Home Personal Banking Corporate Banking MSME Banking Agri Banking NRI Banking Customer Care
A-   A   A+  
    Home     About Us     Investor     IDBI Group     CSR     Careers     Contact Us    Search
Hindi
  Net Banking Login
NRO Account
NRO Rupee Savings Account Features
NRO Fixed Deposits
NRO Recurring Deposits
Domestic Interest Rates
NRI Interest Rate
Service Charges
Corporate Service Charges
 
NRI > Account > NRO Account

NRO Account, NRO Account India – IDBI Bank NRO Account



Current / Savings / Term Deposits / Recurring Deposits accounts can be opened under this scheme. NRIs /PIOs can deposit their legitimate dues in India including current income such as rent, dividend, pension etc., sale proceeds of assets including immovable property acquired out of rupee/foreign currency funds or by way of legacy/inheritance and rupee gift/loan from a resident individual in NRO accounts. Proceeds of remittance from outside India and foreign currency tendered by the account holder in India can also be deposited in NRO account.

Interest income from a NRO account is liable to tax under the provisions of Income Tax Act in India. However, reduced tax benefit can be availed under Double Taxation Avoidance Agreement (DTAA).

An NRI/PIO may remit an amount up to USD 1 million per financial year out of the balances held in NRO Account for all bonafide purposes and subject to Reserve Bank of India guidelines in force for remittance of assets by NRI/PIO.

An NRI/PIO may also transfer from NRO account to NRE account within the overall ceiling of USD 1 million per financial year subject to payment of tax, as applicable.



Non-Resident Ordinary (NRO) Rupee Savings Account Features

If you are having any Indian income, our NRO Savings account is the right product for you.

  • Bullet Interest is offered at 4% p.a. calculated on daily balance maintained in the account


  • Bullet Joint Account can be opened with NRIs and Resident Indians


  • Bullet Domestic Debit-cum-ATM Card


  • Bullet Internet Banking facility


  • Bullet Mandate facility to enable your family member to operate your account on your behalf.




Non-Resident Ordinary (NRO) Fixed Deposit
Our NRO Fixed Deposits is an ideal financial tool to earn attractive interest on your investments

NRO Fixed Deposit Features
  • Bullet Attractive Interest rates


  • Bullet FD Tenure – 15 days to 10 years


  • Bullet Interest payout at Monthly basis, Quarterly basis or Cumulative interest credit on maturity


  • Bullet No penalty on pre-mature closure


  • Bullet Interest payable on prematurely withdrawn deposits will be the contracted rate or the rate applicable for which the deposit remained with the Bank, whichever is lower


  • Bullet Easy loan against deposits


  • Bullet Automatic renewal of deposit on maturity if instructed accordingly




Non-Resident Ordinary (NRO) Recurring Deposits
NRO RD is an ideal tool to invest a fixed sum every month over a period of time from your NRO account

NRO Recurring Deposits Features
  • Bullet Attractive Interest rates


  • Bullet RD Tenure – 1 year to 10 years


  • Bullet Installment amount per month – Rs. 100 to Rs. 1 Crore


  • Bullet No penalty on pre-mature closure


  • Bullet Interest payable on prematurely withdrawn deposits will be the contracted rate or the rate applicable for which the deposit remained with the Bank, whichever is lower


Home | Top
Service Charges : Domestic Interest Rates : NRI Interest Rate
Disclaimer : webmaster : Site Map : RBI : RTGS : FAQ Up Arrow Policies - Privacy : Hyperlink : Copyright : Screen Reader Access