FAQ's

Frequently Asked Questions.

Frequently Asked Questions

Click here to view a demo on how to upload your instructions and documents to Citibank Online.

  • Citibank Online

  • Banking

  • Payments and Transfers

  • Interest and Taxes

  • Insurance

Click on to expand and on to minimise the details.

Your Top Queries

To access Citibank Online as a first time user, you will need to create a User ID and Internet Password. You can create a User ID and Internet Password using the Debit Card for your Rupee Checking Account and the ATM Personal Identification Number.

If you had opted not to receive a Debit Card for your Rupee Checking Account at the time of account opening, you will not receive a Debit Card and will not be able to access your account online. If you had opted to receive a Debit Card for your Rupee Checking Account at the time of account opening and have not received your Debit Card within 2 weeks of receiving a confirmation that your account is open, please call CitiPhone.

To create a User ID, Select First Time User ? Register from the Home Page and follow these simple steps:

Step 1: Enter Account Information

From the drop down menu, please select NR Rupee Checking Account.

Step 2: Authenticate Account Information

You will need to enter your 16-digit Debit Card Number, CVV Number (this is the last 3 digits on the reverse of your Debit Card below the magnetic strip), Date of Birth and ZIP Code or your Passport Number.

Once you enter these details, please read the Terms & Conditions for selecting an Internet Password and agree to these Terms & Conditions.

Now select Proceed.

Once you have selected Proceed, you will need to authenticate your Account Information with a One-Time Password and ATM Personal Identification Number before you can select your User ID and Internet Password. We will send you a One-Time Password to the registered mobile phone on your account as a text message and to your registered email address. This One-Time Password is valid for 15 minutes from the time you have placed your request. You will also need to enter your ATM Personal Information Number (ATM PIN) in the section provided.

Step 3: Select user ID

Once you have provided your Account Information and verified the One Time Password and your ATM PIN, you can select a User ID of your choice. Please note that the User ID has to be a minimum of 6 and maximum of 50 characters, alpha numeric and must not contain any blanks spaces. You can only use the following special characters: ".", "_" and "@".

Step 4: Select Internet Password

Once you have selected your User ID, you can continue to select an Internet Password of your choice.

Please note that your Internet Password should:

  • Be something that you can easily recall, yet discreet and not decipherable to others
  • Be a minimum of 8 and maximum of 16 characters
  • Be alphanumeric
  • Not contain blank spaces
  • Not contain the following special characters ", <, >, /, \, &, %

Now, you can login to your Account at Citibank Online using the User ID and Internet password you have created.

Here are guidelines you can follow when creating a password and ways to protect it after the fact.

Choose a Good Password. These tips make it difficult for others to guess your password and help protect your account.

Dos and Don'ts Examples
Do use at least 8 characters and a combination of letters and numbers. Good Passwords
fireman28a
5crickfan1963
mar23mbbd
Do not use single words that can be found in any dictionary. Bad Password
kangaroo
Do not use your name, your spouse's name, your pet's name, birthday, favorite food, or any personal information that others can easily obtain. Bad Passwords
viperfan
fido (pet's name)
Do not use blank spaces Incorrect Password
atul Sharma
Do not use the following special characters ", <, >, /, \, &, % Incorrect Password
a&tul<sharma%
Do not use a password that contains part of your online User ID or email address. Bad Password
jimmy (while your ID is jimmyrockstar)

Password and Account Protection. There are several ways to protect your password.

  • Make it memorable. Pick something you will remember. Also, since this will be the password you need to access your accounts, take the time to think of a strong one.
  • Change it periodically. It?s a good practice to reset your password every 30 or 60 days.
  • Don?t share it. No one representing Citibank will ask for your password in any way other than through the secure web form on our website. You should never give it to anyone who asks for it via email, phone or any other medium ? even if they say they are from Citibank.
  • Always sign-off. End your session properly by selecting "sign-out" and then close the browser window ? especially if you are using a computer at an internet caf? or a public place.
  • Download security updates. Most browsers and operating systems automatically notify you of security updates at launch, so you can download them right away. If you don?t want to download a patch or update immediately, make it a point to visit the company?s site as soon as you can; all have clearly marked areas where you can obtain downloads.

If you had selected a User ID and an Internet Password to access your account online but have forgotten either your User ID or Internet Password, you can retrieve these.

Please select the Forgot User ID or Password? link from the Home Page and follow the simple steps to retrieve your User ID or Internet Password.

You can transfer funds online from your Non-Resident External (NRE) Account or Non-Resident Ordinary (NRO) Account to a bank account in India either through the National Electronic Funds Transfer (NEFT) system or the Real Time Gross Settlement (RTGS) system. There are over 100,000 branches of banks in India that accept transfers made through the NEFT or RTGS system. Kindly note, online transfer of funds from NRO to NRE Account is not possible.

For more details, please check Transfers to any bank account section under the Payments & Transfers page in this website.

You can also provide us with written instructions to transfer funds from your Non-Resident External or Non-Resident Ordinary Rupee Checking Account to a bank account in India. Please complete the Funds Transfer Request Form and mail it to Citibank Mail Room address.

There are many convenient options for you to send money from overseas to your Rupee Checking Account in India. Please read through the details of the options available in your country of residence in the Transfers from Overseas section under the Payments & Transfers page in this website to decide on the option that is most convenient for you.

You can transfer funds from your Non-Resident External Rupee Checking Account to any bank account overseas easily. Transfer of funds from a Non-Resident Ordinary Rupee Checking Account to a bank account overseas or to a Non-Resident External Checking Account or a Foreign Currency Non-Resident Deposit Account is called repatriation and is subject to limits and documentation guidelines of the Reserve Bank of India.

With Citibank Global Transfers, you can transfer funds from your Non-Resident External Rupee Checking Account to your Citibank Account overseas. Please read Citibank Global Transfers in Transfers from India section under the Payments & Transfers page in this website for more details.

If you have a Non-Resident External Rupee Checking Account and any active Terms Deposits linked to this account, you can transfer funds online from your Non-Resident External Rupee Checking Account to any bank account worldwide. Please read Funds Transfers in Transfers from India section under the Payments & Transfers page in this website for more details.

You can also complete the Funds Transfer Request Form and mail the completed form to the NRI Service Center in your country of residence or to Mail Room address. India. You can also visit any Citibank branch in India to hand over this form in person. Please remember that all Account Holder on the account need to sign this instruction.

To learn more about transferring funds from your Non-Resident Ordinary Rupee Checking Account or Non-Resident Ordinary Deposits, please read Repatriation under the Payments & Transfers from India section in this website.

For our mutual protection, our representatives from India may call you on the registered contact numbers on your account to confirm your request prior to executing the instructions. If you have not updated your contact information and we are unable to confirm your request, execution of your instruction may be delayed. Please ensure that your contact information is updated on our records at all times.

It is extremely important that you keep your contact information on your account updated at all times.

To update your address, phone numbers and email address, please login to your account and edit your contact details under the “Your Contact Details” link on the left navigation. To make changes to your account, you will also need to enter an Online Authorization Code (OAC) that will be sent to your registered mobile phone on your account and to your registered email address to authenticate this transaction.

The Reserve Bank of India requires us to collect documentary proof for all address change requests. So, if you change your address online, please send us a signed photocopy of any one of the following as proof of your updated address, along with a letter confirming your Rupee Checking Account Number:

  • Valid Passport with address
  • Valid Driving license with address
  • Documents issued by Government department of foreign Jurisdiction (for foreign passport holder only)
  • Letter issued by Foreign Embassy/Mission in India (For foreign Passport holder only) (for foreign passport holder only)

Alternatively, where one of the above documents is available for mailing address, below documents can be submitted as proof for permanent address in addition to above document:

  • Utility bill not more than 2 month old of any service provided (Electricity , telephone, post-paid mobile phone, piped gas, water bill)
  • Property or municipal tax receipt
  • Latest Bank account or post office savings bank account statement

Alternately you can also mail them to Citibank Mail Room address. You can also provide these documents in person at any Citibank branch in India.

Please Note: If you hold only a Time Deposit Account, you will not be able to update your contact details online. You can complete the Account Instruction Form and mail it along with proof of address as mentioned above, to Citibank Mail Room address.

If there are no customer initiated transactions on your account for a consecutive period of 12 months, your account gets tagged as an Inactive Account. You will continue to earn interest on the balances in your account; however, certain transactions may be blocked for our mutual protection. To activate your Inactive Account, all you need to do is:

  • Login to your account and initiate a financial transaction. This could be a funds transfer to any bank account in India or order a Demand Draft payable to anyone. OR
  • Call CitiPhone and request for your account to be activated.

If you have not operated your account for a consecutive period of 24 months, your Inactive Account gets tagged as a Dormant Account. You will continue to earn interest on the balances in your account; however, certain transactions may be blocked for our mutual protection. To activate your Dormant Account, all you need to do is:

  • Complete the Funds Transfer Form and give us instructions to perform a financial transaction from your account
  • Provide a signed photocopy of a proof of address (recent utility bill or recent bank statement or driver’s license) and government issued photo identification (passport or PIO or OCI Card or driver’s license)
  • You can mail these documents to the Mail Room address. You can also visit any Citibank branch in India to hand over these documents in person.

For our mutual protection, our representatives from India may call you on the registered contact numbers on your account to confirm your request prior to executing the instructions. If you have not updated your contact information and we are unable to confirm your request, execution of your instruction may be delayed. Please ensure that your contact information is updated on our records at all times.

For your convenience, if you have chosen the automatic rollover option when the original deposit was booked, then you do not have to do anything. Your deposits will be automatically rolled over for the same tenure as the original deposit, at the prevailing interest rate at the time of the roll over.

You will also receive a maturity alert approximately 14 days prior to maturity of the deposit. If you wish to change the tenure or the amount and rebook the deposit, please complete the Deposit Application form for existing customers and mail it to the NRI Service Center in your country of residence or to Mail Room address. You can also visit any Citibank branch in India to hand over this form in person. Please remember that all Account Holders on the account need to sign this instruction.

If you wish to terminate this deposit on maturity, please complete the Fund Transfers Request Form. You can mail the completed form to the NRI Service Center in your country of residence or to Mail Room address. You can also visit any Citibank branch in India to hand over this form in person. Please remember that all Account Holder on the account need to sign this instruction.

For our mutual protection, our representatives from India may call you on the registered contact numbers on your account to confirm your request prior to executing the instructions. If you have not updated your contact information and we are unable to confirm your request, execution of your instruction may be delayed. Please ensure that your contact information is updated on our records at all times.

