Account Type

NRO Savings Bank Account(NRO SB)

Type of Accounts

Savings Deposit

Opening of Accounts/Sources of Funding The Accounts

1. 1. On receipt of duly completed account opening form(AOF) along with the documents specified there in.
2. 2. Re-designating existing resident SB account.
3. 3. Fresh remittances by way of TT/MT/DD/IMO/FCTC/FC
4. 4. Transfer from existing NRO/NRE/FCNR(B)
5. 5. Out of legitimate dues of the NRIs in India.
6. 6. Operation allowed through PA Holder for domestic payments.

Caution::
7.Accept of FCTC/FC subject to CDF(Beyond Limit)
8.Third Party FCTC will not be accepted.

ROI

Rate of interest applicable to these accounts and guidelines for opening, operating and maintenance of such accounts shall be in accordance with directives/instructions issued by Reserved Bank from time to time.

Who Can Open

Any Person resident outside India(as per regulation 2 of FEMA),may open NRO account with an authorized dealer or an authorized bank for the purpose of putting through bonafide transactions dominated in Rupees, not involving any violation of the provision of the FEMA rules, regulations made there under. Opening of accounts by individual/entities of Bangladesh/Pakistan nationality/ownership requires prior approval from RBI.

Tax on Interest Income

Tax will be deducted as per guidelines

Loan Facility

Available

Type of ATM/Debit Card

Classic Card

Debit Card Charge

Issue Charge-Free
Annual maintenance charge-As per applicable charges.

Access to own Bank ATM

8 transactions (financial+non-financial) per month free.