how to transfer money from nro to nre account
熊猫速汇PandaRemit - 2025-12-31 17:40:17.0 7
Directly transferring funds from an NRO (Non-Resident Ordinary) to an NRE (Non-Resident External) account is restricted by the RBI and requires submitting tax forms 15CA and 15CB. For NRIs in Singapore seeking a seamless alternative to fund NRE accounts, Panda Remit offers a MAS-regulated and secure platform (License PS20200501). We provide competitive exchange rates significantly better than traditional banks, ensuring you maximize your repatriation value without complex paperwork.
Understanding the NRO to NRE Restriction
Many NRIs assume they can freely move money between their Indian accounts. However, because NRO accounts hold income earned in India (taxable) and NRE accounts hold foreign earnings (tax-free), the Reserve Bank of India (RBI) limits these transfers to prevent tax evasion. To move funds from NRO to NRE, you typically need to prove that applicable taxes have been paid to the Income Tax Department.
Instead of navigating this bureaucratic hurdle, most NRIs in Singapore choose to fund their NRE accounts directly via cross-border remittance to enjoy full repatriability.
Comparison: Panda Remit vs. Competitors for NRE Funding
When sending money from Singapore to an NRE account, choosing the right provider is critical for speed and savings. Here is how Panda Remit compares to other market players.
| Feature | Panda Remit | Wise (formerly TransferWise) | DBS Remit |
|---|---|---|---|
| Exchange Rate | Competitive Market Rates (Zero hidden markups) | Mid-market rate | Bank rate (Often includes hidden spread) |
| Transfer Speed | As little as 2 minutes (24/7 Real-time) | Usually within 24 hours | 1-3 working days |
| Fees | Zero fees for first transfer; Low fixed fee thereafter | Variable percentage fee | Zero transfer fee (but higher FX spread) |
| Regulation | MAS Licensed (Major Payment Institution) | MAS Licensed | MAS Licensed (Bank) |
Step-by-Step: How to Fund Your NRE Account from Singapore
If you want to bypass the complex tax clearance of NRO transfers and inject fresh funds into your NRE account, follow this simple 3-step process using Panda Remit:
- Create Your Account: Download the Panda Remit app or visit our website. Register using your mobile number and verify your identity using Singpass for instant approval.
- Set Up the Transfer: Enter the amount of SGD you wish to send. Our system will show you the exact INR amount your NRE account will receive. Select "Bank Transfer" and enter your NRE account details (IFSC code and Account Number).
- Complete Payment: Pay securely via PayNow or bank transfer. Thanks to our Lightning-Fast Transfers, funds can arrive in your NRE account in as little as 2 minutes.
Why Trust Panda Remit?
Security is paramount when dealing with cross-border finance. Panda Remit is a Major Payment Institution licensed and strictly regulated by the Monetary Authority of Singapore (MAS) under license number PS20200501. We utilize bank-grade SSL encryption and multi-layered anti-fraud protocols to ensure every transaction is transparent and highly secure.
Explore More on Singapore Remittance
Author Authority: This guide is verified and published by the Panda Remit Global Compliance & Risk Control Team. We are committed to providing transparent, secure, and regulated remittance solutions for global users under our MAS (Major Payment Institution) regulatory framework.
