Yes, you can transfer money from a savings account to an NRO account, but the rules depend on whether both accounts are at the same bank and whether you are the account holder

If both accounts are in your name at the same bank, you can transfer money between them using online banking, mobile app, or by visiting a branch. The transfer usually clears within hours or by the next business day. If the accounts are at different banks, you will use NEFT (National Electronic Funds Transfer) or RTGS (Real Time Gross Settlement), which take longer and may involve a small fee.

The key restriction: money in an NRO (Non-Resident Ordinary) account can only come from your own income earned abroad or from repatriation of foreign currency. You cannot transfer money from a savings account held by someone else into your NRO account, and you cannot use an NRO account to send money back to India if you are not the registered account holder. If you are a resident of India and hold both accounts, the transfer is straightforward, but if you are a non-resident, your bank may ask for documentation showing the source of the funds.

Key Takeaways

  • Same-bank transfers from savings to NRO clear within hours; different-bank transfers via NEFT or RTGS take one to two business days and may cost ₹2 to ₹10 depending on the amount.
  • Both accounts must be in your name; you cannot transfer money from someone else's savings account into your NRO account.
  • If you are a non-resident, your bank may request proof that the money came from foreign income or legitimate repatriation, not from a domestic source.
  • NRO accounts are designed to hold rupees earned abroad; transferring rupees from a domestic savings account may trigger compliance questions from your bank.

Same-Bank Transfers: The Fastest Route

If your savings account and NRO account are both at the same bank, log into online banking or your mobile app and select the transfer option. You will enter the NRO account number (which your bank already has on file), the amount, and confirm. The money moves immediately or within a few hours, depending on whether the transfer is processed during business hours.

At the branch, you can also fill out a transfer form and hand it to a teller. Bring your passbook or account statement to confirm both account numbers. This method is slower but useful if you do not have online access or prefer a paper record. No fee is charged for intra-bank transfers in most cases.

Different-Bank Transfers: NEFT and RTGS

If your savings account and NRO account are at different banks, you will use NEFT or RTGS. NEFT (National Electronic Funds Transfer) is the standard option: it processes in batches throughout the day and takes one to two business days. RTGS (Real Time Gross Settlement) is faster—transfers settle within 30 minutes during banking hours—but is only available for amounts above ₹2 lakh and charges a higher fee.

To initiate a NEFT transfer, log into your savings account bank's online portal and add the NRO account as a beneficiary. You will need the account number, IFSC code of the NRO bank, and the account holder's name. After adding the beneficiary (which may take a few hours to activate), you can transfer money. Fees range from ₹2 to ₹10 depending on the amount and your bank's pricing.

RTGS requires you to specify that you want RTGS processing when you initiate the transfer. Fees are higher—typically ₹25 to ₹50—but the money arrives the same day. Use RTGS only if you need the money urgently and the amount is large enough to justify the cost.

Documentation Your Bank May Request

If you are a non-resident transferring money into an NRO account, your bank may ask for proof of the source of funds. This is standard compliance: NRO accounts are meant to hold rupees earned abroad, and banks must verify that money is not being moved illegally from a domestic account.

Bring documents showing the money came from legitimate sources: salary statements from your employer abroad, proof of foreign income, or evidence of repatriation from a foreign currency account. If you are transferring your own money that you earned in India before moving abroad, bring a statement showing the money was already in your savings account before you left. Your bank will review these documents and either approve the transfer or ask for more information.

What Happens If the Accounts Are Not in Your Name

You cannot transfer money from someone else's savings account into your NRO account, even if they are a family member. The account holder must initiate the transfer themselves, or they must give you written authorization and power of attorney, which your bank will need to see.

If you are trying to send money to someone else's NRO account from your savings account, you can do so, but the receiving bank will verify that the account holder has authorized the transfer. Some banks flag large transfers to NRO accounts as a precaution, so inform both banks in advance if you are sending a significant amount.

Timing and When Transfers Fail

Same-bank transfers clear within hours. NEFT transfers clear within one to two business days; if you initiate a transfer on Friday evening, it may not arrive until Monday. RTGS transfers clear within 30 minutes during banking hours (9 a.m. to 4:30 p.m. on weekdays), but if you initiate after hours, the transfer queues for the next business day.

Transfers fail most often because of a wrong account number or IFSC code. If the receiving bank cannot match the account number to the account holder's name, the transfer bounces back to your account within two to three business days. Check the account number and IFSC code twice before confirming. If a transfer fails, your bank will refund the money automatically; you do not need to file a claim.

Frequently Asked Questions

Do I pay tax on money I transfer from savings to NRO?

No tax is charged on the transfer itself. However, if the money in your NRO account earns interest, that interest is taxable in India even though you are a non-resident. Your bank will deduct TDS (Tax Deducted at Source) on the interest at the rate set by the government.

Can I transfer money from NRO back to my savings account?

Yes, you can transfer money from NRO to a savings account in your name using the same methods (NEFT, RTGS, or same-bank transfer). There is no restriction on moving money out of an NRO account, but your bank may ask for documentation if the amount is very large.

What is the maximum amount I can transfer?

There is no legal maximum for transfers between your own accounts. However, transfers above ₹10 lakh may trigger additional scrutiny from your bank for compliance reasons. If you are transferring a large amount, inform your bank in advance so they do not flag the transaction as suspicious.

How much does a NEFT transfer cost?

NEFT fees vary by bank and amount. Most banks charge ₹2 to ₹10 per transaction. Some banks waive the fee for customers with certain account types or minimum balances. Check your bank's fee schedule or ask at the branch before initiating the transfer.

What if I enter the wrong account number?

If the account number does not match the account holder's name in the receiving bank's system, the transfer will be rejected and the money returned to your account within two to three business days. Always verify the account number and IFSC code with the account holder before sending money.