It can be opened only by non resident Indians (NRIs)
It can be opened jointly with another NRI (in case you wish to open the account jointly with your spouse(s) he should also be an NRI).
You can avail Internet Banking facility available, wherein You can view and transact on your account(s) on line
The minimum balance of Rs.1,000/- is to be maintained in Savings Bank a/c.
The minimum balance of Rs.5,000/- to be maintained in Current account.
INTEREST RATE FOR NRE SAVINGS BANK DEPOSITS: 3.50%
INTEREST RATE FOR NRE CURRENT A/C: NIL Permissible Credits
Remittances from abroad (SWIFT, Telegraphic transfers) in permitted currencies.
Personal cheque drawn on your account(s) maintained abroad.
Proceeds of Foreign Currency Notes/ Travellers cheques tendered by you in person during your visits to India.
Amounts in excess of $5000 USD (or equivalent) in currency or $10,000 USD (or equivalent) in Travelers cheques should be accompanied by a Currency Declaration Form.
Drafts issued by Bank/Exchange Cos. Abroad.
Transfer from another NRE account.
Interest/dividend/maturity proceeds of investments made in India on repatriable basis.
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.
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 customer are advised to opt for SWIFT remittance quoting the Account Number / Customer Number, Name of Branch he / she prefers to transfer the amount
Operation In Accounts
The operation in the accounts will be through
Permissible Credits
