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1800-103-1222

accounts iconNRI Banking

savings
Equitas Small Finance Bank with 392 plus branches is offering NRI Banking with the Best in Class Interest Rates, Affordable Lockers and Convenient Access to Superlative Technology. We understand that the Home is where your Heart is, where your trust is and where everything is at its Best. So come explore the best of what we have to offer!

NRE Rupee Savings Account

Non Resident External(NRE) Rupee Savings Account is to convert and save overseas earnings in Indian Rupees. The interest earned is not taxable in India and the funds are freely repatriable abroad.

Features and Benefitsfeatures

Earn Superior Tax Exempted Interest Income.
Principal and Interest Freely Repatriable aboard.
Safe Deposit Lockers available in different sizes at our Branches (Subject to availability).
Smart Debit Card option of Visa International Card Variants or Domestic RuPay Platinum Card.
Low Average Monthly Balance requirement of Rs.10,000 for Metro & Urban Branches, Rs.5000/- for Semi Urban Branches and Rs. 2500/- for Rural Branches.
Savings Account Interest Rate w.e.f. 18th October, 2019
Savings Account Interest Rate
Daily Closing Balance Rate Slab
Up to ₹ 1 lakh
4.50%
Above ₹ 1 lakh and up to ₹ 1 cr
6.00%
Above ₹ 1 cr and up to ₹ 5 crs
7.00%
Above ₹ 5 crs and up to ₹ 30 crs
7.25%
Above ₹ 30 crs and up to ₹ 50 crs
7.50%
Above ₹ 50 crs
Contact Branch

Interest Rates calculated on the Daily Closing Balances of the Savings Account.

Interest gets credited on the last day of the Calendar Quarter once every 3 months.

NRE interest income is exempted from Tax under the Indian Income Tax.

Interest rates are subject to change and please refer to the Bank’s Website for the latest rates.

  • NRIs and PIOs (Person of Indian Origin).
  • Seafarers who are Citizens of India/ PIOs employed in shipping companies registered office in abroad.
  • Government of India Employees with Diplomatic Passports working abroad.
  • Students Studying abroad with course of duration of one year and above with valid student visa.
Documentation
NRIs
  • One Recent Colour Passport Size Photo.
  • Copy of Passport Pages showing the details of Name, Date of Birth, Place of Birth, Issue and Expiry Dates, Parents Names, Specimen Signature and Photograph, latest stamping page.
  • Copy of Valid Visa or Work Permit or Residence Permit.
  • Proof of Mailing address whichever is selected in the Application form.
  • All documents attested by yourself(self attestation) and additionally by officials of Equitas Small Finance Bank /Your Banker Abroad/Notary Abroad /Indian Embassy.
  • Initial Payment Cheque more or equal to the Monthly Average Balance of your SB account or the value you want to make a Fixed Deposit.
PIOs
  • One Recent Colour Passport Size Photo
  • Copy of Foreign Passport Pages showing the details of Name, Date of Birth, Place of Birth, Issue and Expiry Dates, Parents Names, Specimen Signature and Photograph.
  • Initial Payment Cheque more or equal to the Monthly Average Balance of your SB account or the value you want to make a Fixed Deposit.
  • If the place of Birth is other than India, please provide one of the following,
    • Copy of Overseas Citizen of India(OCI) Card
    • Copy of Indian Passport held by self/parent/grandparent/great grandparent at any time
    • Copy of Indian Passport or OCI Card of the spouse
  • If the mailing address is different from the country of citizenship, provide a copy of valid visa.
  • All documents attested by yourself(self attestation) and additionally by officials of Equitas Small Finance Bank /Your Banker Abroad/Notary Abroad /Indian Embassy.
Seafarers
  • One Recent Colour Passport Size Photo.
  • Copy of Passport Pages showing the details of Name, Date of Birth, Place of Birth, Issue and Expiry Dates, Parents Names, Specimen Signature and Photograph.
  • Copy of Valid Transit or Work Visa or Copy of Continuous Discharge Summary (CDC) showing latest discharge summary or a declaration of sailing for the first time abroad.
  • Copy of Valid Contract letter showing the Name of the Principal Company and address, Name of the Employee, Flag and Name of the Vessel, Name of the Port, Contract Commencement Date and Tenure and Salary in Foreign Currency.
  • Merchant Navy Declaration in the Attached format
  • Proof of mailing address if different from passport.
  • All the documents has to be self attested as well as attested by Equitas SFB Staff.
Address Proof Required
  • The following documents, where current address is mentioned, can be used as a Proof of Address. This address must necessarily be similar to the mailing address mentioned on the account opening form.

