NRE/NRO bank account

[gappy31600]

Hi Guys,

This question is for people who have migrated from India to Canada and have been in Canada for more than 6 months.

I have read some posts where people say that we cannot holds a savings bank account in India after we become an NRI ( which is after 182 days living abroad) and we need to convert our Savings account to NRE/NRO account.

I have this question because i have an account which is currently a sacings account in India. From this account i pay my monthly installments for my home loan. Now after migrating to Canada when i get a job i owuld need to transfer money to this account so that the monthly installments can be paid.

I would like to know how do you guys manage if you are sending money from Canada to India?

Thanks for your time.

 

[bram]

Best to get an NRE/NRO account in India in order to have clean tax records. As such interest on your savings account will be tax deductible while interest in your NRE account will be tax free so you do get extra benefits. There is ICICI bank in Canada so you can speak with them to open an account and they will do the needful.