Do You Know How To Transfer Money Out Of Your NRO Account?

It is easy to send money abroad from an NRO account if you know the rules. Find out what rules an NRI should follow to transfer money overseas.

How To Transfer Money Out Of Your NRO Account?

Non-Resident Indians (NRIs) generally carry out banking activities in India through their Non-Resident External (NRE) accounts and Non-Resident Ordinary (NRO) accounts. While funds in your NRE can be easily transferred, various rules and approvals are applicable to send money abroad from NRO accounts. 

Let’s find out how you can transfer funds from your NRO account.

  • The Liberalised Remittance Scheme of the Indian government requires the submission of certain documents for sending funds abroad 

  • Although people visiting India can open NRO accounts, Pakistanis and Bangladeshi nationals need prior permission 

  • NRO account can be operated by a resident Indian holding a power of attorney from the NRI

About NRO Account 

On becoming an NRI, a person must inform the bank of the same. The person’s existing bank accounts are converted into NRO accounts. The NRI can also open a new NRO account. NRO account can be opened jointly with another NRI or a resident Indian. NRO account can also be opened by any person visiting India, and a person of Indian origin. 

Also Read: Moving Overseas? Discover The Power Of NRO Accounts For Personal Finance 

Using The NRO Account Funds

The funds lying in your NRO account can be used to pay regular local dues in India like rent and taxes
The fund can also be used for investments made in India, provided the same is on a non-repatriation basis
Sending money outside India or to your NRE account is subject to a limit of $1 million in a financial year 
However, remittances made from the NRO account, or transfers of money from the NRO to the NRE account are subject to compliance. Notably, a transfer to an NRO account makes the money freely repatriable.

Compliance Requirements

Apart from foreign remittances from NRO accounts, a transfer from an NRO to an NRE account is also treated as an equivalent of foreign remittance. 

Before the transfer, a CA must certify form 15CB for the NRI making the transfer. Besides, the 15CA form is filled and submitted online by the NRO account holder at the official Tax Information Network website. This form captures the account number, amount, overseas account-related information and details of the CA certifying the 15CB. Upon submission, the NRI will receive an acknowledgement.

The acknowledgement must be submitted to the bank along with 15CB and other documents. Other documents include the application from the NRI’s foreign account bank, passport, PAN, Visa, A2 form for FEMA regulations and such other documents as required.  


If you're an NRI, get in touch with your CA in India to facilitate the smooth outflow of money from NRO to outside India. Do keep the documents ready and keep the annual ceiling limit for overseas money transfers in mind.

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Also Read: NRI Banking Demystified: Transitioning From Resident Savings Account To NRO Account In India  

Disclaimer: This article is intended for general information purposes only and should not be construed as investment or tax or legal advice. You should separately obtain independent advice when making decisions in these areas. 


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