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August 4th, 2016, 06:19 PM
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Join Date: Mar 2012
Union Bank of India How to Open NRI Account

Hello.. What is the process to open Non Resident Indian (NRI) Current Account at Union Bank of India (UBI)?

As you want I am here giving you information about the process to open Non Resident Indian (NRI) Current Account at Union Bank of India (UBI).

NRI Current Account Opening :

Eligibility:
NRIs / PIOs :
(Other than person resident in Nepal and Bhutan) (such individuals from Bangladesh and Pakistan require prior approval of RBI)

Process to open NRI current account :
Check eligibility criteria .

Take Application form to open account.

Fill the form completely .

Attach required documents .

Submit the form with required documents .

After verification of form account will open .

Submit the amount required as minimum account balance .

Minimum Balance
Average quarterly balance in SB A/c
Rs.5000/- (for metro & urban)

Rate of Interest :
No Interest Paid

Nomination:
Permitted

Joint Account with:
One or more NRIs / PIOs

Tax on Interest Income:
No Income Tax

Repatriation:
Principal & Interest amount are fully repatriable

Last edited by Neelurk; May 8th, 2020 at 03:53 PM.
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