NRO Current Accounts


NRO Current Account


  • Remit funds easily through Quickremit, IndiaLink, Cheque LockBox, Telegraphic Transfers and Cheque / Draft
  • Deposit your Rupee earnings in the non-interest bearing Rupee account
  • Open an account jointly with an Indian resident
  • Utilise account balance for repatriable investments as well as local payments in India
  • Operate your account, anywhere, anytime with convenient banking channels
  • Transferring money to and from your account

To deposit money in your NRO Current Account, you can:

  • Transfer funds from abroad in a freely convertible foreign currency These are foreign currencies that can be exchanged easily with other currencies and are recognised by the international market. 
  • Present foreign currency notes / travellers cheques brought in by you or another NRI during a visit to India
  • Directly remit the amount to us
  • Transfer funds from an existing NRE/FCNR Account held in other banks
  • Make local payments in India
  • Documents required
  • Photocopy of the pages of the passport containing passport details and personal details of all applicants
  • Copy of valid visa / work permit
  • One passport photograph of each applicant
  • One document confirming either the overseas or Indian address. The address on the document has to match the address mentioned in the application form.

Incase, you cannot go to bank branch for account opening and you reside in a non FATF country, all photocopies of the above documents to be attested by Indian Embassy or by a Notary.

In case, you cannot go to any bank branch for account opening and you reside in a FATF country, then either all photocopies of the above documents to be attested by an Indian Embassy or Notary or by a Banker overseas.  If the documents are not certified then all documents need to be self signed and submitted along with one additional document required by the bank.

  • Eligibility
    • You are eligible if you are a non-resident individual of Indian nationality or of Indian origin.

Upon change of your status from NRI to RI, you need to inform the bank immediately.

  • NRO account can be held in Rupees only
  • NRO accounts can be held jointly with Residents
  • In case of change of status from Resident to Non-Resident, the existing Resident Account has to be designated as an NRO Account
  • FAQs


In what currency is my NRO Current Account maintained?

Your NRO Current Account is maintained in Indian Rupees.


What is the minimum amount with which I can open an NRO Current Account?

The minimum amount required to open an NRO Current Account is INR 5,000- 25,000 or its equivalent in foreign currency. You would be required to maintain an Average Quarterly Balance of INR 5,000- 25,000/- only. (minimum balance requirements varies from banks to bank)


What is the frequency of interest payment on my NRO Current Account?

No interest is payable.


What do I get against my NRO Current Account?

You will get a cheque book and an ATM Card against your NRO Current Account


What are the permissible debits/credits to the NRO Current Account?

There are no restrictions on the debits from NRO Current Account. Credit of funds representing legitimate dues of the account holder from local sources for e.g. current income in India like rent, etc. and proceeds of remittances received from abroad through normal banking channels can be freely credited.


Can I repatriate funds in my NRO Current Account?

You can repatriate up to USD 1 million, for bonafide purposes, per calendar year from balances in NRO Accounts subject to payment of applicable taxes. The limit of USD 1 million per year includes sale proceeds of immovable properties held by NRIs/PIO (Person of Indian Origin) remittance can be made if the sale proceeds have been held by the NRI/PIO for the balance period in eligible investments.   (more details about the repatriation of money abroad is provided in the later part of this guide)


Can I have joint applicant for my NRO Current Account?

Yes. You can hold the account jointly with Resident or Non-Resident Indian(s). Alternately, you can authorise an Indian Resident to operate your account by submitting a mandate letter.


If I am visiting India, can I use Travellers Cheques or foreign currency to open an account or credit my existing NRO Current Account?

Travellers Cheques can be used to credit/open the Account. If the foreign currency notes brought by you exceed USD 5,000/- or the combined value of Travellers Cheques and notes exceed USD 10,000/-, then you have to submit a Currency Declaration Form (CDF) to the customs authorities on arrival in India. You must produce the CDF for endorsement by the bank when you submit the money for opening/credit to an account.


How do I access my NRO Current Account while I am abroad?

You can access your NRO Savings Account through NetBanking and PhoneBanking

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