 

Document Considered for Communication Address Proof
Overseas
Indian
Copy of Passport
Y
Y
Copy of Bank statement / passbook duly signed by (no internet downloads, not more than 3 months old) Overseas or India based bank. If mailing address and bank a/c statement provided is of a Bank based in India, the statement should be of a NRI a/c or NR status should be certified by the bank on the statement. (Original Bank Statement required in case of Self-attestation) (The bank statement should be for a month or more and should not be more than 3 months old)
Y
NA
Copy of Driving License(except driving license issued by the Govt of Maharashtra)
Y
Y
Employer’s Certificate indicating the address (Authorized Signatory, specifying the purpose of letter issuance as Account Opening on Company’s Letter Head) (Accepted only from certain countries).
Y
NA
Copy of Credit card statement (not more than 3 months old) (Original in case of Self-attestation)
Y
NA
Copy of Company ID card indicating the address
Y
NA
Cert. from Indian Diplomatic mission stating the contact address
Y
NA
Copy of Govt. ID card (SSN / Green Card / PIO card / OCI card)
Y
NA
Copy of appointment letter indicating the address (on letterhead OR stamp)
Y
NA
Copy of Utility bill (electricity/ piped gas/ Landline telephone / water / Mobile / Broadband /– not more than 3 months old) (Original in case of Self attestation)
Y
NA
Copy of letter from University stating the address(for on-campus lodging)
Y
NA
Copy of CDC issued by Govt. of India
NA
NA
Copy of Foreign Government card
Y
NA
Copy of Permanent Singapore card** / Malaysian card
Y
NA
Copy of Operator License (USA)
Y
NA
Copy of Voter’s Identity (Election) Card
NA
Y
Copy of Tenancy Contact Registration Certificate issued by regulated body (UAE)
Y
NA
Copy of Wealth / Income Order (Not More than 6 months old)
Y
NA
In the case of GCC (Gulf Cooperation Council) countries (If customer is providing any one of the documents mentioned in Point A below as address proof for overseas communication address then it is mandatory to also obtain the address proof of India.
The local resident card mentioning the name of the sponsor (firm/company) can be used as overseas address proof; or The geography specific resident card mentioning the unique reference number can also be considered as the overseas address proof.
Y
NA

