Please click here to know about the eligibility requirements for opening an NRE account.
Want to create a fund for your children's education or marriage or to buy a house or for a dream holiday? Whatever may be your financial goals, through our Recurring Deposit Scheme, you can save a little every month so that at the time of need you have sufficient funds to achieve your financial goals. So, set aside a small amount every month and earn at compounded rates of interest.
|Tenors||Below Rs.1 Crore||Rs.1 Crore & Above|
|Premature Withdrawal||No interest is payable if the deposit is withdrawn before one year.||No interest is payable if the deposit is withdrawn before one year.|
Effective 01st April 2017, Penalty for Premature Withdrawal for Retail Term Deposits upto Rs.5.00 lacs will be 0.50% (all tenors).
In all other cases, on pre-mature withdrawal of the deposit (after completion of 1 year), interest shall be 0.50% or 1% below the rate applicable at the time of Deposits for the period Deposit remained with the Bank or 0.50% or 1% below the contracted rate, whichever is lower.
On pre-mature withdrawal of the deposit (after completion of 1 year), interest will be paid at applicable rate for the period the deposit has actually remained with the Bank or contracted rate less Premature Penalty of 1%, whichever is lower.
Interest income is exempted from Indian income tax
You can avail a loan in Indian rupees against the security of NRE - TDR / STDR / RD deposits. The loan may be used to meet emergency financial requirements, to carry on business activities, for direct investment in India or for acquiring a flat / house in India.
You need not close the deposit prematurely, and can avail the loan at the branch where you maintain the deposit, as an overdraft or as a demand loan. Maximum loan of 90% of the face value of deposit including the interest accrued. The applicable interest rate on loan against Deposits is @ 1.00% over the rate paid on the relative deposit offered as security. For more information, please click here.
You can avail following facilities with your NRE account:
The funds in NRE Savings Bank account and deposits are fully repatriable i.e. funds can be transferred to any overseas account. You can place a request for transfer of funds as per any of the following mode:
Please fill up the account opening application as per any of the following mode and send it to bank accordingly:
NRIs are permitted to open NRE account with their resident close relative (as mentioned below or they are members of a Hindu undivided family) as a joint holder on “Former or Survivor” basis (NRI being the former):
The guidelines issued by RBI relating to ‘Know Your Customer’ (KYC) norms mandate the Bank to periodically update customer record with current information relating to customer's identity and address. Accordingly, your account with us will be due for update, if it was opened more than two years ago.
You are therefore requested to kindly submit documents for re-KYC to your home branch, along with the request letter. Please click here, to download the standard request letter containing the documents and information required.
We request your co-operation in order to make your account compliant with the regulatory guidelines.
In case, you have forgotten your login password for your Internet Banking (INB) facility, it can be reset online itself, with the help of your Profile Password.
For the purpose, please click on, Forgot Login password? on Personal Banking Login page and follow instructions.
We have started emailing detailed position of NRI accounts with us as a password protected PDF attachment on the registered e mail address, beginning from March 14 quarter. In case of any issues, please contact your home branch.
Now, you can place a request for outward remittance or funds transfer (forex) favouring yourself or third party from your NRE Savings Bank account or NRE fixed deposit account or FCNR (B) account holders to any account overseas Internet Banking facility.
In order to use this facility, please follow the below mentioned procedure:
Now, you can place a request for disposing off a remittance expected into your NRE / NRO account with us. It will serve three purposes, as mentioned below:
To use this facility, please go to? Inward Remittance Disposal Request? under, NRI Services? tab of ‘e-Services’ in the menu bar of your Internet Banking account.
If you have not applied for Internet Banking (INB) earlier or does not have INB facility, you can now self-register for it online without visiting the branch.
Simply, you have to fill in your account details to create your temporary username and passwords and thereafter you can authenticate it by anyone of the following mode:
For applying, please follow the below mentioned procedure:
Now, you can activate your debit card and generate ATM PIN instantly through internet banking facility. In order to use this facility, please follow the below mentioned procedure:
Now you can add, change, cancel or inquire a nominee in your NRE / NRO savings bank or NRE / NRO / FCNR (B) deposit accounts through Internet Banking (INB) facility. In order to use this function, please follow the below mentioned procedure:
In order to change existing nominee, please cancel nominee first and then register a fresh nominee as per procedure mentioned above.
Now, you can create an Overdraft (OD) account against your existing NRE / NRO deposit through internet banking.
In order to create it, please follow the below mentioned procedure: