Earn in Swiss francs and save in rupees: 3 legal ways for the Tamil diaspora

05 Avani 2026 Introduction: Amid Switzerland’s beautiful mountains, every expatriate Tamil who works hard and earns Swiss francs (CHF) carries a dream in their heart: that their hard-earned money should reach their family and secure their future back home safely. However, when converting Swiss francs into rupees, many questions arise—high fees, low exchange rates, legal complications, and more. In this article, we will look at the 3 best ways to save your earnings in India 100% legally and securely. Method 1: NRE and NRO bank accounts — the safest shield These accounts were created by the Reserve Bank of India (RBI) specifically for Indians living abroad. NRE Account (Non-Resident External Account): You can transfer the Swiss francs you earn in Switzerland directly into this account. It will be automatically converted into Indian rupees. The biggest advantage is that both the money in this account and the interest earned on it are tax-free in India. Moreover, you can convert this money back into Swiss francs at any time and take it back to Switzerland. NRO Account (Non-Resident Ordinary Account): This is best for saving income you already have in India (rent, shares, etc.). How to get started? You can easily begin by contacting the Switzerland or India branches of banks like SBI, ICICI, and HDFC, using your passport and proof of overseas address. Method 2: Government-authorized remittance services — speed and lower fees When sending money through banks, the fees tend to be high. As an alternative, you can use institutions approved by FINMA (Swiss Financial Market Supervisory Authority) and the RBI. Wise (formerly TransferWise), Revolut, Western Union, MoneyGram: Compared to banks, these services send money at lower fees and at the real-time mid-market exchange rate. For example, if a bank charges a fee of 25 CHF to send 1000 CHF, services like Wise may charge only 5–8 CHF. What should you do to stay legal? 1. Always send from an account in your name to an account in your family member’s name only. 2. Keep the receipt for each transfer safely. This helps when filing Swiss tax returns. 3. If you send more than 10,000 CHF per year from Switzerland, the bank may ask for proof of source—your salary slip is sufficient. Method 3: Smart investments in India — making your money grow Rather than simply keeping money in a bank, there are some government schemes to help your rupees grow. a) Fixed deposits for NRIs (NRE Fixed Deposit): If you place an FD through your NRE account, you can get higher interest than a regular FD in India (currently up to 7–8%). And it is tax-free as well! b) Mutual funds and shares: Through an NRO account, you can invest in the Indian stock market. Over the long term, this can generate higher returns. However, remember that it carries market risk. c) National Pension System (NPS): NRIs can also join the NPS. This provides strong security for your retirement. Conclusion: Earning in Swiss francs takes hard work. Saving it in rupees is smart. The three methods above are 100% legal. Sending money through illegal channels (such as hawala) is a serious punishable offense in both Switzerland and India. Therefore, always rely only on an NRE account and government-authorized services. Your hard-earned money will be safe, and your future will be bright. Disclaimer: This article is for informational purposes only. Before investing, consult your bank advisor or financial advisor.