Withdrawal of any Term Deposit prior to the original maturity date is called pre-termination. You can pre-terminate a deposit at any time. However, if you pre-terminate a deposit before the minimum tenure of the deposit, then no interest will be paid. The minimum tenure for Non-Resident External Deposits and Foreign Currency Non-Resident Deposits is 1 year and the minimum tenure for Non-Resident Ordinary Deposits is 7 days.

If you pre-terminate a Term Deposit in full, after you complete the minimum tenure of the deposit, you will earn interest on the deposit.

The interest rate paid on the withdrawn amount will be either:

  • The interest rate at the time of original deposit booking OR
  • The applicable rate of interest for the new tenure and amount on the date of pre-mature withdrawal
  • The lower interest rate between the above mentioned interest rates, less a penalty of 1% will apply

If you pre-terminate a Term Deposit partially, the original deposit is treated as two deposits ? one is the amount withdrawn and the other is the amount remaining in the deposit.

The interest rate paid on the withdrawn amount will be either:

  • The interest rate at the time of original deposit booking OR
  • The applicable rate of interest for the new tenure and amount on the date of pre-mature withdrawal
  • The lower interest rate between the above mentioned interest rates, less a penalty of 1% will apply

The Interest rate applicable on the remaining amount will be:

  • The applicable interest rate for this amount and tenure of original deposit
  • This rate may be the same as the original deposit or lower depending on the interest rates across tenures and amounts when the original deposit was booked

Please see illustration below for the interest paid on partial pre-mature withdrawals.

Illustration of interest paid in case of pre-termination prior to original maturity date, but after the minimum tenure of a deposit:
Original Deposit
Original Principal Amount INR 100,000
Original booking date June 1 2011
Original maturity date May 31 2013
Original tenure (days) 730
Original Interest rate 9%
Maturity Amount INR 118,810
Deposit Pre-Maturely Withdrawn Deposit Remaining
Amount withdrawn pre-maturely INR 60000 -
Amount remaining - INR 40000
Original booking date June 1 2011 June 1 2011
Pre-mature withdrawal date May 31 2012 -
Maturity date of Deposit Remaining - May 31 2013
Pre-mature withdrawal tenure (days) 365 -
Remaining Deposit tenure (days) - 730
Applicable interest rate on date of Withdrawal 8% -
Pre-Payment Penalty 1% -
Applicable interest rate on Remaining Deposit - 8%
Effective interest rate 7% 8%
Revised Amount (Paid out or Balance) INR 64200 INR 46656

Please note that the amounts in the above illustration may vary if Tax Deduction at Source (TDS) is applicable.

The Reserve Bank of India guidelines require all banks to periodically contact customers and collect most recent colour photograph, identification documents and proof of address.

To help us comply with this requirement, we may contact you and request you to send a completed Customer Profile Update form along with a recent colour photograph, copies of your identification documents and copies of proof of address.

If there are any changes to your identification documents or address, you can uploads these documents after you login to your account on Citibank Online.

Citibank Online

To access Citibank Online as a first time user, you will need to create a User ID and Internet Password. You can create a User ID and Internet Password using the Debit Card for your Rupee Checking Account and the ATM Personal Identification Number.

If you had opted not to receive a Debit Card for your Rupee Checking Account at the time of account opening, you will not receive a Debit Card and will not be able to access your account online. If you had opted to receive a Debit Card for your Rupee Checking Account at the time of account opening and have not received your Debit Card within 2 weeks of receiving a confirmation that your account is open, please call CitiPhone.

To create a User ID, Select First Time User ? Register from the Home Page and follow these simple steps:

Step 1: Enter Account Information

From the drop down menu, please select NR Rupee Checking Account.

Step 2: Authenticate Account Information

You will need to enter your 16-digit Debit Card Number, CVV Number (this is the last 3 digits on the reverse of your Debit Card below the magnetic strip), Date of Birth and ZIP Code or your Passport Number.

Once you enter these details, please read the Terms & Conditions for selecting an Internet Password and agree to these Terms & Conditions.

Now select Proceed.

Once you have selected Proceed, you will need to authenticate your Account Information with a One-Time Password and ATM Personal Identification Number before you can select your User ID and Internet Password. We will send you a One-Time Password to the registered mobile phone on your account as a text message and to your registered email address. This One-Time Password is valid for 15 minutes from the time you have placed your request. You will also need to enter your ATM Personal Information Number (ATM PIN) in the section provided.

Step 3: Select user ID

Once you have provided your Account Information and verified the One Time Password and your ATM PIN, you can select a User ID of your choice. Please note that the User ID has to be a minimum of 6 and maximum of 50 characters, alpha numeric and must not contain any blanks spaces. You can only use the following special characters: ".", "_" and "@".

Step 4: Select Internet Password

Once you have selected your User ID, you can continue to select an Internet Password of your choice.

Please note that your Internet Password should:

  • Be something that you can easily recall, yet discreet and not decipherable to others
  • Be a minimum of 8 and maximum of 16 characters
  • Be alphanumeric
  • Not contain blank spaces
  • Not contain the following special characters ", <, >, /, \, &, %

Now, you can login to your Account at Citibank Online using the User ID and Internet password you have created.

Here are guidelines you can follow when creating a password and ways to protect it after the fact.

Choose a Good Password. These tips make it difficult for others to guess your password and help protect your account.

Dos and Don'ts Examples
Do use at least 8 characters and a combination of letters and numbers. Good Passwords
fireman28a
5crickfan1963
mar23mbbd
Do not use single words that can be found in any dictionary. Bad Password
kangaroo
Do not use your name, your spouse's name, your pet's name, birthday, favorite food, or any personal information that others can easily obtain. Bad Passwords
viperfan
fido (pet's name)
Do not use blank spaces Incorrect Password
atul Sharma
Do not use the following special characters ", <, >, /, \, &, % Incorrect Password
a&tul<sharma%
Do not use a password that contains part of your online User ID or email address. Bad Password
jimmy (while your ID is jimmyrockstar)

Password and Account Protection. There are several ways to protect your password.

  • Make it memorable. Pick something you will remember. Also, since this will be the password you need to access your accounts, take the time to think of a strong one.
  • Change it periodically. It?s a good practice to reset your password every 30 or 60 days.
  • Don?t share it. No one representing Citibank will ask for your password in any way other than through the secure web form on our website. You should never give it to anyone who asks for it via email, phone or any other medium ? even if they say they are from Citibank.
  • Always sign-off. End your session properly by selecting "sign-out" and then close the browser window ? especially if you are using a computer at an internet caf? or a public place.
  • Download security updates. Most browsers and operating systems automatically notify you of security updates at launch, so you can download them right away. If you don?t want to download a patch or update immediately, make it a point to visit the company?s site as soon as you can; all have clearly marked areas where you can obtain downloads.

If you had selected a User ID and an Internet Password to access your account online but have forgotten either your User ID or Internet Password, you can retrieve these.

Please select the Forgot User ID or Password? link from the Home Page and follow the simple steps to retrieve your User ID or Internet Password.

In order to access your account online, you will need a user ID and Internet Password (IPIN). Click here to create the same. In case you had an existing user ID and IPIN, the above link may be used to retrieve the same as well.

Please note that you will need an activated debit card and ATM PIN (APIN) to be able to create an IPIN. In order to create the same, please follow below steps:

Step 1: Request a Citi Debit Card: To request for a debit card for the first time, please access the debit card issuance form here

To re-issue a debit card, please call CitiPhones at 1860 210 2484 or +91 22 4955 2484 (from outside India)

Step 2: Activate your Card: SMS ACT <Space> last 4 digits of your card number to +919880752484 from your registered mobile number or call 24x7 CitiPhone, enter your new card number and follow the steps on IVR to activate your card.

Step 3: Self-Select your APIN: Call 24x7 CitiPhone and follow the instructions on IVR.

Yes.If you have a exiting deposit account you can open a new term deposit account, following either of the below steps:

1. Login to your account, click on the banking tab, click on book deposits and follow the on-screen instructions

Login to your account on Citibank Online, complete a Deposit Application Form and scan and upload this application online. Click here to learn how to submit documents online.

You can also mail the completed form to Mail Room address,

Kindly note,if your country of residence is other than US, UK, UAE, Singapore, Bahrain, Canada, Thailand and Philippines, then forms has to be submitted in person at any Citibank branch in India . Please remember that all Account holders on the account need to sign this instruction.

For our mutual protection, our representatives from India may call you on the registered contact numbers on your account to confirm your request prior to executing the instructions. If you have not updated your contact information and we are unable to confirm your request, execution of your instruction may be delayed. Please ensure that your contact information is updated on our records at all times.

In order to request a new APIN for your NR Account, please follow either of the following steps:

  1. Login to Citibank online and follow these two simple steps.
    • the Banking Tab.
    • Select “Generate ATM PIN” and follow on-screen instructions.
  2. Call 24x7 CitiPhone and follow the instructions on IVR.

Enter Debit Card Number -> Validate your identity -> Select PIN services -> Select the ATM PIN self-select optionS.

Citibank India offers you a range of useful tools to monitor, manage and operate your account from the comfort of your home and office. Click here for comprehensive details of all features available to you online.

Citi Mobile Banking (MBOL) is available for download for NRI Clients on the Apple App Store and Google Play Store in the US, UK, Australia, Singapore and UAE. Please click here to download MBOL if you are present in any of the mentioned countries.

You will need your Citibank Online (CBOL) User ID and Internet Password (IPIN) in order to login. In case you do not have/have forgotten the same, you can self-select the same on the MBOL app.

Please note that you will need an activated debit card and ATM PIN (APIN) to be able to create an IPIN. In order to create the same, please follow below steps:

Step 1: Activate your Card: SMS ACT <Space> last 4 digits of your card number to +919880752484 from your registered mobile number or call 24x7 CitiPhone, enter your new card number and follow the steps on IVR to activate your card.

Step 2: Self-Select your IPIN: Call 24x7 CitiPhone and follow the instructions on IVR.

Account Opening

Any person of Indian origin and living overseas can open a NRI Account with Citibank. The Reserve Bank of India does not allow resident Indians to open NRI Accounts. Further, if your residency status changes from a resident Indian to a Non-Resident Indian, you will need to convert your domestic account to a NRI Account.

Non-Resident Indians or Persons of Indian Origin include:

  • Indian passport holder living overseas with a valid visa (permanent resident card or valid work visa)
  • Foreign passport holder, born in India
  • Foreign passport holder with a valid Overseas Citizen of India Card or Person of Indian Origin Card
  • Foreign passport holder with any parent or grandparent born in India
  • Foreign passport holder with spouse?s parents or grandparents born in India

We currently offer online Account Opening for customers residing in the United States.

