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Our NRO Rupee Term Deposits give you the ideal opportunity to get attractive returns on the money you have earned and saved in India, along with greater freedom to access your funds anywhere.
Our value-added services are specially designed to make your banking experience with us convenient and truly rewarding.
Features & Benefits
Convenience Banking:
Banking is extremely easy and comfortable with our Convenience Banking services. You have access to:
- Net Banking: Take your bank to your
living room, to your office or just about any place you
choose. Net Banking allows you easy access to your account
any time, from any place. Know more about Net
Banking.
- Phone Banking: Our Phone Banking officers
are on call 24 hours a day, 7 days a week for you. You can
call our toll free number 1800 116022 (North India) OR 1800
226022 (Rest of India) from anywhere in India without spending
a single rupee. International Callers can call on 0091 22
66006022 - ISD rates apply. Know more about Phone
Banking.
Attractive interest rates:
With us you get more value for your money. See our Interest Rates.
Auto renewal of Term Deposits:
Enjoy the benefits even if you forget to renew the deposits upon maturity.
Loan against Rupee Deposit:
Avail maximum liquidity for the funds in your NRE deposits.
Account operation:
The Account can be held jointly with Resident Indians. A minimum Balance of INR 50,000/- has to be maintained. Nomination facilities are provided with each account.
Source of funds:
Your account can be credited from any source in India. Foreign exchange funds can also be credited to an NRO Account. (Not recommended due to restrictions on repatriation of funds held in the NRO Account.)
Freedom of use and movement: Funds in
your NRO Account can be used for any transaction in India.
Now you can do more with your funds, for yourself and for
your family as indicated below.
- You can freely move the interest you earn, anywhere outside
India without the prior approval of the Reserve Bank of
India subject to guidelines.
- Current income like pension, dividend, rent, etc. credited
to the account can be repatriated. (Subject to the submission
of appropriate documentation).
- You can remit funds from your NRO account / sale proceeds
of assets up to a limit of USD 1 million per financial year,
subject to the submission of documents.
- You can settle your International Credit Card dues out
of funds held in your NRO account for cards issued by banks
in India.
Taxation - NRO: The principal amount in
your account is exempt from taxes in India. However, the interest
earned will be subject to a tax of 30% (for interest income
less than INR 10 lacs). Tax Deducted at Source (TDS) certificates
will be issued to you.
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