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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.

Deposit time slabs

A term deposit is an investment option offered by banks for a specified period of time. This period can range from as short as 14 days to as long as 5 years. As a depositor,...

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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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Demand deposits

Deposit refers to the money that a bank receives from a customer, which can be withdrawn at any time by the customer. In banking terms, this is known as a demand deposit, as...

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Savings bank account

's deposits Let's discuss a financial term that may seem commonplace but holds significant importance in the world of banking and finance - the savings account. This type of ...

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