A few years ago, an NRI in our WhatsApp community shared something that stuck with me.
He’d been keeping his overseas earnings in a regular Indian savings account. For three years. No one told him he needed an NRE account. He’d been paying tax on interest that should have been completely tax-free.
Stories like this come up more often than you’d think.
Choosing the right NRE account is one of the first financial decisions NRIs need to make. And Axis Bank is one of the names that keeps coming up in our community discussions.
So I put together this full review – covering everything from account types and interest rates to the real-world experience NRIs have shared with us.
Quick Overview – Axis Bank NRE Account at a Glance
Before we go deep, here’s a snapshot.
| Feature | Details |
|---|---|
| Account types | Easy Savings, Prime Savings, Mariner, Priority, Burgundy |
| Savings interest rate | 3.00% – 3.50% p.a. |
| NRE FD rates | 6.15% – 7.25% p.a. (varies by amount and tenure) |
| Minimum balance | ₹10,000 – ₹10 lakhs (depends on account type) |
| Tax on interest | Tax-free in India (both savings and FD) |
| Repatriability | Fully repatriable (principal + interest) |
| Online account opening | Yes, with video KYC |
| Remittance service | RemitMoney (from US, EU, Switzerland, and more) |
| Joint account | Allowed with another NRI/PIO/OCI |
| Debit card | Yes, international debit card included |
Now, let’s break it all down.
What is an NRE Account? (Quick Refresher)
An NRE (Non-Resident External) account is specifically designed for NRIs to park their foreign earnings in India.
The money goes in as foreign currency and gets converted to Indian Rupees. The biggest benefit? Interest earned is completely tax-free in India.
And both principal and interest are fully repatriable – meaning you can send the money back abroad anytime.
This is different from an NRO account, where you deposit Indian-sourced income (like rent or pension from India).
NRO interest is taxable.
If you’re earning abroad and want to save in India, the NRE account is what you need.
Axis Bank NRE Account Types
Axis Bank offers five NRE savings account variants. Each one is designed for different needs and relationship sizes.
Let me break them down honestly.
1. Easy Savings Account (NRE)
This is the entry-level option. It’s what most NRIs start with.
Minimum balance: ₹12,000 (metro/urban branches) or ₹10,000 (other locations)
Key features:
- Free unlimited Axis Bank ATM transactions
- 5 free transactions at other bank ATMs per month
- Purchase protection up to ₹50,000
- Air accident cover of ₹1 crore
- Personal accident insurance up to ₹3 lakhs
- Free chequebook
- Internet and mobile banking included
Who it’s good for: NRIs who want basic banking in India without maintaining a large balance. If you’re just starting out or send money home occasionally, this works.
Important note: Axis Bank discontinued new Easy Savings account openings for metro/urban locations as of October 2024. Check with the bank for current availability in your area.
2. Prime Savings Account (NRE)
A step up from Easy Savings, with better perks.
Minimum balance: ₹25,000 monthly average, OR maintain ₹1 lakh in term deposits
Key features:
- Daily cash withdrawal limit of ₹40,000
- Shopping limit of ₹2 lakhs (NRE)
- Personal accident insurance of ₹2 lakhs
- Purchase protection up to ₹50,000
- Free unlimited chequebooks
- 10 free transactions at other bank ATMs
- Family Banking Program (extend benefits to 3 family members)
- Air accident coverage up to ₹1 crore
- EDGE Rewards Points on debit card spends
- Dining discounts via Axis Bank Dining Delights with EazyDiner
Who it’s good for: NRIs who want a fuller banking relationship with some lifestyle perks. The family banking feature is handy if your spouse or parents also bank with Axis.
3. Mariner Savings Account (NRE)
This one is specifically designed for merchant navy professionals and seafarers.
Minimum balance: ₹10,000, OR ₹1 lakh in term deposits
Key features:
- Multi-currency options
- Special benefits tailored for maritime professionals
- Standard NRE account features
Who it’s good for: If you work in the maritime industry, this account has specific benefits for your situation. For everyone else, the Easy or Prime account makes more sense.
