Standard Chartered Bank launches NRI Swagat Account

Chandigarh, Nov 13 (UNI) Standard Chartered Bank, India's largest international bank today launched its NRI Swagat Account, a first-of-its-kind customer proposition which addresses the specific banking requirements of NRIs with their roots in Punjab.

The Swagat Account comes in two variants--while one version is targeted to NRI's / PIO's (Persons of Indian Origin) with their origins in Kerala and the other for NRI's with their roots in Punjab.

Mr Rahul Johri, Business Manager, Global NRI Services, of the Bank while launching this new service for Punjabi NRIs said the NRI Swagat Account has the regular features of a Non-Resident External savings account . Both principal and interest can be remitted overseas without any limitations and no tax deduction at source (TDS), he added.

Mr Johri said that on availing this account customers are offered Free Investment Advisory services on the widest range of investment products and are also facilitated in investing in Life Insurance products depending on their needs. The account also allows unlimited free cash withdrawals from the account through VISA ATMs across the globe.

Besides, the customers also get free inward remittances and free demand drafts / pay orders on this account. It also allows access to the money in the account to the family members in India by offering ATM card to the mandate holder. Furthermore, customers can avail two free linked resident savings accounts with no minimum balance requirement for his near and dear ones.

In Punjab region the Bank has four branches in Chandigarh, Amritsar, Jalandhar and Ludhiana.

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