How to convert resident account to NRO account

 When an Indian citizen attains Non-Resident Indian or NRI status, he/she can’t hold the resident bank account for a long duration. It is mandatory by law to convert a resident account into an NRI bank account. If you continue to operate a resident account for a long time after a change in your resident status, you will be liable to pay a penalty for not converting to NRO account. You will need to complete some formalities and submit documents for converting a resident account into an NRI account. Here we will discuss, how to convert a resident account to NRO accounts.

Manoj Negi

· 135,953 views

HDFC Bank FCNR Fixed Deposit Rates 2023

 Recently top Indian banks, including HDFC Bank, have increased FCNR rates after the Reserve Bank of India eliminated the ceiling on interest rates on incremental FCNR (B) and NRE deposits. NRIs can hold fixed deposits in any of the 6 foreign currencies - US Dollars, Euro, Pounds Sterling, Japanese Yen, Australian Dollars, and Canadian Dollars. For deposits made in USD, HDFC Bank FCNR fixed deposit rates range from 2.00% to 3.35% p.a.

Manoj Negi

· 10,991 views

SBI FCNR Rates 2024: SBI NRI Fixed Deposits

 State Bank of India is the largest public sector bank in India. The bank offers a wide range of financial products and services to residents as well as NRI customers. Non-Resident Indians can open an FCNR account with the SBI to manage their foreign earnings in India. SBI Foreign Currency Non-Resident Bank (FCNR(B)) account can be maintained in any of 6 acceptable foreign currencies - USD, GBP, EURO, CAD, AUD, and JPY. Latest SBI FCNR rates for deposits made in US dollar range 3.00 to 3.50% p.a.

Manoj Negi

· 22,564 views

SBI Bahrain Branches: NRI Banking Services

 Established in January 1977 as an Offshore Banking Unit, SBI Bahrain branch is now known as the Wholesale Banking Branch (WBB). The retail operations of State Bank of India Bahrain started on January 2, 2007. SBI Bahrain has a total customer base of over 20,000. The bank caters to the banking needs of individual as well as corporate customers through respective banking divisions. The NRI community can also visit SBI Bahrain branches for their banking needs.

Manoj Negi

· 10,433 views

ICICI Bank NRI Customer Care Services

 ICICI Bank has a strong presence in India and continues to expand its footprints in international markets to cater to its Indian as well as non-resident customers. The Bank offers an array of products and services to non-resident customers such as NRI bank accounts, fixed deposits, and mutual funds, loans and insurance. NRI customers can contact ICICI Bank NRI customer care team to get information related to various products and get their queries resolved.

Manoj Negi

· 113,491 views

Want to read more?

Get ready to be enlightened!

    Copy link
    CopyCopied
    Powered by Social Snap