It is meant for steady and gradual savings for individuals to build-up savings through regular monthly deposit of a fixed sum over a fixed period and mobilizing savings of those who get income on monthly basis and can afford to set apart a portion of their income. The salient features are as mentioned below.
| Name of the Product | “SIRI – 444” Special Retail Term Deposit Scheme” | |||||
|---|---|---|---|---|---|---|
| Scheme Name | APGB- Stability and Protection Retail Term Deposit Receipt | |||||
| Scheme Code |
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| Interest Payout Facility |
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| Eligible Customers |
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| Tenor | Fixed at 444 Days | |||||
|
Interest Rates (Subject to revision from time to time) |
@ 7.15 % | |||||
| Senior Citizens | Additional 0.50% (50 bps) over and above applicable ROI respectively. (i.e.; 7.65%) | |||||
| Super Senior Citizens | Additional 0.75% (75 bps) over and above applicable ROI respectively. (i.e.; 7.90%) | |||||
| Staff of the Bank / spouse of the Deceased staff / spouse of the Deceased Retired staff of the Bank | Additional 1.00% (100 bps) is offered over above applicable ROI. (i.e.; 8.15%) | |||||
| Retired staff / Spouse of Deceased Staff, if senior citizen / Spouse of Retired Deceased Staff of the Bank, if senior citizen | Additional 1.50% (150 bps) is offered over above applicable ROI. (i.e.; 8.65%) | |||||
| Retired staff / Spouse of Deceased Staff, if Super senior citizen / Spouse of Retired Deceased Staff of the Bank, if Super senior citizen | Additional 1.75% (175 bps) is offered over above applicable ROI. (i.e.; 8.90%) | |||||
| * The benefit of additional interest rate on deposits on account of being bank’s own staff/ Retired staff or senior / Super Senior citizens shall not be available under NRE and NRO deposits. | ||||||
| Minimum amount | Minimum deposit of Rs.10000 and Multiples of Rs.1 thereafter | |||||
| Maximum amount | Maximum of Rs.99,99,999/- | |||||
| Nomination facility | Applicable | |||||
| TDS | Interest Income is liable for Tax as per the IT Act. | |||||
| Automatic Renewal Facility | Available | |||||
| Overdraft / Demand Loan facility | Subject to the opted interest payout facility, interest shall be recovered at Monthly, Quarterly, Half-Yearly, or On Maturity intervals and credited to the respective loan account. | |||||
| Premature Withdrawal | Available with a penalty of 1% for the deposits with principal of Rs.5 lakhs & above | |||||
| Name of the Product | SAMRUDDHI - 555 Days Special Retail Term Deposit Scheme | |||||
|---|---|---|---|---|---|---|
| Scheme Name | APGB- Samruddhi 555 Days Special Retail Term Deposit Scheme | |||||
| Scheme Code |
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| Interest Payout Facility |
|
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| Eligible Customers |
|
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| Tenor | Fixed at 555 Days | |||||
|
Interest Rates (Subject to revision from time to time) |
@ 7.25 % | |||||
| Senior Citizens | Additional 0.50% (50 bps) over and above applicable ROI respectively. (i.e.; 7.75%) | |||||
| Super Senior Citizens | Additional 0.75% (75 bps) over and above applicable ROI respectively. (i.e.; 8.00%) | |||||
| Staff of the Bank / spouse of the Deceased staff / spouse of the Deceased Retired staff of the Bank | Additional 1.00% (100 bps) is offered over above applicable ROI. (i.e.; 8.25%) | |||||
| Retired staff / Spouse of Deceased Staff, if senior citizen / Spouse of Retired Deceased Staff of the Bank, if senior citizen | Additional 1.50% (150 bps) is offered over above applicable ROI. (i.e.; 8.75%) | |||||
| Retired staff / Spouse of Deceased Staff, if Super senior citizen / Spouse of Retired Deceased Staff of the Bank, if Super senior citizen | Additional 1.75% (175 bps) is offered over above applicable ROI. (i.e.; 9.00%) | |||||
| * The benefit of additional interest rate on deposits on account of being bank’s own staff/ Retired staff or senior / Super Senior citizens shall not be available under NRE and NRO deposits. | ||||||
| Minimum amount | Minimum deposit of Rs.10000 and Multiples of Rs.1 thereafter | |||||
| Maximum amount | Maximum of Rs.99,99,999/- | |||||
| Nomination facility | Applicable | |||||
| TDS | Interest Income is liable for Tax as per the IT Act. | |||||
| Automatic Renewal Facility | Available | |||||
| Overdraft / Demand Loan facility | Subject to the opted interest payout facility, interest shall be recovered at Monthly, Quarterly, Half-Yearly, or On Maturity intervals and credited to the respective loan account. | |||||
| Premature Withdrawal | Available with a penalty of 1% for the deposits with principal of Rs.5 lakhs & above | |||||
