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NRI Products offered by Vijaya Bank

To provide seamless banking experience to NRIs, Vijaya Bank has entered into correspondent banking relationship with more than 300 major international banks across the world.

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NRI Products offered by Vijaya Bank

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  1. NRI Products offered by Vijaya Bank

  2. NRI Products To provide seamless banking experience to NRIs, Vijaya Bank has entered into correspondent banking relationship with more than 300 major international banks across the world. NRI Products offered by Vijaya Bank’s : NRE Accounts NRO Accounts FCNR(B) Accounts Resident Foreign Currency Deposit Account (RFC) Remittances Facilities

  3. NRE Accounts Eligibility: Persons who are of Indian origin/nationality residing outside India; Non-Resident Indians Period: NRE accounts can be held either as operative accounts or as term deposits, ranging from 1 year time period up to 10 years. Currency: These accounts can be maintained in Indian rupees and the amount along with the interest is fully repatriable. Withdrawals: For local payments, funds can be withdrawn freely. For local disbursement, funds can be withdrawn freely from savings & current account. Funds can be remitted either in foreign currency or foreign currencies which are convertible to Indian rupees including the interest earned. Tax Benefits: Interest earned from NRE account is exempted from income tax when the account is in individual’s name. Gifts made from NRE account are free from Gift Tax. Balance in NRE account is free from Wealth Tax.

  4. NRO Accounts Eligibility: A person/entity residing outside India can open an NRO account (for the purpose of putting through bonafide transactions denominated in Rupees). Term: Minimum of 15 days to maximum of 10 years. Renewal of Term Deposit: This account can be renewed on maturity for extended periods. Repatriability: Current income earned, such as salary, pensions in India of the account holder, net applicable taxes etc., are eligible for repatriation. Tax Liability: Interest earned from NRO account is subjected to Income Tax and is deducted at the source.

  5. FCNR(B) Accounts Eligibility: Persons who are of Indian origin/nationality residing outside India; Non-Resident Indians. Term: Minimum of 1 year to maximum of 5 years only. Currency: FCNR(B) accounts accept these currencies - Pound Sterling, US Dollar and Euro. Repatriability: Interest earned and the principle amount is repatriable freely. Tax Benefits: Interest earned from FCNR(B) accounts is free from Income Tax.

  6. Resident Foreign Currency Deposit Account (RFC) To keep Foreign Currency assets, a NRI can open, hold & maintain Resident Foreign Currency (RFC) account upon his return to India. RFC account can be maintained in the form of Current or Savings or Term Deposit in case of individual account holder and in all other cases, it has to be maintained in the form of current/term deposit account. Term: Minimum of 1 year to maximum of 3 years with applicable simple interest.

  7. Remittances Facilities Vijaya Bank has joined hands with Remit2India for helping NRIs to send money back to India. Advantages/Benefits: Trusted brands - Vijaya Bank & The Times Group. Multiple ways to receive money based on the beneficiaries convenience. Round the clock customer support by TimesofMoney Ltd. Attractive exchange rates. Flexibility - send money from anywhere, anytime. Real-time tracking of transaction at TimesofMoney Website. Peace of mind - safe, speedy, inexpensive and hassle free transactions. Money can be sent online from 23 countries.

  8. VIJAYA BANK • Vijaya Bank is a PAN India Institution, serving diverse sectors of the society. • The Bank offers a bouquet of innovative and attractive products and services to its customers. It has also incorporated a host of latest Digital Banking products, to provide the best services to its customers. Digital Banking services are: • VPAYQWIK • Mobile Banking • Net Banking • Vijaya UPI • Twitter bankingand many more… For details, visit: https://www.vijayabank.com

  9. THANK-YOU

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