Features of Bandhan Bank NRE Account
NRE accounts offer multiple features to the users, some of which are:
- Direct Remittance: Funds can be sent directly from your overseas bank account to your NRE account.
- Competitive Exchange Rates: The bank offers favourable exchange rates when converting your foreign currency into rupees.
- Account Options: You can open various types of accounts under the Bandhan Bank NRE scheme, including a Savings Account, Fixed Deposit, and Recurring Deposit.
- Easy and Safe Banking: You can manage your account conveniently and securely through Net Banking, Phone Banking, and Mobile Banking.
- Repatriation: Both the principal amount and the interest you earn can be fully and freely transferred back to your country of residence.
- Prone to Exchange Rate Fluctuations: The value of your deposits is subject to changes in currency exchange rates.
Bandhan Bank NRE Account Fixed Deposits Interest Rate
| Maturity Bucket |
Interest Rates for Non-Senior Citizens |
| 1 year |
7.10% |
| 1 year 1 day to 1 year 9 months |
7.00% |
| 1 year 9 months 1 day to less than 2 years |
7.00% |
| 2 years to less than 3 years |
7.30% |
| 3 years to less than 5 years |
7.00% |
| 5 years to up to 10 years |
5.85% |
*Interest rates are applicable from August 2025. Rates are subject to change.
Eligibility Criteria to Open a Bandhan Bank NRE Account
To open a Bandhan Bank NRE Account, the following candidates are eligible to apply:
- Non-Resident Indian of Indian nationality or of Indian origin
- Indian residents living abroad for any of the following purposes:
- Employment
- Studies
- Business or vocation
- An individual posted in the UN organisation or an official deputed abroad by the Government of India or public sector undertakings
- Indian nationals who may be mariners, working on oil rigs, or foreign registered airlines
- PIO (Person of Indian origin)/OCI (Overseas Citizen of India)
- An individual holding a foreign passport (other than Pakistani and Bangladeshi) fulfilling any of the below criteria:
- Has held an Indian passport at any point of time
- Individual’s parent or grandparent was an Indian citizen as per the Constitution or the Citizenship Act of 1955.
Please contact your branch for further details.
Documents Required to Open a Bandhan Bank NRE Account
The documents required to open a Bandhan Bank NRE Account depend on whether you are using an Indian or a foreign passport.
-
Using Indian Passport
- Valid Identity proof – Indian Passport will suffice
- NRI/PIO proof – Visa/Resident Permit/Overseas ID
- Recent passport-size photograph
- Tax details – PAN/Form 60 (if PAN is not available) and Tax Identification Number in FACTA
- Address proof (anyone):
- Passport
- Driver's Licence
- National Population Register
- Certificate of Voter Registration/Electoral Register Entry/Voter’s ID issued by the Government of India
- NREGA Card
- Resident Permit Cards bearing the address
- Aadhaar/E-aadhaar
-
Using Foreign Passport
- Identity proof – valid foreign Passport will suffice
- NRI/PIO proof – PIO/OCI Card or any one of the below:
- Self-attested copy of Indian Visa
- Self-attested copy of the cancelled Indian Passport of the applicant
- Self-attested copy of Indian Passport (valid or cancelled) of spouse/parent/grandparent/great grandparent of applicant + relationship proof copy
- Self-attested copy of PIO/OCI card of Spouse/parent/grandparent/great grandparent of applicant + relationship proof copy
- PIO declaration (only possible if your place of birth is India)
- Passport-sized photograph
- Tax details – PAN/Form 60 (if PAN is not available) and Tax Identification Number in FACTA
How to Open a Bandhan Bank NRE Account
Follow the given steps to open a Bandhan Bank NRE Account:
Step 1: Go to the official website of Bandhan Bank
Step 2: Go to ‘NRI Section’
Step 3: Click on Savings/ Deposits
Step 4: Click on the NRE account you wish to open
Step 5: Click on ‘Apply Now’
Step 6: Fill in the Details
Step 7: Click on ‘Submit’
Step 6: Bank personnel will call you, and your NRE account will be opened.
Benefits of Opening a Bandhan Bank NRE Account
The benefits of opening a Bandhan Bank NRE account are:
- Attractive Returns: Your savings and deposits in the NRE account can grow with competitive interest rates.
- Tax-Free Interest: All interest earned on your NRE account is completely exempt from income tax in India.
- Seamless Digital Banking: You can manage your account and conduct various transactions easily through the bank’s secure digital banking channels.
- Debit Card Benefits: The account comes with a debit card that offers exclusive benefits and higher transaction limits.
- Wide Range of Branches: You can access your account and avail services from a vast network of Bandhan Bank branches across India.
Conclusion
The Bandhan Bank NRE Account provides a secure and feature-rich banking solution for Non-Resident Indians. With its range of account types, competitive interest rates, and key benefits like tax-free earnings and full repatriation, it stands as a reliable option for managing foreign income. The account's convenient access, coupled with excellent digital banking services, makes it an ideal investment option for NRIs looking to maintain a strong financial connection with India.
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