NRI Banking

Non-Resident External (NRE) Saving Bank Account

Grow your savings with peace of mind

The NRE savings account lets you transfer your earnings to India conveniently and securely. You can repatriate the funds held in the account along with the interest earned at any point in time without paying tax on the interest earned.

  • The account is maintained in INR only
  • Account can be held jointly with a Non-Resident Indian (persons of Indian nationality or origin) / or with a Resident Indian (close relative) on former or survivor basis
  • You can appoint a mandate holder or authorize a person to operate the bank account on your behalf
  • Pay zero tax on the interest earned in your NRE account in India
  • Conduct transactions online with 24/7 security via Internet Banking
  • Competitive exchange rates available when converting foreign currency into Rupees

Non-Resident Ordinary (NRO) Saving Bank Account

Secure your earnings in India while working abroad

Open an NRO Savings Account to manage and secure your income in India, whether from rent payments, dividends earnings or others.

  • The account is maintained in INR only
  • Account can be held jointly with a Non-Resident Indian (Persons of Indian nationality or origin) / or with a Resident Indian on former or survivor basis
  • Internet & Mobile Banking
  • RBI allows repatriation only for i) current income ii) up to USD 1 (one) million per financial year (April-March), for any bonafide purpose after payment of applicable taxes
  • Is taxable under Indian Income Tax Act
  • You can appoint a mandate holder or authorise a person to operate the bank account on your behalf
  • Competitive exchange rates available when converting foreign currency into Rupees

Resident Foreign Currency Account (RFC)

Earn high returns on funds you hold in foreign currency

The Resident Foreign Currency Account (RFC) gives you the opportunity to earn high returns on all funds you hold in foreign currency without the risk of foreign exchange conversion. Your INR savings can also be converted to foreign currency and kept in an RFC.

Credit your RFC account with the entire amount you saved while an NRI, with the ability, ease and flexibility to remit, repatriate and hold your savings in India depending on your preferences and residential status.

  • Flexibility in opening account in multiple currencies (US Dollars (USD), Pounds Sterling (GBP), Euro (EUR) & Japanese Yen (JPY))
  • Withdraw foreign currency as required
  • Protection for your savings against exchange rate fluctuations
  • No ceiling on the maximum amount you can deposit into the account
  • Account can be held jointly by eligible returning NRI

Non-Resident External (NRE) Term Deposit

Attractive returns for various tenures

Open a Fixed Deposit account in INR and enjoy attractive returns for various tenures ranging from 1 year to 5 years.

  • The deposits is maintained in INR only
  • Multiple tenure options ranging from 1 year to 5 years
  • Deposit can be held jointly by a Non-Resident Indian (persons of Indian nationality or origin) / by a Resident Indian close relative (Former or Survivor basis).
  • Principal & Interest are fully repatriable
  • Hassle-free renewal: Automatic renewal of your deposits on maturity.
  • Interest earned is exempted from Tax in India

Non-Resident Ordinary (NRO) Term Deposit

Earn globally, save locally

Choose from a wide range of tenures and enjoy attractive interest rates applicable to local resident deposits. The Non-Resident Ordinary (NRO) term deposit is repatriable overseas from India after the deduction of applicable taxes.

  • Multiple tenure options ranging from 7 days to 5 years
  • Deposit can be held jointly with a Non-Resident Indian (persons of Indian nationality or origin) / or with a Resident Indian on former or survivor basis.
  • Easy movement: Interest earned in current financial year is fully repatriable (after deducting tax). Funds in NRO accounts can be repatriated up to USD 1,000,000 per financial year for all bona fide purposes.
  • Hassle-free renewal: Automatic renewal of your deposits on maturity.
  • Interest earned is taxable in India.
  • NRO deposits are maintained in Indian rupees only.

Foreign Currency Non-Resident (FCNR) Deposit

Bring home your savings from abroad tax free

The Foreign Currency Non-Resident (FCNR) term deposit account is a fully repatriable foreign currency term deposit account with currency options as allowed by the Reserve Bank of India. This account comes with zero tax deduction at source on the interest earned.

  • Deposit can be held jointly by a Non-Resident Indian (persons of Indian nationality or origin) / by a Resident Indian close relative (Former or Survivor basis)
  • Flexibility in opening account in multiple currencies (US Dollars (USD), Pounds Sterling (GBP), Euro (EUR) & Japanese Yen (JPY)).
  • Multiple tenure options: Ranging from 1 to 5 years.
  • Hassle-free renewal: Automatic renewal of your principal and interest on maturity.
  • Easy movement: Principal amount and interest earned are fully repatriable.
  • Tax benefits: Interest earned is not taxable in India.

