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NRO
Rupee
Deposit

Axis Bank offers the NRO deposit. The benefits of NRO Rupee deposits listed below. The NRO Rupee deposit offered by Axis Bank comes with an automatic renewal with flexible tenure starting from 7 days and also offer the facility of partial withdrawal.

Continue earning interest with automatic renewals with automatic renewal of principal and interest on maturity

Repatriate your interest earned - Interest earned in the current financial year is fully repatriable (after deducting tax)

Funds in NRO account can be repatriated upto USD one million per financial year# for all bonafide purposes

Choose tenure as per your financial requirements - Tenure can range from 7 days to 10 years

Enjoy competitive rates of interest - Attractive interest rates available

Withdraw a part of the deposit when required - Partial withdrawal of deposits is allowed

Take a loan against deposits

Loans may be granted in rupees against the security of FDs subject to usual norms except for the purpose of relending or carrying on agricultural or plantation activity or for investment in real estate Regulations relating to margin and rate of interest as stipulated by RBI shall be complied with

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Encash the deposit prematurely in case of a financial emergency

For Rupee Term Deposits of a contracted amount less than Rs. 5 crores opened/renewed on or after May 1, 2014 (including Flexi deposits), interest rate shall be 1.00% below the card rate, prevailing as on the date of deposit, as applicable for the period the deposit has remained with the bank or 1.00% below the contracted rate, whichever is lower ("Premature Closure Penalty Rate"). However, for Rupee Term Deposits closed within 14 days from the date of booking of the deposit interest rate shall be rate applicable for the period the deposit has remained with the bank or the contracted rate, whichever is lower. For Rupee Term Deposits of a contracted amount less than Rs. 5 crores opened/renewed on or after December 15, 2017 (including Flexi deposits), for the first partial withdrawal with value <= 25% of Term Deposit original principal value, Premature Closure Penalty Rate will not be applicable. For subsequent partial withdrawals, Premature Closure Penalty Rate will apply on the entire withdrawal amount. For the partial withdrawal with value > 25% of Term Deposit original principal value, Premature Closure Penalty Rate will be applicable for the entire withdrawal amount. However, for Rupee Term Deposits closed within 14 days from the date of booking of the deposit, interest rate shall be rate applicable for the period the deposit has remained with the bank or the contracted rate, whichever is lower. For Rupee Term Deposits of a contracted amount of Rs 5 Crores and above, interest rate shall be 1% below the card rate prevailing as on the date of deposit, as applicable for the period the deposit has remained with the bank or 1% below the contracted rate, whichever is lower. This would also be applicable on Rupee Term Deposits closed within 14 days from the date of booking of the deposit. In case the term deposit is closed prematurely , before completion of the minimum period of 7 days, no interest shall be paid for the said term deposit

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Avail of overdraft facility - Upto 85% of the deposit

Ensure ease of operation - Nomination facility available

NRI Easy Guide

NRI Easy Guide

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