For customer residing in (Bahrain, Germany, Indonesia, Netherlands, Philippines, Qatar, Singapore, Switzerland, Thailand, United Arab Emirates, and United Kingdom) please apply for an account at www.citinri.com

You can also visit any Citibank branch in India to open this account in person.

Please visit Apply for a NRI Account link form the Home Page and select your country of residence. The list of documents required to open a NRI Account with Citibank is detailed based on your selection. You can also chat with our representatives at any time of the day or night and they will be glad to assist you with account opening or providing more details.

If you are visiting any Citibank branch in India to open this account in person, you will need to complete a NRI Account Opening Form. You will also need to carry original copies of the following documents for each applicant on the account for our representatives to verify:

Attach the following documents for each applicant

  1. One passport size color photograph And
  2. Copy of Passport

    • i. Indian passport & proof of legal status in country of residence, please attach signed photocopies of:
      1. Passport pages containing photograph, personal details, &
      2. Valid visa or Permanent Resident Card. Please Note: Singapore residents also need to submit photocopy of NRIC or Employment Pass or Dependent Pass or Work Permit.
    • Or ii. Foreign Passport & Proof of Indian Origin, please attach signed photocopies of:
      1. Foreign Passport pages containing photograph and personal details
      2. ANY ONE of the following documents, in case of Foreign Passport Holders (born outside India)
      3. Person of Indian Origin (PIO) Card or Overseas Citizen of India (OCI) Card for you or for your spouse or any of your / spouse's parents / grandparents
      4. Copy of Indian Passport held at any time by you or your spouse or any of your / spouse's parents / grandparents
      5. Official documentation issued by the Indian Government (Birth Certificate) indicating place of birth as India for you or for your spouse or any of your/spouse's parents/grandparents
  • Proof of Address:

    Please attach signed photocopies of ANY of the following documents mentioning your one of the address:

    • Valid Passport with address page
    • Valid Driving License with address page
    • Documents issued by Government departments of foreign jurisdictions (For foreign Passport holder only)
    • Letter issued by Foreign Embassy/Mission in India (For foreign Passport holder only)

    You may submit the below list of documents for your India address:

    • Aadhaar Card issued by Unique Identification Authority of India
    • Voter ID card issued by issued by Election Commission of India
    • Letter issued by the National Population Register containing details of name and address

    Please note that Aadhaar is not a mandatory required document and customers have the option to submit any one of the above documents. By submitting a copy of your Aadhaar Card to Citibank, you confirm and agree that the Bank has duly explained to you that submission of Aadhaar Card is no longer mandatory and you are providing your Aadhaar card as an officially valid document proof to Citibank voluntarily. You hereby authorize Citibank to collect, store and use your Aadhaar as proof of address/KYC document in accordance with extant rules and regulations. In case you are submitting/uploading copy of your Aadhaar card, please ensure before submitting/uploading to blacken out the Aadhaar number on the Aadhaar card so that it is not visible.

  • Kindly note, we would mandatorily require a proof for your Foreign address. In case you do not have any of the above proofs for your foreign address, then you can submit:

    1. Any one of the above mentioned address proof documents containing a valid address for your permanent/alternate address
    2. Any one of below list of address proofs for your foreign address :

        1. Utility bill not more than two months old of any service provider (electricity, telephone, post-paid mobile phone, piped gas, water bill);
        2. Property or Municipal tax receipt;
        3. Pension or family pension payment orders (PPOs) issued to retired employees by Government Departments or Public Sector Undertakings, if they contain the address;
        4. Letter of allotment of accommodation from employer issued by State Government or Central Government Departments, statutory or regulatory bodies, public sector undertakings, scheduled commercial banks, financial institutions and listed companies and leave & license agreements with such employers allotting official accommodation.
    View all Articles   

    Yes. You can open a Rupee Checking account or Term Deposit Accounts for a minor. However, a Guardian must be a Joint Applicant on the account.The guardian should have an existing account or should open new account in his name prior to opening the account of the minor. Both the minor as the Primary Applicant and the Guardian as the Joint Applicant must complete the NRI Account Opening Form and provide the relevant documents required for account opening.

    When the minor attains the legal age of 18 years, the account needs to be converted from a minor account to a regular account. We will write to you and inform you to provide documentation and convert this account when the minor attains the legal age.

    Transactional Accounts: A Rupee Checking Account is a transactional account that allows you to deposit or withdraw funds in the account based on your needs. We offer two types of Rupee Checking Accounts; Non-Resident External and Non-Resident Ordinary. You can choose the type of account depending on whether the source of funds into this account is from India or overseas and based on your need for this account.

    The table below will help you understand the difference between these accounts better:

      Non-Resident External Deposit (NRE) Non-Resident Ordinary Deposit (NRO)
    Purpose of the Account Both NRE & NRO are rupee denominated accounts to help you manage your financial obligations in India. You can use these funds to withdraw from ATMs in India, write checks to pay for your expenses, invest in real estate or to support your family.
    Currency of Account Balances in the Account are held in Indian Rupees
    Rate of Interest 3.5% p.a. 3.5% p.a.
    Specific need Addressed by the Account Savings in India from the income earned or savings by NRI overseas Savings in India from the income earned in India (examples are rental income, sale of property, inheritance, savings before leaving India). This account is required if you were living in India and moved overseas and would like to transfer your savings in India to your overseas bank Account.
    Funding the Account The account can be funded through:
    • Foreign Currency Remittances from overseas
    • Funds from any other FCNR or NRE Account in any bank in India
    The account can be funded through:
    • Any legitimate income from India
    • Funds from any other NRO or NRE Account in any bank in India
    • Foreign Currency Remittances from overseas

    Please note that the transfer from NRO Accounts to NRE is not allowed.

    Tax The interest earned on this account is exempt from tax in India. However, the interest earned may be subject to tax in your country of residence.

    Please speak to your Tax Consultant for tax obligations in your country of residence.
    The interest earned on this account is taxable in India. Tax is currently deducted at source at 30% + CESS when the interest accrues on your deposit.(1)

    In addition to the interest taxed in India, the interest earned may also be subject to tax in your country of residence.

    Please speak to your Tax Consultant for tax obligations in your country of residence.
    Joint Account Holder You can add Non-Resident Indians as Joint Account Holders.

    You can add both Resident Indians as well as Non-Resident Indians as Joint Account Holders.
    Mandate Holders An individual resident in India can authorized to operate the account on behalf of the account holder.
    Repatriation Repatriation can be done easily for both principle and interest earned.

    If you wish to Repatriate funds, we only require written instructions with the wire details for executing this Repatriation.
    Repatriation needs to be in adherence to the guidelines of the Reserve Bank of India and is limited to equivalent of USM 1 million per year for all qualified balances.

    Additionally, you will need to provide documents as per the guidelines issued by the Reserve Bank of India depending on the source of the funds in the account.

    Term Deposit Accounts: We offer three types of Term Deposit Accounts; Foreign Currency Non-Resident, Non-Resident External & Non-Resident Ordinary. You can choose the type of deposit account depending on whether the source of funds into this account is from India or overseas and based on your need for this account.

    The table below will help you understand the difference between these accounts better:

    India Deposit Products Foreign Currency Non-Resident Deposit (FCNR) Non-Resident External Deposit (NRE) Non-Resident Ordinary Deposit (NRO)
    Currencies You can choose from 6 currencies:
    • US Dollar
    • British Pound
    • Euro
    • Japanese Yen
    • Australian Dollar
    • Canadian Dollar
    NRE Deposits are in Indian Rupees only.
    If you remit funds in Foreign Currency, these funds are converted on Indian Rupees at the prevailing exchange rate as on the date of the transfer prior to deposit booking.
    NRO Deposits are in Indian Rupees only.
    If you remit funds in Foreign Currency, these funds are converted on Indian Rupees at the prevailing exchange rate as on the date of the transfer prior to deposit booking.
    Minimum Deposit USD 2,000 or equivalent. INR 80,000. INR 80,000.
    Tenure of Deposit Tenures available range from 1 year to 5 years. Tenures available range from 1 year to 5 years. Tenures available range from 7 days to 5 years.
    Interest Computation Interest is computed using a fixed rate. Interest is computed using a fixed rate.
    You can choose between Simple or Compound Interest.
    Interest is computed using a fixed rate.
    You can choose between Simple or Compound Interest.
    Interest Payment Interest is accrued monthly and is paid on maturity.
    Interest is compounded every 180 days.
    Interest is accrued monthly.
    In case of Compound Interest, interest is compounded every 90 days and paid on maturity.
    In case of Simple Interest, interest is paid quarterly.
    Interest is accrued monthly.
    In case of Compound Interest, interest is compounded every 90 days and paid on maturity.
    In case of Simple Interest, interest is paid quarterly.
    Deposit Renewal Deposit is automatically renewed for same tenure as original deposit at interest rate applicable as on date of renewal.
    If you wish to change renewal instructions, please provide written instructions at least 2 weeks
    (14 days) notice to your nearest Citibank NRI Business Center.
    Tax The interest earned on this account is exempt from tax in India. However, the interest earned may be subject to tax in your country of residence.
    Please speak to your Tax Consultant for tax obligations in your country of residence.
    The interest earned on this account is exempt from tax in India. However, the interest earned may be subject to tax in your country of residence.
    Please speak to your Tax Consultant for tax obligations in your country of residence.
    The interest earned on this account is taxable in India. Tax is currently deducted at source at 30% + CESS when the interest accrues on your deposit.(1)
    In addition to the interest taxed in India, the interest earned may also be subject to tax in your country of residence.
    Please speak to your Tax Consultant for tax obligations in your country of residence.
    Joint Account Holder You can add Non-Resident Indians as Joint Account Holders.
    You can add Non-Resident Indians as Joint Account Holders.
    You can add Non-Resident Indians as Joint Account Holders.
    Funding the Account The account can be funded through:
    • Foreign Currency Remittances from overseas
    • Funds from any other FCNR or NRE Account in any bank in India
    The account can be funded through:
    • Foreign Currency Remittances from overseas
    • Funds from any other FCNR or NRE Account in any bank in India
    The account can be funded through:
    • Any legitimate income from India
    • Funds from any other NRO or NRE Account in any bank in India
    • Foreign Currency Remittances from overseas
    Repatriation Repatriation can be done easily for both principle and interest earned.
    If you wish to Repatriate funds, we only require written instructions with the wire details for executing this Repatriation.
    Repatriation can be done easily for both principle and interest earned.
    If you wish to Repatriate funds, we only require written instructions with the wire details for executing this Repatriation.
    Repatriation needs to be in adherence to the guidelines of the Reserve Bank of India and is limited to equivalent of USD 1 million per year for all qualified balances.
    Additionally, you will need to provide documents as per the guidelines issued by the Reserve Bank of India depending on the source of the funds in the account.

