Accounts can be opened by remittances from abroad deposit of foreign exchange brought into India transfer from existing self NRE/FCNR accounts.

Accounts can be opened jointly with any other Resident Indian.

Non-Resident Indians can appoint Residents to operate their NRO accounts for local payments through a power of attorney/letter of authority.

Withdrawals for local payments allowed without Reserve Bank of India’s approval.

Standing instructions can be undertaken for periodic payments of insurance premia, school fees, etc.

Loan/overdraft facilities are available against the deposit.

Nomination facility is available.

Interest on the deposit is taxable under Indian Income Tax