RFC Savings Account for Returning NRIs
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
RFC Savings Account for Returning NRIs
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
RFC Savings Account for Returning NRIs
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