Bank of India Vietnam
Currency USD
Buying Rates
22915
Selling Rates
22945
Currency SGD
Buying Rates
0
Selling Rates
Currency JPY
Buying Rates
0
Selling Rates
0
Currency INR
Buying Rates
0
Selling Rates
72.03
SALIENT FEATURES OF NON-RESIDENT (ORDINARY) DEPOSITS
NRO accounts can be opened by any person resident outside India for routing bonafide transactions in Indian Rupees not involving any violations of the provisions of FEMA guidelines.
NRO accounts can be opened in the form of current, savings, recurring and term deposits. The rate of interest on these deposits is at par with domestic deposits in our Bank.
The accounts may be held jointly with Residents and/or Non-Residents.
Power of Attorney may be given in favour of the Residents by the NRI provided such operations are restricted to -
The tax on interest earned from NRO accounts is deducted at source. However, the TDS is applicable as per Double Taxation Avoidance Agreement (DTAA) entered with 71 countries by Govt. of India.
NRIs / PIOs may remit USD 1 million per financial year from NRO accounts subject to compliance with certain conditions.
Non-Resident Indian can make nomination in favour of a Resident as well as Non-Resident individual in respect of NRO accounts.
Loan and overdraft facilities can be availed of by NRIs against NRI deposits -
You may please visit RBI website www.rbi.org.in and refer to Master Circular No. RBI/2010-11/3 dated 01.07.2010.