NRE Term Deposits

This is an opportunity to earn higher interest on your savings. You can choose deposits with interest payable either on a cumulative (Reinvestment Plan) or non-cumulative basis (Term Deposits).

FEATURES & BENEFITS:

  • Minimum deposit of INR. 5,000/- required to open a Fixed deposit.Minimum and Maximum periods for which the deposits accepted is 1 year and 3 years respectively.
  • Time based rate of interest.
  • Potential to earn compound interest by reinvesting interest earned.
  • Auto renewal facility available.
  • Avail loan up to 80% of the deposit, or INR. 2.00 MM, whichever is lower.
  • Repatriate your complete deposit (principal and interest) at any time.
  • The entire deposit (principal and interest) is exempt from tax.
  • Nomination facility available.

Under this policy, prepaid instruments like Demand Drafts, Interest / Dividend warrants shall be treated on par with cheques.

ELIGIBILITY:

The following can apply for a Fixed Deposit

  • Non resident Indians (solely or jointly with other non-resident Indians)
  • Sole Proprietorship Firms.
  • Partnership Firms.
  • Limited Companies.
  • Trusts / Societies.

SUPPORT DOCUMENTATION ON PROOF OF IDENTITY AND ADDRESS:

Along with the account opening form application, self attested copies of following be forwarded to complete the formalities as per the central bank ( viz Reserve Bank of India ) Know your customer guidelines:

  • PAN Card.
  • Valid Passport ( Copies of pages having the photograph. Siganature, Address, Date of birth, Visa endorsement and place of issue and expiry ).
  • Original Letter from Employer certifying the residential address of applicant. Signature of the employee has to be attested on the letter.
  • Employee Identity Card.

Note : Mandatory to provide Permanent address and telephone number.

FEES & CHARGES FOR SAVING ACCOUNT:

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