Mariner's Account

• An NRE account can be opened by any person who is residing outside India. You can enjoy minimum 3.5% quarterly interest rate which is exempt from Tax.
  

An NRO account can be opened by any person who is residing outside India. It can also be converted back to a regular resident account when your return back to India permanently. Plus, you can enjoy minimum 3.5% quarterly interest rate.

The NRO account enables you to conveniently deposit and manage accumulated rupee funds (the income like rent, dividend, pension, etc., earned in India), thereby giving the freedom and convenience of hassle-free banking

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• Low minimum balance requirement of Rs.10,000
• 'Multi-city' cheque book which will permit you to make payment via cheque across multiple locations
• Free Internet Banking and Mobile Banking: 24 X 7 account access through secure Internet banking facility from anywhere and anytime
• Online shopping mall and utility bill payment facility by using our internet based Internet Banking login
• Interest earned on NRE Savings Account is not taxable in India

Mandate or Letter of Authority facility available so that in your absence you can authorize your trusted family member/ relative to operate your account or conduct banking transactions on your behalf

Enjoy 75 paise more value than the existing card rates when you remit money home

• Free personal accidental insurance* cover of Rs. 3 Lacs on the NRE account and 1 Lac on the NRO account.
• Lost Card Liability/Counterfeit cover# of Rs. 50,000 for both NRE and NRO Mariner Account.
• Eligibility of a purchase protection# of Rs.50,000 which encompasses all consumer durable goods purchased using debit cards are insured against fires, natural calamities, burglary and housebreaking up to 90 days from the date of purchase.

*The Personal Accident insurance cover will be considered as active at the time of the incidence if the customer has made a successful purchase transaction on the card within 180 days prior to the occurrence of the incident. The incidence has to be reported within 90 days of occurrence.

#for lost card liability and purchase protection cover, to remain active, there should be at least one purchase transaction within 180 prior to the date of mishap

In the event of the NRI returning from overseas on a permanent basis the NRO Savings Accounts has to be redesignated as resident accounts and the funds held in NRE accounts may be transferred to RFC accounts if the account holder is eligible for maintaining RFC account.