| The Non Resident Ordinary (NRO) Current Account
is an account opened in Indian Rupees and is the
ideal way to route investments made out of Indian
funds and earnings on investments in India. You
can also use this account to credit dividends
from your Indian investments and other make your
legitimate local payments. Interest on the account
can be repatriated, after payment of the applicable
taxes.
Who Can Open a Non Resident Ordinary account?
Non-Resident individuals of Indian nationality
or of Indian origin.
Can I have a Joint Account?
When you open an NRO Account, you can open it
jointly with an Indian Resident.
How do I fund my NRO Current Account?
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Funds transferred from abroad in a freely
convertible foreign currency in an approved
manner or from an existing account held in
other banks.
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Directly remit
the amount to us.
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Tendering foreign currency notes/traveler's
cheques brought in during your visit to India
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Depositing Indian Rupees (Cash) or a cheque
from your local bank account in India
What are the balance requirements?
-
The Average Quarterly Balance: Current Account:
Rs. 5,000
-
Charges for Non-maintenance of Average Quarterly
Balance: Rs. 300 per quarter.
Features
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ATM Card: You are issued an ATM that
can be used at any DCB ATM
-
Letter of Mandate: You can give a
letter of mandate to your local representative
in India who can operate the account on your
behalf - Download
Mandate Form (PDF)
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Personalised Cheque book: You get
a personalised cheque book, that is issued
on your NRO Current Account
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Nomination Facility: Nomination is
allowed in NRO Current Accounts
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FREE Quarterly Statements & Monthly
Statements by E Mail: You are sent Quarterly
Statements to your mailing address. Monthly
statements and Duplicate statements are also
available for a fee
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Any Branch Banking: Enjoy the convenience
of banking at any of our branches
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Change of Residency Status: In case
of change of status of a person from Resident
to Non-Resident, his existing Resident Account
has to be designated as an NRO Account.
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Safe Deposit Locker at certain branches,
for safety of your valuables and important
documents while you are away.
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