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Sunday, 24-Jun-2018  12:19:35 PM
Non-Resident Deposits
Deposit Schemes for Non – Resident Indians

Non-Resident persons of Indian origin /nationality can open the following types of Non-Resident Accounts in Abhyudaya Co-operative Bank Ltd:

  • Types of accounts you can open are Savings, Current or Term Deposit in Indian Rupees.
  • You can open an NRE account by :
    • Remittance from abroad (through SWIFT Payment Order).
    • Transfer of funds from existing NRE/FCNR accounts with other banks in India or from other branches of our bank.
    • Foreign currency notes/travellers cheques brought in during temporary visit to India.

Unique features of NRE accounts

  • The entire credit balance inclusive of interest earned can be repatriated outside India without reference to Reserve Bank of India.
  • NRE account can be operated by Resident Indians on the basis of a Power of Attorney or on the basis of a Letter of Authority issued by the NRI account holder. However PA/LA holder cannot cause repatriation of funds abroad.
  • Joint accounts can be opened along with other Non-Resident Indians. Joint accounts can also be opened with close relatives ( as defined in Section 6 of the Companies Act, 1956 ) living in India on “former or survivor “basis The resident close relative shall be eligible to operate the account as a Power of Attorney holder in accordance with the instructions during the life time of the NRI account holder.
  • Local disbursements, purchase of units of UTI, Central and State Government securities and National Savings Certificates can be made from these accounts.
  • Sale/Maturity Proceeds /repurchase proceeds of units of UTI, Securities or certificates originally purchased out of funds in these accounts can be credited without reference to RBI.
  • Under term deposits, deposits are accepted for a minimum period of 1 year and a maximum period of 3 years.
  • Loans to deposit holders /third parties in India are available against security of deposits.
  • Cheque book facility is available for NRE Savings Bank Account.
  • Interest earned is not taxable. No wealth tax on balances.
  • Attractive interest rates as applicable to domestic deposits are offered as per the latest RBI guidelines.
What's Latest
arrow Per day limit of MOBILE BANKING is Rs.1,50,000/- i.e. Rs.1,00,000/- through IMPS and Rs.50,000/- through NEFT.
All the Customers may please note that minimum average balance in Savings Account with effect from 01.04.2018 shall be Rs. 500/-. Lower average balance will attract charges applicable as per rules.

arrow Customers who want to avail input credit as per GST Act Click here...

arrowMaximum cash withdrawl permissable at Host branch with cheque book only in Any Branch Banking is Rs.50000/- for self & Rs.25,000/- for third party in SB Account and Rs.100000/- for self & Rs. 50,000/- for third party in Current, FLXLN, SOD, SODGLD and SODIMP accounts .

arrow Bank has introduced yearly service charges on PLATINUM Debit Card at Rs.150/- Plus Taxes..Click Here


arrow Click HERE

arrow A SB/CD a/c is treated as DORMANT, if there are no transactions in the account for over a period of 2 years(i.e.no credit or debit induced by customer as well as 3rd party other than crediting of periodic interest or debiting of service charges.

arrow List of Unoperative SB Accounts with Zero balances,Un-operative for more than 10 years...Click HERE


arrow Just give missed call to Toll free number 18004195511 from your registered Mobile number for Balance Enquiry. To HOTLIST the ATM / RUPAY DEBIT card :- DIAL 9223110011 from your registered MOBILE NUMBER, after 2-3 rings call will be disconnected & system will HOTLIST your card with SMS confirmation.


arrow Intimation to Account holders having "0" Balance for 6 months : -Click here


arrow LIST of SB/CD accounts having "0" Balance for 6 month : -Click here

Guidelines for claim of Unclaimed Deposit & to activate Inoperative Accounts for 10 years & more.
arrow Click here
List of Unclaimed Deposits & Inoperative Accounts for 10 years & more.
Click here

arrow While booking online Tickets through IRCTC website with the help of RuPay Debit Card, Use RuPay card (Powered by Kotak Bank) under option payment gateway / credit card .

arrow Charges for Transactions inclusive of Financial & Non Financials on other Banks ATM in a calendar month Rs.20 per transaction plus GST.For Savings Bank account holders Five such transactions are free in a calendar month.
arrow    BANK's POLICY (click Here)