drop image drop image drop image drop image
You are here  »  NRI Banking » Deposite Products
NRI Banking

Savings/current account:

  1. Account will be maintained in Indian rupees
  2. Account can be held jointly with Non Residents/Residents close relatives**
  3. Balances held in the account are freely repatriable
  4. Accrued interest income and balances held in the account are exempt from Income tax and Wealth tax respectively
  5. Nomination facility available
  6. Power of Attorney holders cannot open/close the NRE accounts but can undertake normal account operations.
  7. Interest payable on saving accounts presently @ 3.00 % p.a. on daily products
  8. **(as defined in section 6 of the companies Act, 1956)on "Former or Survivor" basis as a Power a Attorney holder in accordance with extant RBI instructions during the life time of the account holder

Term deposits

  • Term Deposit accounts can be funded out of inward remittance from abroad/transfer from existing NRE/FCNR accounts
  • Can be maintained for a period of one year and above for NRE deposits
  • Interest rates, , click here for the same
  • Interest payable with quarterly rests/quarterly compounded as the case may be.
  • Principal alongwith interest is freely repatriable in case of NRE Deposits
    and interest only in case of NRO Deposits
  • Accrued interest income is free from income tax in case of NRE
    Deposits. Whereas in case of NRO Deposits,interest income is subject to
  • No penalty on Premature Withdrawals is levied. The rate of Interest payable is the rate applicable for the period the deposit remained with the Bank as on the start date of the deposit will be made applicable.
  • Term Deposit account opening form, click here

    RESIDENT DEPOSIT ACCOUNTS, for branch locations click here

Safe Banking Tips
Internet Banking Login lock
Rupay Credit Card Login
Online Visa Bill Pay
  rupee PMC BILL PAY
connect us at
©  Punjab & Maharashtra Co-operative Bank Limited.
chic logo