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Deposits

NRO Rupee Deposits

An Indian rupee term deposit with repatriability subject to
Indian tax laws and RBI regulations

Automatic Renewal

Automatic renewal of your principal and interest on maturity

Repatriable Interest

Interest earned, upto 1 Million USD, in the current financial year is fully repatriable

Flexible Tenure

From 7 days to 10 years

Partial Withdrawal

Partial withdrawal of the deposits is allowed

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Eligibility and Documentation

Fees and Charges

Features and Benefits

Yes. You can avail of a loan against your NRO Deposits. The loan/overdraft can be used for personal purposes or for carrying on business activities other than

  • Relending
  • Agricultural/plantation activities
  • Real estate business

Yes. You can break your NRO Deposit before the maturity period. The Deposit would qualify for interest only if it has been held for a period of 7 days.

If you provide specific auto renewal instructions, the Deposit will be renewed on maturity in accordance with the instructions. In the absence of any instructions, Deposit will be renewed for the same period at the rates prevailing on the date of maturity.

TDS is deducted on the interest at the following rate 30.90%

Yes. You can have a nominee for the NRO Fixed Deposit.

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