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NRO Recurring Deposits – Interest rates upto 6.3% - NRI Banking
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 for a minimum period of one year and upto a maximum period of 10 years
- 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 will be subject to TDS.
- 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 GST 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.
- For queries, contact us - nri@cityunionbank.com
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