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NRI Services

Announcements

WE HAVE STOPPED CASH REMITTACNE FOR CUSTOMER FROM W.E.F 24.04.2017, REMITTANCE CAN BE EFFECTED ONLY BY CHEQUE OR ACCOUNT EXCHANGE RATE. FOR €10000 AND ABOVE CONTACT US. THE RATES ARE SUBJECT TO CHAN View More...

THE SERVICE CHARGES FOR REMITTANCE ARE COMMON TO ALL INCLUDING OUR SARAL ACCOUNT HOLDERS. FOR OTHER BANK REMITTANCES,NEFT/RTGS APPLICABLE CHARGES WILL BE LEVIED ADDITIONALLY IN INDIA WE WILL PROVIDE View More...

Remittence form

Remittence form

Remittance form

Remittance form

Remittance form

Exchange Rates

Non Resident Indians (NRIs) and person of Indian Origin have two schemes for depositing their savings with Bank of India .

These are: -

Repatriable accounts

  • Foreign Currency Non Resident (FCNR) accounts
  • Non-Resident External (NRE) accounts, and,

The brief comparative features of the two schemes are :

PARTICULARS FCNR NRE
Who can open accounts NRIs NRIs
Joint accounts of two or more NRIs Permitted Permitted
Joint account with Residents Not permitted Not permitted
Nomination facility Available Available
Currency of account USD, GBP, EUR, JPY,AUD,CAD Indian Rupees
Repatriability Principal and interest repatriable Principal and interest repatriable
Type of account Term deposits Savings, Current and Term deposits
Period 12 months to 5 years 12 months to 10 years
Minimum amount USD 1,500 GBP 1,000 EUR 2,000 JPY 50,000 AUD 1,000 CAD 1,000  
Taxation (Indian taxes) Exempt from income and wealth tax Exempt from income and wealth tax
Liquidity Easy pre-mature encashment facility Easy pre-mature encashment facility
Automatic renewal facility (ARS) Available on signing of ARS agreement Available on signing of ARS agreement
Safe custody facility Available on request;
compulsory with ARS
Available on request;
compulsory with ARSnt
Renewals Deposit receipt to be submitted duly discharged within 14 days from date of maturity for retrospective renewal – alternatively renewal will be with simple interest from maturity date to renewal date Deposit receipt to be submitted duly discharged within 14 days from date of maturity for retrospective renewal – alternatively renewal will be with simple interest from maturity date to renewal date