- Minimum period 1 year
- Maximum period 10 years
- Interest can be drawn monthly / quarterly (conditions)
- Premature withdrawals permitted (conditions)
- No penalty is levied after the minimum period of 1 year.
- Premature withdrawal permissible – Interest will be paid at the rate the deposit has actually run with the Bank after a minimum period of 1 year.
- No interest is payable for deposits of less than 12 months
- Principal & interest are fully repatriable.
- Nomination can be in favour of residents or non-residents. Funds lying in the NRE Account on the death of an account holder can be repatriated to his non-resident nominee. For remittance of funds by resident nominee outside India for meeting the liabilities or for similar other purposes of the deceased account holder, prior approval of RBI is required.
- The minimum balance of `5,000/- to be maintained in Current account.
Customers, who wish to open an account for the first time with our bank, should send cheque / draft as initial remittance along with duly filled a/c opening form, passport copies, photograph, attestation of signature, to the branch of your choice (Click here for BRANCH IDENTIFIER) to enable them to verify your status. Subsequently, the customers are advised to opt for SWIFT remittance quoting the Account Number / Customer Number, Name of Branch he / she prefers to transfer the amount
The operation in the accounts will be through
POA Holder can make withdrawals from the account only for local payments. The POA Holder is permitted to operate the Account to make investments on behalf of the account holder, if the account holder or the bank designated by him has been permitted by RBI.
However, the POA Holder is not allowed:
- To repatriate funds held in the account outside India;
- To make payment by way of gift to a resident on behalf of the account holder; or
- To transfer funds from the account to another NRE Account.
Click here for Interest rates
Application Form Click here to download Application Form
Details of documents to be enclosed Click here to download details of documents to be enclosed
SWIFT Routing Formats Click here to download the SWIFT Routing Formats