Secure Your Money And Watch It To Grow Too!
Terms and Conditions
- No Exchange fluctuation Risk to INR to USD.
- Flexible withdrawal
- Comfort of liquidity
- Provision for nomination
- Loan and overdraft limits are granted against lien of deposit receipts
- Both Principal and Interest are freely Repatriable.
- Remittance of principle and/or interest is Free of Charges
- Relationship Manager Facility available
|Eligibility||NRIs/PIOs/OCIs are eligible to open and maintain these accounts singly or jointly. Joint account with Resident close relative may allow with the payment conditions of “Former or Survivor”|
|Currency||USD / EUR / GBP or Any other Freely Convertible currency acceptable to IBU.|
|Minimum Deposit Amount||USD 1.000 Mn or Equivalent in Other Currency (Per customer)|
|Maximum Amount of Deposit||No upper Limit.|
|Period of Deposit||Minimum – 12 months Maximum – 60 months|
|Repatriation||Repatriation of funds permitted freely in any Convertible Currency|
|Rate of Interest||Please “Click Here”|
|TAX Deduction at Source||No TDS on Interest Amount|
|Availability of Loan/ Overdraft||Loan and overdraft limits are granted against lien of deposit receipts.|
|Negotiable||Not negotiable nor transferable|
|Auto Renewal of Term Deposits||In absence of any instructions from the depositor to the contrary, the deposit shall be automatically renewed for 1 year period.|
|Premature Withdrawal||· For any premature withdrawal before completion of one year from date of deposit /Auto renewal date, no interest will be payable. · In case of any part closure or premature withdrawal, IBU shall pay the customer the rate of interest at the card rate prevailing on the date of deposit or the prevailing card rate, whichever is lower on the partially withdrawn amount. The interest shall be paid upto the period the deposit was placed with IBU on the amount partially withdrawn. The remaining portion of deposit with IBU shall continue to attract the original rate which was provided at the time of opening of deposit. · In case of complete pre-closer of deposit, IBU may charge premature penalty @ 0.25% p.a. on prevalent time deposit rate for corresponding period, whichever is lower.|
- Advance against Deposits: Loan and overdraft limits are granted against lien of deposit receipts.
- Interest certificate available at request of customer
- Mode of Payment: Maturity proceeds are credited to the SB/ CA account of the customer.
- Telecommunication Mandate Facility available.