    It will take approximately 30-45 minutes to complete the Account Opening Form online. If we are able to verify your personal details provided online, you will get an Account Number almost immediately. This facility is only available for customers based out of US.

    However, you will need to follow the guidelines detailed in the Apply For a NRI Account pages and send us a printed and signed copy of the Account Opening Form and all the relevant documentation to Citibank Mail Room address. Once we receive all your documents, your Account will get activated and will be ready for use approximately within 3-4 business days.

    To avoid delays in account opening, please ensure that you complete all details in the Account Opening Form correctly and attach the relevant documents.

    If you have submitted an NRI Account Opening Form at any Citibank branch in India, your account will be opened approximately within 4-5 business days from the time we receive the complete set of Account Opening Forms and all the relevant documents required to open this account.

    Once your account is open, we will send the Debit Card, Cheque Books for your Rupee Checking Account and Account Opening Kit from India to the registered mailing address on your Account Opening Form. These will reach you approximately 7-10 business days from the date of account opening. Please note that for your protection, the Debit Card is couriered to your registered mailing address and if the addressee is not available, the courier company may return the Debit Card as addressee unavailable if you are not available at this address to receive the consignment.

    Once you have received your debit card, please follow below simple steps to activate your debit card and generate your ATM PIN (APIN)

    Step 1: Activate your Card: SMS ACT <Space> last 4 digits of your card number to +919880752484 from your registered mobile number or call 24x7 CitiPhone, enter your new card number and follow the steps on IVR to activate your card

    Step 2: Self Select your IPIN: Call 24x7 CitiPhone and follow the instructions on IVR

    Enter Debit Card Number -> Validate your identity -> Select PIN services -> Select the ATM PIN self-select option

    Permanent Account Number (PAN) is recommended for all bank accounts in India and is required for many financial transactions within India (such as purchase or sale of properties, repatriation of funds, filing income tax returns etc).

    PAN is required for both Non-Resident Ordinary Accounts and Non- Resident External Accounts. If you do not have a Permanent Account Number, you can complete Form 60 in the Account Opening Form. If you do not have a Permanent Account Number yet, we recommend that you apply for one and update the records with us as soon you get one.

    If you do not provide us with a Permanent Account Number, you will not receive Tax Deducted at Source (TDS) certificates in Form 16 for the taxes deducted at source on your Non-Resident Ordinary accounts (both Rupee Checking Account as well as Term Deposits).

    If you hold a domestic Citibank Account or a Citibank Suvidha Account with Citibank in India, you will need to convert this account to a Non-Resident Ordinary Account.

    As per the current guidelines of the Reserve Bank of India, when a Resident Indian leaves India to any country overseas (other than Nepal or Bhutan), for employment, business or immigration, the Resident Indian is treated as a Non-Resident Indian and the bank account in India needs to be designated as a Non-Resident Ordinary Account.

    To convert your domestic Citibank Account or Citibank Suvidha Account to a Non-Resident Ordinary Account, you will need to complete a new NRI Account Opening Form, attach all the relevant documents required to open a new NRI Account. Please contact your Citibank branch in India prior to relocation or your nearest NRI Service Center in your country of residence once you relocate.

    Converting domestic Citibank Account or Citibank Suvidha Account to a Non-Resident Ordinary Account will impact the following:

    Description Changes
    Account Number & Branch No change
    Interest rate on Savings Account No change
    Home Loan Payments and other Standing Instructions from your Citibank Account or Citibank Suvidha Account No change
    Cheque Book Existing Cheques will be valid. However, we will issue you a new Cheque Book for your new Non-Resident Ordinary Rupee Checking Account. If you choose to open a Non-Resident External Rupee Checking Account, you will get a separate Cheque Book for that account as well.
    Tax Deduction at Source (TDS) Interest earned on Non-Resident Ordinary accounts is taxable in India and subject to Tax Deduction at Source.
    Deposits Your deposit accounts will be closed upon conversion of your residency status. Principal and interest (if applicable) will be credited to your Citibank account or Citibank Suvidha Account prior to conversion to a Non-Resident Ordinary Rupee Checking Account.
    Citibank Money Multiplier Account This account will be closed upon conversion of your residency status. Balances, if any, will be credited to your Citibank account or Citibank Suvidha Account prior to conversion to a Non-Resident Ordinary Rupee Checking Account.
    Employee Reimbursement Account This account will be closed upon conversion of your residency status. Balances, if any, will be credited to your Citibank account or Citibank Suvidha Account prior to conversion to a Non-Resident Ordinary Rupee Checking Account.
    ATM/Debit Card Your ATM/Debit Cards for your Citibank Account or Citibank Suvidha Account will be cancelled and no longer valid. We will issue a new Debit Card for your Non-Resident Ordinary Rupee Checking Account for each applicant on the account upon account opening. You can use this Debit Card to access your account, withdraw cash or pay for purchases in India only.
    If you choose to open a Non-Resident External Rupee Checking Account, we will issue a separate Debit Card for each applicant on the account for your Non-Resident External Rupee Checking Account. You can use this Debit Card to access your account, withdraw cash or pay for purchases anywhere in the world.
    Citibank Credit Cards You will need to pay off the Total Balance on your Citibank Credit Cards and upon clearing the dues; your Credit Cards will be cancelled. You can use the funds available in your Citibank Account or Citibank Suvidha Account to pay off your Credit Card balances, as per the terms and conditions of your Citibank Credit Cards.
    Citibank Personal Loans You will need to pay off the Total Balance on your Citibank Personal Loans including all pre-termination fees. You can use the funds available in your Citibank Account or Citibank Suvidha Account to pay off Loan balances and dues, as per the terms and conditions of your Citibank Personal Loans.
    Overdraft Facility The Overdraft Facility on your Citibank Account or Citibank Suvidha Account will be closed. You can use the funds available in your Citibank Account or Citibank Suvidha Account to clear the Overdraft amounts, as per the terms and conditions of your Overdraft facility. Overdraft Facilities are not available with your Non-Resident Ordinary Account.
    Mandate Account Your mandate associated with your Citibank Account or Citibank Suvidha Account will be closed.
    If you wish to add a Mandate to your Non-Resident Ordinary Account, please complete a Mandate Application Form. Please note that we will require the Mandate to sign this form and also provide identification documents, proof of address and a passport size colour photograph.
    India Mutual Funds Your India Mutual Funds will either be converted to a Non-Resident Ordinary Status, or blocked from future transactions or will have to be redeemed prior to relocation based on your country of residence and the funds that you currently hold.
    Please speak to your Relationship Manager at the Citibank branch in India for more details.
    DEMAT Account You would need to close your DEMAT Account prior to conversion to a Non-Resident Ordinary Rupee Checking Account.

    For your Rupee Checking Accounts (both Non-Resident External and Non-Resident Ordinary), you will receive a monthly statement for each month if you have transactions in your account. If you do not have any transactions in your account, you will not receive a statement for that month. If there are no transactions in your Rupee Checking Account, you will receive a statement at least once in a calendar year.

    All statements are sent to your registered mailing address on our records. If you have signed up to receive statements electronically, eStatements will be sent to your registered email address.

    If you have Rupee Checking Accounts as well as Term Deposits, in addition to the statement for your Rupee Checking Accounts, you will receive a consolidated statement for your Rupee Checking Account as well as Term Deposits once every year. Citigold customers with both Rupee Checking Accounts as well as Term Deposits will receive a consolidated statement once every quarter.

    Joint Accounts

    To add a Joint Account holder, the Joint Applicant needs to submit the same documentation required for a new Account. Please have the Joint Applicant complete the New Account Opening Form and submit the relevant documents along with notarized address and id proof.

    Please mail the completed Account Opening Form along with the relevant documents to the Mail Room address. You can also visit any Citibank branch in India to hand over this form in person, along with the Joint Applicant. Please remember to carry all the original documents applicable to the Joint Applicant for our representatives to verify and assist with the addition of the Joint Account Holder.

    For our mutual protection, our representatives from India may call you on the registered contact numbers on your account to confirm your request prior to executing the instructions. If you have not updated your contact information and we are unable to confirm your request, execution of your instruction may be delayed. Please ensure that your contact information is updated on our records at all times.

    To remove a Joint Account Holder from the account, we will require written instructions detailing the Account Number, Names of the Joint Account Holder to be removed from the account requesting us to remove the Joint Applicant from the Account. This letter will need to be signed by all Account Holders on the account.

    Please mail this letter to the NRI Service Center in your country of residence or to Mail Room address. You can also visit any Citibank branch in India to hand over this letter in person.

    For our mutual protection, our representatives from India may call you on the registered contact numbers on your account to confirm your request prior to executing the instructions. If you have not updated your contact information and we are unable to confirm your request, execution of your instruction may be delayed. Please ensure that your contact information is updated on our records at all times.

    Nominee for NRI Accounts

    To add a nominee for your account, please complete the Nomination Form: Add a Nominee.

    Please mail the completed form to Mail Room address. You can also visit any Citibank branch in India to hand over this form in person.

    For our mutual protection, our representatives from India may call you on the registered contact numbers on your account to confirm your request prior to executing the instructions. If you have not updated your contact information and we are unable to confirm your request, execution of your instruction may be delayed. Please ensure that your contact information is updated on our records at all times.

    To remove a nominee from your account, please complete the Nomination Form: Delete a Nominee.

    Please mail the completed form to Mail Room address. You can also visit any Citibank branch in India to hand over this form in person.

    For our mutual protection, our representatives from India may call you on the registered contact numbers on your account to confirm your request prior to executing the instructions. If you have not updated your contact information and we are unable to confirm your request, execution of your instruction may be delayed. Please ensure that your contact information is updated on our records at all times.

    To change a nominee for your account, please complete the Nomination Form: Modify a Nominee.

    Please mail the completed form to Mail Room address. You can also visit any Citibank branch in India to hand over this form in person.

    For our mutual protection, our representatives from India may call you on the registered contact numbers on your account to confirm your request prior to executing the instructions. If you have not updated your contact information and we are unable to confirm your request, execution of your instruction may be delayed. Please ensure that your contact information is updated on our records at all times.

    Rupee Checking Account

    The fees and charges for a Rupee Checking Account vary depending on the category of the account that you maintain. Citigold and Preferred customers enjoy preferential fees and services.

    Please check the Schedule of Fees & Charges for details of the fees and charges for each category.

