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Accounts and features
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NRE
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NRO
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FCNR
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RFC
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Purpose of Account
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To park overseas savings remitted to
India after converting to INR
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To park Indian earnings like rent,
Indian salary, dividend etc
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To park overseas savings without converting
into INR
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For NRIs who are returning to India.
To park savings in foreign currency
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Currency
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Rupees
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Rupees
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USD, GBP, EUR, AUD, CAD & JPY
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USD, GBP, EUR & JPY
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Account Types
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Savings Bank Account
Fixed Deposit
Current Account
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Savings Bank Account
Fixed Deposit
Current Account
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Savings Bank Account
Fixed Deposit
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Minimum Balance Requirements
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SB: INR 15,000
FD: INR 25,000
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SB: INR 15,000
FD: INR 25,000
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FD: USD 1000, GBP 1000, EUR 1000,
JPY 200,000, CAD 2000 and AUD 2000
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FD: USD 1000, GBP 1000, EUR 1000, JPY
200,000
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| Period for Fixed
Deposit |
Min: 1 year
Max: 10 years
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Min: 15 days
Max: 10 years
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Min: 1 year
Max: 5 years
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Min: 30 days
Max: 3 years
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| Joint Holding |
Only with NRIs
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Both with resident / non-resident
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Only with NRIs
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Only with any person who is eligible
to open an RFC
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Interest Rate
(Click interest rates for current figures)
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NRE Rupee rates. Interest rates...
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NRO Rupee rates. Interest rates...
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FCNR rates. Interest rates...
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RFC rates.
Interest rates...
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| Tax deducted
at source |
Exempt from tax deducted at source
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Subject to tax deducted at source
at 33.99%
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Exempt from tax deducted at source
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Subject to tax deducted at source
at 10.2%
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| Frequency of
Interest (Fixed Deposits) |
Quarterly
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Quarterly
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Semi-annually
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Semi-annually
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| Repatriation
of Principal |
Freely Repatriable
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Freely Repatriable
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Freely Repatriable
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| Repatriation
of Interest |
Freely Repatriable
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Freely Repatriable
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Freely Repatriable
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Freely Repatriable
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| Loans |
Available against Fixed Deposits upto
90% of the loan amount subject to an upper limit of Rs 20 lakhs as per RBI guidelines.
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Available against Fixed Deposits upto
90% of the loan amount subject to an upper limit of Rs 20 lakhs as per RBI guidelines.
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As advised by the bank from time to time subject to an upper limit of Rs 20 lakhs as per RBI guidelines.
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Not available
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| Cheque Book
for Savings Account |
Available
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Available
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Not applicable
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Not available
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| Debit/ ATM Card
for Savings Account |
International Debit cum ATM card
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ATM card
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Not applicable
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Not available
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