NRO Recurring Deposits

Special Features

• Remittance as monthly instalments over a period of time. Amount remitted plus interest will be paid on Maturity date.
  
  Monthly fixed savings
• Promotes regular savings - meant for fixed income/salaried group
• Fixed monthly installment for period ranging from 12 months to 120 months
• No income tax deduction at source on interest

General Features

• Accounts maintained in Indian Rupees for routing bonafide local remittance like rent.
• Joint accounts are permitted.
• Interest earned in the account is subject to Indian Income Tax.
• Restricted repatriation is  offered.