    You are required to maintain an average monthly minimum relationship balance of INR 40,000 across all your accounts to avoid paying a monthly service fee.

    Further, to maintain your Citigold or Preferred account category status, you are also required to maintain an average monthly minimum relationship balance of the equivalent of $100,000 for Citigold and INR 2, 00,000 for Preferred.

    Average Monthly Relationship balance is a reflection of your total relationship across all products that you hold with Citibank. The illustration below will help you understand how we calculate Average Monthly Relationship Balance.

    Average Monthly Relationship Balance Illustration
    Qualifying Products Balance Average Monthly Relationship (INR) Description
    a. Savings & Current Accounts 25,000 Average daily balance of the calendar month, calculated based on the total of daily end of day balance divided by total number of days in the month.
    b. Fixed Deposits(FCNR(B), NRE & NRO Deposits) 200,000 Average daily balance of the calendar month, calculated based on the total of daily end of day balance divided by total number of days in the month.
    c. Domestic Mutual Funds 50,000 Average daily balance of the calendar month, calculated based on the total of daily end of day balance divided by total number of days in the month.
    d. DEMAT Balance 100,000 The market rate is variable and is taken as the value at the time of the computation of the RB for the month. The computation is done on a date determioned by the bank before the last working day of the month.
    e. Insurance Premium 10,000 Sum of total premium paid till date towards active life insurance policies with the account holder as proposer.
    f. Home Loan 500,000 Outstanding principal amount.
    Average Monthly Relationship Balance from Qualifying Products 810,000 a+b+c+25% X (d+e+f)

    Please Note: Certain products may not be available for customers in select geographies.

    View all Articles   

    Yes. You will get a cheque book for your Rupee Checking Account. The cheque book is sent to you along with your Account Opening Kit and Debit Card to your registered mailing address. If you open both a Non-Resident External Rupee Checking Account as well as a Non-Resident Ordinary Rupee Checking Account, you will get one cheque book for each account.

    Since funds held in both Non-Resident External and Non-Resident Ordinary Rupee Checking Accounts are in Indian Rupees, you can issues cheques only in Indian Rupees from these accounts.

    You can login to your account online and place a request for cheque book re-order. You can also call CitiPhone and request for a new Cheque Book to be mailed to your registered mailing adress.

    Cheque book re-orders are currently free for Citigold and Preferred customers. Please refer to the Schedule of Fees & Charges for details on the fees for a cheque book re-order.

    Please complete the Account Closure Request Form

    If you have a single holder on your account, you can upload this instruction online under the option “Request closure of Accounts”. Please click here to learn how to submit documents online

    For joint account please mail this form to Mail Room address. You can also visit any Citibank branch in India to hand over this form in person. Please remember that all holders on the account need to sign this form.

    For our mutual protection, our representatives from India may call you on the registered contact numbers on your account to confirm your request prior to executing the instructions. If you have not updated your contact information and we are unable to confirm your request, execution of your instruction may be delayed. Please ensure that your contact information is updated on our records at all times.

    In order to link your accounts, we request you to send/submit a signed written instruction to any Citibank branches/mailroom address in India.

    Please note, linking of accounts is possible only when the details are the same in all the accounts to be linked.

    To add a Mandate, we require the completed Mandate Application Form along with the required documents and the same to be sent to the Citibank Mail Room address. You can download the form using the below mentioned URL,

    https://www.online.citibank.co.in/citi-nri/pdf/mandate-application-form.pdf

    Please ensure that the application form is signed by both the account holder (self) as well as the Mandate.

    Note: Mobile number of the mandate is mandatory.

    To remove a mandate from your account, we request you to submit a written instruction at the nearest branch or dispatch the same to Citibank Mail Room address.

    Please ensure that the letter instruction is signed by both the account holder (self) as well as the Mandate.

    You are requested to Log in to Citibank Online with your IPIN and request for signature change.

    No. In order to transact once again on your dormant account you need to activate your account. We require you to provide us with a written instruction mentioning your 10 digit account number along with valid identity proof, address proof and a fund transfer form*. You can download the fund transfer form from the below link.

    https://www.online.citibank.co.in/citi-nri/customer-service.htm

    *Fund transfer form – To activate your account it is mandatory to perform a transaction.

    Kindly note, online transfer of funds from NRE account to NRO account is not possible.

    You can either mail these documents to the Mail Room address or visit your nearest Citibank branch in India to hand over these documents in person.

    In order to update your PAN, please follow either of the following steps :

    • login to Citibank online and submit the same using the ‘Update Permanent Account Number (PAN) details’. Click here to view how to upload documents online.
    • Send us your self attested Pan copy mentioning your 10 digit account number to submitdocs@citi.com from your registered email ID.

    Alternatively, you can also send us a written instruction along with the PAN copy (self-attested) to the Citibank Mail Room address for us to do the needful.

    To update your passport details, please login to Citibank online and submit the same using the ‘Update Passport Details’. Click here to view how to upload documents online.

    You can also send/submit a signed written instruction along with the self attested copy of the Passport to the Citibank Mail Room address.

    To update your Date of Birth details in our records, please send/submit a signed written instruction along with the self-attested copy of a valid proof of DOB to the Citibank Mail Room address.

    For our mutual protection, our representatives from India may call you on the registered contact numbers on your account to confirm your request prior to executing the instructions. If you have not updated your contact information and we are unable to confirm your request, execution of your instruction may be delayed. Please ensure that your contact information is updated in our records at all times.

    To update your name in your account, we request you to provide us with the written instruction in original, requesting to change existing name in the system with the new one along with your self-attested copies of valid Proof of the existing name and the new name propose. You may send these documents to Citibank Mail Room address.

    Term Deposits

    For your convenience, if you have chosen the automatic rollover option when the original deposit was booked, then you do not have to do anything. Your deposits will be automatically rolled over for the same tenure as the original deposit, at the prevailing interest rate at the time of the roll over.

    You will also receive a maturity alert approximately 14 days prior to maturity of the deposit. If you wish to change the tenure or the amount and rebook the deposit, please complete the Deposit Application form for existing customers and mail it to the NRI Service Center in your country of residence or to Mail Room address. You can also visit any Citibank branch in India to hand over this form in person. Please remember that all Account Holders on the account need to sign this instruction.

    If you wish to terminate this deposit on maturity, please complete the Fund Transfers Request Form. You can mail the completed form to the NRI Service Center in your country of residence or to Mail Room address. You can also visit any Citibank branch in India to hand over this form in person. Please remember that all Account Holder on the account need to sign this instruction.

    For our mutual protection, our representatives from India may call you on the registered contact numbers on your account to confirm your request prior to executing the instructions. If you have not updated your contact information and we are unable to confirm your request, execution of your instruction may be delayed. Please ensure that your contact information is updated on our records at all times.

    Withdrawal of any Term Deposit prior to the original maturity date is called pre-termination. You can pre-terminate a deposit at any time. However, if you pre-terminate a deposit before the minimum tenure of the deposit, then no interest will be paid. The minimum tenure for Non-Resident External Deposits and Foreign Currency Non-Resident Deposits is 1 year and the minimum tenure for Non-Resident Ordinary Deposits is 7 days.

    If you pre-terminate a Term Deposit in full, after you complete the minimum tenure of the deposit, you will earn interest on the deposit.

    The interest rate paid on the withdrawn amount will be either:

    • The interest rate at the time of original deposit booking OR
    • The applicable rate of interest for the new tenure and amount on the date of pre-mature withdrawal
    • The lower interest rate between the above mentioned interest rates, less a penalty of 1% will apply

    If you pre-terminate a Term Deposit partially, the original deposit is treated as two deposits ? one is the amount withdrawn and the other is the amount remaining in the deposit.

    The interest rate paid on the withdrawn amount will be either:

    • The interest rate at the time of original deposit booking OR
    • The applicable rate of interest for the new tenure and amount on the date of pre-mature withdrawal
    • The lower interest rate between the above mentioned interest rates, less a penalty of 1% will apply

    The Interest rate applicable on the remaining amount will be:

    • The applicable interest rate for this amount and tenure of original deposit
    • This rate may be the same as the original deposit or lower depending on the interest rates across tenures and amounts when the original deposit was booked

    Please see illustration below for the interest paid on partial pre-mature withdrawals.

    Illustration of interest paid in case of pre-termination prior to original maturity date, but after the minimum tenure of a deposit:
    Original Deposit
    Original Principal Amount INR 100,000
    Original booking date June 1 2011
    Original maturity date May 31 2013
    Original tenure (days) 730
    Original Interest rate 9%
    Maturity Amount INR 118,810
    Deposit Pre-Maturely Withdrawn Deposit Remaining
    Amount withdrawn pre-maturely INR 60000 -
    Amount remaining - INR 40000
    Original booking date June 1 2011 June 1 2011
    Pre-mature withdrawal date May 31 2012 -
    Maturity date of Deposit Remaining - May 31 2013
    Pre-mature withdrawal tenure (days) 365 -
    Remaining Deposit tenure (days) - 730
    Applicable interest rate on date of Withdrawal 8% -
    Pre-Payment Penalty 1% -
    Applicable interest rate on Remaining Deposit - 8%
    Effective interest rate 7% 8%
    Revised Amount (Paid out or Balance) INR 64200 INR 46656

    Please note that the amounts in the above illustration may vary if Tax Deduction at Source (TDS) is applicable.

    View all Articles   

    Yes. All you need to do is login to your account on Citibank Online, complete a Deposit Application Form and scan and uplaod this application online.

    You can also mail the completed form to the NRI Service Center in your country of residence or to Mail Room address. You can also visit any Citibank branch in India. Please remember that all Account Holders on the account need to sign this instruction.

    For our mutual protection, our representatives from India may call you on the registered contact numbers on your account to confirm your request prior to executing the instructions. If you have not updated your contact information and we are unable to confirm your request, execution of your instruction may be delayed. Please ensure that your contact information is updated on our records at all times.

    Please complete the Account Closure Request Form

    If you have a single holder on your account, you can upload this instruction online under the option “Close Deposit Account”. Please click here to learn how to submit documents online

    For joint accounts, please mail this form to the Mail Room address. You can also visit any Citibank branch in India to hand over this form in person. Please remember that all holders on the account need to sign this form.

    For our mutual protection, our representatives from India may call you on the registered contact numbers on your account to confirm your request prior to executing the instructions. If you have not updated your contact information and we are unable to confirm your request, execution of your instruction may be delayed. Please ensure that your contact information is updated on our records at all times.

