When customer is interested in Repatriation and also wants to avail tax benefits NRE accounts are suitable as the amounts in the account are tax free.
Current, Savings, Recurring and Term Deposits.
NRIs can NRE/FCNR (B) account along with their close relatives on “Former or Survivor” basis
i.e. During the life time of the NRI the resident can not operate the account.
The definition of close relative is as defined in Section 6 of the company’s Act 1956. However, the resident close relative shall be eligible to operate the account as a power of Attorney holder in accordance with extant instructions during the life time of the NRI/PIO account holder.
Mandate or Power of Attorney holder can be appointed. Power of Attorney holders powers are restricted to Local payments or eligible investments or remittance to the account holder himself.
4.00 % p.a. w.e.f., 03.05.2011.
Term Deposits: For the Latest interest rates click here
Remittances from abroad/Transfer from other NRE/FCNR a/cs, Interest and Proceeds of Investments made from NRE account or other NRE accounts which are of repatriable nature.
Local Disbursments, Remittances outside India, and payment for Eligible Investments, and also any other transaction if permitted by RBI
Allowed. Nominee can be Resident or Non-resident/PIO
Repatriable. Inclusive of interest earned can be repatriated outside India without reference to Reserve Bank of India. The depositor has to bear Exchange Risk.
News & Events
AS PER RBI MANDATE DEBIT CARDS ISSUED AFTER 30-11-13 ARE VALID FOR DOMESTIC TRANSACTIONS ONLY. FOR INTERNATIONAL USAGE,PLEASE APPLY FOR CHIP DEBIT CARD AT YOUR BASE BRANCH WITH REQUIRED LIMITS.
You can now donate to Shri Saibaba Sansthan Trust, Shirdi through IMPS-Mobile Banking.
Presentation to Analysts
Our Total Income
during 12M of FY’12-13 increased to Rs. 13,957 Crore,
recording a growth of 14.4%.
Form 15G/15H has to be submitted afresh at the beginning of each financial year to avail exemption/concession in TDS. Quoting of PAN is mandatory for availing such exemptions/concessions.
All our Banks’ cheques are “payable at par henceforth. We request all our customers to surrender their old cheque books at their account branch and obtain CTS 2010 Standard Cheque books immediately.
We request all our customers who have issued postdated cheques for repayment of loan installments for loans availed by them to replace the old PDCs with new CTS 2010 Standard cheques.
Online Grievance Redressal System with Tracking
Online Applications for MSME and Retail Loans
Online Donations to charitable institutions through net banking
Online resetting of Internet Banking Login Password
Interbank transfer of Funds through Mobile Banking using IFSC code
Housing loans - festive offer: 100% waiver of processing charges and assured speedy processing, sanction within 5 working days.
As per RBI mandate, cash retraction facility is discontinued from our ATMs. Do not forget to collect cash before leaving ATM room.
Any customer could walk in to deposit money in any branch of the bank if the account is in any other branch of the bank to which he wants to deposit the money and there will be no charges on this for any amount
Fictitious Offers of Cheap funds from abroad - Awareness Campaign - List of Nodal Agency (Cyber Crime Cell / Economic Offence Wing)
Complain to Local Police/Cyber Crime Authorities against Fictitious Offers of Money from Abroad
PPF and SCSS schemes
Do Not fall Prey to Fictitious Offers of Funds Transfer