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I am from Dubai ad planning to shift in India wants to open an NRI account in Punjab National Bank searching for details. Can you provide me complete details about how NRI Account Opening In PNB along with scheme to open an account also tell advantage of that scheme?

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Foreign Currency Non-Resident (Banks)Accounts - "FCNR"

Non-Resident Indians can open accounts under this scheme. The account should be opened by the non-resident account holder himself and not by the holder of power of attorney in India.

NRI Account Opening In PNB details



Advantages Of FCNR (B) Deposits

Principal alongwith interest freely repatriable in the currency of your choice.

No Exchange Risk as the deposit is maintained in foreign currency.

Loans/overdrafts in rupees can be availed by NRI depositors or 3rd parties against the security of these deposits. However, loans in foreign currency against FCNR (B) deposits in India can be availed outside India through our correspondent Banks.

No Wealth Tax & Income Tax is applicable on these deposits.

Gifts made to close resident relatives are free from Gift Tax.
Facility for automatic renewal of deposits on maturity and safe custody of Deposit Receipt is also available.

Contact:

Corporate Office:
Punjab National Bank
Resource Mobilization Division
Head office-Rajendra bhawan
Rajendra place,
New Delhi – 110008 (INDIA)
E‐MAIL ID: rrmd@pnb.co.in
PHONE NO : +91‐11‐25755773
FAXNO. : +91‐11‐25755779