#1
8th July 2016, 04:23 PM
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State Bank of India NRE Account
Would you please give here detail about the types of Non Resident External (NRE) Accounts & Deposits at State Bank of India ?
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#2
8th July 2016, 05:36 PM
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Re: State Bank of India NRE Account
Through Non Resident External (NRE) Account at State Bank of India customers can park overseas earnings remitted to India and converted to Indian Rupees. Types of NRE Accounts & Deposits: Savings Bank (SB) / Current Account Rupee denominated account Account can be opened with a zero balance Interest is paid half yearly on the daily balance in Savings Bank account. No interest is paid in Current Account. Minimum Deposit: In General Branches: No minimum amount In Personal Banking Branches: For Metro / Urban areas: Rs. 1 lakh For Semi-Urban / Rural areas Rs. 50,000 Principal & interest amount are fully repatriable Nomination facility available Term Deposits (TDR) – Rupee deposits of fixed tenure Account can be opened with a zero balance Interest is paid quarterly on Term Deposit Receipts (TDRs). Minimum Deposit: In General Branches: Rs. 1000/- In Personal Banking Branches: Rs. 1 lakh for Metro / Urban areas Rs. 50,000 for Semi-Urban / Rural areas Nomination facility available Can avail a loan/overdraft against your deposit Premature withdrawal permissible Special Term Deposits (STDR) – Rupee deposits of fixed tenure Interest gets compounded every quarter. Minimum Deposit: In General Branches: Rs. 1000/- In Personal Banking Branches: Rs. 1 lakh for Metro / Urban areas Rs. 50,000 for Semi-Urban / Rural areas Can avail a loan/overdraft against your deposit Premature withdrawal permissible Automatic renewal on maturity Recurring Deposits (RD) – Minimum monthly installment : Rs.100/- Principal & interest amount are fully repatriable Nomination facility available Premature withdrawal permissible No automatic renewal will happen. |