Savings Accounts

NRI Savings Accounts

Introducing Ujjivan SFB’s NRI Savings Accounts – the perfect solution for managing your finances from overseas. Designed exclusively for NRIs, our NRI accounts offer attractive interest rates, seamless fund transfers, free remittance facilities, and more.

    • Earn interest up to 7.50%
    • No minimum Monthly Average Balance criteria
    • Remittance at competitive exchange rates
    • Repatriation of funds as per FEMA guidelines
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    • Tax-free earnings
    • Funds are fully repatriable
    • Earn interest up to 7.50%
    • No minimum Monthly Average Balance criteria
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    • Free Issuance of Demand Drafts
    • Unlimited ATM Transactions across any bank ATMs
    • Free NEFT, RTGS , IMPS & UPI transactions across all channels
    • Free Issuance of Cheque Book
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FAQs

1. What are the types of NRI Savings Accounts?

Ujjivan SFB offers two types of NRI Savings Accounts – NRE (Non-Resident External) Savings Account and NRO (Non-Resident Ordinary) Savings Account.

2. What is the difference between NRE Savings Account and NRO Savings Account?

NRE Savings Account allows NRIs park their foreign income in India and earn interest on it. The interest earned is exempt from tax. The funds are fully repatriable, meaning you can transfer these funds to your country of residence.

NRO Savings Account are specifically meant for managing income earned in India while you continue to stay overseas. The income can be in any form – rents, dividends, etc. The funds in NRO accounts may not be fully repatriable. Also, the interest earned is taxable as per income tax laws in India.

3. What are the advantages of Ujjivan SFB NRI Savings Accounts?

Some of the benefits are:

  • Attractive interest rates
  • No minimum balance requirement
  • Easy fund transfer
  • Manage account seamlessly via Internet Banking a

4. Who is eligible for NRI Savings Accounts?

Any Non-resident Indian (NRI) with valid address proof is eligible for NRI Savings Account.

5. Are there any other added benefits of Ujjivan SFB’s NRI Savings Accounts?

You get to enjoy free remittance facilities via NEFT and RTGS, secure inward and outward remittance facility in foreign currency, and more with our NRI accounts.