Canara Bank is offering facilities which made available to Non-Resident Indians (NRI) / Persons of Indian Origin (PIO) for Investments in India. NRI can opt for different types of accounts like savings account, current account and term deposit in Indian rupees as per their specifications. The term for deposits is minimum 1year and maximum 3 years.The rate of interest fixed is within the ceiling rate announced by RBI form time to time, which is at present linked to the LIBOR rates. The rate of interest on NRE savings deposit account shall be the rate applicable to domestic saving deposits. Accounts can be opened by remittances from abroad through personal cheques / DD / TT/ transfer from existing NRE account and foreign currency notes and TCs brought during the temporary visit to India by the NRI. Loans / overdrafts in India to the NRI are available against security of the deposits.
Corporate Banks, Commercial Bank