Building wealth abroad: Why NRI savings accounts are a must-have

As a Non-Resident Indian (NRI), managing finances across borders can be complex. Choosing the right bank is crucial to ensure you manage your finances effectively while maximising returns. Ujjivan Small Finance Bank offers a variety of banking solutions designed to meet the specific requirements of NRIs.

Ujjivan offers two types of NRI Savings Accounts - NRE (Non-Resident External) Savings Account and NRO (Non-Resident Ordinary) Savings Account. Featuring competitive-interest rates, repatriation facilities, and exclusive perks. These accounts are structured to cater to the diverse financial needs of NRIs. Any Non-Resident Indian (NRI) with a valid documentary proof is eligible to open an account.

• Non-Residential External (NRE) Savings Account: The NRE savings account is ideal for NRIs who wish to deposit their foreign income in India, while enjoying tax-free interest of up to 7.50%* p.a. The funds in this account are fully repatriable which helps in enabling seamless international transfers. Customers can avail of secure inward and onward remittance facilities, free RTGS and NEFT transactions and more.
• Non-Resident Ordinary (NRO) Savings Account: The NRO savings account is perfect for managing earnings generated in India like rent, pensions or dividends while living abroad with ease. The account offers interest rates of up to 7.50%* p.a. and provide facilities like charge-free remittance (for NEFT and RTGS),as well as repatriation of funds as per FEMA guidelines. Customers can also avail the forex and remittance services at competitive exchange rates. However, the interest earned is taxable as per Income Tax laws in India.

Additionally, both the accounts are designed to be hassle-free, requiring no minimum monthly average balance and ensuring flexibility for the NRIs

For NRIs seeking premium services, the NR Maxima Savings Account(NRE & NRO) by Ujjivan offers an elevated experience with exclusive perks and unparalleled benefits. The account offers unlimited ATM transactions, free demand drafts and cheque books. You can also, get a lifetime free RuPay Select Debit Card with benefits like complimentary airport lounge access, higher withdrawal limits, wellness services, and exclusive merchant offers.

New to Bank customers aged 18 to 65 will receive complimentary health benefits in the first year. Ujjivan also provides a range of Fixed Deposit options for NRIs, with attractive interest rates of up to 8.25%# on regular deposits and 8.45%@ on platina deposits (non-callable deposits above ₹ 1 crore to below ₹ 3 crore) with flexible tenures to help grow your wealth effectively.

Ujjivan Small Finance Bank ensures seamless banking tailored for NRIs, from tax-free savings to managing earnings in India or leveraging exclusive premium services, every financial need is met with ease and confidence. Open your NRI account today and experience the difference!

*On an incremental balance above ₹ 25 lakhs. Other T & C Apply

#Interest Rate p.a. for a tenure of 12 months. Interest rate demonstrated are subject to change from time-to-time. Other T&C Apply

@ Displayed rate is applicable for Platina FD. Platina FD rates are applicable for deposits above ₹1 crore to below ₹3 crores for a tenure of 12 months. Interest rates demonstrated are subject to change from time-to-time. Other T&C Apply.