features Charges

AMB
Rs. 10,000/- In Metro, Urban branches
Rs. 5,000/- in Semi-urban branches
Rs. 2,500/- in Rural branches
Minumum Fixed Deposit by the Customer in Lieu of AMB Requirement
Rs. 50000/-
Cheque book (PAP cheque book of 25 leafs)
1 cheque book free per Half year
Charges beyond free limits
Rs. 2 per leaf
Local Cheque clearing
Free
Outstation cheque collection charges at bank location
Upto Rs. 5000 charge of Rs. 25, Above 5000 and upto and including Rs. 10,000 charge of Rs. 50/-, Above Rs. 10,000 ad upto including Rs. 100000 charge of Rs. 100/-, Above Rs. 100000 charge of Rs. 150/-
Outstation cheque collection charges at non-bank location
Upto Rs. 5000 charge of Rs. 25, Above 5000 and upto and including Rs. 10,000 charge of Rs. 50/-, Above Rs. 10,000 ad upto including Rs. 100000 charge of Rs. 100/-, Above Rs. 100000 charge of Rs. 150/-
RTGS Inward
Free
NEFT Inward
Free
IMPS Inward
Free
Foreign Inward Remittance
Free
Demand Draft and Payorder at branch locations
Free upto 3 DD's per month
Charges beyond free limits
Rs. 50 per DD plus Rs. 2 per thousand above Rs. 10,000/-
Demand Draft at non-branch locations
Rs.100 per DD
PAP Cheque payment
Free
RTGS & NEFT Online
Free
RTGS and NEFT outward at branch (free online)
NEFT : Upto Rs. 10000/- Rs. 2.5, From Rs. 10001 to Rs. 100000 : Rs. 5, From Rs. 100000 to Rs. 200000 : Rs. 15, Above Rs. 200000 : Rs. 25. RTGS: From Rs. 200000 to Rs. 500000 : Rs. 25, Greater than Rs. 500000: Rs. 50.
IMPS outward (per day limit of Rs.2,00, 000/-)
Upto Rs.50,000/- charges of Rs.5/- per transaction, Rs.50,001 to Rs.2,00,000/- charges of Rs.15/- per transaction.
Card Transaction Slip Retrieval charges (for incorrect claims)
Rs. 250/- per slip
Stop payment single cheque (free online)
Rs. 100 per cheque
Stop payment series (free online)
Rs 150 for a series of 25 cheques
Outward cheque return charges for financial reasons
Rs 50 per cheque
Inward cheque return charges for financial reasons
Rs. 350 per cheque for up to 2 cheques, Rs. 500 per cheque for 3-5 cheques, Rs.750 per cheque 6th cheque onwards
Inward/Outward cheque return charges for technical reasons
NIL
Outward Return Cheques(Deposited in Equitas for collection)
Rs. 50/- For Financial Reasons
Inward Retrun Cheques(Recieved for Payment from Equitas)
Rs. 250/- For Financial Reasons
Technical Reasons
No Charge
Outward cheque return charges for financial reasons
Rs. 50/- per cheque
Outward cheque return charges for technical reasons
NIL
Inward cheque return charges for financial reasons
Upto 2 cheques Rs. 350/- per cheque, 3-5 cheques Rs. 500, 6th cheque onwards Rs. 750 per cheque
Inward cheque return charges for technical reasons
NIL
Cash Deposit limit at home location (including ATM and Branch)
Free up to Rs.1,00,000 per month
Charges beyond free limits
Rs.3/1000
Cash Deposit limit at Non-Home location (including ATM and Branch)
Free up to Rs.1,00,000 per month
Charges beyond free limits
Rs.3/1000
Cash Withdrawal at home location
Free
Debit Card Cash Withdrawal txns at metro locations (other Bank ATMs)
Free 36 Times a Financial Year
Debit Card Cash Withdrawal txns at non-metro location (other Bank ATMs)
Free 36 Times a Financial Year
Charges beyond free limits of ATM withdrawals
Rs.20 per txn
Cash withdrawal outside India (for international cards only)
Rs. 110/- per transaction
Balance Inquiry Outside India (for international cards only)
Rs. 25/- per transaction
NRE Debit Cards
Visa International Classic – Free
Visa International Platinum – Rs. 500
Visa International Signature – Rs. 999
NRO Debit Cards
NRO RuPay Domestic Classic – Free
NRP RuPay Domestic Platinum – Rs. 550
Debit Card Reordering Charges
Rs. 350
Stop payment single cheque
Rs. 100/- per chequue
Stop payment of Cheque Series
Rs. 150/- for a series of 25 cheques
Standing instructions set up/Amendment (Free for RD/ SIP/ Bill Payment)
Rs.25 per instance
Standing Instructions failure (return)
Rs.150 per return
ECS / NACH return due to financial reasons
Rs.200 per return
SMS Alerts
Free
Balance Certificate at Branch (online free)
Rs.250 per instance
Previous year balance and interest statement (free online)
1 free per annum, Rs.300 per statement thereafter
Passbook issuance
Free
Duplicate Passbook issuance
Rs.50
Signature verification certificate / Photo attestation / Address confirmation
Rs.50 per instance
Duplicate TDS certificate
Rs.100
Duplicate account statement print (free online or on email)
Rs.50
DD / PO revalidation / cancellation
Rs.100
Account closure charges if closed on customer request before 6 months of account opening date and after 15 days of account opening.
Rs.500
Account inactive charges
NIL
Photo Attestation
Rs. 50/- per instance
Address Confimation
Rs. 50/- per instance
Accounts closed after 14 Days and before 6 months of opening
Rs. 500/-
Cheque pickup (on call)
Rs.50 per instance
Cash pickup on call (charges per instance)
Up to Rs.200000
Rs.150
Rs.200000 to Rs.500000
Rs.300
Rs.500000 to Rs.1000000
Rs.500
Rs.1000000 to Rs.2000000
Rs.800
Rs.2000000 above
Contact branch
Senior citizens above the age of 70 years/Physically challenged OR infirm customers can contact branch/contact centre for doorstep banking services.
Aggregation of all the customer induced transaction including:
Cash / Cheque / RTGS / NEFT / IMPS / DSB / DD (Excluding Online and ATM Txn)
8 transactions free per month
Charges beyond free limits
Rs.15 per transaction over and above the individual transaction limit charges
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