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      NRI Recurring Deposit (NRO)

      CUB's NRI customers can open Recurring Deposit (RD) and transfer funds from NRO / NRE account.

      • Recurring Deposit can be opened for remitting fixed amount every month
      • Deposit can be opened jointly with a Non - Resident or Resident
      • Joint Account with a Resident in India on Former or Survivor Basis
      • Interest earned on the account is taxable
      • Principal together with interest can be remitted outside India or can be credited to NRE Account upto USD 1 Million per financial year subject to production of undertaking by the remitter and certificate from a Chartered Accountant
      • NO SERVICE CHARGES for inward remittances from abroad
      • Funds can be transferred from NRO / NRE account
      • Preclosure of deposit will attract penalty as per the Bank’s policy from time to time
      • Conversion of foreign currency into Indian Rupees or vice versa will attract service tax as per GoI notification
      • Loan against the security of deposit can be obtained subject to RBI guidelines and Bank’s policy in force
      • Attractive interest rates
      • Click here to download opening form
      • Click here to know current interest rate for NRO Recurring Deposit.
      • Click here for modes of remittances to remit funds
      • For queries, contact us - nri@cityunionbank.com