    Change of Address

    You may submit a request for change of address by following below mentioned steps:

    1. Upload documents by logging on to Citibank online.

      (Click here to know how to create your Citibank online user ID and password)

      • i. Click on Update contact details->View/Edit in the menu options on left
      • ii. Upload Address proof
        1. Choose Click here to upload your address proof
        2. Select Account and Purpose of upload as Banking - Address Proof Submission
      • iii. Select Document Type from dropdown menu as Passport/Voter ID/Driving License/Aadhaar Card

        Please Note: In order to submit other documents as proof (such as Utility bills, Document issued by foreign government, OCI), select any option in Select Document Type menu.

      • iv. Enter the OTP received on your registered mobile number and click on Validate OTP
      • v. Browse and upload the requisite document in PDF/JPG(JPEG)/PNG/TIF/GIF format with size 2MB or less, mention corresponding request in Specify Request and click on Submit
      • vi. A confirmation window will be shown.
    2. Edit your contact details

      • i. Choose your Account/relationship No from dropdown menu and click on Generate OTP
      • ii. Proceed by clicking on Click here->Authorize and enter the OTP
      • iii. Click on Edit next to Address Details and click on Next after updating the details. Please remember to update the address as in the proof document uploaded in the previous step.
      • iv. Verify the details entered and click on Confirm to proceed
      • v. A confirmation window will be shown and your request will be processed post verification within 48 hours

    A copy of any one of the following documents (Officially Valid Documents – OVD) containing a valid address can be submitted as address proof.

    1. List A – OVD proof

      1. Valid Passport with address page (Front and last page)
      2. Valid Driving License with address page (Both sides)
      3. Documents issued by Government departments of foreign jurisdictions
      4. Letter issued by Foreign Embassy/Mission in India (foreign passport holder only)
      5. Overseas Citizen of India (OCI card)

      In case you do not have any of the above OVD proofs for your address, then you can submit one of the below documents along with one of the above OVDs

    2. List B – Extended address proofs

      1. Utility bill, not more than two months old, of any service provider (electricity, telephone, post-paid mobile bill, piped gas, water bill);
      2. Property or Municipal tax receipt;
      3. Pension or family pension payment orders (PPOs) issued to retired employees by Government Departments or Public Sector Undertakings, if they contain the address;
      4. Letter of allotment of accommodation from employer issued by State Government or Central Government Departments, statutory or regulatory bodies, public sector undertakings, scheduled commercial banks, financial institutions and listed companies and leave & license agreements with such employers allotting official accommodation.
    3. Please note: – Important

      1. If you are submitting proof from the list B along with an OVD document then the address mentioned on the submitted OVD document will be updated as your permanent/alternate address and the address on the list B will be updated as your mailing address.
      2. The address on the proof should match with the address edited by you online. In case of any mismatch, the instruction will not be processed.
      3. In case you are providing more than one document, do not forget to scan all of them as one document and then upload.
      4. The uploaded document should be of size 2 MB or less in PDF/JPG (JPEG)/PNG/TIF/GIF format.

    Transfers

    You can transfer funds online from your Non-Resident External (NRE) Account or Non-Resident Ordinary (NRO) Account to a bank account in India either through the National Electronic Funds Transfer (NEFT) system or the Real Time Gross Settlement (RTGS) system. There are over 100,000 branches of banks in India that accept transfers made through the NEFT or RTGS system. Kindly note, online transfer of funds from NRO to NRE Account is not possible.

    For more details, please check Transfers to any bank account section under the Payments & Transfers page in this website.

    You can also provide us with written instructions to transfer funds from your Non-Resident External or Non-Resident Ordinary Rupee Checking Account to a bank account in India. Please complete the Funds Transfer Request Form and mail it to Citibank Mail Room address.

    There are many convenient options for you to send money from overseas to your Rupee Checking Account in India. Please read through the details of the options available in your country of residence in the Transfers from Overseas section under the Payments & Transfers page in this website to decide on the option that is most convenient for you.

    You can transfer funds from your Non-Resident External Rupee Checking Account to any bank account overseas easily. Transfer of funds from a Non-Resident Ordinary Rupee Checking Account to a bank account overseas or to a Non-Resident External Checking Account or a Foreign Currency Non-Resident Deposit Account is called repatriation and is subject to limits and documentation guidelines of the Reserve Bank of India.

    With Citibank Global Transfers, you can transfer funds from your Non-Resident External Rupee Checking Account to your Citibank Account overseas. Please read Citibank Global Transfers in Transfers from India section under the Payments & Transfers page in this website for more details.

    If you have a Non-Resident External Rupee Checking Account and any active Terms Deposits linked to this account, you can transfer funds online from your Non-Resident External Rupee Checking Account to any bank account worldwide. Please read Funds Transfers in Transfers from India section under the Payments & Transfers page in this website for more details.

    You can also complete the Funds Transfer Request Form and mail the completed form to the NRI Service Center in your country of residence or to Mail Room address. You can also visit any Citibank branch in India to hand over this form in person. Please remember that all Account Holders on the account need to sign this instruction.

    To learn more about transferring funds from your Non-Resident Ordinary Rupee Checking Account or Non-Resident Ordinary Deposits, please read Repatriation under the Payments & Transfers from India section in this website.

    View all Articles   

    Citibank currently does not charge a fee for transferring funds from your Non-Resident External Rupee Checking Account to your local bank overseas. Your local bank overseas however may charge an incoming wire fee. Please check with your local bank for details.

    A nominal fee of $30 will apply for transferring funds from your Non-Resident External or Foreign Currency Non-Resident Term Deposit Accounts with Citibank to your local bank overseas.

    Citibank also currently does not charge a fee for sending the funds as a cheque for deposit to your overseas bank account in foreign currency, to your mailing address overseas either from your Non-Resident External Rupee Checking Account or Non-Resident External or Foreign Currency Non-Resident Term Deposit Accounts.

    To initiate a transfer from your Rupee Checking Account to your local bank account, we will need the account number of your local bank account number, the name of the beneficiary bank name, address and SWIFT Code.

    If you have a Non-Resident External Rupee Checking Account and any active Terms Deposits linked to this account, you can transfer funds online from your Non-Resident External Rupee Checking Account to any bank account worldwide. Please read Funds Transfers in Transfers from India section under the Payments & Transfers page in this website for more details.

    You can also complete the Funds Transfer Request Form and mail the completed form to the NRI Service Center in your country of residence or to Mail Room address. You can also visit any Citibank branch in India to hand over this form in person. Please remember that all Account Holder on the account need to sign this instruction.

    Availability of funds in your account for remittances from overseas will depend on the channel of remittance. The table below will provide you indicative timelines for fund availability across various channels.

    Channel of remittance Date of credit to your Rupee Checking Account Fund Availability
    Citibank Global Transfers Almost immediately Available for use immediately after credit to your account.
    Wire Transfers 2 Business Days Available for use immediately after credit to your account
    Faster Payment Services 2 Business Days Available for use immediately after credit to your account
    Automated Clearing House 2-3 Business Days Available for use approximately 2 business days after credit to your account. Date of fund availability will also be disclosed in your Transfer Confirmation Alert.

    For details of the funds availability for Personal Cheques deposited to your Rupee Checking Account, please see details under Personal Cheques in Transfers from Overseas under Payments & Transfers section in this website.

    If you had requested for funds to be sent as a wire transfer from your Rupee Checking Account to your local bank account overseas, you should receive these funds normally within 2-3 Business Days in your local bank account overseas. If you do not receive the funds within 2-3 Business Days, please call CitiPhone.

    To ensure that there are no delays, please ensure that you provide complete and correct information in the Funds Transfer Request Form. Please also ensure that your contact details are always updated on our records.

    We offer preferential foreign exchange rates for Citigold and Preferred Customers. Indicative Foreign Exchange Rates that we offer for each category of customers are published on each Business Day on our website.

    For conversion of foreign currency amounts to Indian Rupees, the foreign exchange rate applicable for your transfers will be based on the account category and the applicable foreign exchange rate on which we receive the funds in India will apply. If we receive funds after banking hours, the applicable foreign exchange rates for the following Business Day will apply.

    For conversion of Indian Rupees to foreign currency, the foreign exchange rate applicable for your transfers will be based on the account category and the applicable foreign exchange rate on the day we initiate the conversion.

    Automated Clearing House (ACH) Transfers

    Automated Clearing House Transfers is a facility that we offer for customers in the United States of America to transfer funds electronically from any US bank account to the Rupee Checking Account in India.

    To learn more about this facility, please read Automated Clearing House Transfers in Transfer from Overseas in the Payment & Transfers section in this website.

    Yes. There are minimum and maximum limits for daily, fortnightly and monthly periods as well as limits to the number of transactions each month.

    To learn more about these limits, please read Automated Clearing House Transfers in Transfer from Overseas in the Payment & Transfers section in this website.

    No. We currently do not charge a fee for Automated Clearing House Transfers. When you initiate an Automated Clearing House Transfer, you will receive a pre-confirmation notice clearly detailing the transfer amount, fees, taxes if any, exchange rate and the date when your funds will be available for use.

    Citibank Global Transfers

    Citibank Global Transfers is a funds transfer facility available for Citibank Customers in select countries to send funds from their Citibank Account in their home country to another Citibank Account in another country.

    With Citibank Global Transfers, you can transfer funds either from your local Citibank Account overseas to your Rupee Checking Account or from your Non-Resident External Rupee Checking Account with Citibank India to another Citibank Account overseas.

    Citibank Global Transfers are almost instantaneous and you will be able to see the exchange rate that will be applied for your transactions, prior to completing your transfer.

    To learn more about using this facility to send funds from a Citibank Account overseas to your Rupee Checking Account, please see Citibank Global Transfers in Transfers from Overseas under the Payments & Transfers section in this website.

    To learn more about using this facility to send funds from your Non-Resident External Rupee Checking Account to your Citibank Account overseas, please see Citibank Global Transfers in Transfers from Overseas under the Payments & Transfers section in this website.

    Yes. Since Citibank Global Transfers are almost instantaneous, Citibank places limits to your transfers for your protection.

    To learn more about the limits for sending funds from a Citibank Account overseas to your Rupee Checking Account, please see Citibank Global Transfers in Transfers from Overseas under the Payments & Transfers section in this website.

    To learn more about the limits for sending funds from your Non-Resident External Rupee Checking Account to your Citibank Account overseas, please see Citibank Global Transfers in Transfers from Overseas under the Payments & Transfers section in this website.

    No. Citibank currently does not charge a fee for Citibank Global Transfers.

    Wire Transfer

    Most banks require you to provide details of your bank account, beneficiary bank?s name, address and SWIFT Code when you initiate a wire transfer from overseas to your Rupee Checking Account.

