followed the Covid-19 outbreak has only emphasised its value.

Passive income, in technical terms, is characterised as net rental income or income from your business interests in which the taxpayers are not materially involved. Passive income gets defined as…

Opening NRI fixed deposits helps you connect with your home country. It allows you to manage your foreign and Indian income. It is a great way to source your family for emergency finance like medical bills, higher education, daily expenses, etc. You can even use it to make investments in mutual funds, stocks, direct equity, real estate, etc.

Now, you can open them as Non-resident external or Non-resident Ordinary fixed deposits. Both are the account types available for NRIs in Indian…

The way we spend our finances has drastically changed over the years. We no longer are limited to using cash and cheque for every transaction. Digital banking has opened up new-age possibilities for convenient spending. The use of debit and credit cards is the by-product of this. 

You conveniently get a debit card as you open your bank accounts. These cards propagate the plastic money…