|
The complete banking network that connects you
with the hometown.
Featured the services provided
by M.C.U.B for non-resident Indians.
- Savings Bank.
- Current Account.
- Term Deposits.
- Re-Investment Plans.
- Recurring Deposits. Etc.
Methods to open an NRI
account.
- Through existing NRE/FCNR accounts.
- Send it directly from abroad.
- With foreign money brought to India
as per rules and regulations.
- Jointly with another NRI account holder.
- By authorization an NRI can opt a person
residing at India for money transaction of NRE
account.
- Instruction can be given to Bank for
remitting Insurance Premium, School Fee,
Telephone
Bills and etc.
Tax Relaxations for NRE accounts
- Free from wealth tax.
- Exempted from Income Tax.
- Amount released from these accounts as
Gift is exempted from Gift Tax.
- Deposit rates for NRE accounts: Savings Bank Account
per year 5.5%.
|
