All Non-Resident Indians (NRIs) and Persons of Indian Origin (PIOs) are eligible for this NRO savings account offered by HDFC Bank. Photocopy of passport containing the essential KYC details of the applicant. The key features of the account include: 20 cheque leaves are available free of cost each financial year. Open an NRI Account online today. hassle-free banking from any corner of the world. * TDS, when due and applicable will be deducted in accordance with to know more about Payment Services. Enter your number below. HDFC Bank offers the best possible interest rates on deposits for this NRE savings account. Above Rs.10,000 and below Rs.1 lakh - Rs.3 will be charged per Rs.1,000 Above Rs.1,000 and below Rs.5,000 - Rs.25 10,000 as a minimum balance. 01.04.2010, every person who receives income on which TDS is deductible operating the account through the various direct banking channels, experience They can also transfer funds from their NRE (Non-Resident External) account or FCNR (Foreign Currency Non-Repatriable) account. or of Indian origin. Customers can keep track of the status of their funds in the NRO savings account with the help of the free email bank statement facility. application form. 1. to Tax deduction at source*.W.e.f Aug 09, applicable TDS rates are: As per section 206AA introduced by Finance (No. You would be required to maintain an Average Monthly Balance of INR 10,000/- only. Above Rs.5,000 and below Rs.10,000 - Rs.30 here to Know More about Fees & Charges. The account accepts foreign currency as well as Indian rupees to open an account, with the balance being held in Indian rupees. You would be required to maintain an Average Monthly Balance of INR 10,000/- only. Learn more about Open HDFC Savings Account, HDFC Zero Balance Account, HDFC Netbanking. Can I use foreign currency or travellers cheques to open this account? Copy of PAN (Permanent Account Number) card. 4. Request received - loud & clear!Returning you to where you were... (You can save searches, track your apps & save plenty of time!). There are no minimum balance requirements. NRO Savings accounts can also be maintained with the Post Offices in India. To transfer money to your NRO account, you can: Click NRE / NRO PIS Bank Account; PIS Permission through HDFC Bank Ltd. 3. The (In case of Draft, DD slip is mandatory). The minimum amount required to open an NRO Savings Account is INR For Metro/Urban branches it's 10,000 Indian rupees and for Semi-urban and rural branches its 5,000 rupees. Foreign Currency Correspondent Bank & A/C SWIFT Code; USD: Bank of Baroda, New York ABA Routing no. In addition, customers need to maintain a minimum average monthly balance of Rs.10,000 to avoid a penalty for non-maintenance. for Mandate Holder, Use a Product Finder to choose an account, Compare between Depending on your existing relationship with HDFC Bank, You will would need to open the balance accounts mentioned below. Such TDS shall be recovered from saving/current/demand Display of such IP along with the related product information does not imply BankBazaar's partnership with the owner of the Intellectual Property or issuer/manufacturer of such products. With HDFC Bank's Payment Services, you can bid goodbye to queues Basic Savings Bank Deposit Account (BSBDA): This offering from Federal Bank is designed for those who wish to maintain a zero balance account and avail of basic banking services. Display of any trademarks, tradenames, logos and other subject matters of intellectual property belong to their respective intellectual property owners. shall furnish his PAN Number to the deductor, failing which TDS shall reside in a non FATF 5000 (Semi-Urban) Charges on non maintenance thereof : Rs. The amount differs for urban and metro banks and rural and semi-rural banks. Effective 1st April 2016, as per RBI mandate, Savings Bank interest will be paid at quarterly intervals on 31st March, 30th June, 30th September & 31st December each year. For additional chequebook of 25 leaves, Rs.75 will be charged per cheque book. The interest earned over the HDFC Bank Non-Resident Ordinary (NRO) Savings Account deposits are subject to TDS (Tax deducted from source). the provisions of the Income Tax Act, 1961 and the Rules thereunder Customers can also use HDFC Bank’s phone banking facility to manage their accounts. You would be required NRE Account – Interest accumulated on the balance is tax free – Average Monthly balance of Rs.10,000 – Both Principal and Interest are fully repatriable (tax free) – Interest rate is 4% per annum and is calculated on a daily basis. You would be required to maintain an Average Monthly Balance of INR 10,000/- only. Incase, you cannot come to our branch for account opening and you This NRO savings account offered by HDFC Bank is maintained in Indian rupees. Credit of funds representing legitimate dues of the account holder from local sources for e.g. The same can be submitted at the time of account opening itself or later. 93010200000070 (for NRE SB account) or A/c No. Yes, you can use foreign currencies or travellers cheque to make the initial deposit to open the HDFC Bank Non-Resident Ordinary (NRO) Savings Account. Free for the first year. Minimum balance of Rs. Interest earned on the NRO account is liable to 30% tax, which is deducted at source: Minimum Balance (Average Quarterly Balance) Rs. Free 25 cheque leaves per half year. Please click here ... Utilise account balance for repatriable investments as well as local payments in India; to an account. Welcome! convertible foreign currency, Download Mandate When opening this NRO savings account, is it possible for me to transfer money from my NRE account to make the initial deposit? Unlike the NRO savings account, NRIs do not have to pay tax on the deposits in this account or on the interest earned over the deposits. So client has to check with the Tax Department or Finance Ministry in his country or with his Chartered Accountant abroad as to procedure to obtain TRC. to maintain an Average Monthly Balance of INR 10,000/- only. Interest earned on NON-Withdrawable NRO Fixed Deposit is subject to Tax deduction at source Open the deposit jointly with a Resident Individual on Former or Survivor basis Avail of the nomination facility HDFC Bank offers the following types of NRI accounts. Repatriation of funds from NRE account: Note: Minimum amount for on-line repatriation is INR 5000/- and the request will be rejected if the amount of repatriation is below 5000/- INR. Please click 2) Act, 2009 w.e.f With HDFC Bank NRO Current Account, park your Indian earnings or remit funds through various channels in INR or foreign currencies. Also Read – 5 Best Kids Saving Account. If the 1 lakh - Rs.6 per Rs.1,000 (subject to a minimum of Rs.300 and a maximum of Rs.10,000), Cheque/demand drafts cancellation/revalidation, Local cheque deposited for outstation accounts, ATM card transaction charge at non-HDFC Bank domestic ATMs. You are eligible if you are a Non-Resident individual of Indian nationality To park their savings that they have earned abroad, Non-Resident Indians (NRIs) can open the HDFC Bank Non-Resident Ordinary (NRO) Savings Account either online or at any branch of the bank across the country. foreign currency notes brought by you exceed USD 5,000/- or the When you attain non-resident status, you must re-designate your resident account to an NRO (Non-Resident Ordinary) account. With this debit card, NRIs can make withdrawals at ATMs and transaction at either retail or online merchant establishments across the country. Applicable are 3.5 % and 4 % for balances less than Rs 50 and. 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