All the perks of an NRI Bank Account
Attractive Interest Rates
Avail high returns up to 7.5%* interest on your Savings Account, paid monthly. High interest rates are also available with Term and Recurring Deposits.
Secure Your Precious Possessions
Avail yourself of a generous 25% discount on lockers, ensuring your valuables are safeguarded here while you are abroad.
Average Minimum Balance
The minimum requirement is Rs.10,000/- per month
Elevate Your Travel Experience
Come home in style. Our Rupay Select Debit Card includes a host of perks such as exclusive lounge access, insurance cover & many more.
Zero Balance Accounts for Family
Keep your family's financial needs in India stress-free with our Zero Balance Savings & Current Account.
A Personal Banking Concierge
A dedicated Relationship Manager, your single point of contact for all your banking needs in India.
Banking solutions for every need
NRE Account
Easy and smart way to transfer your foreign earned funds to India and earn attractive interest rates
- 6% p.a. interest for upto ₹ 1 Lakh deposit
- 7% p.a. interest for above ₹ 1 Lakh deposit
- Average minimum balance is ₹10,000 per month
- Tax free with monthly interest payout
NRE & NRO Fixed Deposits
Avail the high rate of interest by investing in our Fixed Deposit Schemes for NRIs and grow your income to cater your future needs.
NRO Account
Park your income earned through Indian and foreign sources and earn High Interest rates
- 6% p.a. interest for upto ₹ 1 Lakh deposit
- 7% p.a. interest for above ₹ 1 Lakh deposit
- Average minimum balance is ₹10,000 per month
- Monthly interest payout with applicable taxes
Who can open an
NRI Account?
Documents required (Same for all)
- Recent colored passport size photo
- ID Proof - Photocopy of Valid Passport
- ID Proof - Copy of PAN Card / Form 60 in absence of PAN
- Proof of NRI Status - Copy of Valid Visa / Work Permit / Overseas Resident Card / POI Origin Card / OCI Card
- Overseas Address Proof - Any Utility Bill / Driving License / Employer’s Letter
- Local Address Proof - Light Bill / Aadhar Card / Undertaking from close relative with close relative’s address proof
- Proof of Occupation - Appointment / Contact Letter, ID Card, License issued by respective government
- In case of Seafarer - Seamen’s ID Card / CDC (Continuous Discharge Certificate)
- Download and fill the form from our website
- Self-attest KYC documents and obtain attestation from one of the following authorities: Existing bankers abroad, Notary public abroad, Indian Embassy/Consulate General in the NRI's country of residence.
- Courier the form and documents to the branch address, including the courier receipt.
For any inquiries, reach us out on +1800-209-1122 or mail us on care@unitybank.co.in
High Interest Rates
Earn up to 7.5%*interest on your Savings account balance, paid monthly. Also earn higher interest rates on Term Deposits and Recurring Deposits.
| Savings Account Balance | Interest Rates (p.a)* |
|---|---|
| Upto ₹1 lakh | 6% |
| > ₹1 lakh - ₹5 lakhs | 7.25% |
| > ₹5 lakhs | 7.5% |
How to open an NRI Account?
In-person Account Opening: Customer needs to visit the nearest branch of Unity Small Finance Bank.
Remotely Opening an NRI Account: Customer needs to download the form from the website of Unity Small Finance Bank.
Obtain the above-listed KYC documents, duly self-attested & attested from any of the following authorities abroad:
- Notary Public abroad
- Indian Embassy/Consulate General in the country where the non-resident customer resides.
The signature on Account opening Form also needs to be attested by the above authorities. Customer
should send all the documents along with account opening Form through Courier at the Branch Address.
Branch can proceed with the account opening Formalities only on receipt of original documents through
Courier.
Detail overview of NRI Accounts
NRI accounts are those opened by non-resident Indians (NRIs) or PIOs (Persons of Indian Origin)/OCIs (Overseas Citizens of India) with any bank as per the authorization of the Reserve Bank of India. These are specially tailored accounts for these customers, offering numerous banking services and features. NRIs may choose to open these accounts to deposit income earned in their country of residence or even
in India.
More About the Types of NRI Accounts Offered by Unity Small Finance Bank
NRO (Non-Resident Ordinary) Accounts
These accounts can be opened with income/earnings that originate from India. The income source may be investments/assets and may cover interest, dividend, rental income, and so on. Deposits may be made in Indian rupees or foreign currencies, although withdrawals are only allowed in Indian rupees. These accounts may be opened individually or jointly with another NRI or Indian resident. Please note that the interest earned on the account is liable to be taxed. The present TDS rate is 30% + fee and cess.
NRE (Non-Resident External) Accounts
These accounts may be opened based on the income originating from the NRI’s country of residence or employment. The account denomination will be in Indian rupees and the account may be a savings or current account. Even FD/RD accounts can be set up under this system. NRE accounts may be opened jointly, with Residents with operating instructions as “Former or Survivor”.
Deposits may be made of earnings in foreign currency and not the money that is earned in India. Withdrawals can be done in foreign currency and amounts may fluctuate due to conversion rate changes. Funds from these accounts may also be easily sent to other NRO/NRE accounts while the income is tax-free with both the interest and principal tax exempted. NRIs may also invest in India through their NRE accounts.
Benefits of NRI Accounts
Some of the key benefits of NRI accounts include the following:
- Low average minimum balance requirements at most banks. Unity Small Finance Bank, for example, has a requirement of just Rs. 10,000 per month.
- There are zero balance accounts available at several banks which help NRIs manage their finances effectively in India, along with current accounts.
- NRIs can avail of locker facilities at their banks in order to keep their possession secure in India. Some banks even offer discounts on locker services. Unity Small Finance Bank, for example, offers a discount up to 25% on these facilities.
- NRIs can easily use these accounts to repatriate earnings to their Indian dependents. This can be done through NRE/NRO accounts, and the money can be withdrawn by their family members in Indian rupees.
- NRIs can use NRO accounts to continue earning income from assets and investments in India, while keeping them secure at the same time.
- They can also use NRI accounts to invest in funds and other financial instruments in India without any hassles.
- NRE accounts help NRIs get attractive rates of interest and these accounts also enable tax-free interest income.
- NRIs can use their accounts to take loans with the money kept in the same provided as security/collateral.
