Need A Financial Product › Forums › NRI money matters › Can I use existing SB account for opening NRE FD › Can-I-use-existing-SB-account-for-opening-NRE-FD_REPLY

August 25, 2014 at 10:12 pm #47008
samkapoor77
Keymaster

Yes, you will have to first open NRE account with PNB. You can open term deposits from your NRE account only. Your existing account should be converted as NRO account and all your fixed deposits in NRO account will attract TDS.