4. Priority Account (NRE)
This is Axis Bank’s premium offering for NRIs with larger relationships.
Minimum balance: ₹2 lakhs quarterly average, OR minimum relationship value of ₹4 lakhs+
Key features:
- Dedicated relationship manager
- Preferential forex rates on remittances
- Personalized banking services
- Higher transaction limits
- Priority service at branches
Who it’s good for: NRIs who maintain significant balances in India and want personalized service. The preferential forex rates can make a real difference if you send large amounts regularly.
5. Burgundy Account (NRE)
This is the top-tier, premium banking experience from Axis Bank.
Minimum balance: ₹10 lakhs average monthly balance across accounts, OR ₹30 lakhs total relationship value, OR ₹40 lakhs+ in foreign inward remittances in the last 12 months
Key features:
- 12 complimentary airport lounge visits per year (3 per quarter)
- 96 complimentary movie/event tickets annually via BookMyShow (Buy 1 Get 1)
- Dining discounts of ₹800+ via EazyDiner
- Higher daily cash withdrawal limit of ₹3 lakhs
- Shopping limit of ₹6 lakhs
- Preferential rates on inward remittances
- Exclusive wealth management services
- 60% discount on small/medium lockers, 30% on large/extra large
- Dedicated Burgundy relationship manager
- Healthcare discounts (15-30%) at Fortis, Apollo, Wockhardt
Who it’s good for: High-net-worth NRIs who want the full premium experience. If you’re remitting ₹40 lakhs+ annually through Axis, you might qualify automatically.
My honest take: The Burgundy account is genuinely loaded with benefits. But the ₹10 lakh minimum balance is steep.
Only go for it if you naturally maintain that kind of balance anyway. Don’t park money just to qualify.
Which Account Type Should You Pick?
Here’s a simple comparison to help you decide.
| Account | Min Balance | Best For | Lifestyle Perks |
|---|---|---|---|
| Easy Savings | ₹10,000 – ₹12,000 | Basic NRI banking | Basic insurance covers |
| Prime Savings | ₹25,000 | Regular NRI banking + family | Dining, rewards, family banking |
| Mariner | ₹10,000 | Seafarers/maritime professionals | Multi-currency options |
| Priority | ₹2,00,000 | Larger balances, personalized service | Preferential forex, dedicated RM |
| Burgundy | ₹10,00,000 | High-net-worth NRIs | Full premium – lounges, movies, dining, wealth management |
For most NRIs, the Prime Savings Account hits the sweet spot.
The ₹25,000 minimum balance is manageable, and you get meaningful perks like family banking, insurance, and the rewards program.
Interest Rates – Savings and Fixed Deposits
Let’s talk numbers. This is where it matters most.
NRE Savings Account Interest Rate
Axis Bank offers 3.00% to 3.50% per annum on NRE savings accounts.
This is competitive and in line with what other major private banks offer. HDFC and ICICI are in a similar range.
Remember, this interest is completely tax-free in India.
That’s a meaningful benefit compared to an NRO savings account where interest is taxed at 30% + cess.
NRE Fixed Deposit Interest Rates
This is where Axis Bank gets more interesting. NRE FDs offer significantly higher returns than savings accounts, and the interest is still tax-free.
For deposits below ₹3 crore (as of October 2025):
| Tenure | Interest Rate |
|---|---|
| 1 year to less than 2 years | 6.70% – 7.10% |
| 2 years to less than 3 years | 7.00% – 7.10% |
| 3 years to less than 5 years | 7.00% |
| 5 years to 10 years | 7.00% |
For deposits of ₹3 crore and above, rates vary. Contact the bank for the latest rates on bulk deposits.
Important things to know about Axis Bank NRE FDs:
- Minimum tenure is 1 year (this is an RBI rule for all NRE FDs)
- Pre-closure before 1 year means zero interest
- Auto-renewal is available
- Overdraft facility up to 85% of deposit value
- Loan against FD is available
- Interest can be paid monthly, quarterly, or on maturity
For a comparison with other banks, check our best NRE FD rates guide.
