NRI Recurring Deposit (NRE)

CUB's NRI customers can open Recurring Deposit (RD) and enjoy big rewards.

  • Recurring Deposit can be opened for remitting fixed amount every month for a minimum period of one year and upto a maximum period of 10 years
  • Deposit can be opened jointly with a Non - Resident on Either or Survivor/Former or Survivor basis
  • Deposit can also be opened jointly with a Resident close relative on Former or Survivor basis
  • Interest earned on the account is TAX FREE
  • Principal together with interest is fully repatriable
  • NO SERVICE CHARGES for inward remittances from abroad
  • Funds can be transferred from NRE account
  • No interest is payable if deposit is preclosed before one year
  • Preclosure of deposit after one year, but, before maturity will attract penalty as per the Bank’s policy from time to time
  • Conversion of foreign currency into Indian Rupees or vice versa will attract service tax as per GoI notification
  • Loan against the security of deposit can be obtained subject to RBI guidelines and Bank’s policy in force
  • Attractive interest rates
  • Click here to download opening form
  • Click here to know current interest rate
  • Click here for Modes of remittances to remit funds
  • For queries, contact us - nri@cityunionbank.com