Who can open an IndusInd Bank NRO Account?

NRIs and Persons of Indian Origin (PIOs) can open an IndusInd Bank NRO Account.

What currency can I hold in an IndusInd Bank NRO Account?

You can hold funds in Indian Rupees (INR) in an IndusInd Bank NRO Account.

What is the repatriation limit for an IndusInd Bank NRO Account?

You can repatriate up to USD 1 million per financial year from an IndusInd Bank NRO Account after paying taxes.

What are the tax rules for an IndusInd Bank NRO Account?

Interest earned in an IndusInd Bank NRO Account is subject to 30% TDS along with applicable cess.

Can I open a joint IndusInd Bank NRO Account?

Yes, you can open a joint IndusInd Bank NRO Account with another NRI or a resident Indian.

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Disclaimer: # The investment risk in the portfolio is borne by the policyholder. Life insurance is available in this product. The maturity amount of Rs 1 Cr. is for a 30 year old healthy individual investing Rs 10,000/- per month for 30 years, with assumed rates of returns @ 8% p.a. that is not guaranteed and is not the upper or lower limits as the value of your policy depends on a number of factors including future investment performance. In Unit Linked Insurance Plans, the investment risk in the investment portfolio is borne by the policyholder and the returns are not guaranteed. Maturity Value: ₹1,05,02,174 @ CAGR 8%; ₹50,45,591 @ CAGR 4%. All plans listed here are of insurance companies’ funds.

IndusInd Bank NRO Account

Q: What is an IndusInd Bank NRO Account?

An IndusInd Bank NRO Account is a Non-Resident Ordinary account for NRIs to manage income earned in India, like rent or dividends.

IndusInd Bank NRO Account helps NRIs manage income earned in India, like rent, dividends, or pensions. The account is in Indian Rupees and allows deposits easily. You can also repatriate funds as per RBI rules. It offers good interest rates, different account options, and 24/7 online access.

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What is an IndusInd Bank NRO Account?

An IndusInd Bank NRO (Non-Resident Ordinary) Account is specially designed for Non-Resident Indians (NRIs) to manage their income earned in India. This account allows NRIs to deposit and handle funds such as rent, dividends, pensions, or other income generated within India. It operates in Indian Rupees and provides convenient banking facilities like withdrawals, online transfers, and bill payments. The account offers competitive interest rates, ensures compliance with tax regulations, and enables NRIs to manage their finances in India seamlessly.

Types of IndusInd Bank NRO Account

IndusInd Bank NRO Fixed Deposit
- The deposit is maintained in Indian Rupees, making it ideal for managing Indian income.
- Open the deposit for tenures ranging from 7 days to 10 years, offering flexibility.
- Repatriate up to USD 1 million annually (for genuine purposes like education, medical expenses, etc.).
- Interest earned is subject to a 30% tax (plus applicable surcharge and cess).
- Enjoy quarterly compounding on the interest earned, maximizing returns.
IndusInd Bank NRO Savings Deposit
- Access funds within India through a domestic debit card.
- Receive a free payable-at-par cheque book for use in India.
- Easily transfer funds to India via online and telegraphic options.
- Access top-tier services: Net Banking, Mobile Banking, and Video Branch.
- Earn up to 7% interest on savings.
- Perfect for managing local income like rent or dividends.
- Repatriate up to USD 1 million annually (for genuine purposes like education, medical, etc.).
- Account balances are maintained in Indian Rupees, ideal for managing local earnings.

IndusInd Bank NRO Savings Account Interest Rates

Daily Balance	Interest Rate p.a.
Up to Rs. 1 Lakh	3.00%
Above Rs. 1 Lakh to Rs. 5 Lakhs	4.00%
Above Rs. 5 Lakh to Rs. 10 Lakhs	6.00%
Above Rs. 10 Lakh to Rs. 5 Crs	7.00%
Above Rs. 5 Crs to Rs. 100 Crs	7.00%*

*Flat Rate is applicable to the entire balance.

IndusInd Bank NRO Term Deposit Account Interest Rates ~w.e.f. 26 November 2024

Tenure	Domestic (Resident)	NRE / NRO	Senior Citizen
1 Year to <1 Year 3 months	7.75%	8.25%	8.25%
15 months to <16 months	7.75%	8.25%	8.25%
1 Year 4 months to < 1 Year 5 months	7.75%	8.25%	8.25%
1 Year 5 months to <1 Year 6 months	7.99%	8.49%	8.49%
1 Year 6 months to 2 Years	7.75%	8.25%	8.25%
>2 Years to <2 Years 6 Months	7.25%	7.75%	7.75%
30 months to <31 months	7.25%	7.75%	7.75%
2 years 7 months to 3 years 3 months	7.25%	7.75%	7.75%
>3 years 3 months to <61 months	7.25%	7.75%	7.75%
≥61 months	7.00%	7.50%	7.50%

Note: Interest is compounded quarterly. For tenures up to 180 days, interest will be paid on maturity (simple interest).