FCNR Deposit Rates (keep money in foreign currency):
If you don’t want to convert to INR and take on currency risk, Axis Bank also offers FCNR deposits:
- USD: 4.00% p.a.
- GBP: 4.25% p.a.
- EUR: 1.65% p.a.
- AUD: 3.75% p.a.
- CAD: 2.65% p.a.
(Rates as of September 2025. Always verify current rates on the Axis Bank website.)
How to Open an Axis Bank NRE Account
Axis Bank offers both online and offline account opening. Here’s the process.
Online Account Opening (Video KYC)
Step 1: Visit the Axis Bank NRI page at axisbank.com/nri
Step 2: Click “Open NRI Account” and register
Step 3: Fill out the online application form with your personal details
Step 4: Upload digital copies of your documents (passport, visa, overseas address proof)
Step 5: Axis Bank schedules a video KYC session with you
Step 6: After verification, your account is activated
The video KYC option is a genuine convenience. You don’t need to visit India or a branch. Our community members have reported mixed experiences with the video KYC scheduling – some got it done in a few days, others waited a couple of weeks.
Pro tip: Have all your documents ready and uploaded before the video KYC call. It speeds things up significantly.
Offline Account Opening (Branch Visit)
If you’re visiting India, you can walk into any Axis Bank branch.
Step 1: Visit a branch with your documents
Step 2: An NRI customer service representative helps you with the application
Step 3: Submit your KYC documents (passport, visa, etc.)
Step 4: The bank processes your application and opens the account
For returning NRIs who are already in India, the branch visit is often the faster option. You can get it done in a single visit if your documents are in order.
Documents Required
- Valid Indian passport (or PIO/OCI card)
- Valid visa/work permit
- Overseas address proof (utility bill, bank statement, or driving license)
- PAN card or Form 60 (PAN is strongly recommended)
- Passport-size photographs
- Proof of NRI status
Sending Money to Your Axis Bank NRE Account
There are three main ways to fund your NRE account.
1. Wire Transfer (SWIFT)
The most common method. You initiate a wire transfer from your overseas bank to your Axis Bank NRE account.
You’ll need:
- Axis Bank’s SWIFT code (AXISINBB)
- Your NRE account number
- Axis Bank’s correspondent bank details (varies by currency)
Axis Bank has a handy “Simply Wire” online form on their website that generates all the information your overseas bank needs. I’d recommend using it.
Processing time: 1-3 business days Cost: Your overseas bank’s wire transfer fee (typically $15-50) + possible intermediary bank charges
2. RemitMoney (Axis Bank’s Own Service)
RemitMoney is Axis Bank’s online money transfer service for NRIs.
Available from: US, Eurozone, Switzerland, UK, Canada, UAE, Australia, Singapore, South Africa
Key details:
- No transfer fee (but exchange rate includes Axis Bank’s margin)
- ACH-based transfers from the US
- Same-day or next-day delivery depending on location
- You don’t need an Axis Bank account in India to use it (though it helps)
- Loyalty points program for regular users
Honest assessment: RemitMoney is convenient if you already bank with Axis. The “no fee” claim is technically true, but the exchange rate includes a margin. Compare the total amount received with services like Wise before choosing.
Community feedback on RemitMoney is mixed. Some members love the convenience of direct Axis-to-Axis transfers. Others have reported customer service issues, especially when transactions get stuck.
3. Third-Party Transfer Services
You can also send money to your Axis Bank NRE account through any remittance service – Wise, Remitly, Xoom, etc. You just need your NRE account number and Axis Bank’s IFSC code.
Many NRIs in our community prefer this approach. They use the transfer service that offers the best rate on a given day and send it to their Axis NRE account.
Axis Bank NRE Account – The Good and The Not-So-Good
After years of community feedback and personal experience, here’s my honest assessment.
What Axis Bank Does Well
Strong digital banking: The Axis Mobile app and internet banking are well-designed. You can manage your NRE account, transfer funds between NRE and NRO, set up FDs, and track transactions from anywhere in the world.
Wide branch network: With 5,000+ branches across India, you’ll find an Axis Bank branch in almost every city and town. This is helpful when you need something done in person, especially for tasks like updating KYC or resolving disputes.
