What are the types of NRI bank accounts that can be held in India?

NRIs can have the following bank accounts :

1. Non Resident Ordinary rupee account (NRO account )
2. Non Resident (external) rupee account (NRE account)
3. Foreign Currency nonresident (FCNR account)

Given below is comparison between NRO, NRE and FCNR accounts:

Accounts and features	NRO	NRE	FCNR(B)
Purpose of Account	To park Indian earnings like rent, Indian salary, dividend etc	To park overseas savings remitted to India after converting to INR	To park overseas savings without converting into INR
Currency in which account is denominated	Indian Rupees	Indian Rupees	Any freely convertible currency
Account Types	Savings Bank Account Fixed Deposit Current Account	Savings Bank Account Fixed Deposit Current Account	Fixed Deposit
Joint account holder	Can be held jointly with a resident or a non resident	Account can be opened with a resident close relative on a “Former or survivor” basis. The resident close relative will be eligible to operate the account as a Power of Attorney holder in accordance with extant instructions during the life time of the NRI/ PIO account holder.	Account can be opened with a resident close relative on a “Former or survivor” basis. The resident close relative will be eligible to operate the account as a Power of Attorney holder in accordance with extant instructions during the life time of the NRI/ PIO account holder.
Allowed credits	Transfers from rupee accounts of non resident banks, remittances received in permitted currency from outside India through normal banking channels, permitted currency tendered by account holder during his temporary visit to India, legitimate dues in India of the account holder like current income, rent, dividend, pension, interest, etc., sale proceeds of assets including immovable property acquired out of rupee/foreign currency funds or by way of legacy/ inheritance.
Taxability of interest earned on the account balance	Taxable. Also subject to TDS deduction @30%.	Exempt from income tax and wealth tax	Exempt from income tax and wealth tax
Repatriation of Principal	Yes repatriation is allowed up to USD 1 million per year subject to payment of taxes. Any further repatriation requires RBI approval.	Freely repatriable	Freely repatriable
Repatriation of Interest	Freely repatriable	Freely repatriable	Freely repatriable
Rate of Interest	Banks are free to determine their interest rates. However, the rate cannot exceed the rate offered by them on comparable domestic rupee account	Banks are free to determine their interest rates. However, the rate cannot exceed the rate offered by them on comparable domestic rupee account	Determined by RBI.