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  • Benefits
  • Most Important Terms and Conditions (MITC)
  • Most Important Terms and Conditions (MITC)

NRE Rupee Savings Account : Most Important Terms and Conditions (MITC)

  • NRIs can open this account by inward remittances in any convertible currency from abroad through normal banking channels by way of:
    • Demand drafts
    • Telegraphic transfers
    • Telex
    • Mail transfers
    • SWIFT
    • Transfer from any non-resident (external) rupee savings and fixed deposit account or foreign currency deposit (FCNR), local rupee cheques (drawn in India), etc., and cash in rupees cannot be deposited in this account.
  • During their personal visit NRIs can tender cash in foreign currency and foreign currency travellers’ cheques which can be converted into Indian Rupees for crediting their account.
  • Interest is payable half yearly (June and December). For current interest rates on deposits click here.

NRE Rupee Savings Account : Most Important Terms and Conditions (MITC)

  • NRIs can open this account by inward remittances in any convertible currency from abroad through normal banking channels by way of:
    • Demand drafts
    • Telegraphic transfers
    • Telex
    • Mail transfers
    • SWIFT
    • Transfer from any non-resident (external) rupee savings and fixed deposit account or foreign currency deposit (FCNR), local rupee cheques (drawn in India), etc., and cash in rupees cannot be deposited in this account.
  • During their personal visit NRIs can tender cash in foreign currency and foreign currency travellers’ cheques which can be converted into Indian Rupees for crediting their account.
  • Interest is payable half yearly (June and December). For current interest rates on deposits click here.

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