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Bank Deposits

Non-Resident Accounts

Welcome to today's lesson on non-resident bank accounts. These are accounts held by Indian nationals and Persons of Indian Origin residing abroad, foreign nationals, and foreign companies in India. Our bank branches have the authority to open ordinary non-resident accounts in the names of private individuals. However, there are certain conditions that must be met. The initial deposit must be received from abroad through an approved manner or in foreign currency during a visit to India. Alternatively, the funds can be transferred from the existing non-resident account of the same person. Let's dive deeper into the details.

Interest payout

A crucial aspect of investments, interest payout refers to the distribution of accumulated interest to the investor on a periodic basis. This can be in the form of quarterly...

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Annual Yield

The effective annual rate of return considers the impact of compounding interest. Its significance lies in its ability to convert diverse interest rates into a comparable an...

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Bank fixed deposits

Bank fixed deposits, also known as bank term deposits, refer to the funds collected by banks from investors for a predetermined period. This serves as a primary source of ra...

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Nomination

Account holders often receive requests from banks to make nominations, a process where they select individuals to receive the money in their accounts in case of their passin...

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