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Old May 14th, 2016, 07:41 PM
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Join Date: Nov 2011
Default Re: NRE Account Union Bank Of India

Union Bank of India is one of the largest government-owned banks of India. The bank was established on 11 November 1919. It head quartered in Mumbai, India.

NRE Current Deposit account

Details Required Indian Rupees

Particulars Non-Resident (External) Rupee Account ( NRE) - Current Deposit (CD)

Currency Indian Rupees

Type of Accounts Current

Sources of Funding the Account -

Depositing cheque / draft drawn in foreign currency or INR, drawn on Vostro A/cs maintained by foreign bank and exchange houses with us.

Funds remitted from abroad in any permitted currency through banking channels.

Transfer from other NRE / FCNR accounts of the same account holder or another account holder with our Bank or other Banks accompanied by a certificate from paying bank.

Surrender of foreign currency / foreign currency travellers’ cheques to the Bank by the account holder in person.

Note : Third party TCs are not permitted.

Rate of Interest No Interest Paid

Eligibility-

NRIs / PIOs (other than person resident in Nepal and Bhutan) (such individuals from Bangladesh and Pakistan require prior approval of RBI)

Joint Account with One or more NRIs / PIOs

Nomination Permitted

Minimum Balance -

Average quarterly balance in SB A/c
Rs.5000/- (for metro & urban)
Rs.______/- (for SU / rural)

Tax on Interest Income No Income Tax

Contact details-

Union Bank
Bhavan, 239, Vidhan Bhavan Marg,
Nariman Point, Mumbai - 400 021, Maharashtra, India
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