NRI Accounts

NRI Savings Account.

Transfer your funds from anywhere in the World.

NRI Accounts

NRI Savings Account is an interest bearing checking account where the balances are held in Indian Rupees.
There are two types of NRI Savings Account: Non Resident External and Non Resident Ordinary.
Citibank offers three packages - Regular, Preferred or Citigold, based on the relationship balance maintained in the accounts.

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Features and Benefits:

  • Interest bearing Savings Account*
  • Convenience
    • Zero charge funds transfers and bill pay options
    • Zero charge international wire remittance facilities
    • Cheque Book at no charge
  • 24/7 Access
    • 24/7 Online and Mobile Banking
    • Online Phone Banking
    • Debit Card with global access - access your account at ATMs or for paying for purchases at MasterCard merchant establishments anywhere in the world. Know more
  • Exciting Privileges and Offers
Non Resident External (NRE) Account Non Resident Ordinary (NRO) Account

Right for you if:

You are opening and maintaining this account
with funds from overseas on repatriable
income basis

OPEN NRE ACCOUNT

Right for you if:

You have income in India

OPEN NRO ACCOUNT

Who can open an account
  • NRIs and PIOs

  • Useful for your foreign income earned outside India to earn tax-free interest.
  • NRIs and PIOs

  • Useful to manage your income earned in India such as rent, dividends, pension.
Funds Transfer Funds can be transferred from overseas or any other NRE/FCNR account with any bank in India. Funds can be transferred from overseas/domestic bank account in India**/NRE/NRO/FCNR account with any bank in India.
Who can be a joint holder With two or more NRIs/ PIOs or with a resident relative on 'former or survivor' basis as Power of Attorney holder. With two or more NRIs/ PIOs or with a resident relative on 'former or survivor' basis as Power of Attorney holder.
Currency Indian Rupees(INR) Indian Rupees(INR)
Interest Rate Calculated on daily balances and paid quarterly Calculated on daily balances and paid quarterly
Taxation
  • Income from interest on balances standing to the credit of NRE Accounts is exempt from Income Tax. Likewise balances held in such accounts are exempt from wealth tax.

  • However, interest earned may be subject to tax in the country of residence of the customer.
  • Interest earned on this account is taxable in India. Tax is currently deducted at source at 30% +CESS, subject to DTAA.

  • In addition to the interest taxed in India, the interest earned may also be subject to tax in the country of residence of the customer.
Repatriation Principal and interest are fully repatriable. Only interest is fully repatriable after tax deduction.
Not repatriable except for all current income. Balances are remittable up to USD 1 (one) million per financial year (April-March) along with their other eligible assets.

* Please check the Rupee Checking Account rate schedule for the latest interest rates.

** subject to account terms and conditions

Please Note:

Depending on the amounts being deposited, we may require your ID copies, PAN Card and (or) a letter confirming the source of funds for large cash deposits to your Non Resident External Account/Non Resident Ordinary Account.

Disclaimers:

Citibank India does not market any product or service to individuals resident in the European Union, European Economic Area, Switzerland, Guernsey, Jersey, Monaco, San Marino, Vatican, and The Isle of Man. This webpage is not, and should not be construed as, an offer, invitation or solicitation to buy or sell any of the products and services mentioned herein to individuals resident in the European Union, European Economic Area, Switzerland, Guernsey, Jersey, Monaco, San Marino, Vatican, and The Isle of Man.