NRO Fixed Deposit Documents & Requirements

Non Resident Indian

Documentation for Non Resident Indian, while submitting the account opening form / documents at Kotak Bank Branches in India:

Photocopy of Indian Passport pages where your name, photograph, date and place of birth, specimen-signature, date of issue / expiry and address details are recorded; and
Copy of valid Visa / Work / Residence Permit (the visa could be either in the passport or given separately); and
Proof of Mailing Address (local or overseas address as selected for communication on the account opening form); and
Latest colour photograph (passport sized)

Documentation for Non Resident Indian, while sending the account opening from / documents overseas:

Photocopy of Passport pages where your name, photograph, date and place of birth, specimen-signature, date of issue / expiry and address details are recorded; and
Copy of valid Visa / Work / Residence Permit (the visa could be either in the passport or given separately); and
Proof of Mailing Address (local or overseas address as selected for communication on the account opening form); and
Latest colour photograph (passport sized)

The above documents mentioned under a, b and c needs to be attested by:

An overseas bank official located and operating in Argentina, Australia, Austria, Belgium, Brazil, Canada, China, Denmark, Finland, France, Germany, Greece, Bahrain, Qatar, Kuwait, Oman, Saudi Arabia, UAE, Hong Kong, Iceland, Ireland, Italy, Japan, Luxembourg, Mexico, Netherlands, New Zealand, Norway, Portugal, Russian Federation, Singapore, South Africa, Spain, Sweden, Switzerland, Turkey, United Kingdom and USA only. OR
Any Branch of an Indian Scheduled Commercial Bank having overseas branch OR
Notary Public or Equivalent Authority OR
The Indian diplomatic mission in the applicant’s country of residence OR
Self-Attestation. In case of Self Attestation, all documents submitted should be signed by respective account holders with the words ‘TRUE COPY’. Additionally,
- A signed cheque drawn in favour of Kotak Mahindra Bank A/c - (your name) on your existing account in India or abroad AND
- An original bank account statement (not more than 3 months old) or
- Original credit card statement (not more than 3 months old) or
- Original utility bill (electricity/piped gas/telephone/water - not more than 3 months old)

Notes:

Entry Work/Residence Visa accompanied with employment contract and customer signed declaration will be accepted to open an account. The customer has to submit the valid permanent visa before expiry of the Entry Work/Residence Visa failing which the account will be blocked/ closed.
Bridging Visa for customers resident in Australia can be accepted for account opening. For bridging visa - copy of customer passport which bears the original expired visa date along with email of bridging visa needs to be submitted.

Person of Indian Origin

Documentation for Person of Indian Origin (PIO), while submitting the account opening form / documents at Kotak Bank Branches in India:-

Photocopy of Foreign Passport pages where your name, photograph, date and place of birth, specimen-signature, date of issue / expiry and address details are recorded; and
Copy of valid Visa / Work / Residence Permit (required only if the country of mailing address is different from the country of citizenship and India, the visa could be either in the passport or given separately); and
Additionally, applicant has to provide any of the below mentioned document, if the place of birth is outside India:
- Copy of Indian passport of spouse OR
- Copy of Indian passport held by self or parents / grandparents at any time OR
- PIO Card OR
- OCI (Overseas Citizen of India) Card
Proof of Mailing Address (Indian or overseas address as selected for communication on the account opening form); and
Latest colour photograph (passport sized)

Documentation for Person of Indian Origin (PIO), while sending the account opening from / documents overseas:-

Photocopy of Foreign Passport pages where your name, photograph, date and place of birth, specimen-signature, date of issue / expiry and address details are recorded; and
Copy of valid Visa / Work / Residence Permit (required only if the country of mailing address is different from the country of citizenship and India, the visa could be either in the passport or given separately); and
Additionally, applicant has to provide any of the below mentioned document, if the place of birth is outside India:
- Copy of Indian passport of spouse OR
- Copy of Indian passport held by self or parents / grandparents at any time OR
- PIO Card OR
- OCI (Overseas Citizen of India) Card
Proof of Mailing Address (Indian or overseas address as selected for communication on the account opening form); and
Latest colour photograph (passport sized)

The above documents mentioned under a, b, c and d needs to be attested by:

An overseas bank official located and operating in Argentina, Australia, Austria, Belgium, Brazil, Canada, China, Denmark, Finland, France, Germany, Greece, Bahrain, Qatar, Kuwait, Oman, Saudi Arabia, UAE, Hong Kong, Iceland, Ireland, Italy, Japan, Luxembourg, Mexico, Netherlands, New Zealand, Norway, Portugal, Russian Federation, Singapore, South Africa, Spain, Sweden, Switzerland, Turkey, United Kingdom and the USA only. OR
Any Branch of an Indian Scheduled Commercial Bank having overseas branch OR
Notary Public or Equivalent Authority OR
The Indian diplomatic mission in the applicant’s country of residence OR
Self-Attestation. In case of Self Attestation, all documents submitted should be signed by respective account holders with the words ‘TRUE COPY’. Additionally,
- A signed cheque drawn in favour of Kotak Mahindra Bank A/c - (your name) on your existing account in India or abroad AND
- An original bank account statement (not more than 3 months old) or
- Original credit card statement (not more than 3 months old) or
- Original utility bill (electricity/piped gas/telephone/water - not more than 3 months old)

Seafarer Employed with Foreign Vessels

Documentation for Seafarer employed with foreign vessels, while submitting the documents at Kotak Bank Branches in India:-

Photocopy of Passport pages where your name, photograph, date and place of birth, specimen-signature, date of issue / expiry and address details are recorded; and
Copy of valid Transit / Work Visa (the visa could be either in the passport or given separately); OR Copy of Continuous Discharge Certificate (CDC). The CDC must indicate latest discharge stamp / last date of arrival in India, or a declaration that you are sailing for the first time; and
Valid Contract Copy OR Original letter on the letterhead from agent / principal carrying logo and address providing contract details namely: 1. Name of the employee 2. Employment in the principal shipping company (Name of the principal where employed & Address of the overseas company) 3. Name of the vessel & flag. 4. Name of the port. 5. Commencement of contract. 6. Tenure. 7. Salary in foreign currency. 8. Passport no.; and
Merchant Navy Declaration - Format provided in the Account Opening Form; and
Proof of Mailing Address (Indian Address only); and
Latest colour photograph (passport sized)

Disclaimer

All KYC documents provided to be mandatorily self-attested, except on furnishing original documents / certificates.

NRO Fixed Deposit

Enjoy safe and secured returns from the income earned either through Indian or foreign sources with our Indian Rupee deposit for NRIs & PIOs.

Minimum amount required for booking NRO Fixed Deposit is Rs. 50,000/- only

Auto renewal of fixed deposits on maturity

Interest earned on deposits is fully repatriable after payment of tax

Interest earned on deposit is at par with resident deposits

Other Features

NRO deposits tenure is same as that of resident deposits
Interests on NRO deposit are compounded quarterly
Phone Banking and Net Banking facilities are available
It can be jointly opened by NRIs/PIOs and Resident Indian
The principal amount on deposit is exempt from taxes in India. However, the interest earned will be subject to a tax of 30% (plus applicable surcharge and cess).