NRO Current Account

NRO Current account

Sweep in Facility

Available

Ancillary Services

Free Internet banking Missed Call alert facility for obtaining account balance Free utility bills payment facility through E-pay Free Statement of Account ATM-cum-International Debit Card for Individuals

Repatriation

Principal upto USD 1 Million. Subject to FEMA 2000 guidelines from time to time

NRO Current account

Currency & Fund Transfer

Currency

Indian Rupees (INR)

Fund Transfer

  • Free Funds Transfer within the bank (Self A/c or Third party A/c)
  • Free NEFT/RTGS Facility through internet banking
  • Collection of Cheques and payments across Bank of India locations all over the country

Interest & Taxation

Interest

Not applicable

Taxation

Interest is taxable under Indian Income Tax

NRO Current account

Who can open?

NRIs (other than a person resident in Bhutan and Nepal) Individuals /entities of Bangladesh or Pakistan Nationality / ownership, and erstwhile Overseas Corporate Bodies require prior approval of RBI

Joint Account Facility

Account can be held jointly by a NRI / PIO with a Resident India

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NRO-Current-Account