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NRO Current Account

Experience our non-interest bearing NRO Current Account for depositing Indian earnings and managing the local payments with free online transactions, preferential Forex exchange rates and offers on the Debit Card spends.

With Relationship manager accessible in a call/ mail away, we are happy to take your service requirements related to banking in India while you are abroad.

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NRO Current Account

To know more - Give a missed call on +91 93840 05822

Eligibility
  • NRIs and PIOs (Person of Indian Origin).
  • Seafarers who are Citizens of India/ PIOs employed in shipping companies registered office in abroad.
  • Government of India Employees with Diplomatic Passports working abroad.
  • Students Studying Abroad courses of duration of one year and above with valid student visa
Documentation

NRIs
  • One Recent Colour Passport Size Photo.
  • Copy of Passport Pages showing the details of Name, Date of Birth, Place of Birth, Issue and Expiry Dates, Parents Names, Specimen Signature and Photograph, latest stamping page.
  • Copy of Valid Visa or Work Permit or Residence Permit.
  • Proof of Mailing address whichever is selected in the Application form.
  • All documents attested by yourself(self attestation) and additionally by officials of Equitas Small Finance Bank /Your Banker Abroad/Notary Abroad /Indian Embassy.
  • Initial Payment Cheque more or equal to the Monthly Average Balance of your Current Account or the value you want to make a Fixed Deposit.
PIOs
  • One Recent Colour Passport Size Photo
  • Copy of Foreign Passport Pages showing the details of Name, Date of Birth, Place of Birth, Issue and Expiry Dates, Parents Names, Specimen Signature and Photograph.
  • Initial Payment Cheque more or equal to the Monthly Average Balance of your Current Account or the value you want to make a Fixed Deposit.
  • If the place of Birth is other than India, please provide one of the following,
    • Copy of Overseas Citizen of India(OCI) Card
    • Copy of Indian Passport held by self/parent/grandparent/great grandparent at any time
    • Copy of Indian Passport or OCI Card of the spouse
  • If the mailing address is different from the country of citizenship, provide a copy of valid visa.
  • All documents attested by yourself(self attestation) and additionally by officials of Equitas Small Finance Bank /Your Banker Abroad/Notary Abroad /Indian Embassy.
Seafarers
  • One Recent Colour Passport Size Photo.
  • Copy of Passport Pages showing the details of Name, Date of Birth, Place of Birth, Issue and Expiry Dates, Parents Names, Specimen Signature and Photograph.
  • Copy of Valid Transit or Work Visa or Copy of Continuous Discharge Summary (CDC) showing latest discharge summary or a declaration of sailing for the first time abroad.
  • Copy of Valid Contract letter showing the Name of the Principal Company and address, Name of the Employee, Flag and Name of the Vessel, Name of the Port, Contract Commencement Date and Tenure and Salary in Foreign Currency.
  • Merchant Navy Declaration in the Attached format
  • Proof of mailing address if different from passport.
  • All the documents has to be self attested as well as attested by Equitas SFB Staff.
Address Proof Required
  • The following documents, where current address is mentioned, can be used as a Proof of Address. This address must necessarily be similar to the mailing address mentioned on the account opening form.
Document Considered for Communication Address Proof
Document Considered for Communication Address Proof Overseas Indian
Copy of Passport Y Y
Copy of Bank statement / passbook duly signed by (no internet downloads, not more than 3 months old) Overseas or India based bank. If mailing address and bank a/c statement provided is of a Bank based in India, the statement should be of a NRI a/c or NR status should be certified by the bank on the statement. (Original Bank Statement required in case of Self-attestation) (The bank statement should be for a month or more and should not be more than 3 months old) Y NA
Copy of Driving License(except driving license issued by the Govt of Maharashtra) Y Y
Employer’s Certificate indicating the address (Authorized Signatory, specifying the purpose of letter issuance as Account Opening on Company’s Letter Head) (Accepted only from certain countries). Y NA
Copy of Credit card statement (not more than 3 months old) (Original in case of Self-attestation) Y NA
Copy of Company ID card indicating the address Y NA
Cert. from Indian Diplomatic mission stating the contact address Y NA
Copy of Govt. ID card (SSN / Green Card / PIO card / OCI card) Y NA
Copy of appointment letter indicating the address (on letterhead OR stamp) Y NA
Copy of Utility bill (electricity/ piped gas/ Landline telephone / water / Mobile / Broadband /– not more than 3 months old) (Original in case of Self attestation) Y NA
Copy of letter from University stating the address(for on-campus lodging) Y NA
Copy of CDC issued by Govt. of India NA NA
Copy of Foreign Government card Y NA
Copy of Permanent Singapore card** / Malaysian card Y NA
Copy of Operator License (USA) Y NA
Copy of Voter’s Identity (Election) Card NA Y
Copy of Tenancy Contact Registration Certificate issued by regulated body (UAE) Y NA
Copy of Wealth / Income Order (Not More than 6 months old) Y NA
In the case of GCC (Gulf Cooperation Council) countries (If customer is providing any one of the documents mentioned in Point A below as address proof for overseas communication address then it is mandatory to also obtain the address proof of India.
The local resident card mentioning the name of the sponsor (firm/company) can be used as overseas address proof; or The geography specific resident card mentioning the unique reference number can also be considered as the overseas address proof.
Y NA
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Charges

NRE and NRO Current Account SOC Effective from 16th August 2023

Average Monthly Balance
Average Monthly Balance (AMB) 

