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NRI BANKING

Equitas Small Finance Bank with 392 Branches and growing 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!

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NRO Rupee Savings Account

Non Resident Ordinary(NRO) Rupee Savings Account is to deposit Rupee Cash and manage Indian income like Rent, Dividends, etc. Transfer up to 1 Million USD equivalent of NRO funds in a Financial Year to NRE Savings Account or Repatriate abroad after payment of applicable taxes and documentation.

To know more - Give a missed call on +91 93840 05822

Features And Benefitsvalue-feature-icon

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    Earn Superior Interest Income on NRO Savings Account.

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    Deposit surplus Rupee Cash and Rupee earnings.

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    Domestic RuPay Platinum Debit Card with Host of Benefits and Offers

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    Manage your account with an Indian resident relative as Mandate Holder

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    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.
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    Nomination facility available

Savings Account Interest Rate w.e.f. 10th June, 2020

Savings Account Interest Rate

Daily Closing Balance Rate Slab
Up to ₹ 1 lakh 3.50%
Above ₹ 1 lakh 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.

NRO Rupee Savings Account Interest gets credited post deduction of Tax Deducted at Source (TDS). The TDS Rate of 31.20% (30% TDS + 4% Surcharge on TDS) is deducted from the NRO interest on accrual.

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

Eligibility
  • 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 courses 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
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
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Charges

NRE and NRO Rupee Savings Account SOC Effective from 1st July 2020

AMB
Average Monthly Balance (AMB)  Rs. 10,000/- In Metro, Urban branches
Rs. 5,000/- in Semi-urban branches
Rs. 2,500/- in Rural branches
AMB Non- Maintenance Charges No Charges Applicable
NRO Account as Additional  Add on Account without Separate AMB Requirement
AMB Non-maintenance charges in case of the customer having NRE and NRO accounts with the same "Mode of Operation" No AMB Charges Applicable          
Grouping with Family Accounts or Business
Savings Account Grouping  Can be grouped to NR Savings Account of higher value
Cheque book (PAP cheque book of 25 leafs) limit 1 cheque book free per quarter
Charges beyond free limits Rs. 2 per leaf
Collections
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/-
Payments
Demand Draft and Payorder at branch locations Free upto 3 DD's per month
Charges beyond free limits Rs. 50 per DD
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. 10,000/- Rs. 2.25, From Rs. 10,001/- to Rs. 1,00,000/- : Rs. 4.5/-, From Rs. 1,00,000/- to Rs. 2,00,000/- : Rs. 14.5/-, Above Rs. 2,00,000 : Rs. 24.5/-. RTGS: From Rs. 2,00,000/- to Rs. 5,00,000/- : Rs. 20/-, Greater than Rs. 5,00,000/-: Rs. 40/-.
IMPS outward (per day limit of Rs.2,00, 000/-) Free
Cash Charges
Cash Deposit limit at home location (Branch) Free up to Rs.1,00,000 per month
Charges beyond free limits Rs.3/1000
Cash Deposit limit at Non-Home location (Branch) NIL
Charges beyond free limits Rs.4/1000
Cash Withdrawal at home location Free
Cash Withdrawal at non-home location Rs.4/1000
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 txn
Balance Inquiry Outside India (for international cards only) Rs. 25/- per txn
Other Charges
NRE VISA International Classic Debit Card (Charges for Issuance, annual fees, re-issuance) Free
NRO Rupay Domestic Classic Debit Card (Charges for Issuance, annual fees, re-issuance) Free
Rupay NRO/NRE Domestic Platinum Debit Card with chip (Charges for issuance, annual fees, re-issuance) Free
NRE VISA International Platinum Debit Card (Charges for Issuance, annual fees, re-issuance) Free
NRE VISA International Signature Debit Card (Charges for Issuance, annual fees, re-issuance) Rs. 400
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
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
Certificate and Report issuance
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
Doorstep Banking
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
No of Transactions

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