Can NRIs open Bank Account in India?

Yes, Non-Resident Indians (NRI) or Person of Indian Origin (POI) are allowed to maintain a bank account in India.
The following are the type of accounts for NRI/POIs.

• Non-Resident (Ordinary) Rupee Account     - NRO Account
  
• Non-Resident (External) Rupee Account     - NRE Account
  
• Foreign Currency Non-Resident (Bank) Account - FCNR (B) Account
  
  
  
  

Particulars	FCNR (B) Account	NRE Account	NRO Account
Joint account of two or more NRIs	Permitted	Permitted	Permitted
Joint account with another person resident in India	Not permitted	Not permitted	Permitted
Currency in which account is denominated	Pound Sterling/ US Dollar/Jap.Yen/Euro	Indian Rupees	Indian Rupees
Repatriability – Principal	Freely repatriable	Freely repatriable	Not repatriable (except current income like rent, dividend, pension etc. and remittances indicated under "Repatriation of NRO Funds")
Interest	Freely repatriable	Freely repatriable	Freely repatriable
Foreign currency risk	Account holder is protected against changes in INR value vis-à-vis the currency in which the account is denominated.	Account holder is exposed to the fluctuations in the value of INR.	Account holder is exposed to the fluctuations, in the value of INR to the extent of interest amount.
Type of accounts	Term deposits only.	Current, Savings, Recurring, Fixed Deposits.	Current, Savings, Recurring, Fixed Deposits.
Period of fixed deposits	For terms not less than 1 year and not exceeding 3 years	For the periods as announced by the deposit taking bank.	For the periods as announced by the deposit taking bank.
Rate of interest	Banks are free to determine interest rates within the ceiling, if any, prescribed by the Reserve Bank	Banks are free to determine interest rates.	Banks are free to determine interest rates.
Rupee Loans in India against Security of the funds held in the account to : Account holder Third Party	Permitted	Permitted	Permitted
Foreign currency loans outside India against security of the funds held in the account to : Account holder Third Party	Permitted	Permitted	Not permitted

                                                        Source: RBI