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Axis Bank offers NRIs the NRO deposits. Be sure to check your eligibility for the same beforehand. Also, check the documentations you will need to apply for the same. If you have any additional queries, check out the NRO rupee deposits FAQs to find out more about this service.
Yes. You can avail of a loan against your NRO Deposits. The loan/overdraft can be used for personal purposes or for carrying on business activities other than
Yes. You can break your NRO Deposit before the maturity period. The Deposit would qualify for interest only if it has been held for a period of 7 days.
If you provide specific auto renewal instructions, the Deposit will be renewed on maturity in accordance with the instructions. In the absence of any instructions, Deposit will be renewed for the same period at the rates prevailing on the date of maturity.
TDS is deducted on the interest at the following rate 30.90%
Yes. You can have a nominee for the NRO Fixed Deposit.
