NRI Products offered by Vijaya

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NRI Products offered by Vijaya Bank
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NRI Products

• To provide seamless banking experience to NRIs,
  Vijaya Bank has entered into correspondent
  banking relationship with more than 300 major
  international banks across the world.
• NRI Products offered by Vijaya Banks
• NRE Accounts
• NRO Accounts
• FCNR(B) Accounts
• Resident Foreign Currency Deposit Account (RFC)
• Remittances Facilities

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NRE Accounts

• Eligibility Persons who are of Indian
  origin/nationality residing outside India
  Non-Resident Indians
• Period NRE accounts can be held either as
  operative accounts or as term deposits, ranging
  from 1 year time period up to 10 years.
• Currency These accounts can be maintained in
  Indian rupees and the amount along with the
  interest is fully repatriable.
• Withdrawals
• For local payments, funds can be withdrawn
  freely.
• For local disbursement, funds can be withdrawn
  freely from savings current account.
• Funds can be remitted either in foreign currency
  or foreign currencies which are convertible to
  Indian rupees including the interest earned.
• Tax Benefits
• Interest earned from NRE account is exempted from
  income tax when the account is in individuals
  name.
• Gifts made from NRE account are free from Gift
  Tax.
• Balance in NRE account is free from Wealth Tax.

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NRO Accounts

• Eligibility A person/entity residing outside
  India can open an NRO account (for the purpose of
  putting through bonafide transactions denominated
  in Rupees).
• Term Minimum of 15 days to maximum of 10 years.
• Renewal of Term Deposit This account can be
  renewed on maturity for extended periods.
• Repatriability Current income earned, such as
  salary, pensions in India of the account holder,
  net applicable taxes etc., are eligible for
  repatriation.
• Tax Liability Interest earned from NRO account
  is subjected to Income Tax and is deducted at the
  source.

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FCNR(B) Accounts

• Eligibility Persons who are of Indian
  origin/nationality residing outside India
  Non-Resident Indians.
• Term Minimum of 1 year to maximum of 5 years
  only.
• Currency FCNR(B) accounts accept these
  currencies - Pound Sterling, US Dollar and Euro.
• Repatriability Interest earned and the principle
  amount is repatriable freely.
• Tax Benefits Interest earned from FCNR(B)
  accounts is free from Income Tax.

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Resident Foreign Currency Deposit Account (RFC)

• To keep Foreign Currency assets, a NRI can open,
  hold maintain Resident Foreign Currency (RFC)
  account upon his return to India.
• RFC account can be maintained in the form of
  Current or Savings or Term Deposit in case of
  individual account holder and in all other cases,
  it has to be maintained in the form of
  current/term deposit account.
• Term Minimum of 1 year to maximum of 3 years
  with applicable simple interest.

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Remittances Facilities

• Vijaya Bank has joined hands with Remit2India for
  helping NRIs to send money back to India.
• Advantages/Benefits
• Trusted brands - Vijaya Bank The Times Group.
• Multiple ways to receive money based on the
  beneficiaries convenience.
• Round the clock customer support by TimesofMoney
  Ltd.
• Attractive exchange rates.
• Flexibility - send money from anywhere, anytime.
• Real-time tracking of transaction at TimesofMoney
  Website.
• Peace of mind - safe, speedy, inexpensive and
  hassle free transactions.
• Money can be sent online from 23 countries.

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VIJAYA BANK

• Vijaya Bank is a PAN India Institution, serving
  diverse sectors of the society.
• The Bank offers a bouquet of innovative and
  attractive products and services to its
  customers. It has also incorporated a host of
  latest Digital Banking products, to provide the
  best services to its customers.
• Digital Banking services are
• VPAYQWIK
• Mobile Banking
• Net Banking
• Vijaya UPI
• Twitter banking and many more
• For details, visit https//www.vijayabank.com

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THANK-YOU