Good NRE FD rates: Axis Bank’s NRE FD rates are competitive, especially for the 1-3 year tenure. The tax-free interest makes NRE FDs one of the best fixed deposit options for NRIs.
Account variety: Five different NRE account variants means there’s an option for every budget and need. Not every bank offers this range.
RemitMoney integration: Having an in-house remittance service that directly credits your account is convenient. No waiting for SWIFT codes to process.
Insurance and lifestyle perks: Even the basic accounts come with air accident cover and personal accident insurance. The premium tiers add meaningful lifestyle benefits.
Mandate holder facility: You can authorize a resident Indian (like a parent or spouse) to operate the NRE account on your behalf. This is incredibly useful when you need someone in India to handle transactions.
Healthcare discounts: The Burgundy tier offers 15-30% discounts at hospital networks like Fortis, Apollo, and Wockhardt. For NRIs with elderly parents in India, this can be genuinely valuable.
Where Axis Bank Falls Short
Customer service inconsistency: This is the number one complaint in our community. NRI customer service can be hit-or-miss. Some members report excellent support from dedicated relationship managers. Others describe frustrating loops of transferred calls and delayed email responses.
One community member put it bluntly – “The NRI helpline feels like it’s designed to test your patience.”
RemitMoney reliability: While convenient, RemitMoney has received mixed reviews. Some users report stuck transfers, with resolution taking weeks.
If you use RemitMoney for large amounts, track your transfers closely.
Minimum balance penalties: If you fall below the minimum balance requirement, Axis Bank charges non-maintenance fees.
These can add up, especially if you’re not monitoring your account regularly from abroad. Make sure you understand the penalty structure for your account type.
International charges: Axis Bank’s forex markup on international debit card transactions can be around 3.5%.
If you use your Axis debit card for international purchases, this adds up. Compare with other options before swiping.
KYC updates from abroad: Several community members have reported challenges updating KYC documents while living overseas.
The video KYC process helps, but periodic re-KYC can sometimes require a branch visit.
Exchange rate on RemitMoney: The “zero fee” on RemitMoney comes with a trade-off – the exchange rate includes Axis Bank’s margin.
On large transfers, you might get more rupees by using a third-party service like Wise and sending it to your Axis NRE account.
Axis Bank NRE vs Other Banks – How Does It Compare?
| Feature | Axis Bank | HDFC Bank | ICICI Bank | SBI |
|---|---|---|---|---|
| NRE Savings Rate | 3.00-3.50% | 3.00-3.50% | 3.00-3.50% | 2.70-3.00% |
| NRE FD Rate (1-2 yr) | 6.70-7.10% | 6.60-7.10% | 6.70-7.05% | 6.50-7.10% |
| Min Balance (Basic) | ₹10,000-12,000 | ₹10,000 | ₹10,000 | ₹3,000-5,000 |
| Online Account Opening | Yes (Video KYC) | Yes | Yes | Yes |
| Own Remittance Service | RemitMoney | Quick Remit | Money2India | SBI Express Remit |
| Branch Network | 5,000+ | 8,000+ | 5,900+ | 22,000+ |
| Digital Banking | Strong | Strong | Strong | Improving |
| Premium NRI Tier | Burgundy | Imperia/Preferred | Wealth | – |
(Rates are approximate and change frequently. Always verify current rates directly with the bank.)
My take: Among private banks, Axis Bank, HDFC, and ICICI are very close competitors for NRI banking.
The differences come down to which bank you have an existing relationship with, which branch is closest to your family in India, and which remittance service works best for your situation.
SBI has the largest branch network by far and lower minimum balances, which matters if your family is in a smaller town.
For a more detailed comparison, check our banking comparison guide.
Important Things to Know About NRE Accounts
A few rules that apply to all NRE accounts – not just Axis Bank – that NRIs often overlook.
Joint accounts: You can open a joint NRE account only with another NRI, PIO, or OCI. You cannot add a resident Indian as a joint holder.
