Dear Shareholders, The Bonus shares have been credited to the D-mat A/c, physical share certificates are being dispatched to the respective shareholders. Trading approval is awaited from the stock exchanges which will be obtained by 28th July 2017.

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