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.
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: