Overview
A non-interest bearing rupee account to manage your income earned in India.
Features of NRO Current Account
Quarterly Balance
Low Average Quarterly Balance of Rs 10,000 ( A& B Category Branches)/ Rs 5000 ( C& Rural Category)
Debit Card
Domestic use Debit Card for access in India.
Free Cheque Book
Free Payable at par cheque book for use in India.
Digital Banking
Access to Best-in-class Digital Banking – Net Banking, Mobile Banking and Video Branch
Remittance options
Host of Online and Telegraphic options to transfer funds to India
Interest
An non-interest bearing account to efficiently manage your local rupee earnings in India
Repatriation
RBI allows repatriation of funds up to one million USD or equivalent per financial year for bonafide purposes (For e.g. education, medical expenses, employment etc.)
Funds
The funds are maintained in Indian Rupees
Joint Account
The account can be opened jointly with a NRI/PIO or a Resident Indian on Former or Survivor basis.
Mandate Holder
Appoint a mandate holder to operate your account in India.
NRO Current Account Eligibility Criteria
Eligibility Criteria
- NRIs and PIOs.
- Seafarers of Indian nationality / origin employed by overseas shipping companies
- Students pursuing studies in foreign countries.
Documentation
- Recent passport photograph
- Photocopy of the pages of the passport containing passport details and personal details
- Copy of Permanent Account Number (PAN) / Form 60 (in absence of PAN)
- Copy of valid proof of NRI status - Resident permit / Work permit/ Employment Visa/ others
- Document confirming either overseas or Indian address.
- In case of Seafarers, copy of CDC and Employment contract is mandatory
