1- what I need to do to convert both accounts to NRE ?any documentation required?
Existing regular accounts in India cannot be converted to NRE A/C and have to be converted to NRO A/C.
Usually foreign passport/Visa/PR card will suffice. If you can, please contact branch manager for exact documentation.
2- Are interest rates same for both accounts ?
NRO interest rates are almost same as regular savings accounts.
3- Reg $$ I think not all branch deals with such accounts--only NRI branches deal with $$$$
All branches of Nationalized and private commercial banks deal with NRE A/C. [if some branch do not deal, then it is more of an exception than a rule]. However FCNR deposits are usually handled by BIG branches. [With online access, does this matter?]
Should have rephrased my question as to the users of Money 2 India vs Online remit Sbi .
Which one you find better over other to send money to India ?
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