Accounts

NRO Regular Savings Account

    The NRO Regular Savings Account enables you to manage your Indian Rupee earnings in India.

Features & Benefits

    • ATM Card : You get a ATM Card for use in India, against your NRO Regular Savings Account
    • Free Pay Orders : You can issue pay order from your account, absolutely free of charge
    • Free ATM Withdrawal : The NRO Regular Savings account enables you to make Free cash withdrawals at any Visa terminal in India
    • Free Payable-at-Par Chequebook : You get a payable-at-par chequebook for use in India
    • Doorstep Banking : This unique facility provides you the convenience of transaction from the comfort of you home, during your visit to India. This facility is applicable non-cash transactions only
    • Free SMS Alerts : This facility enables you to track your account on a daily basis. This facility is currently available in 8 international geographies only.
    • Free Internet Banking : The Internet Banking facility enables to you access your account anytime, from anywhere.
    • Free Utility Bills Payment : Using this facility, you can pay utility bills with select utility service providers in India.
    • NEAT (NRI Enquiry Assistance Tracker) : A unique service that facilitates you to seek responses to your queries related to banking, taxation, legal & finance
    • Concierge Service : You can avail of the concierge service to meet your financial requirements including tax returns filing, PAN application processing & property registration.

    Apply Now for a NRO Regular Savings Account and experience banking convenience at its best!

    FAQs related to NRO Regular Savings Account 

  • Zero Balance Account : The account is a zero balance account that saves you the hassle of keeping tab of your average balances

Documentation

    • Complete application form
    • Your Photograph
    • Photocopies of the passport showing your passport and person details*
    • Photocopy of your visa / resident permit / work permit*
    • One document indicating your mailing address as mentioned on the application form.*
    * All the documents need to be self attested.
    The above account opening form along with documents can be submitted at your nearest IndusInd Bank in India.

    How do I open an NRE / NRO Savings Account?
    To open an NRE / NRO Savings Account, all you need to do is: 
      • Download the application form (Please note that you would need to have Adobe Acrobat    Reader installed on your system) 
      • Complete the application form 
      • Attach a photograph 
      • Enclose photocopies of the passport showing your passport and person details*
      • Attach a photocopy of your visa / resident permit / work permit*
      • Attach one document indicating your mailing address as mentioned on the application form.*
    * All the documents need to be self attested. The above account opening form along with documents can be submitted at your nearest IndusInd Bank in India.

    How do I choose whether I need to open a NRE / NRO Account?

    NRE (Non Resident External)

      • Currency of funding- To be funded using foreign currency / foreign currency sources (other NRE/FCNR Accounts)
      • Tax implication- Both the principal amount and the interest earned on it is exempt from tax in India
      • Repatriation- The funds in the account can be converted to foreign currency and taken back to any overseas location
      • Joint Account holders- Can be held jointly along with either a NRI / PIO
      • Currency of maintenance- The funds in the account are maintained in India in Indian Rupees

    NRO (Non Resident Ordinary)

      • Currency of funding- Can be funded using foreign currency or Indian Rupees
      • Tax implication- The interested earned is subject to Tax Deducted at Source (TDS) of 30%+surcharge+edu cess
      • Repatriation- The principal amount is not freely repatriable. Conversion and transfer of funds in foreign currency is subject to certain restrictions
      • Joint Account holders- Can be held jointly with either a NRI / PIO or a Resident Indian
      • Currency of maintenance- The funds in the account are maintained in India in Indian Rupees

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