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NRO Term Deposit Account
Repatriation
Principal upto USD 1 Million. Subject to FEMA 2000 guidelines from time to time.
NRO Term Deposit Account
Currency of deposit
Currency
Indian Rupees (INR)
Deposit Period
7 days to 120 months
Interest & Taxation
Interest Rate
Rate as advised by Bank from time to time as per stipulated guidelines and will be displayed on the website
Taxation
Income Tax deductible at source (as per DTAA executed by India with 71 countries)
NRO Term Deposit 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
Permitted
Nomination
Facility available
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NRO-Term-Deposit-Account
