Non Resident (Ordinary) Savings Account

Our Non Resident (Ordinary) savings bank account is an ideal solution for NRIs looking to securely manage their earnings in India. Whether it's rental income, dividends, or pension, this account is designed to keep your Indian proceeds safe and sound. It's more than just a savings account; it's a gateway to efficiently utilize your funds for local payments and investments within India. Our NRO account offers the flexibility to repatriate current income, subject to necessary certifications, making it a practical choice for those living abroad. Read more

Why this account is for you

Build your future with our savings accounts

Manage Indian income efficiently while living abroad

Repatriate current income like rent or dividends, ensuring your funds are always within reach

Share financial responsibilities with family in India by opening a joint account with resident Indians

Non-repatriable basis

Use this account for local payments and investments in India, aligning with your financial goals.
 

Taxable interest

Interest earned is subject to Indian taxes, ensuring compliance with local financial regulations.

 

Repatriation of current income

Certain incomes like rent and dividends can be repatriated, offering financial flexibility.
 

Nomination facility

Secure your loved ones' future by nominating a beneficiary for your account, ensuring financial security.
 

24X7 online banking

Stay connected anytime, anywhere with the KBL Mobile Plus app or our user-friendly internet banking services, ensuring you can enjoy banking anytime, anywhere.

Minimum balance requirements

Flexible minimum balance, as low as ₹200.

PMJJBY Scheme

Ensure social security with the Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) scheme. Any Individual between the age group of 18 to 50 can enrol. Get upto 2,00,000 Sum Assured in the event of death.

PMSBY Scheme

Insure yourself today with the Pradhan Mantri Suraksha Bima Yojana PMSBY scheme, covering any individual between the age group of 18 to 70, in the event of accidental death or handicapped for life.*
*Subject to the scheme conditions

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Book a minimum of 3 nights at SaffronStays and avail a 15% discount up to ₹15,000*

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Eligibility criteria

Non-resident of India (NRIs)
  • 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

NRIs
  • 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 officials from overseas Indian banks, 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

As easy as

Explore other options for you

Trusted by thousands and handpicked for financial excellence

Non Resident (External) Savings Account

  • Move funds freely across borders
  • Enjoy tax-exempt interest on your savings
  • Designed for NRIs and OCIs

Resident Foreign Currency (RFC) Savings Account

  • Transfer and manage your global earnings in India
  • Repatriate current income like rent or dividends
  • Share a joint account with resident Indians

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Got questions? We’ve got answers.

What makes an NRO Savings Account different?

An NRO Savings Account is designed for NRIs to manage their earnings in India, like rental or pension income. It allows for repatriation of current income and can be used for local investments, making it a versatile choice for managing Indian finances.

Yes, current income such as rent, dividends, or pension can be repatriated. This requires certification by a Chartered Accountant confirming eligibility for repatriation and tax compliance.

Yes, interest earned on an NRO account is subject to Indian tax laws. It's important to understand these implications and plan accordingly.

Absolutely, you can open a joint NRO account with a resident Indian relative, facilitating easier management of shared financial responsibilities.

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.

The nomination facility allows you to nominate a beneficiary for your account, ensuring your funds are securely transferred to your loved ones in your absence.

The benefits of a NRO savings account

For NRIs seeking financial stability and a secure way to manage their Indian income, the NRO Savings Account offers a valuable solution. This specialized banking product, known as the NRO account, is tailor-made for Non-Residential Indians looking to efficiently handle their earnings within India. What sets it apart is the competitive NRO savings account interest rates, allowing you to earn returns on your Indian income while maintaining easy access to your funds. The NRO savings account is designed to help you save and grow your wealth while providing the flexibility to manage your finances in a hassle-free manner. With a multitude of NRO account benefits, including seamless repatriation options and tax-efficient money management, this account is the go-to choice for NRIs looking to stay connected to their financial roots in India.

The NRO Savings Account comes loaded with advantages that make it the preferred choice for NRIs worldwide. First and foremost, it allows you to efficiently manage and repatriate your Indian income, ensuring financial ties with India remain strong. The tax implications are favorable as well, with tax-efficient structures in place to optimize your returns. With competitive NRO savings account interest rates, your funds can grow steadily. Furthermore, the convenience of managing your NRO bank account remotely and through online channels adds to its appeal, making it a practical choice for NRIs with global commitments. Whether you're seeking to safeguard your wealth, plan for the future, or simply manage your Indian income efficiently, the NRO account offers a comprehensive package that aligns perfectly with your financial goals.