New Delhi, July 23 -- For Non-Resident Indians (NRIs), Overseas Citizens of India (OCIs) and Persons of Indian Origin (PIOs), Non-Resident External (NRE) and Non-Resident Ordinary (NRO) accounts are among the most popular options for investing in India. Both accounts allow deposits and withdrawals in Indian rupees, but they serve different purposes depending on the source of funds used for investment.

Here's a comparison of NRE and NRO accounts, along with the latest interest rates offered by leading lenders, including State Bank of India (SBI), HDFC Bank, Punjab National Bank (PNB) and Axis Bank on fixed deposits (FDs) with tenures ranging from five to 10 years.

The primary distinction between the two accounts lies in the origin of the...