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NRO Recurring Deposit

If you are an NRI looking for an investment for your earnings in India with convenient money transfer options, then you are in the right place. Axis Bank offers the NRO Recurring deposit. The NRO Recurring deposit comes with convenient fund transfers, flexible tenure and attractive interest rates.

Features & Benefits

Transfer funds seamlessly

Fund your deposit easily - Transfer funds every month from your NRO Savings Account.

Flexible monthly instalments

Choose monthly instalments based on your requirements - Minimum instalment of ₹1,000 only; and in multiples of ₹500 thereafter.

Invest for the long term

Benefit from long-term investments - Tenure can range from 6 months to 10 years.

Attractive interest rates

Enjoy competitive rates of interest - Attractive interest rates available.

Simplified operations with nomination

Ensure easy operations with the nomination facility.

24/7 account access

Access your account anytime, anywhere - Free Internet Banking allows 24-hour access to your account from anywhere at any time.

Access Your Account Anytime

Access your account anytime, anywhere - Free Internet Banking allows 24-hour access to your account from anywhere at any time

Repatriation of funds and interest

Interest earned in the current financial year is fully repatriable (after deducting tax). Funds in NRO account can be repatriated up to USD one million per financial year for all bonafide purposes.

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Eligibility Documentation

Eligibility for NRO Recurring Deposit

The following individuals are eligible to open NRO Recurring deposit:

NRI (Non Resident Indian)
An Indian citizen residing outside India for the purpose of:

  • Employment, studies, business or vocation
  • Individual posted in UN organisation or official deputed abroad by Government of India or public sector undertakings
  • Indian nationals who may be Mariners or working on oil rigs or foreign registered airlines

PIO (Person of Indian origin)/ OCI (Overseas Citizen of India)
An individual holding a Foreign passport (other than Pakistani and Bangladeshi) who:

  • Has held an Indian passport at any point of time
  • Parent or their grandparent was Citizen of India by virtue of the Constitution of India or India Citizen Act 1955
  • Is a spouse of an Indian Citizen or spouse of PIO

Documentation for NRO Recurring Deposit

Please click here to know more about the documentation required for NRO Recurring Deposit.

Check latest Interest Rates on NRE Deposits

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