NRO Term Deposit Account

Repatriation

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

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)

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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