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NRO Reccuring Deposits

NRO Reccuring Deposits - Let your monthly surpluses become a building block for your future.

Quintessential for NRI’s with fixed monthly income,as NRO recurring deposit allows them to make convenient periodical savings. It would eventually help build up a sizable capital over time, in a regular and systematic way.

Features & Benefits

Minimum – Rs 50/- per month (in multiples of Rs 50/-). No ceiling on maximum amount.
Deposit can be opened for period ranging from 1 Year to 10 years.(In multiples of 3 months).
Standing instruction facility will enable automatic transfer of installment amount from your NRE/NRO savings account.
Earn Interest at Cumulative Fixed Deposit rates, compounding quarterly.
Premature closure is allowed at any point of time with a penalty@1% on the applicable rate of interest for the corresponding period for which the deposit remained with the bank.
Loan facility is available for Reccuring deposit against the amount present in your deposit account, subject to terms and conditions with interest @ only 2% above deposit rate.
TDS applicable as per the extant IT guidelines.
Nomination Facility available.

Interest Rates & Charges

For Deposit interest rates. Click here
For Service charges and fees. Click here