Eligibility Criteria to Apply for IndusInd Bank NRO Account

The IndusInd Bank NRO account is available for:

Non-Resident Indians (NRIs)
Persons of Indian Origin (PIOs)
Indian seafarers working for overseas shipping companies
Students studying abroad

Documents Required to Open IndusInd Bank NRO Account

Recent passport-sized photograph
Photocopy of the passport (including personal details)
Permanent Account Number (PAN) card or Form 60 if PAN is unavailable
Valid proof of NRI status (e.g., work permit, resident permit)
Address proof (overseas address for PIOs)
For seafarers: Copy of Continuous Discharge Certificate (CDC) and employment contract

Benefits of Opening IndusInd Bank NRO Account

The key benefits of saving your funds in an IndusInd Bank NRO Account are as follows:

Tax Savings on Interest: Interest earned on NRO accounts comes with tax exemptions, making it ideal for managing Indian income like rent or dividends.
Repatriation Flexibility: Transfer up to USD 1 million annually to foreign accounts, ensuring financial independence.
Simplified Currency Management: Maintain funds in Indian Rupees, avoiding currency conversion hassles for Indian income.
Convenient Digital Banking: Access online banking for quick fund transfers, bill payments, and easy account management worldwide.
Diverse Investment Options: Use your NRO account to invest in India’s financial products and benefit from its growing economy.
Personalized Customer Support: Enjoy assistance from a dedicated relationship manager for smooth banking services.
Hassle-Free Account Opening: Open your account with basic documents like a passport, PAN card, and proof of NRI status.

Conclusion

The IndusInd Bank NRO Account offers NRIs an easy way to manage income earned in India, such as rent and dividends. Enjoy features like digital banking, low balance requirements, repatriable interest, and attractive rates. Ideal for seamless rupee earnings management. Open an NRO Account today and experience secure, convenient banking tailored for NRIs.

FAQs

What is an IndusInd Bank NRO Account?

An IndusInd Bank NRO Account is a Non-Resident Ordinary account for NRIs to manage income earned in India, like rent or dividends.
Who can open an IndusInd Bank NRO Account?

NRIs and Persons of Indian Origin (PIOs) can open an IndusInd Bank NRO Account.
What currency can I hold in an IndusInd Bank NRO Account?

You can hold funds in Indian Rupees (INR) in an IndusInd Bank NRO Account.
What is the repatriation limit for an IndusInd Bank NRO Account?

You can repatriate up to USD 1 million per financial year from an IndusInd Bank NRO Account after paying taxes.
What are the tax rules for an IndusInd Bank NRO Account?

Interest earned in an IndusInd Bank NRO Account is subject to 30% TDS along with applicable cess.
Can I open a joint IndusInd Bank NRO Account?

Yes, you can open a joint IndusInd Bank NRO Account with another NRI or a resident Indian.

˜Top 5 plans based on annualized premium, for bookings made in the first 6 months of FY 24-25. Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by any insurer. This list of plans listed here comprise of insurance products offered by all the insurance partners of Policybazaar. For a complete list of insurers in India refer to the Insurance Regulatory and Development Authority of India website, www.irdai.gov.in
*Past 10 Year annualised returns as on 01-02-2025
*All savings plans are provided by the insurer as per the IRDAI approved insurance plan. Tax benefit is subject to changes in tax laws. Standard T&C Apply
^The tax benefits under Section 80C allow a deduction of up to ₹1.5 lakhs from the taxable income per year and 10(10D) tax benefits are for investments made up to ₹2.5 Lakhs/ year for policies bought after 1 Feb 2021. Tax benefits and savings are subject to changes in tax laws.
#The investment risk in the portfolio is borne by the policyholder. Life insurance is available in this product. The maturity amount of Rs 2 Cr. is for a 30 year old healthy individual investing Rs 18,000/- per month for 30 years, with assumed rates of returns @ 8% p.a. that is not guaranteed and is not the upper or lower limits as the value of your policy depends on a number of factors including future investment performance. In Unit Linked Insurance Plans, the investment risk in the investment portfolio is borne by the policyholder and the returns are not guaranteed. Maturity Value: 1,06,79,507 @ CAGR 4%; 2,12,15,817 @ CAGR 8%. All plans listed here are of insurance companies’ funds. *Tax benefits and savings are subject to changes in tax laws. All plans listed here are of insurance companies’ funds.
¶Long-term capital gains (LTCG) tax (12.5%) is exempted on annual premiums up to 2.5 lacs.
**Returns are based on past 10 years' fund performance data (Fund Data Source: Value Research).