NRO Savings Account

BOI

Ancillary Service

  • Free Internet banking
  • Missed Call alert facility for obtaining account balance
  • Free utility bills payment facility through E-pay
  • ATM-cum-International Debit Card (EMV Chip based)

Repatriation

RBI allows repatriation only for i) current income ii) up to USD one million per financial year (April-March), for any bonafide purpose after payment of applicable taxes.

BOI

Currency

INR

Fund Transfer

Free fund transfer within bank (Self or Third Party) . Free NEFT/RTGS through Net banking

Interest Rate

Rate as advised by Bank from time to time as per stipulated guidelines and will be displayed on the website

Taxation

Interest is taxable under Indian Income Tax Act.

BOI

Who can open?

NRIs (other than a person resident in Bhutan and Nepal) Individuals / entities of Bangladesh or Pakistan Nationality / ownership, and erstwhile Overseas Corporate Bodies require prior approval of RBI

Joint Account Facility:

Account can be held jointly by a NRI (persons of Indian nationality or origin) / with a Resident Indian

Mandate Holder

An Indian resident can be authorized to operate the account and provided with an ATM card for the account

Nomination 

Facility available

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NRO-Savings-Account