Non Resident (Ordinary) Current Account
Our Non Resident (Ordinary) Current Account is a specialized banking solution for NRIs who earn income in India through businesses, rentals, dividends, or other sources. This account is pivotal for efficiently managing your Indian financial assets while residing overseas. It allows the repatriation of current income like rent and pension after meeting specified conditions, providing a crucial link between your earnings in India and your global financial footprint. The account can be used for local payments and investments on a non-repatriation basis, making it ideal for NRIs who have ongoing financial commitments in India. Read more Read less
Why this account is for you
Build your future with our savings accounts
Efficiently manage transactions in multiple currencies, suitable for your global financial activities
Benefit from dedicated NRI customer support for personalized banking assistance
Open jointly with resident Indians, perfect for family financial integration
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Eligibility criteria
- Indian citizens who are residing outside India for employment, business, education, or other personal reasons
- Engaged in professional or business activities abroad, including those working for international organizations
- Indian students pursuing higher education or academic courses abroad
- Seafarers and maritime professionals of Indian nationality
- PIOs/OCIs holding eligible foreign passports
Documents required
- Valid Indian passport or resident card
- Employment/resident/student visa
- Overseas residential proof
- PAN card or Form 60
- Attestation for off-site verification, if applicable
As easy as 1,2,3...
Apply for a NRO Current 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
Got questions? We’ve got answers.
Funds in the account generally cannot be repatriated. However, current income such as rent or pension can be repatriated after obtaining the necessary certifications and fulfilling tax obligations.
You can open a joint NRO account with other NRIs or resident close relatives in India, enhancing financial management within the family.
The account can be used for local investments and payments within India on a non-repatriation basis, offering you a range of investment opportunities.
Yes, the account comes with a nomination facility, allowing you to nominate a beneficiary for ease of asset transfer.
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.
Yes, the account is accessible online, enabling you to manage your finances remotely from anywhere in the world.
When it comes to managing non-resident business finances in India, the NRO Current Account is a trusted solution. This specialized account, known as the Non-Resident Ordinary Current Account, serves the financial needs of NRIs with income generated within India. It is the go-to choice for individuals and businesses seeking a reliable non-resident business bank account for seamless transactions and fund management. Whether you're running a business or handling personal finances, the NRO Current Account offers the convenience and flexibility required for efficient financial operations.