However, you can add them on a “former or survivor” basis, or give them Power of Attorney to operate the account.
What you can deposit: Only foreign currency remittances from abroad. You cannot deposit Indian Rupees into an NRE account.
What you can do with NRE funds:
- Remit money back abroad (full repatriation)
- Transfer to other NRE/FCNR accounts
- Make investments in India (mutual funds, stocks via PIS, property)
- Local payments within India
When you return to India: If you move back and become a resident, your NRE account must be converted to a regular resident account or redesignated as an RFC (Resident Foreign Currency) account.
You get a reasonable period to do this after your residential status changes.
Nomination: Always set up a nominee for your NRE account. It’s a simple step that saves your family enormous hassle later. Axis Bank allows nomination for all NRE accounts.
What Happens When You Return to India?
This is something our community deals with constantly.
When you move back to India and your residential status changes to “Resident,” your NRE account needs to be converted.
Your options with Axis Bank:
- Convert NRE to regular savings account – Your NRE savings account becomes a normal resident savings account. Interest from conversion date onwards will be taxable.
- Convert NRE FDs to resident FDs – Ongoing NRE FDs can continue at the existing rate until maturity. After maturity, they renew as resident FDs at applicable rates.
- Open an RFC (Resident Foreign Currency) account – You can transfer NRE balances to an RFC account, which lets you hold funds in foreign currency even after returning. Useful if you might go abroad again.
The conversion process with Axis Bank is straightforward. Visit your home branch with proof of your return (flight ticket, updated address proof). They’ll guide you through the redesignation.
For a complete checklist on what to do when you return, check our financial checklist for returning NRIs.
Axis Bank NRE Account – Fees and Charges
Nobody likes surprises when it comes to bank fees. Here’s what to expect.
Account maintenance: No annual maintenance charge for most account types, but minimum balance non-maintenance charges apply.
Non-maintenance charges (Easy Savings):
- If your average monthly balance falls below the required amount, Axis Bank levies monthly transaction fees
- The exact penalty depends on the shortfall percentage
- These can range from ₹100-₹600+ per month
Debit card:
- Annual fee varies by card type (basic to Burgundy)
- ATM withdrawal charges: Free at Axis Bank ATMs, limited free transactions at other banks
- International ATM withdrawals: ₹125-150 per transaction + forex markup (~3.5%)
Fund transfer charges:
- NEFT/RTGS from NRE: Usually free for internet banking
- SWIFT outward remittance: Charges apply (₹1,000-2,500+)
FD pre-closure:
- Before 1 year: Zero interest (RBI mandate)
- After 1 year: Penalty on interest rate (typically 1% lower than contracted rate)
The full schedule of charges is available on the Axis Bank website. I strongly recommend reading it before opening your account. No one likes being caught off guard by a fee.
Tips from Our Community
Here are some practical tips gathered from thousands of NRIs in our community who bank with Axis.
1. Start with a Prime Savings account.
The ₹25,000 minimum is manageable, and the perks (especially family banking) make it worth the slightly higher requirement.
2. Set up a recurring transfer.
If you send money monthly, use RemitMoney’s scheduling feature or set up a recurring transfer through your preferred service. Automation prevents missed months and keeps your family’s expenses covered.
3. Park surplus in NRE FDs.
Don’t let large amounts sit idle in your savings account earning 3%. Move surplus to NRE FDs and earn 6.5-7%+ tax-free.
4. Keep your KYC updated.
This is the single biggest headache NRIs face across all banks. If your passport or visa is expiring, update it with Axis Bank proactively. Don’t wait for them to freeze your account.
5. Get a dedicated relationship manager.
If your balance qualifies you for Priority or Burgundy, take advantage of the dedicated RM. Having one person who knows your account makes problem-solving much faster.
6. Use the Axis Mobile app.
The app is well-designed and lets you handle most tasks remotely. Set it up on day one.
7. Authorize a mandate holder in India.
Give a trusted family member the authority to operate your NRE account. This is invaluable for situations where physical presence is needed – like clearing a cheque or resolving a branch-level issue.
