123ArticleOnline Logo
Welcome to 123ArticleOnline.com!

ALL >> Investing---Finance >> View Article

Why Is Bank Remittance To India A Favorable Option For The Future?

By Author: Neha Sharma

Total Articles: 705

May individuals travel abroad for lucrative and promising careers and job offers. Then, they remit to India so that they can save for retirement, diversify their portfolio, help the family members, and several other reasons. Remitting back to family in India has been a traditional and expensive process but with the modern modes of transferring, it has become a favorable option. Here are the reasons why remitting to India are favorable option for the future. The benefits of remittance to India are as follows:

International banking cards

Once you open NRI banking accounts, you can avail of international banking cards like the debit cards, credit cards and prepaid cards that can be used locally and internationally as well. This can be used as a form of remittance to India, where the co – applicant of the account can use these cards to withdraw funds for use. All that is needed in the pin for the card which can be sent by the NRI and the card is ready to be used. These international banking cards have a decent conversion rate thus allowing users to withdraw money easily.

Attractive rates

Most of these banking accounts have attractive interest rates especially if the income is in international currency. Normally there is 8 to 10% interest rate with the accounts, and with high conversion rate of foreign currency, this is a good way to earn a high income. This can be used as a bank remittance where the interest earned can be used to remit to India, and get higher return on the same amount of funds compared to local forms of investments.

Faster process

The process of banking remittance to India is very fast. Local residents can access funds directly from the same account of the NRI if they are a nominee in the account. The NRI can even send money through the online portal from one account to another. In a matter of a few hours; the money will get transferred. As the waiting time reduces, it becomes a good choice remittance but even a better choice for remittance during emergency situations.

Higher security

Bank remittance needs a very high security as the data of the account can be compromised and the funds can be misused. In order to protect this transaction from any fraud or theft, there is different high security process to ensure that each remittance to India is carried out carefully and securely.


Author Bio :- Neha Sharma is a finance student who loves to write about remitting back to India. She is delighted to share information about bank remittance and online money transfers with people as these technologies evolve over the period of time.

Total Views: 51Word Count: 442See All articles From Author

Investing / Finance Articles

1. Imputing The Services Of Individual Taxpayer Identification Number To Build Tax Solutions
Author: Robin Joe

2. Why A 5 Year Fixed Deposit Is The Ideal Choice For You?
Author: Mayur Sheitty

3. How Can Existing Home Loan Owners Reduce Their Current Interest Rate?
Author: Mayur Sheitty

4. Loans For People With Bad Credit – Speedy And Flexible Way For Borrowing
Author: Stephen King

5. Expand Your Business With A Sme Loan
Author: Mayur Sheitty

6. Self Employed Home Loan: Here Is What You Need To Do
Author: Mayur Sheitty

7. Same Day Cash Loans Bad Credit –best Way For Making Swift Funds
Author: Stephen King

8. Assets Audits Of The Asquith Group Asia, Tokyo Japan
Author: Ava Kraegen

9. Facts About Fixed And Variable Home Loans
Author: Kimberly Ash

10. Relation Between Different Commodities And Commodities Based Stock
Author: Mahendra Rajput

11. Investment Procedure Of The Asquith Group Asia, Tokyo Japan
Author: Ava Kraegen

12. Best Interest Rates At Home And Mortgage Loans
Author: Shreekant Rao

13. The Home Loan Transfer - An Effective Way To Reduce The Interest Burden
Author: Arwind Sharma

14. Scope Of Forex Market In India
Author: sharetipsinfo.info

15. Benefits Of Money 2 India Service For Nris
Author: Neha Sharma


Login To Account
Login Email:
Password:
Forgot Password?
New User?
Sign Up Newsletter
Email Address: