What Is The Need For Nri Investment?

By Author: Vijay K Shetty
Total Articles: 2542
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Need to provide a source of income to your family back in India, makes you open up an FCNR, NRE or an NRO account. You may want to save your earnings, open up fixed deposits or set up an online demat account. For all your financial transactions in various foreign currencies you need to open any of these NRI bank account. Only FCNR and NRE accounts offer you scope for transferring your income earned in India. However, with an NRO account your family members can be appointed as nominees and they can withdraw funds. To enjoy your Indian earnings abroad, you must have repatriable accounts such as Foreign Currency Non resident and Non resident external accounts.

This way, you take the fear of your family when you are away from them. With a nominee appointed, they will continue to get financial support from you through the NRI bank accounts. Besides this, you can also protect them with an insurance policy. Your investments in India will provide them a source of income. You may invest out of necessity to provide monthly income to your family or out of the need to make profits. You also enjoy tax free liability with foreign currency ...
... non resident and Non resident external bank accounts.

NRI insurance policies minimize the financial tension that may arise out of hospitalization of your family members. If you have signed up for a comprehensive policy, it will protect your family members in your absence. This way, you would have provided them a good breather when they need finance the most. Any inevitable medical expenses or hospitalization charges that may crop up in your home town will be taken care of at the earliest. Always, understand the terms and conditions before you sign up for one. Do not end up signing for a wrong policy.

Vijay K Shetty, Platinum Author.
Get related information on NRI Insurance Plans, NRI Portfolio Investment