Accounts / Deposits

Accounts / Deposits

Your earnings abroad can earn attractive returns back home. Select from our range of accounts, with flexibility to maintain savings in Indian or foreign currency, offering tax free interest income in India and other benefits. The comparison of different types of accounts and deposits is given below.

Please choose your Account / Deposit using right navigation links, to know more.

Accounts NRE NRO FCNR (B) RFC
Purpose of account To park funds remitted from overseas to India To park funds remitted from overseas to India or funds from Indian sources To park funds, in foreign currency, remitted from overseas to India To park funds for returning Indians (for permanent settlement)
Currency Rupees Rupees USD, GBP, EURO, CAD, JPY, AUD USD, GBP, EURO
Types of account Savings, Current, Fixed Deposits (TDR/STDR) and RD Savings, Current, Fixed Deposits (TDR/ STDR) and RD Fixed Deposits (TDR/STDR) Fixed Deposits (TDR/ STDR)
Investment Term Min: 1 Year
Max: 10 Years
Min: 7 Days
Max: 10 Years
Min: 1 Year
Max: 5 Years
Min: 1 Year
Max: 3 Years
Initial funding for opening
  • Savings, Current: Nil
  • RD: Rs. 100
  • TDR, STDR: Rs. 1000
  • USD 1000
  • GBP 1000
  • EURO 1000
  • CAD 1000
  • JPY 1000
  • AUD 1000
  • USD 1000
  • GBP 1000
  • EURO 1000
Minimum Balance
  • Savings, Current:
  • Monthly Average Balancec (MAB):
  • Metro MAB: Rs. 5000/-
  • Urban MAB: Rs. 3000/-
  • Semi-Urban MAB: Rs. 2000/-
  • Rural MAB: Rs. 1000/-
  • RD: Rs. 100
  • TDR, STDR:
    • For Personal Banking Branches in:
      • Metro / Urban centres: Rs. 1 lakh
      • Semi-Urban / Rural centres: Rs. 50,000
    • For all other Branches: Rs. 1000
Joint Holding with
  • NRIs
  • Resident Indians on Former or Survivor basis
  • NRIs
  • Resident Indians on Former or Survivor basis
  • NRIs
  • Resident Indians on Former or Survivor basis
Only with any person who is eligible to open an RFC
Repatriability of Principal Freely Repatriable Current income up to USD 1 million (Conditional) Freely Repatriable Freely Repatriable
Repatriability of Interest Freely Repatriable Freely Repatriable subject to deduction of tax Freely Repatriable Freely Repatriable
Taxability in India Interest income tax free in India Interest income is taxed as per India Income Tax Rules. Reduced tax under Double Tax Avoidance Agreement Interest income tax free in India Interest income tax free in India till  account holders status changes