A deposit plan that helps NRIs to invest from local profits and yields. Accounts can be opened by remittance from abroad or by legitimate dues in rupees of the account holder in India. The existing domestic A/C of the resident gets converted to NRO A/C on their taking up business, employment and immigration abroad. 

Deposits are accepted for periods ranging from7 days to 120 months.

  • The Account can be opened jointly with other NRIs as well as residents.

  • The Principal funds are Non-repatriable while the interest is repatriable after deduction of tax at source.

  • Attractive Rates of Interest.

  • Option for Reinvestment (cumulative interest) Plan and Quarterly Interest Plan.

  • Interest is paid and/or credited (in case of cumulative deposit) every quarter i.e. March, June, September and December.

  • Premature withdrawal for the purpose of renewal at better interest rate permitted without penalty clause on demand subject to conditions.

  • Automatic renewal on due date in the absence of specific instructions.

  • Loan facility available against deposited amount on easy terms.

  • Safe Deposit Locker facility available.

  • Provision for nomination. 

Non Resident Ordinary (NRO) (RUPEE) Accounts can be opened as recurring and current accounts as well.