RFC Savings Account for Returning NRIs

Disclaimer
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The Bank of India and its affiliates, subsidiaries, employees, officers, directors and agents shall not be liable for any loss, claim or damage whatsoever including in the event of deficiency in the service of such third party websites and for any consequences of error or failure of internet connection equipment hardware or software used to access the third party website through this link , slowdown or breakdown of third party website for any reason including and resulting from the act or omission of any other party involved in making this site or the data contained therein available to you including for any misuse of the Password, login ID or other confidential security information used to login to this website or from any other cause relating to your access to, inability to access, or use of the site or these materials in accordance thereto Bank of India and all its related parties described hereinabove stand indemnified from all proceedings or matters arising thereto.
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Ancillary Services
- 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
Funds are repatriable for bonafide purposes
Currency
USD,GBP
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 earned is exempted from Tax in India provided Resident but Not Ordinarily Resident (RNOR) status is held as per the Income Tax Act
Who can open?
NRIs who have returned for permanent settlement after being resident outside India for a continuous period of not less than one year. These funds can be transferred to an NRE/FCNR account upon change of status to NRI again
Joint Account Facility:
Account can be held jointly by eligible Returning NRI with a Resident Indian (Former or Survivor basis). The Resident Indian must be a close relative as defined in Section 6 of the Companies act, 1956.
Mandate Holder
Not applicable
Nomination
Facility available
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