NBD pacts with HDFC to offer services to NRIs

New Delhi, Dec 19 (UNI) National Bank of Dubai today said it has partnered with HDFC Bank to help conduct their banking transactions in the UAE and in India, in a seamless and cost-efficient manner.

Under the umbrella of NBD-HDFC Bank NRI Services, the partnership will offer a series of banking products and services such as joint account services, remittances, wealth management solutions, preferential pricing on home loans in India and others.

''Through this alliance with NBD, we are looking to jointly provide Indian customers in the UAE the convenience of one stop financial services,'' HDFC Bank Managing Director Aditya Puri said.

Under the joint agreement, NRI customers will be able to sign up for the NBD-HDFC Bank NRI Value Account, featuring an NBD Value Account in the UAE and an HDFC Bank NRE/NRO Account in India.

The accounts will offer a host of benefits and features in the UAE such as interest, insurance, a free credit card, roadside assistance, medical access and value offers.

In addition, customers will get international gold debit cards at a preferential fee, payable at par chequing, investment advisory services, online mutual funds purchase and discounted safe deposit lockers, in India.

The arrangement will also offer customers the convenience of multi channel remittances for transfer of funds, free of charge from the customer's NBD Value account held with NBD to his or her account with HDFC Bank.

NRI customers will also be able to avail comprehensive wealth management solutions including investment products and insurance, with advisory services to help them choose the right investment strategy to suit their personal profiles and needs.

''An integral part of NBD's strategy is to provide value added products, seamless convenience and superior service to our customers,'' National Bank of Dubai CEO Douglas Dowie said.

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