A deposit plan that enables opening an account through instruments such as Demand Drafts, Telegraphic Transfers, Telex, Mail Transfers etc. and which also provides standard banking facilities such as cheque book, provision for nomination and other remittance facilities.
The entire funds (principal with interest) can be repatriated.
- Funds including interests can be repatriated.
- Provides for easy liquidity and convertibility
- Offers remittance facilities
- Avail of cheque book facility
- Provision for nomination
- NRI's can open this account by Inward remittances in any convertible currency from abroad through normal banking channels by way of:
- Demand drafts
- Telegraphic Transfers
- Mail Transfers
- Transfer from any non-resident (External) Rupee Savings & Fixed Deposit account or Foreign Currency Deposit (FCNR), Local Rupee Cheques (drawn in India) etc. & cash in Rupees cannot be deposited in this account.
- During their personal visit NRI's can tender cash in foreign currency & foreign currency travellers cheques which can be converted into Indian Rupees for crediting their account.
- Interest is payable half yearly (June & December). For current interest rates on deposits click here.