    For your convenience, we have included an International Wire Transfer Request Form in the International Wire Transfers under Transfers from Overseas page in the Payments & Transfers section in the website. All you need to do is complete this section and print before you visit your local bank to initiate the wire transfer.

    Payments

    Please login to your account and select the "Demand Drafts" link from the left navigation.

    If you want a Demand Draft in your name and to be delivered to your registered mailing address on our records, please select "DD payable to me" link.

    If you would like us to deliver a Demand Draft to any other person or to any other address, you will need to first register the beneficiary. Once you complete the beneficiary details, you will receive a One Time Authorization Code as a text message on your registered mobile phone and as an email to your registered email address. Please activate this payee. Once your payee is activated, you can order Demand Drafts to be delivered to the payee?s mailing address.

    Drafts are usually delivered within 5 business days. If the beneficiary resides in a city which is not serviced by the courier company, drafts will be sent by registered post and draft delivery may take longer.

    For your protection, you will be able to add only up to 3 payees across all your accounts in a 24 hour period.

    To cancel a Demand Draft, simply mail us the original Demand Draft with a letter asking us to cancel the instrument and for the funds to be credited back to your account. Please remember to include your Rupee Checking Account Number.

    If you do not have the original Demand Draft, please complete Demand Draft Indemnity Form and get it notarized by a public notary or attested at the Indian Embassy or Consulate in your country of residence and mail it to us.

    You can either mail the Demand Draft and letter or the Demand Draft Indemnity Form to the NRI Service Center in your country of residence or to Mail Room address. You can also visit any Citibank branch in India to hand over these documents in person.

    Please note that the Demand Draft cannot be cancelled if this has been presented or cashed by the beneficiary. So, please be sure to check with the beneficiary before you make a request for draft cancellation.

    Debit Cards

    Yes. You will need your Debit Card to access your Rupee Checking Account at ATMs and to set up your online access at Citibank Online.

    Along with your Debit Card, you will also need an ATM Personal Identification Number (PIN). Your ATM PIN will be sent separately from your Debit Card by regular mail from India and it will reach you approximately 2 weeks after your account is opened, depending on your country of residence.

    If you have selected "Yes" for a Debit Card in your Account Opening Form, you will receive your Debit Card along with your Cheque Books shortly after your account is opened. You will also receive your ATM Personal Identification Number separately in regular mail and it will reach you approximately 2 weeks after your account is opened, depending on your country of residence.

    You will need your Debit Card and ATM PINs to access your account at ATMs and to set up online access for your accounts on Citibank Online.

    Citibank does not charge a Debit Card usage fee when you use your Debit Card to make purchases at merchant establishments or to pay for online purchases. When you use your Debit Card to withdraw cash from your account at any ATM, the operator of the ATM may charge you a fee.

    With your Debit Card, the amount you spend is deducted from your Rupee Checking Account, subject to availability of funds and hence you do not pay any finance charges.

    View all Articles   

    Yes. If you have requested for both Non-Resident External and Non-Resident Ordinary Rupee Checking Accounts, you will get one Debit Card for your Non-Resident External Rupee Checking Account and another Debit Card for your Non-Resident Ordinary Rupee Checking Account.

    The reverse of the Debit Card will mention to which account this Debit Card has been issued. For example, the Debit Card for your Non-Resident External Rupee Checking Account will clearly mention "For Non-Resident External Account" on the reverse of the Debit Card.

    Further, if there are multiple account holders on the account, each Account holder will receive a Debit Card for that account.

    No. Term Deposit Accounts such as your Non-Resident External Deposit Account, Non-Resident Ordinary Deposit Account and Foreign Currency Non-Resident Deposit Account are non-transactional accounts. While you can withdraw the funds in these accounts pre-maturely, the primary purpose of these accounts is to hold the funds till maturity. Hence we do not issue Debit Cards for Term Deposit Accounts.

    Your Debit Card is valid till the last day of the month and year mentioned on the Card Validity.

    We will issue you a renewal Debit Card in the month in which your old Debit Card expires. Your new Debit Card will be valid upon the expiry of your existing card. However, please note that for our mutual protection, if your account is inactive or dormant or in any other blocked status, we will not issue you a renewal Debit Card. If you do not receive a renewal Debit Card within 30 days of expiry of your old Debit Card, please call CitiPhone.

    Effective January 2014, we are upgrading all Debit cards to a CHIP and PIN enabled debit card. As a result, some customers may get a new card number (different from your old card number) and will require a new ATM PIN. If your card number has changed, we will also automatically send you a new ATM PIN separately. However, if your old Card number was 5497XXXXXXXX1234 and your new Debit Card number will remain the same, and you can continue using your old ATM PIN.

    The Debit Card for your Non-Resident External Rupee Checking Account is valid for use anywhere in the world. You can use your Debit Card for your Non-Resident External Rupee Checking Account to access your account, withdraw cash, to pay for purchases at select MasterCard establishments around the world or for online purchases.

    You can withdraw cash from your Non-Resident External Rupee Checking Account in local currency at any ATM globally that displays these signs:

    The Debit Card for your Non-Resident Ordinary Rupee Checking Account is valid for use in India only. You can use your Debit Card for your Non-Resident Ordinary Rupee Checking Account to access your account, withdraw cash, to pay for purchases at select MasterCard establishments in India or for online purchases.

    You can withdraw cash from your Non-Resident Ordinary Rupee Checking Account in Indian Rupees at any ATM in India that displays these signs:

    Withdrawal limits will apply depending on your category of account. For details of the limits, please refer to Debit Card under Banking Services section in this website.

    If you suspect that your Debit Card is lost or stolen, please call CitiPhone immediately. To prevent fraudulent use of your Debit Card, we will block your old Debit Card and issue a new Debit Card for your use.

    Please note that you need to keep your Debit Card and the ATM PIN safe and secure at all times. You are the only person authorized to use your Debit Card and your ATM PIN. To prevent unauthorized use, please do not share your Debit Card or your ATM PIN with anyone.

    You can help prevent unauthorized access to your accounts by following these simple steps:

    • Treat your Debit Card like cash. Do not leave it where others can find it. Do not give it to anyone to hold as "security" for any reason and do not use it to show another customer how an ATM works
    • Keep your ATM Personal Identification Number used to access your account a secret. Do not share this with anyone. Do not write it on your Debit Card or keep it in your wallet or purse
    • Review your account statements periodically and let us know immediately if there are any discrepancies
    • Be sure to completely close the door when you enter or leave an ATM lobby
    • Never begin an ATM transaction if there is not enough light or you notice anything suspicious ? go to a different location or come back another time
    • If you notice anything suspicious, always cancel a transaction in progress, end your session and leave the ATM location
    • Never display cash at ATM locations. Place cash and your Citibank Card in your pocket as soon as you complete a transaction
    • Always take your ATM receipt with you when you leave ? do not leave it near the ATM
    • Immediately report crimes and suspicious activity at ATM locations to the local law enforcement officials as well as to the owners or operators of the ATM

    Effective December 2013, we have started issuing Debit Cards with CHIP and PIN enabled for enhanced security. If your Debit Card is not currently CHIP and PIN based card, we will automatically issue you one upon renewal. If you would like us to replace your old Debit Card with a CHIP and PIN based Debit Card, please login to your account and send us a request securely using the mailbox option.

    Please see the explanation below to understand how to use a CHIP and PIN based Debit Card at a point of sale terminal.

    If you have forgotten the ATM Personal Identification Number (PIN) for your Debit Card, you can call CitiPhone to request for a new ATM PIN to be issued to you. You can also login to Citibank Online and request for new ATM PINs to be mailed to your registered mailing address. You will receive your new ATM PINs in regular mail from India, approximately 2 weeks from the date of your request.

    Please remember that if you suspect that your Debit Card is lost or stolen, please call CitiPhone immediately. To prevent fraudulent use of your Debit Card, we will block your old Debit Card and issue you a new Debit Card for your use.

    Please note that you need to keep your Debit Card and the ATM PIN safe and secure at all times. You are the only person authorized to use your Debit Card and your ATM PIN. To prevent unauthorized use, please do not share your Debit Card or your ATM PIN with anyone.

    Yes. You can use the Debit Card for your Non-Resident External or Non-Resident Ordinary Rupee Checking Account to pay for online purchases in India on all websites that display these signs:

    No. With your Debit Card, the amount you spend is deducted from your Rupee Checking Account, subject to availability of funds and hence you do not pay any finance charges. All transactions on your Debit Card will automatically reflect in your monthly statement for your Rupee Checking Account.

    Repatriation

    Repatriation refers to the transfer of Indian Rupees in your Non-Resident Ordinary Rupee Checking Account or Non-Resident Ordinary Deposit either in foreign currency to your overseas account, or FCNR Deposit or transfer in Indian Rupees to your Non-Resident External (NRE) Rupee Checking Account.

    Repatriation of funds from a Non-Resident Ordinary Account is currently limited to $1 MM per financial year per account holder on the account. This limit will apply all accounts with Citibank India (Rupee Checking Account & Deposits) as well as all other financial institutions in India and is an aggregate amount across all categories of repatriation except current income.

    Please read Repatriation under the Payments & Transfers section in this website to learn more.

    Repatriation of funds from a Non-Resident Ordinary Account requires extensive documentation and stringent scrutiny of the documents presented by any Authorized dealer in foreign exchange to ensure compliance with the Foreign Exchange Management Act and the guidelines of the Reserve Bank of India.

    Please read Repatriation under the Payments & Transfers section in this website to learn more.

    If we are not satisfied with the documentation or the details provided in the documents, we reserve the right to reject your request for repatriation of funds in your Non-Resident ordinary Account to your overseas account or to your Non-Resident External or Foreign Currency Non-Resident Accounts.

    Permanent Account Number (PAN)

    Permanent Account Number (PAN) is recommended for all bank accounts in India and is required for many financial transactions within India (such as purchase or sale of properties, repatriation of funds, filing income tax returns etc).

    PAN is required for both Non-Resident Ordinary Accounts and Non- Resident External Accounts. If you do not have a Permanent Account Number, you can complete Form 60 in the Account Opening Form. If you do not have a Permanent Account Number yet, we recommend that you apply for one and update the records with us as soon you get one.

    If you do not provide us with a Permanent Account Number, you will not receive Tax Deducted at Source (TDS) certificates in Form 16 for the taxes deducted at source on your Non-Resident Ordinary accounts (both Rupee Checking Account as well as Term Deposits).

    The Permanent Account Number (PAN) is issued by the Income Tax Department in India. You can apply online for a PAN Card from anywhere. Please visit the Income Tax of India?s website to learn more about a PAN Card.

