Difference between NRE and NRO account

	NRE account	NRO account
Expansion	Non-Resident External	Non-Resident Ordinary
Currency	Rupee denominated	Rupee denominated
Account type	Can be savings/current/fixed account	Can be savings/current/fixed account
Who can open	Opened by NRI’s	Opened by NRI’s. Regular accounts of citizens who become NRI’s get converted to NRO
Repatriation	Funds can be repatriated to any country	Usually no
Source of funds	Remitted from abroad, another NRE/FCNR account	Funds from within India
Opened jointly	Yes - with NRI, no - with Indian resident	Yes, with NRI or Indian resident
Income Tax	Tax free	Taxed
Power of attorney	Cannot open, but can make local rupee payments	Cannot open, but can make local rupee payments
Return to India	Converted to resident account	Converted to resident account