NRE CURRENT ACCOUNT

Why choose this product:

• Ideal for foreign nationals who have ESOPs issued by Indian companies
• Repatriate principal and interest amount fully
• Freely transfer funds
  from this account to anywhere abroad

• Ideal for foreign nationals who have ESOPs Employee Stock Option Plan (ESOP) are the shares offered to the employees of a company, wherein promoters decide to dilute their stake. Employees are often given a share of the business after a certain length of employment or they can buy shares at any time.  issued by Indian companies
• Repatriate your principal and interest amount fully
• Remit funds easily through Quickremit, IndiaLink, Cheque LockBox, Telegraphic Transfers and Cheque / Draft for free
• Utilise account balance for repatriable investments as well as local payments in India
• Deposit your overseas earnings in the non-interest bearing Rupee account
• Avail of free ATM Card for the mandate holder in India
• Get an International Debit Card
• Get a personalised cheque book
• Operate your account, anywhere, anytime with convenient banking channels like NetBanking

To deposit money in your NRE Current Account, you can:

• Transfer funds from abroad in a freely convertible foreign currency These are foreign currencies that can be exchanged easily with other currencies and are recognised by the international market.
• Present foreign currency notes/travellers cheques brought in by you or another NRI during a visit to India
• Directly remit the amount to us
• Transfer funds from an existing NRE/FCNR Account held in other Banks

You need to maintain an Average Quarterly Balance (AQB) is the average balance you need to maintain in your account (s) over a period of 3 months.  of Rs. 25,000/-. In case your Average Quarterly Balance (AQB) is the average balance you need to maintain in your account (s) over a period of 3 months.   dips below the required amount, a fee of Rs 750 per quarter will be charged.

• Photocopy of the pages of the passport containing passport details and personal details of all applicants
• Copy of valid visa / work permit
• One passport photograph of each applicant
• One document confirming either the overseas or Indian address. The address on the document has to match the address mentioned in the application form.

Incase, you cannot come to our branch for account opening and you reside in a non FATF country, all photocopies of the above documents to be attested by Indian Embassy or by a Notary.

Incase,you cannot come to our branch for account opening and you reside in a FATF country, then either all photocopies of the above documents to be attested by an Indian Embassy or Notary or by a Banker overseas If the documents are not certified then all documents need to be self signed and submitted along with one additional document.

You are eligible if you are a non-resident individual of Indian nationality or of Indian origin.