| Name of the Product | APGB - NRE Kalpalatha Term Deposit Scheme (KLNRE) | |
|---|---|---|
| Scheme Name | KLNRE | |
| Eligible Customers | NRIs/PIOs | |
| Joint Account | Permitted with Resident Indian or NRIs/PIOs | |
| Interest Rate |
As applicable to the Term deposits
based on Term period. (Subject to
revision from time to time) |
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| Tenor | Minimum period of 1 year and Maximum period of 120 months. | |
| Minimum amount | Minimum deposit of Rs.100 and Multiple of Rs.1 thereafter | |
| Payment of Interest | Interest will be paid on maturity or closure of the deposit | |
| Nomination facility |
Available. (Either Non-resident/Resident) *In case of resident nominee, consideration is required from RBI to meet liabilities outside India against deceased account holder. |
|
| TDS | Tax exemption from the entire deposit (principal and interest) | |
| Automatic Renewal Facility | Available | |
| Risk on Exchange | Borne by the Depositor | |
| Overdraft / Demand Loan facility | Available | |
| Penalty for Premature Closure |
No penalty shall be levied for premature withdrawal of NRE term
deposits for converting into Resident Foreign Currency
Account. No penalty shall be levied for splitting of the Term Deposits at request from the claimant/s of deceased depositor or Joint account holders if the period and aggregate amount of the deposit remain unchanged. |
|
| Name of the Product | APGB - NRE Fixed Monthly Income Scheme (FMNRE) | |
|---|---|---|
| Scheme Name | FMNRE | |
| Eligible Customers | NRIs/PIOs | |
| Joint Account | Permitted with Resident Indian or NRIs/PIOs | |
| Interest Rate |
As applicable to the Term deposits
based on Term period. (Subject to
revision from time to time) |
|
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| Tenor | Minimum period of 1 year and Maximum period of 120 months. | |
| Minimum amount | Minimum deposit of Rs.100 and Multiple of Rs.1 thereafter | |
| Payment of Interest | Monthly( The interest shall be calculated for the quarter and paid monthly at discounted value) | |
| Nomination facility |
Available. (Either Non-resident/Resident) *In case of resident nominee, consideration is required from RBI to meet liabilities outside India against deceased account holder. |
|
| TDS | Tax exemption from the entire deposit (principal and interest) | |
| Automatic Renewal Facility | Available | |
| Risk on Exchange | Borne by the Depositor | |
| Overdraft / Demand Loan facility | Available Note: Monthly interest shall be credited to Loan against Deposit until the liability is closed. |
|
| Penalty for Premature Closure |
No penalty shall be levied for premature withdrawal of NRE term
deposits for converting into Resident Foreign Currency
Account. No penalty shall be levied for splitting of the Term Deposits at request from the claimant/s of deceased depositor or Joint account holders if the period and aggregate amount of the deposit no change. |
|
| Name of the Product | APGB - NRE Fixed Quarterly Income Scheme (FDNRE) | |
|---|---|---|
| Scheme Name | FDNRE | |
| Eligible Customers | NRIs/PIOs | |
| Joint Account | Permitted with Resident Indian or NRIs/PIOs | |
| Interest Rate |
As applicable to the Term deposits
based on Term period. (Subject to
revision from time to time) |
|
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| Tenor | Minimum period of 1 year and Maximum period of 120 months. | |
| Minimum amount | Minimum deposit of Rs.100 and Multiple of Rs.1 thereafter | |
| Payment of Interest | Quarterly ( The interest shall be calculated for the quarter and paid quarterly at discounted value) | |
| Nomination facility | Available.(Either Non-resident/Resident) *In case of resident nominee, consideration is required from RBI to meet liabilities outside India against deceased account holder. |
|
| TDS | Tax exemption from the entire deposit (principal and interest) | |
| Automatic Renewal Facility | Available | |
| Risk on Exchange | Borne by the Depositor | |
| Overdraft / Demand Loan facility | Available Note: Quarterly interest shall be credited to Loan against Deposit until the liability is closed. |
|
| Penalty for Premature Closure |
No penalty shall be levied for premature withdrawal of NRE term
deposits for converting into Resident Foreign Currency Account. No penalty shall be levied for splitting of the Term Deposits at request from the claimant/s of deceased depositor or Joint account holders if the period and aggregate amount of the deposit no change. |
|
| Name of the Product | APGB - NRO Kalpalatha Term Deposit Scheme (KLNRO) | |
|---|---|---|
| Scheme Name | KLNRO | |
| Eligible Customers | NRIs/PIOs | |
| Joint Account | Permitted with Resident Indian or NRIs/PIOs | |
| Interest Rate |
As applicable to the Term deposits
based on Term period. (Subject to
revision from time to time) |
|
