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
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