Open NRI Account In Union Bank Of India

Hii Buddy , I want to know Open NRI Account IN Union Bank Of India Here Will you plzz tell me What is the Rate of Interest for Non Resident External Account and Application form ?

[pawan]

Friend Have a Look Here I m Giving Details about NRI Account In Union Bank Of India :

Particulars Non-Resident (External) Rupee Account ( NRE) - Current Deposit (CD)

Currency Indian Rupees

Type of Accounts Current

Sources of Funding the Account

Funds remitted from abroad in any permitted currency through banking channels.

Depositing cheque / draft drawn in foreign currency or INR, drawn on Vostro A/cs maintained by foreign bank and exchange houses with us.

Transfer from other NRE / FCNR accounts of the same account holder or another account holder with our Bank or other Banks accompanied by a certificate from paying bank.

Surrender of foreign currency / foreign currency travellers’ cheques to the Bank by the account holder in person.


Rate of Interest
No Interest Paid

Eligibility :

NRIs / PIOs (other than person resident in Nepal and Bhutan) (such individuals from Bangladesh and Pakistan require prior approval of RBI)
Joint Account with One or more NRIs / PIOs

Nomination Permitted

Minimum Balance

Average quarterly balance in SB A/c
Rs.5000/- (for metro & urban)
Rs.______/- (for SU / rural)

Tax on Interest Income
No Income Tax

Operations by Power of Attorney in favour of a resident

Operations in the account in terms of Power of Attorney is restricted to withdrawals for permissible local payments and for investment in the name of account holder. Remittance to the account holder abroad is permitted, if the PA document provides for the same.

Union Bank Of India NRE Account Opening Application Form