8. Compare RemitMoney rates before using it.
Don’t assume RemitMoney gives the best rate just because it’s “zero fee.” Always compare the total amount your family will receive against Wise, Remitly, or other services.
Frequently Asked Questions
Q: Is interest on Axis Bank NRE account taxable?
No. Interest earned on NRE savings accounts and NRE fixed deposits is completely tax-free in India under Section 10(4)(ii) of the Income Tax Act. This applies to both savings account interest and FD interest.
Q: Can I open an Axis Bank NRE account from abroad?
Yes. Axis Bank offers online account opening with video KYC. You can complete the entire process from abroad without visiting India.
Q: Can my spouse (who lives in India) operate my NRE account?
Your spouse cannot be a joint holder on your NRE account if they’re a resident Indian. But you can authorize them as a mandate holder or give them a Power of Attorney to operate the account on your behalf.
Q: Can I transfer money from my NRE account to my NRO account?
Yes. You can transfer funds from NRE to NRO. However, once funds move to NRO, they become subject to NRO taxation rules and repatriation limits ($1 million per financial year).
Q: What happens to my NRE account if I return to India permanently?
Your NRE account must be redesignated as a resident account or RFC account once you become a resident. Existing NRE FDs can continue until maturity at the existing rate.
Q: Can an OCI card holder open an NRE account with Axis Bank?
Yes. Persons of Indian Origin (PIO) and Overseas Citizens of India (OCI) are eligible to open NRE accounts with Axis Bank.
Q: Is there a limit on how much I can deposit in my NRE account?
There is no upper limit on deposits into an NRE account. You can remit any amount from abroad.
Q: Can I use my Axis Bank NRE debit card internationally?
Yes. Axis Bank NRE accounts come with international debit cards that work worldwide. But be aware of the forex markup (approximately 3.5%) on international transactions.
Q: How do I get the best exchange rate when sending money to Axis Bank?
Compare rates across multiple services before sending. Check RemitMoney, Wise, Remitly, and your local bank’s wire transfer rate. Send via whichever gives the highest INR amount after all fees. Our money transfer guide has more details.
Q: Can I invest in mutual funds or stocks from my NRE account?
Yes. You can invest in Indian mutual funds and stocks from your NRE account. For stock trading, you’ll need to open a PIS (Portfolio Investment Scheme) account with a designated bank and link it to a demat account.
Q: What is the Axis Bank NRI customer care number?
Axis Bank has a 24/7 international toll-free NRI helpline. You can also reach them via the NRI section on axisbank.com or through the Axis Mobile app chat.
My Verdict – Should You Open an Axis Bank NRE Account?
Here’s my honest summary.
Open an Axis Bank NRE account if:
- You already have a relationship with Axis Bank (or your family does in India)
- You value strong digital banking and a good mobile app
- You want the convenience of RemitMoney for direct transfers
- You’re looking for competitive NRE FD rates with tax-free interest
- You want the option to upgrade to premium banking (Priority/Burgundy) as your needs grow
- An Axis Bank branch is conveniently located near your family in India
Consider other banks if:
- You’re in a smaller town where SBI’s massive branch network is more practical
- Customer service quality is your top priority (HDFC tends to get slightly better NRI service reviews)
- You want the lowest possible minimum balance (SBI starts at ₹3,000-5,000)
- You need strong NRI banking from the US specifically (ICICI’s Money2India has a slightly more polished US experience)
The truth is, among India’s top private banks, the differences are marginal. What matters most is which bank your family in India is comfortable visiting and which one has a branch close to them.
If I had to rate Axis Bank’s NRE account overall, I’d give it a solid 7.5 out of 10. Good product, competitive rates, strong digital experience – pulled down slightly by inconsistent NRI customer service.
Disclaimer: This review is based on publicly available information and community feedback as of early 2026. Interest rates, fees, and features change frequently. Always verify current details directly with Axis Bank before making decisions. This is not financial advice.
If you’re planning your move back to India, or just trying to figure out NRI banking, join our WhatsApp community at https://backtoindia.com/groups – 20,000+ NRIs helping each other with real, lived experience. It’s free and volunteer-run.
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