Legitimate dues in rupees, of the
account holder can be deposited in the
Tax is deducted at source on the
interest earned at a flat rate of 30%.
Nomination facilities are available
for these accounts.
These accounts can be held as joint
accounts with other NRIs or other
For NRO fixed deposits, the interest
rate is the same as that for domestic
Undertaking to be given while opening
NRO. All stating therein that foreign
currency against reimbursement will
not be parted to any person residing
All local payment e.g. elect e.g.
electricity charges, Municipal taxes
etc., can be made from this account
The balances in the a/c cannot be
converted into foreign currency.
You can also open the account while on
person visit to India by simply
surrendering foreign exchange in the
form of traveler's cheque/currency
notes and on producing your passport.
Copy of Passport*
Copy of Visa*
Power of Attorney
existing NRE Account
Currency notes/ coins
in Indian Rupees
of Passport and Visa must be
attested by the Branch Manager
(overseas)/Notary Public or an
official of the Indian Embassy in
the country of residence or
Employer. In case of attestation by
employer, latest overseas bank
statement in original
to send intimation about returning
to India from permanent residence
immediately on arrival.
of ordinary Non-Resident Account in
any form by the nationalities of
Bangladesh, Pakistan or South Africa
requires approval from the RBI.