Non Resident (External) Savings Account
Our Non-Resident (External) Savings Bank Account is crafted for NRIs like you, who seek a reliable and efficient way to save their hard-earned money from abroad. This account is not just a savings tool; it's a bridge connecting your international lifestyle with the comfort of home. It's designed to safeguard your earnings, offering tax-exempt interest, ensuring your peace of mind. Whether you're working overseas, on international assignments, or studying abroad, this account ensures that your savings grow in a familiar environment. With its easy repatriation feature, you have the freedom to move your funds as per your needs.Read more
Why this account is for you
Build your future with our savings accounts
Move funds freely across borders with our fully repatriable savings account
Enjoy tax-exempt interest on your savings and maximize your earnings
Designed for a broad range of NRIs and OCIs, catering to diverse international Indian communities
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Eligibility criteria
- Engaged in jobs or businesses outside India, or running a business abroad
- Living outside India for an unspecified duration, or working with the Government on diplomatic missions or international organizations
- Indian students pursuing an education abroad
- Individuals holding a foreign passport (except Bangladesh or Pakistan), with Indian roots
- Foreign nationals married to an Indian citizen
- A citizen of India as per the Constitution of India or the Citizenship Act of 1955
- Having parents or grandparents who were Indian citizens
Documents required
- Valid Indian passport
- Employment work visa, student visa or relevant visa
- Overseas residential proof
- PAN card or Form 60
- Document photocopies attested by officials from overseas Indian banks, notaries, magistrates, or Indian embassies/consulates in case of off-site verification
- Valid foreign passport
- Relevant visa of overseas country
- Overseas residential proof or resident card
- PAN card or Form 60
- Document photocopies attested by notaries, magistrates, or Indian embassies/consulates
As easy as 1,2,3...
Apply for a savings account in 3 simple steps
Step 1
Visit your nearest branch
Go to your nearest Karnataka Bank branch
Step 2
Start with your basic details
Provide your basic details and keep your documents handy
Step 3
We’ll take care of the rest
Our branch officials will notify you when your account is opened
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Got questions? We’ve got answers.
The primary advantage is the ability to save your foreign earnings in India securely, with the benefit of tax-exempt interest and the flexibility of easy fund repatriation. It’s an ideal way to manage your global finances while enjoying the benefits of Indian banking.
Yes, you can open a joint account with a resident close relative, offering you the flexibility to include your family in your financial planning.
The interest earned on your NRE Savings Account is exempt from tax in India, making it a tax-efficient way to grow your savings.
Yes, the balance held in this account is freely repatriable. This means you can transfer your funds back to your country of residence whenever needed, without any restrictions.
If you have lost your debit or credit card, or if it has been stolen, you should immediately report the incident to Karnataka Bank to ensure your account's security. You can send an email to info@ktkbank.com detailing the situation. Alternatively, you can call our toll-free customer numbers at 1800 425 1444 or 1800 572 8031. Prompt reporting is crucial to prevent any unauthorized transactions and to secure your account.
This account is available to Non-Resident Indians (NRIs) and Persons of Indian Origin (PIOs) who are residing outside India for employment, business, or education.
The NRE savings account is a specialized financial tool. This NRE account is designed exclusively for NRIs to seamlessly manage their finances. One of the primary attractions of this account is its competitive NRE savings account interest rates, which offer the advantage of earning significant returns on your foreign currency deposits. The NRE savings account empowers you to save and grow your wealth, all while ensuring that your money remains accessible whenever you need it. With a range of benefits tailored to meet the needs of NRIs, including easy repatriation and tax-free interest income, the NRE savings account stands as a preferred choice for global Indians seeking financial stability.
The NRE savings account offers a host of benefits that make it an attractive choice for NRIs worldwide. Firstly, this account allows you to repatriate both the principal amount and the interest earned, making it an ideal choice for those who want to maintain financial ties with India while ensuring liquidity. Additionally, the tax-free interest income earned on your NRE account deposits is a significant advantage. You can enjoy the fruits of your investments without worrying about tax liabilities, further enhancing your wealth accumulation. Moreover, the ease of operating the account remotely and the ability to manage it online make it a convenient choice for NRIs with busy international schedules. With its competitive NRE savings account interest rates, financial flexibility, and array of benefits, the NRE account is the perfect tool to help NRIs achieve their financial goals while staying connected to their roots in India.
