Non Resident (External) Recurring Deposit

In today's interconnected world, securing your financial future while living abroad has never been easier. This deposit plan gives you the opportunity to contribute to a deposit regular amounts and earn a steady interest with the funds you have abroad. With sophisticated and streamlined features, you can enjoy tax-exempt interest and easy repatriation of funds if you are working overseas, studying abroad or simple investing as a NRI. Read more

Why this recurring deposit is for you

Recurring rewards and lasting wealth for NRIs everywhere

Benefit from tax-exempt interest on your deposits, helping you maximize your savings

Enjoy the freedom to repatriate your funds and access your savings from anywhere in the world

Create joint accounts with close relatives, making financial planning and sharing easier than ever

Features

Small contributions

Deposit and grow your savings conveniently in small increments, allowing you to start with minimal contributions and steadily build your wealth over time.

Global repatriation

Freely repatriate your balance when needed, ensuring your funds are accessible worldwide, offering flexibility and peace of mind for your financial needs.

Nomination facility

Secure your loved ones' financial future by nominating beneficiaries, ensuring that your savings go to the right hands in unexpected situations.

Not sure which product is for you?

Let’s find the best fit together

  • No spam calls
  • Dedicated KBL experts
  • Set up a call on your time

Eligibility criteria

  • NRIs residing abroad
  • Indian students studying overseas
  • Seafarers of Indian origin working for overseas shipping companies
  • PIOs and OCIs
  • Individuals holding a foreign passport (excluding Bangladesh and Pakistan) with Indian lineage, or spouses of Indian citizens

Documents required

  • Resident card or foreign passport
  • Relevant visa of overseas country
  • Overseas residential proof
  • 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 an NRE recurring deposit 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 (Ordinary) Recurring Deposit

  • Invest your savings in India
  • Hold the account jointly with loved ones in India
  • Compliant with Indian taxes

Simplify global banking with easy reads

Bite-sized resources that keep you informed

Financial wellness
A Guide to Budgeting and Saving with Your Bank

Blog
Boosting Resale Value on a Budget: The “Yes” and “No” List for Renovating

Blog
Financing Travel Adventures with Gold Loans

Blog
Top Tips for Negotiating the Best Gold Loan Interest Rates and Terms

Blog
7 Reasons It’s Time to Consider Taking a Business Loan

Blog
Beyond the Piggy Bank: Teaching Kids Financial Literacy

Blog
Unlocking Freedom: The Case for Owning a Car in the Age of Convenience

Blog
Is financing micro living with Home Loans recommended?

Blog
Myth Or Fact? Debunking Some Common Myths About Car Loans

Blog
6 Savings Account Mistakes to Avoid at All Costs

Blog
Common mistakes while availing personal loans and how to avoid them

Blog
5 Dos and Donts When Applying for Personal Loans

Blog
Leveraging Property-Based Loans for Business Growth

Blog
The Wisdom of Instant Gold Loans for Retired People - Unlock Financial Security

Blog
Dependancy Of Public Transport V/s Owning A Vehicle

Blog
Vehicle Loans for Aspiring Delivery Partners and Cab Drivers

Blog
Match made in banking heaven: Savings account edition

Blog
Furnishing your newlywed home with a Gold Loan

Blog
Financing Your Next Ride: A Guide to Buying Second-Hand Car with a Car Loan

Blog
Insta(nt) success: Business Loans for Small Businesses on Social Media

Blog
Is it Better to Buy an Apartment or an Independent House?

Blog
Earn more with vacation rentals over long-term renting: Loan against property

Blog
Navigating Personal Loans in your early 20s- Is it a Good Idea?

Blog
Savings Account: Breaking Norms and Building Wealth

Blog
Why should you go for a semi-furnished apartment?

blog
The Ultimate Guide to Savings Accounts

blog
Unlocking Financial Growth: The Ultimate Guide to Savings Accounts

Financial wellness
Empowering Your Financial Wellness: A Guide to Budgeting and Saving with Your Bank

Got questions? We’ve got answers.

What differentiates the NRE Recurring Deposit from other deposit options?

The NRE Recurring Deposit amplifies your overseas savings, offering a tax-free interest benefit, ensuring your financial growth aligns with your global ambition.

Absolutely, it bridges geographical divides, allowing joint holding with your resident close relatives.

Leverage our digital banking platforms like the KBL Mobile Plus app for a hassle-free, remote account opening experience

Yes, we offer an auto-renewal facility for all NRI Deposits. This allows your deposit to be automatically renewed upon maturity for the same tenure at the prevailing interest rate.

Yes, early withdrawal is possible, though it may involve certain conditions or penalties. Please contact us for specific details.

or off-site verification, you'll need attested photocopies of documents like your valid Indian Passport or Overseas Resident Card, Employment Visa/Work Permit/Student Visa/Overseas Resident Card, and communication address proof. Attestation can be done by authorized officials of overseas branches of Scheduled Commercial Banks registered in India, branches of overseas banks with whom Indian banks have relationships, Notary Public abroad, Court Magistrate, Judge, or Indian Embassy/Consulate General in your country of residence.

To download the KBL Mobile Plus app, visit the Google Play Store or Apple App Store on your mobile device. Search for 'KBL Plus' in the store, select the app published by Karnataka Bank, and click 'Install' to download it onto your device.

Designed for the global Indian, it offers flexibility in savings and free repatriation, aligning with your international financial needs.

Yes, the nomination facility is available for this deposit, allowing you to secure your investment for your loved ones.

Yes, our digital banking platform allows convenient online management from anywhere in the world.

Advantages of Non Resident (External) Recurring Deposit

The Non Resident (External) Recurring Deposit offers a unique blend of convenience and financial growth for NRIs.These cumulative deposit accounts allow your interest to be compounded quarterly or annually and reinvested with the principal amount, leading to appreciable returns over the deposit tenure. The principal and interest are fully repatriable, which means you can move your funds, including the interest earned, back to your resident country without any restrictions.

Recurring Deposits are a simple yet effective financial tool for steady savings. By allowing you to deposit a fixed amount every month, they help inculcate a disciplined approach to savings.The interest rates for NRE deposit accounts are attractive, providing NRIs with the opportunity to earn higher returns compared to regular savings accounts. The rates for cumulative deposits are determined by the prevailing economic conditions and the Reserve Bank of India's directives.

NRI services play a crucial role in bridging the financial needs of the Indian diaspora with the opportunities available in India. They provide a platform for NRIs to invest, save, and manage their earnings in their home country, even while they reside abroad. Services like NRI accounts, loans, and investment options ensure that NRIs can contribute to and benefit from India's economic growth. These services also aid in maintaining a financial connection with their homeland, which is crucial for those who plan to return or have familial and investment ties in India.