FD Rates Savings

8.3% * p.a

0.60% Extra For Senior Citizens Know More
Upto

7.5% * p.a

Know More
8880036666

accounts iconNRI Banking

savings
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!

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.

Features and Benefits features

Earn Superior Interest Income on NRO Savings Account.
Deposit surplus Rupee Cash and Rupee earnings.
Domestic RuPay Platinum Debit Card with Host of Benefits and Offers
Joint Holding with Indian Residents or Non Residents.
Low Average Quarterly Balance requirement of Rs.10,000 for Metro & Urban Branches and Rs.5000/- for Semi Urban & Rural Branches.
Savings Account Interest Rate w.e.f. 8th July, 2019
Savings Account Interest Rate
Daily Closing Balance Rate Slab
Up to ₹ 1 lakh
5.00%
Above ₹ 1 lakh and up to ₹ 10 lakh
6.00%
Above ₹ 10 lakhs and up to ₹ 1 crs
6.50%
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.

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.

  • 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

Schedule of Charges for Savings Accounts w.e.f 1st November 2018
AQB (50% in Semi-urban and Rural Branches)
Rs. 10000
Minumum Fixed Deposit by the Customer in Lieu of AQB 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. 250 per DD Plus Rs. 3 per thousand above Rs. 10,000/-
PAP Cheque payment
Free
RTGS Outward
From Rs. 200000 to Rs. 500000: Rs. 25, Greater than Rs. 500000: Rs. 50.
NEFT Outward
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.
IMPS Outward
Part of aggregated transactions per month as mentioned below
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 at Home location NRO only
NIL upto Rs. 2,00,000/- per month and beyond free limits Rs. 2/1000
Cash Deposit at Non-Home location NRO only
Free Upto Rs. 1,00,000 per month beyond free limits Rs. 2/1000
Cash Withdrawal at home location
Free upto Rs. 5,00,000/- per month and beyond Rs. 2/1000
Cash Withdrawal at Non-Home location
Free Upto Rs. 50,000/- Free Higher limit upto Rs. 5,00,000/- subject to Self Withdrawel
Cash Withdrawal using Debit Card beyond free transactions
Rs. 20 per transaction
International ATM Usage
Rs. 125/- Per Transaction for Financial Transactions and Rs. 25 for all other transactions like PIN Change, Mini Statement, Balance Enquiry
ATM and POS Purchase Transactions Outside India on Visa Network
Conversion Charge of 3.5%
International Visa Card for NRE Accounts (Charges for Issuance and Annual Fees)
Visa Classic :- Rs. 150/-, Visa Platinum Rs. 500/- and Visa Signature Rs. 999/-
Domestically valid Rupay Cards for NRO Accounts (Charges for Issuance and Annual Fees)
RuPay Platinum :- Rs. 550/- Rupay Classic:- 150/-
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
Rs. 25/- per instance
Standing instructions amendment
Rs. 25/- per instance
Standing instructions execution
NIL
Standing Instructions failure (return)
Rs. 200/- per return
ECS Return due to financial reasons
Rs. 200/- per return
SMS Alerts
Rs. 15 per Quarter
Balance Certificate Branch (Online Free)
Rs. 250/- per insatance
Previous Year balance and interest statement
1 free per annum, more than 1 Rs. 300/- per statement
Passbook Issuance
Free
Duplicate Passbook issuance
Rs. 200/-
Signature verification certificate
Rs. 50/- per instance
Duplicate TDS certificate
Rs. 100/-
Duplicate account statement Print (Free Online or on email)
Rs. 200/-
DD/PO revalidation/cancellation
Rs. 100/-
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
Rs. 50 Per Instance
Cash pickup (Available only in Certain Branch Locations)
Rs. 150 Per Instance upto Rs. 200000; Rs. 300 for Rs. 2-5Lacs
Cash Delivery (Available only in Certain Branch Locations)
Rs. 150 Per Instance upto Rs. 200000; Rs. 300 for Rs. 2-5Lacs
Aggregation of all the customer induced transaction including:
Cash / Cheque / RTGS / NEFT / IMPS / DSB / DD
15 txns free per month
Charges beyond free limits
Rs. 15 per transaction over and above the individual transaction limits