Saving is good, saving smartly is even better.
Choose a suitable type of Account.
NRO Rupee Savings Account
-
Benefits
-
Most Important Terms and Conditions (MITC)
NRO Rupee Savings Account : Benefits
Close relatives can become joint account holders
Avail remittance facilities
Avail cheque book facility
Provision for nomination
NRO Rupee Savings Account : Most Important Terms and Conditions (MITC)
- The principal funds are entirely non-repatriable while the interest is repatriable after deduction of tax at source.
- NRO FD/SB: 30.90% withholding tax plus applicable surcharge/cess is applicable in NRO FD/SB accounts where DTAA is not applicable or the NRI depositor is not in a position to provide required documents/formalities for availing rebate in withholding tax. Surcharge is applicable @2.5% of TDS/tax amount to foreign company if the company has net income exceeding Rs. 1 crore.
- Interest rates on deposits payable half-yearly (June and December).
