NRI Deposit Accounts

Why Citi?	Non-Resident External Deposit (NRE)	Non-Resident Ordinary Deposit (NRO)	Foreign Currency Non-Resident (FCNR)
	Check Rates Open NRE Deposit	Check Rates Open NRO Deposit	Check Rates Open FCNR Deposit
Funds Transfer	From outside India. From within India Only from an FCNR/NRE account. Current Income subject to submission of requisite documentation.	From outside India. From within India From FCNR/ NRE or NRO account. From Indian income sources.	From within India(Only from NRE/FCNR account) From outside India
Interest Option	Option to choose between Simple Interest and compound interest. Simple interest is accrued monthly and paid quarterly to Rupee Checking Account. Compound Interest is accrued every 90 days and paid at maturity. Calculated on daily balances and paid quarterly	Option to choose between Simple Interest and compound interest. Simple interest is accrued monthly and paid quarterly to Rupee Checking Account. Compound Interest is accrued every 90 days and paid at maturity. Calculated on daily balances and paid quarterly	Interest is compounded every 180 days and paid upon maturity
Automatic Rollover	Automatic Roll over option available for convenience	Automatic Roll over option available for convenience	Automatic Roll over option available for convenience
Tenure	Minimum 365 days (1 year) Maximum 1825 days (5 years)	Minimum 7 days Maximum 1825 days (5 years)	Minimum 365 days (1 year) Maximum 1825 days (5 years)
Minimum Deposit Amount	5000	5000	Nil
Who can open an account	NRIs and PIOs	NRIs and PIOs	NRIs and PIOs
Who can be a joint holder	May be held jointly in the names of two or more NRIs/ PIOs or with a resident relative on 'former or survivor' basis as Power of Attorney holder.	May be held jointly in the names of two or more NRIs/ PIOs or with a resident relative on 'former or survivor' basis as Power of Attorney holder.	May be held jointly in the names of two or more NRIs/ PIOs or with a resident relative on 'former or survivor' basis as Power of Attorney holder.
Currency	Indian Rupees(INR)	Indian Rupees(INR)	US Dollar, British Pound, Euro, Japanese Yen, Australian Dollar, Canadian Dollar
Taxation	Interest earned is exempt from income tax in India. However, interest earned may be subject to tax in your country of residence. Please speak with your tax consultant for additional information.	Interest earned is subject to TDS in India. Interest earned may be subject to tax in your country of residence. Please speak with your tax consultant for additional information.	Interest earned is exempt from income tax in India. However, interest earned may be subject to tax in your country of residence. Please speak with your tax consultant for additional information.
Repatriation	Principal and interest are fully repatriable	RBI allows repatriation only for current income up to USD 1 (one) million per financial year (April-March), for any bonafide purpose after payment of applicable taxes.	Principal and interest are fully repatriable

Please Note:

• If you wish to open a new Citibank Term Deposit, you will also be required to open a Citibank NRI Savings Account. This is required to facilitate interest payout, mandate holders, and funding of the account.
• In case of pre-termination, the interest earned on a Term Deposit is calculated differently. Click here for an illustration

• Disclaimers: Citibank India does not market any product or service to individuals resident in the European Union, European Economic Area, Brazil, New Zealand, Switzerland, Guernsey, Jersey, Monaco, San Marino, Vatican, The Isle of Man and UK. This webpage is not, and should not be construed as, an offer, invitation or solicitation to buy or sell any of the products and services mentioned herein to individuals resident in the European Union, European Economic Area, Brazil, New Zealand, Switzerland, Guernsey, Jersey, Monaco, San Marino, Vatican, The Isle of Man and UK.