NRI BankingAvail our NRI Banking, so that you can afford multiple and varied options of NRI accounts
NRO Rupee DepositsNRO-SB account can be opened by remittance from abroad or by legitimate dues in Rupees of the account holder in India. The existing domestic account of the Resident gets converted to NRO Account on their taking up business, employment
Remittance from AbroadA deposit plan that provides standard banking facilities such as Cheque book, provision for nomination and other remittance facilities and also allows repatriation of entire funds.
Open a NRI Deposit AccountA deposit plan that provides standard banking facilities such as Cheque book, provision for nomination and other remittance facilities and also allows repatriation of entire funds.
A Term Deposit plan that provides for payment of Interest on quarterly basis with option of reinvestment. The plan offers renewal of deposits and the option of repatriation of proceeds in the currency of your own choice.
Account can be opened by Inward remittances in any convertible currency from abroad through normal banking channels by way of:
Demand drafts, Telegraphic Transfers, Mail Transfers, SWIFT
Foreign Currency Notes/Travelers cheques (during your personal visit) as well as transfer from any non-resident
(External) Rupee Savings & Fixed Deposit account or Foreign Currency Non Resident deposit Account.
Deposits can be placed for periods ranging from 1 year to 3 years.
Repatriation of these deposits and interest allowed freely in Foreign Currency at a place of your choice.
“Best in the Industry” Interest rates coupled with convertibility.
Option for Reinvestment (cumulative interest) Plan and Quarterly Interest Plan.
Interest paid/credited (in case of cumulative deposit) every Quarter (i.e. March, June, September & December).
Premature withdrawal for the purpose of renewal at better interest rate permitted without penalty clause on demand (conditions apply).
Interest and balances are exempted from tax.
Automatic renewal on due date for minimum maturity of 1 year, in the absence of specific instructions.
Loans against deposits subject to a maximum of Rs. 20 lacs in Indian Rupees available on easy terms.
Payment of proceeds in the currency of your choice.
Safe Deposit Locker facility available.
Provision for nomination.
Non Resident External (NRE) (RUPEE) Accounts can be opened as recurring and current accounts as well.
Proceeds of remittances received from abroad in freely convertible currency through normal banking channels.
Proceeds of personal cheques drawn by you on your foreign currency account and bank drafts payable in any permitted currency including instruments expressed in Indian rupees for which reimbursement will be received in foreign currency, deposited by you in person during your temporary visit to India.
Proceeds of Foreign Currency Notes and Traveler’s Cheques of the Account holder during his personal visit to India, provided the amount was declared on CDF where FC notes exceed USD 5000 or equivalent and FC notes and Traveler cheques exceed in aggregate USD $ 10,000 or equivalent.
Transfers from other NRE/FCNR accounts.
Interest accruing on the funds held in the account.
Interest on Government securities and dividend on units of mutual funds, provided the securities/units were purchased by debit to your NRE/FCNR account or out of inward remittance through normal banking channels.
Any other credit covered under General or Special Permission granted by the Reserve Bank of India.
Remittances outside India.
Transfer to NRE/FCNR accounts of the account holder or any other person eligible to maintain such account.
Investment in shares/securities /commercial paper of an Indian company or for purchase of immovable property in India provided such investment/purchase is covered by the regulations made, or the general/special permission granted, by the Reserve Bank.
Any other transaction if covered under general or special permission granted by the Reserve Bank.