NRE/ NRO Account
For the Global Indian, UGB has introduced a Non Resident External (NRE) and a Non Resident Ordinary (NRO) saving accounts
- NRE SAVING & TERM DEPOSITS
- SB can be opened only by non-resident Indians (NRIs)
- Can be opened Jointly only with another NRI
- Minimum balance Rs. 1000/-
- NRE Term Deposits : 1 to 5 yrs NON RESIDENT (ORDINARY ACCOUNTS)
- Can be joint with other non-residents / residents.
- Can be Saving Bank,Current Accounts, Fixed Deposits, Recurring Deposits .
- Accounts can be withdrawn for making local payments in rupees.
- Income Tax at a flat rate of 30% will be deducted at source on interest earned in the NRO accounts irrespective of the amount of interest.
- Advance against NRO term deposits is permissible.
- Income in India can be credit to NRO accounts.
- NRE Saving Bank Account
- NRE Current Account
- NRO Accounts (Rupee Accounts for Crediting Income in India )
- Specially Designed A/C opening form
- A Resident can be authorized to operate his /her account through a power of Attorney or Letter of Authority.
- Nomination facility Available.
NRE Rupee Account | Savings Bank | Current Accounts | Term Deposits (Interest Paid out Quarterly) | Special Term Deposits (Interest Compounded Quarterly) | Non-Resident (Ordinary) Account | NRO Accounts Rupee Accounts for Crediting Income in India.
- Copy of Passport| Visa /Residence permit
- 2 Photographs
- Initial Money Remittance
- Signature may be verified by anyone of the following -
- Indian Embassy/ consulate / Any Person known to the Bank / Notary Public
- Click HERE for more details about Deposit interest rates& Service charges.
- For more quries please contact to your nearest branch.
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