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State Bank of Mysore -
Interest Account
NRNRD {Non-resident Non-repatriable Deposit} Account
- Non-resident Indians and
foreign nationals (except Pakistani & Bangladesh nationals) and Overseas Corporate
Bodies (OCB) can open this account in Indian Rupees.
- Deposit account is also opened
jointly with other non-resident or close resident relatives.
- Deposits are accepted for
periods from six months to three years.
- Principal sum of Deposit is not
repatriable. But interest earned after 01.10.1994 is repatriable.
- Account is opened by foreign
inward remittance or by transfer of funds from existing Non-resident (External) / Foreign
Currency Non-Resident accounts.
- Deposit can be renewed for a
further period of six months to three years from the date of maturity, depending upon the
choice and preferences of the depositor through a standing instruction.
- Loans / Overdrafts upto 90% of
the deposit plus accrued interest is available for local disbursements.
- The scheme offers the highest
rates of interest.
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