NRI Accounts & Deposits
NRI Accounts & Deposits
For Non-Resident
Indians who would like to open a savings, current or a term deposit
account for operation in Indian rupees. As the NRE account is exempt
from tax, it is best suited to people who have plans to repatriate their
funds abroad. Recurring and term deposits provide NRIs with the twin benefits of
healthy returns and monthly remittances into a recurring account. You
can choose to remit fixed monthly.
NRE Account
The Non-Residential External (NRE) account is ideal for Non-Resident Indians who would like to open a savings, current or a term deposit account for operation in Indian rupees. As the NRE account is exempt from tax, it is best suited to people who have plans to repatriate their funds abroad.
NRO Account
A non-resident ordinary (NRO) account can be a savings, current, term deposit or a cumulative deposit account. As an NRI, your local income or funds generated in India can be credited to this account, which can be held jointly with resident Indians as well.
NRI Recurring and Term Deposits
Dhanlaxmi Bank's recurring and term deposits provide NRIs with the twin benefits of healthy returns and monthly remittances into a recurring account. You can choose to remit fixed monthly. instalments into a Laxmi Recurring Deposit at various maturity periods.
On maturity, the principal and interest is transferred to a fixed deposit, which earns interest according to rates prevailing at the time of transfer. Interest from the fixed deposit can be paid out monthly at a discounted rate.
Foreign Currency Non-Resident Fixed Deposit
The Foreign Currency Non-Resident (FCNR) deposit account scores over the NRO and NRE accounts since it can be opened in five different currencies. However, these accounts cannot be savings or current accounts, and must be in the form of term deposits. As they enjoy the same tax exemptions as NRE accounts, deposits into FCNR accounts can be fully repatriated to the country of residence.
Accounts for Returning NRIs
As an NRI relocating back to India, Dhanlaxmi Bank offers you structured deposit schemes that help minimise your income tax liabilities and ensure proper allocation of funds, assets and deposits.
You can continue to hold, own, transfer or invest in foreign currency, foreign securities or any immovable property situated outside India, so long as these investments were made while you were located abroad. You can even maintain and operate your foreign currency accounts with banks abroad with Dhanlaxmi Bank's assistance.
NRE Elite
An exclusive savings account for NRI customers with exiting features like free cheque book , NEFT/RTGS transactions, cash withdrawal etc.
NRO Elite
NRO Elite account gives you a hassle free account with features like free cheque book, NEFT/RTGS transactions, cash withdrawal etc.
NRI Dhanam Global Connect
To expand our reach in the NRI segment, we are relaunching our NRI Savings product as “Dhanam Global Connect” with enhanced features. The product aims to attract, acquire, and retain the NRI HNI customers, thereby enhancing our NR portfolio. The features of this product have been designed to outpace our competitors and deliver a best-in-class experience, supported by your superior customer service.