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| Tenor | Minimum period of 7 days and Maximum period of 120 months. | |
| Minimum amount | Minimum deposit of Rs.100 and Multiple of Rs.1 thereafter | |
| Payment of Interest | Interest will be paid on maturity or closure of the deposit | |
| Nomination facility | Applicable ( Either Resident / Non-resident) * Payable to NRO account in case of Non-resident Nominee. |
|
| TDS | Interest Income is liable for Tax as per the IT Act. | |
| Automatic Renewal Facility | Available | |
| Risk on Exchange | Borne by the such Depositor | |
| Overdraft / Demand Loan facility | Available | |
| Penalty for Premature Closure |
1% for the deposits with principal of Rs.5 lakhs & above No penalty shall be levied for splitting of the Term Deposits at request from the claimant/s of deceased depositor or Joint account holders if the period and aggregate amount of the deposit no change. |
|
| Name of the Product | APGB - NRO Fixed Monthly Income Scheme (FMNRO) | |
|---|---|---|
| Scheme Name | FMNRO | |
| Eligible Customers | NRIs/PIOs | |
| Joint Account | Permitted with Resident Indian or NRIs/PIOs | |
| Interest Rate |
As applicable to the Term deposits
based on Term period. (Subject to
revision from time to time) |
|
|
||
| Tenor | Minimum period of 7 days and Maximum period of 120 months. | |
| Minimum amount | Minimum deposit of Rs.100 and Multiple of Rs.1 thereafter | |
| Payment of Interest | Monthly( The interest shall be calculated for the quarter and paid monthly at discounted value) | |
| Nomination facility | Applicable ( Either Resident / Non-resident) * Payable to NRO account in case of Non-resident Nominee. |
|
| TDS | Interest Income is liable for Tax as per the IT Act. | |
| Automatic Renewal Facility | Available | |
| Risk on Exchange | Borne by the such Depositor | |
| Overdraft / Demand Loan facility | Available Note: Monthly interest shall be credited to Loan against Deposit till the liability closed. |
|
| Penalty for Premature Closure |
1% for the deposits with principal of Rs.5 lakhs & above No penalty shall be levied for splitting of the Term Deposits at request from the claimant/s of deceased depositor or Joint account holders if the period and aggregate amount of the deposit no change. |
|
| Name of the Product | APGB - NRO Fixed Deposit Scheme (FDNRO) | |
|---|---|---|
| Scheme Name | FDNRO | |
| Eligible Customers | NRIs/PIOs | |
| Joint Account | Permitted with Resident Indian or NRIs/PIOs | |
| Interest Rate |
As applicable to the Term deposits
based on Term period. (Subject to
revision from time to time) |
|
|
||
| Tenor | Minimum period of 7 days and Maximum period of 120 months. | |
| Minimum amount | Minimum deposit of Rs.100 and Multiple of Rs.1 thereafter | |
| Payment of Interest | Interest will be paid on quarterly intervals | |
| Nomination facility | Applicable ( Either Resident / Non-resident) * Payable to NRO account in case of Non-resident Nominee. |
|
| TDS | Interest Income is liable for Tax as per the IT Act. | |
| Automatic Renewal Facility | Available | |
| Risk on Exchange | Borne by the such Depositor | |
| Overdraft / Demand Loan facility | Available Note: Monthly interest shall be credited to Loan against Deposit till the liability closed. |
|
| Penalty for Premature Closure |
1% for the deposits with principal of Rs.5 lakhs & above No penalty shall be levied for splitting of the Term Deposits at request from the claimant/s of deceased depositor or Joint account holders if the period and aggregate amount of the deposit no change. |
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NRIs can open the following types of accounts: In Indian Rupees: NRE (Non-Residential External) and NRO (Non-Residential Ordinary) In Foreign Currency: FCNR (Foreign Currency Non-Residential)
Yes, there are no restrictions on opening and maintaining multiple accounts with different banks.
Yes, NRIs can open joint accounts with other NRIs.
Yes, NRIs can open joint accounts with resident close relatives as defined in the Companies Act 1956, Section 2(41) and Section 6, and as per RBI circular dated 22/09/2011.
No, NRIs can reside in different countries and still open joint accounts.
Yes, an NRI can appoint a Power of Attorney (POA) holder to make local payments from their NRE/NRO accounts and to make investments on their behalf.
The Power of Attorney holder cannot perform the following actions:
Open or close NRI accounts in the name of the NRI.
An individual NRI can bring USD 10,000 or its equivalent in FC, out of which a maximum of USD 5,000 can be in the form of currency notes without declaring it in the CDF. Any amount exceeding these limits must be declared to customs. The remaining amount or the entire amount can be in the form of traveller's cheques (TCs).
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