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NRO Savings Account
Ancillary Service
- Free Internet banking
- Missed Call alert facility for obtaining account balance
- Free utility bills payment facility through E-pay
- ATM-cum-International Debit Card (EMV Chip based)
Repatriation
RBI allows repatriation only for i) current income ii) up to USD one million per financial year (April-March), for any bonafide purpose after payment of applicable taxes.
NRO Savings Account
Currency
INR
Fund Transfer
Free fund transfer within bank (Self or Third Party) . Free NEFT/RTGS through Net banking
Interest Rate
Rate as advised by Bank from time to time as per stipulated guidelines and will be displayed on the website
Taxation
Interest is taxable under Indian Income Tax Act.
NRO Savings 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 (persons of Indian nationality or origin) / with a Resident Indian
Mandate Holder
An Indian resident can be authorized to operate the account and provided with an ATM card for the account
Nomination
Facility available
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