Glossary entry

NRO account

An NRO account, short for non-resident ordinary account, is a type of Indian bank account generally used by a non-resident to manage income that arises in India, such as rent, dividends or a pension. Moving money out of it is subject to conditions, limits and documentation, which come from regulation and from the bank and can change. Sending pounds to a family member's NRO account is a different situation from sending to your own NRE account, so tell your provider which type applies. See also: NRE account, FCNR account, repatriation, and the guide NRI Bank Accounts Explained.