NRI Deposit Scheme- Types of account

Non Resident Indians (NRIs) and person of Indian Origin have two schemes for depositing their savings with Bank of India.
These are: - Repatriable accounts

  • Foreign Currency Non Resident (FCNR) accounts and,
  • Non-Resident External (NRE) accounts

The brief comparative features of the two schemes are :

NRI Deposit Scheme- Types of account

Type of account Term deposits Savings, Current and Term deposits
Period 12 months to 5 years 12 months to 7 years
Minimum amount USD 1,500
GBP 1,000
EUR 1,500
JPY 50,000
AUD 1,000
CAD 1,000