Current / Savings / Term Deposits / Recurring Deposits accounts can be opened under IDBI Bank NRO Account scheme.

IDBI Bank NRO Account

NRIs /PIOs can deposit their legitimate dues in India including current income such as rent, dividend, pension etc., sale proceeds of assets including immovable property acquired out of rupee/foreign currency funds or by way of legacy/inheritance and rupee gift/loan from a resident individual in NRO accounts.

Proceeds of remittance from outside India and foreign currency tendered by the account holder in India can also be deposited in NRO account.

Interest income from a NRO account is liable to tax under the provisions of Income Tax Act in India.

However, reduced tax benefit can be availed under Double Taxation Avoidance Agreement (DTAA).

An NRI/PIO may remit an amount up to USD 1 million per financial year out of the balances held in NRO Account for all bonafide purposes and subject to Reserve Bank of India guidelines in force for remittance of assets by NRI/PIO.

Features

If you are having any Indian income, their NRO Savings account is the right product for you.

Interest is offered at 4% p.a. calculated on daily balance maintained in the account

Joint Account can be opened with NRIs and Resident Indians

Domestic Debit-cum-ATM Card

Internet Banking facility

Mandate facility to enable your family member to operate your account on your behalf.

Non-Resident Ordinary (NRO) Fixed Deposit-

Their NRO Fixed Deposits is an ideal financial tool to earn attractive interest on your investments

Features-

Attractive Interest rates

FD Tenure – 15 days to 10 years

Interest payout at Monthly basis, Quarterly basis or Cumulative interest credit on maturity

No penalty on pre-mature closure

Interest payable on prematurely withdrawn deposits will be the contracted rate or the rate applicable for which the deposit remained with the Bank, whichever is lower

Easy loan against deposits

Automatic renewal of deposit on maturity if instructed accordingly

Non-Resident Ordinary (NRO) Recurring Deposits

NRO RD is an ideal tool to invest a fixed sum every month over a period of time from your NRO account

Features

Attractive Interest rates

RD Tenure – 1 year to 10 years

Installment amount per month – Rs. 100 to Rs. 1 Crore

No penalty on pre-mature closure

Interest payable on prematurely withdrawn deposits will be the contracted rate or the rate applicable for which the deposit remained with the Bank, whichever is lower

Contact-

Registered Office:

IDBI Bank Ltd.
IDBI Tower, WTC Complex,
Cuffe Parade, Colaba, Mumbai 400005.

Customers can contact our 24 X 7 Phone Banking numbers
from any Landline / Mobile number, our Toll free numbers are as follows:
1800-200-1947
1800-22-1070