Learn more about the Non Resident Ordinary Rupee Account from TMB.
Account Highlights
These accounts can be maintained in Savings
Schemes
All the Domestic Term Deposit Schemes are available under this account type.
Download Form
Click Here NRO Account Application Form
Key Features
1. Withdrawals for investments in UTI, Govt. Securities and National Savings Certificates can be freely permitted in to the account.
2. Local disbursements can be freely made.
3. The accounts may be held jointly with residents on ‘former of survivor’ basis.
Overview
Learn more about the Non Resident Ordinary Rupee Account from TMB.
Account Highlights
The existing resident accounts can be converted as NRO account when the status of the account holder changes to Non-Resident.
These accounts can be maintained in Savings / Current or Term Deposit accounts.
The accounts may be held jointly with residents on ‘former of survivor’ basis. NRIs and PIOs may hold an NRO account jointly with other NRIs and PIOs also.
Interest earned are subject to Indian Income Tax.
Legitimate Dues in Rupees of the account holder in India can be freely credited.
Local disbursements can be freely made.
Withdrawals for investments in UTI, Govt. Securities and National Savings Certificates can be freely permitted in to the account.
Nomination facility is available.
This account can be opened before departure from India or while in abroad.
Schemes
All the Domestic Term Deposit Schemes are available under this account type.