    Interest

    Yes. You earn interest at the rate of 3.5% per annum on the balances in your Rupee Checking Account. This interest is payable on both Non-Resident External as well as Non-Resident Ordinary Rupee Checking Accounts.

    Interest for Rupee Checking Accounts is calculated on an average daily balance method. The interest gets accrued on a monthly basis and is credited to your account quarterly in March, June, September and December of each year.

    As per the current regulations, interest earned on Non-Resident External (both Rupee Checking Account as well as Term Deposits) and Foreign Currency Non-Resident Deposits are not subject to tax in India. Based on your country of residence, interest earned on Non-Resident External Rupee Checking Accounts, Non-Resident External and Foreign Currency Non-Resident deposits may be subject to tax in your country of residence. Please speak with your tax consultant to understand the tax obligations in your country of residence.

    Interest earned on Non-Resident Ordinary Rupee Checking Accounts and Deposits are taxable in India. The current rate of taxes applicable on interest earned on Non-Resident Ordinary Accounts is 30% + CESS.

    For Non-Resident Ordinary Rupee Checking accounts, taxes are deducted at source (TDS) when interest is paid into your account (in March and September of each year). For Non-Resident Ordinary Deposits, taxes are deducted when interest is paid or accrued on your deposit account. If you have chosen a simple interest mandate, interest is paid quarterly and taxes are also deducted quarterly. The interest paid and taxes deducted will reflect in your account statement. If you have chosen a compound interest mandate, interest is accrued quarterly but paid upon maturity. Correspondingly, taxes are deducted quarterly on accrual and this will reduce the maturity amount accordingly.

    If you have provided a Permanent Account Number at the time of account opening for your Non-Resident Ordinary Rupee Checking Account or Deposit, we will issue a Tax Deduction at Source (TDS) Certificate in Form 16 A to assist you with filing of your tax returns in India. Form 16 A is issued on a calendar quarter basis for the taxes deducted during that quarter (April-June, July-September, October ? December and January ? March).

    Interest earned on Non-Resident Ordinary Rupee Checking Accounts and Deposits may also be subject to taxes in your country of residence. Please speak to your tax consultant to understand the tax obligations in your country of residence.

    View all Articles   

    Interest for Rupee Checking Accounts is calculated on an average daily balance method. The interest gets accrued on a monthly basis and is credited to your account on quarterly basis in March, June, September and December of each year.

    For Non-Resident External and Non-Resident Ordinary Deposits, if you have chosen a compounding interest mandate, interest will be accrued quarterly and paid upon maturity. If you have opted to roll over your deposits, the entire maturity amount (principal + interest earned) will be rolled over as a new deposit for the same tenure as the original deposit at the prevailing interest rates at the time of renewal.

    For Non-Resident External and Non-Resident Ordinary Deposits, if you have chosen a simple interest mandate, interest will be paid quarterly. The interest will be credited to the Rupee Checking Account that you had provided at the time of deposit booking.

    For Foreign Currency Non-Resident Deposits, interest will be accrued semi-annually and paid upon maturity. If you have opted to roll over your deposits, the entire maturity amount (principal + interest earned) will be rolled over as a new deposit for the same tenure as the original deposit at the prevailing interest rates at the time of renewal.

    Taxes

    As per the current regulations, interest earned on Non-Resident External (both Rupee Checking Account as well as Term Deposits) and Foreign Currency Non-Resident Deposits are not subject to tax in India. Based on your country of residence, interest earned on Non-Resident External Rupee Checking Accounts, Non-Resident External and Foreign Currency Non-Resident deposits may be subject to tax in your country of residence. Please speak with your tax consultant to understand the tax obligations in your country of residence.

    Interest earned on Non-Resident Ordinary Rupee Checking Accounts and Deposits are taxable in India. The current rate of taxes applicable on interest earned on Non-Resident Ordinary Accounts is 30% + CESS.

    For Non-Resident Ordinary Rupee Checking accounts, taxes are deducted at source (TDS) when interest is paid into your account (in March and September of each year). For Non-Resident Ordinary Deposits, taxes are deducted when interest is paid or accrued on your deposit account. If you have chosen a simple interest mandate, interest is paid quarterly and taxes are also deducted quarterly. The interest paid and taxes deducted will reflect in your account statement. If you have chosen a compound interest mandate, interest is accrued quarterly but paid upon maturity. Correspondingly, taxes are deducted quarterly on accrual and this will reduce the maturity amount accordingly.

    If you have provided a Permanent Account Number at the time of account opening for your Non-Resident Ordinary Rupee Checking Account or Deposit, we will issue a Tax Deduction at Source (TDS) Certificate in Form 16 A to assist you with filing of your tax returns in India. Form 16 A is issued on a calendar quarter basis for the taxes deducted during that quarter (April-June, July-September, October ? December and January ? March).

    Interest earned on Non-Resident Ordinary Rupee Checking Accounts and Deposits may also be subject to taxes in your country of residence. Please speak to your tax consultant to understand the tax obligations in your country of residence.

    View all Articles   

    If you have not provided a Permanent Account Number (PAN) at the time of account opening for your Non-Resident Ordinary Rupee Checking Account or Deposits, you will not get Tax Deducted at Source (TDS) certificates in Form 16 A.

    If you have acquired a Permanent Account Number (PAN) at any time after account opening, you can update your account with your PAN details and will start receiving Tax Deducted at Source (TDS) certificates in Form 16 A for subsequent quarters.

    You can login to your account and upload a copy of your PAN Card on Citibank Online. Please click here to learn how to submit documents online

    If you would like to receive the Tax Deducted at Source (TDS) certificates in Form 16 A for prior years (prior to acquiring the PAN Card and for taxes deducted on the interest earned in prior years), please send us a written request asking us to file an amendment to the interest and the TDS to reflect on your PAN Number. Please also include a signed photocopy of your PAN Card along with this letter and mail to the NRI Service Center in your country of residence or to the Mail Room address. You can also visit any Citibank branch in India to hand over this form in person.

    Double Taxation Avoidance Agreement is a bilateral agreement that the Government of India has with certain foreign countries to promote and foster economic trade and investments between these countries. The advantage under this agreement is that rate of taxes deducted on the interest earned on Non-Resident Ordinary Deposits and Non-Resident Ordinary savings account maybe lower than the normal applicable rate of taxes deducted at source.

    We currently extend benefits under Double Taxation Avoidance Agreement to customers in select countries for Tax Deducted at Source (TDS) on Non-Resident Ordinary Deposits.

    Customers who wish to avail of this benefit need to provide a letter requesting for this benefit, detailing your Non-Resident Ordinary Deposit Account Number, Tax Residency Certificate issued by the appropriate authorities in the country of residence, signed photocopy of Permanent Account Number (PAN) Card, signed photocopy of passport and a completed Form 10 F.

    Please refer to the table below to understand the benefits of Double Taxation Avoidance Agreement:

    Country Normal Rate of Tax applicable currently Rate of Tax applicable under Double Taxation Avoidance Agreement (DTAA)
    Kuwait 30% + CESS 10%
    Qatar 30% + CESS 10%
    Japan 30% + CESS 10%
    South Africa 30% + CESS 10%
    New Zealand 30% + CESS 10%
    Germany 30% + CESS 10%
    France 30% + CESS 10%
    Oman 30% + CESS 10%
    Saudi Arabia 30% + CESS 10%
    Indonesia 30% + CESS 10%
    Swiss Conf 30% + CESS 10%
    Malaysia 30% + CESS 10%
    UAE 30% + CESS 12.5%
    Canada 30% + CESS 15%
    Spain 30% + CESS 15%
    Philippines 30% + CESS 15%
    Singapore 30% + CESS 15%
    United Kingdom 30% + CESS 15%
    Kenya 30% + CESS 15%
    United States of America 30% + CESS 15%
    Australia 30% + CESS 15%
    Thailand 30% + CESS 25%

    We currently extend benefits under Double Taxation Avoidance Agreement to customers in select countries for Tax Deducted at Source (TDS) on Non-Resident Ordinary Deposits and Non-Resident Ordinary savings account. If your country of residence is a participant to Double Taxation Avoidance Agreement, you may be eligible to receive benefits under this agreement.

    If you wish to avail of this benefit, you need to provide a letter requesting for this benefit, detailing your Non-Resident Ordinary Deposit Account Number, Tax Residency Certificate issued by the appropriate authorities in the country of residence, signed photocopy of Permanent Account Number (PAN) Card, signed photocopy of passport and a completed Form 10 F. Please mail these to the NRI Service Center in your country of residence or to Mail Room address. You can also visit any Citibank branch in India to hand over this form in person.

    For our mutual protection, our representatives from India may call you on the registered contact numbers on your account to confirm your request prior to executing the instructions. If you have not updated your contact information and we are unable to confirm your request, execution of your instruction may be delayed. Please ensure that your contact information is updated on our records at all times.

    Insurance

    The deposit insurance system in India is subject to the Provisions of Deposit Insurance Act. Deposit Insurance & Credit Guarantee Corporation is the body that operates this insurance system. Your NRI accounts with Citibank India are covered by the Deposit Insurance & Credit Guarantee Corporation of India up to a maximum of INR 1,00,000 (Rupee One Lakh).

    Your NRI Accounts with Citibank India are not insured by the Federal Deposit Insurance Corporation (FDIC) of the USA, or Canadian Deposit Insurance Corporation (CDIC) or by any other insurance company or corporation outside India.

    In the event of a bank failure, the Deposit Insurance and Credit Guarantee Corporation protects bank deposits that are payable in India. The Deposit Insurance and Credit Guarantee Corporation insures all deposits such as savings, fixed, current, recurring, etc for each depositor for a maximum of INR 1,00,000 (Rupee One Lakh).

    Deposits held by a customer across different branches of a bank are aggregated for the purpose of this insurance cover and is currently a maximum of INR 1,00,000 (Rupee One Lakh) per customer.

    No. The Insurance Scheme under the Deposit Insurance and Credit Guarantee Corporation is mandatory and banks cannot withdraw from this coverage.

    Yes. The Deposit Insurance and Credit Guarantee Corporation can cancel the registration of an insured bank if it fails to pay the premium for three consecutive half-year periods. In the event that Deposit Insurance and Credit Guarantee Corporation withdraws the cover from any bank for default in the payment of premium, the public will be notified through local newspapers in India.

    In the event of the cancellation of registration of a bank, deposits of the bank remain covered by the insurance till the date of the cancellation.

    Citibank Mail Room address:

    Citibank N.A. Mail Room, Acropolis, 9th Floor, No. 148, Dr. Radhakrishnan Salai, Mylapore, Chennai – 600 004.