Remittance

Send the funds to meet your family’s day-to-day requirements

Direct Remit

Send the funds to meet your family’s day to day requirements and future goals quickly and with complete peace of mind.

Telegraphic Transfer

Transfer money from your BBK or other bank account overseas to India quickly, easily and securely.

Useful Links & Documents

Required Documents for Account Opening

Contact Us

Bank of Bahrain & Kuwait B.S.C is now registered with DICGC.

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All the locker –Hirer are advised to execute the fresh locker agreement by contacting through their base branch on immediate basis as per the RBI revised instructions.

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Dear Customer, as a valuable customer for our bank we welcome you to join the FX retail platform through the link https://www.fxretail.co.in/#/ for getting access to Forex dealing in USD/INR currency pair. In case of further queries, you can reach us on 022- 22-43349205/43349256/43349257 to Mr. B. Harikumar / Mr. S. Venkatachalam / Mr. Ankush Jain – Bank of Bahrain and Kuwait B.S.C"

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“ATM/Debit card can be managed/blocked using mobile banking app “BBKonnect”- please download from App Store/ Play store.”

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Dear Customer, Consequent upon spurt in COVID-19 cases across India and Government/local bodies actions, we request all our valued customers to use online banking for their regular banking transactions and also minimize use of cash as low as possible. Currency changing hands may also be carrying virus. For any help and details visit our website www.bbkindia.com . We assure our commitment to you and thank you for your co-operation in the current situation"

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Reserve Bank of India(RBI) vide circular No DPSS.CO.RPPD.No 309/04.07.005/2020-21 dated Sepetember 25,2020 had announced introduction of Positive Pay System for CTS for all cheques value Rs 50000.00/- and above.

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Dear Customer, As per Govt. guidelines and to ensure the health and safety of our customers,vendors and employees, all visitors to our branches are required to wear a face mask maintain social distancing. Entry will be allowed post screening for body temperature and status on the Aarogya Setu app. We request your co-operation in compliance of these guidelines.

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An Appeal (Hindi-pdf) with reference to Pradhan Mantri Garib Kalyan Package, in the light of COVID-19.

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“Dear Customer,Bank of Bahrain and Kuwait B.S.C. will never ask you to share sensitive information like OTP, CVV, passwords for moratorium on loan EMIs or any other payment. Beware of such fraudulent calls or emails. DO NOT share your OTP, User ID, Password, CVV, Expiry date etc with anyone. Stay safe and stay alert. To know more, visit www.bbkindia.com”

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“Thank you for choosing to do business with BBK. Due to global COVID-19 pandemic, there is a great deal of uncertainty in the markets and in the current situation, BBK highlights the need for clients to carefully consider any new product and independently review risks at this highly sensitive and volatile time. We caution our clients to remain focused and vigilant in these times as the human, economic and financial impacts of this pandemic have already been huge, and it is not yet clear how quickly the situation will be brought under control and normal economic activity can resume.”

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“As per RBI guidelines, National Electronic Fund Transfer (NEFT) is available 24 x 7 with effect from December 16, 2019.”

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* TDS of 2% would be levied on cash withdrawals exceeding Rs 1 crore during a financial year. Click here for further details.

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* Waiver / reduction of NEFT/RTGS charges with immediate effect Refer schedule of charges for details. Please click here for Revised service charges w.e.f.01.10.2022.

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*Banking Facilities for Senior Citizens and Differently abled Persons.

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* W.E.F 01.07.2017 Bank has been collecting GST @18% on applicable commission/service charges in lieu of service tax @15%.

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* W.E.F 01.07.2017 GST on Forex conversions are being collected. Click here for rates.

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* Please click here for current MCLR rates.

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* Please click here for current interest rates on deposits.

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* Details of Unclaimed Deposits. Please click here.

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* FREE OF CHARGE unlimited usage of BBK ATM cards in other Banks’ ATMs.BBK ATM cards can be used in all ATMs of NPCI member Banks network. Click here for details.

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*Safe Deposit Lockers facility available at our Hyderabad, Aluva & New Delhi branches. Please contact branch for details.

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* Interest on all types of Savings Deposit shall be credited at quarterly intervals on the last working day of March, June, September and December.

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* As per Income Tax rules, applicable TDS on deposit account is deductible on accrued interest. TDS so deducted is non-refundable.

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* Customers are advised to register their mandates for payment before maturity on joint deposits held on "Either or Survivor" or "Former or Survivor" basis.

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* Customers are advised to issue CTS compliant cheques only.

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* BBK presently does not have any 3rd Party Agents/DSAs. The marketing & processing of all products are done through its branches, by the bank staff.

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* Rupee Floating Loans/ Credit limits shall now be priced at MCLR effective 01/04/2016"click here for details

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