IND Millionaire Recurring Deposit Account – NRE

Highlights:

• Eligibility: Non-resident individuals of Indian nationality (NRI) or individuals of Indian Origin (PIO)
• Type of deposit: Recurring Deposit in INR with a maturity of one million and in multiples of one million.
• Period: Minimum of one year and maximum of ten years in multiples of one year.
• Maturity amount: Minimum Rs.10.00 lacs and in multiples of Rs.10 lacs (subject to slight change in actual value due to the rounding off of instalments to the next rupee).
• Nomination: Available.
• Rollover option: Maturity amount will be credited to the linked SB /CA Account Number.
• Pre-closure Facility: Allowed.
• Funding: Transfer from NRE SB/CA by registering standing instruction.
• Instalments: Monthly instalments, as per the table below, at the present interest rates for a minimum maturity value of Rs.10.00 lacs and in multiples of 10 lakhs. The instalment will be rounded off to the next rupee (there will be a slight increase in the maturity value due to Rupee rounding off).
• The instalments for IND Millionaire Recurring Deposit Account – NRE:

Please note : The instalments are as per the prevailing interest rates. If Interest rates change, the instalments for RDs opened thereafter will change.