NRO-SB account can be opened by remittance from abroad or by legitimate dues in Rupees of the account holder in India. The existing domestic account of the Resident gets converted to NRO Account on their taking up business, employment and/or immigration abroad.

  • The Account can be opened jointly with other NRIs as well as residents.

  • Minimum deposit of Rs. 1000 and Average Quarterly Balance of Rs. 2500 only.

  • Funds Transfer facilities through RTGS and NEFT within India and through SWIFT to outside India for eligible balances.

  • Nomination Facility available.

  • Personal Cheque Book Facility with cheques payable at par on all Anywhere Branches of the bank.

  • Income /remittances are subject to deduction of tax at Source at the prevailing tax rates.

  • The Principal funds are non-repatriable while the interest is repatriable after deduction of tax at source.

  • Interest applied on half-yearly basis (September & March).

  • a) Current income.

  • b) Upto USD 1 million per financial year (April- March), for any bonafide purpose out of the balances in the account / sale proceeds of assets in India acquired by way of inheritance / legacy inclusive of assets acquired out of settlement subject to certain conditions.

  • Internet Banking facility for viewing account statements and funds transfer.

  • Free Global Access Debit Card to account holder or for his assigned holder

  • Account Operations allowed through Letter of Mandate or POA holder in India.

  • Safe Deposit Locker facility available.

  • Free Monthly Statements over e-mail.

(Conditions Apply)