₹ 5,000/- for Semi Urban and Rural Category Branches

₹ 10,000 for Metro and Urban Category Branches

AMB Non-maintenance Charges No Charges Applicable
NRO Account As Additional Add On Account Without Seperate AMB Requirement
AMB Non-maintenance Charges incase of the customer having NRE and NRO accounts with the same "Mode of Operation" No Charges Applicable
Grouping With Family Accounts Or Business
Account Grouping Can be grouped to NR Savings Account or Current Account of higher value
Cheque Book Charges
Cheque book (PAP cheque book of 25 leafs) limit 1 Cheque book free per quarter
Charges beyond free limits ₹ 2/- per leaf
Collections
Local cheque clearing Free
Outstaion cheque collection charges at bank location Free
Outstaion cheque collection charges at non-bank location (Non PAP) Up to ₹5,000/-- Charges of ₹25/-, Above ₹5,000/- and up to and including ₹10,000/-- Charge of ₹50, Above ₹10,000/- and up to including ₹1,00,000/-- Charge of ₹100, Above ₹1,00,000/-- Charge of ₹150/- 
RTGS inward / NEFT inward / IMPS inward Free
Foreign inward remittance Free
Payments
Demand Draft and Payorder at branch locations Free up to 3 DDs per month
Charges beyond free limits ₹50/- per DD
Demand Draft at non-branch locations ₹100/- per DD
PAP Cheque payment Free
RTGS & NEFT Outward at branch (Free Online) NEFT:Upto ₹10,000/-,₹2.25/-,From ₹10,001/- to ₹1,00,000/-:₹4.5/-,From ₹1,00,000/- to ₹2,00,000/-:₹14.5/-,Above ₹2,00,000/-:₹24.5/-RTGS:From ₹2,00,000/- to ₹5,00,000/-:₹20/-, Greater than ₹5,00,000/-: ₹40/-
Cash Charges
NRO Current Account Cash Deposit limit at home location Free up to ₹1,00,000/- per month
NRO Current Account  Charges beyond free limits ₹3/1000
NRO Current Account Cash Deposit limit at Non-Home location NIL
NRO Current Account  Charges beyond free limits ₹4/1000
Cash Withdrawal at home location Free
Cash Withdrawal at non-home location ₹4/1000
Debit Card Cash Withdrawal txns at metro locations (other Bank ATMs) Free 36 Times a Financial Year
Debit Card Cash Withdrawal txns at non-metro location (other Bank ATMs) Free 36 Times a Financial Year
Charges beyond free limits of ATM withdrawals ₹21/- per txn
Cash withdrawal outside India (for international cards only) ₹110/- per txn
Balance Inquiry Outside India (for international cards only) ₹25/- per txn
Other Charges
NRE Visa International Classic Debit Card (Charges for issuance, annual fees, re-issuance) Free
NRO Rupay Domestic Classic Debit Card (Charges for issuance, annual fees, re-issuance) Free
Rupay NRO/NRE Domestic Platinum Debit Card with Chip (Charges for issuance, annual fees, re-issuance) Free
NRE VISA International Platinum Debit Card (Charges for issuance, annual fees, re-issuance) Free
NRE Regular Master World (Charges for issuance, annual fees, re-issuance) Free
Card Transaction Slip Retrieval Charges (for incorrect claims) ₹ 250/- per slip
Stop payment single cheque (free online) ₹ 100/- per cheque
Stop payment series (free online) ₹ 150/- for a series of 25 cheques
Outward cheque return charges for financial reasons ₹ 50/- per cheque
Inward cheque return charges for financial reasons ₹ 350/- per cheque for up to 2 cheques, ₹ 500/- per cheque for 3-5 cheques, ₹ 750/- per cheque 6th cheque onwards
Inward / Outward cheque return charges for technical reasons NIL
Standing Instructions set up/Amendment (Free for RD/SIP/Bill Payment) ₹ 25/- per instance
Standing Instructions failure (Return) ₹ 150/- per return
ECS / NACH return due to financial reasons ₹ 200/- per return
SMS alerts Free
Certificate and Report issuance
Balance Certificate at Branch (online free) ₹ 250/-  per instance
Previous year balance and interest statement (free online) 1 free per annum, ₹ 300/- per statement thereafter
Passbook issuance Free
Duplicate Passbook issuance ₹ 50/-
Signature verification certificate / Photo attestation / Address confirmation ₹ 50/- per instance
Duplicate TDS certificate ₹ 100/-
Duplicate account statement print (free online or on email) ₹ 50/-
DD / PO revalidation / cancellation ₹ 100/-
Account closure charges if closed on customer request before 6 months of account opening date and after 15 days of account opening. ₹ 500/-
Account inactive charges NIL
Doorstep Banking
Cheque pickup (on call) ₹ 50/- per instance
                                Cash pickup on call (Charges per instance in NRO Current Account)
Up to ₹ 200000 ₹ 150/-
₹ 200000 to ₹ 500000 ₹ 300/-
₹ 500000 to ₹ 1000000 ₹ 500/-
₹ 1000000 to ₹ 2000000 ₹ 800/-
₹ 2000000 above Contact Branch
No of Transactions

Aggregation of all the customer induced transaction including:

Cash/Cheque/RTGS/NEFT/DSB/DD/IMPS(Excluding Online and ATM Transaction) 8 transactions free per month
Charges beyond free limits ₹ 15/- per transaction over and above the individual transaction limit charges

Available on request at select locations only. Taxes as applicable will be additional                                                                                                                                                                                                            

PAP: Payable At Par NA: Not Applicable
SA: Savings Account CA: Current Account
NRE: Non Residential External Account NRO: Non Residential Ordinary Account