NRO Recurring Deposit Eligibility
- To meet the eligibility criteria for NRO Recurring Deposit, you must be
- A Non-Resident Indian (NRI)
- A Person of Indian Origin (PIO).
Introduction
Discover the ease and benefits of HDFC Bank's NRO Recurring Deposit, designed to help Non-Resident Indians save systematically. Learn about the straightforward eligibility criteria to start your secure and rewarding investment journey.
FAQs
To be eligible for an NRO Recurring Deposit, you should either be a Non-Resident Indian or a Person of Indian Origin (PIO).
For HDFC Bank’s NRO Recurring Deposit, the minimum amount you must invest is ₹1,000. Thereafter, you can invest in multiples of ₹100 up to ₹1,99,99,900.
The primary restrictions for NRO RDs entail the deposit term. You must hold the deposit for a minimum period of 6 months, with subsequent periods in multiples of 3 months, up to a maximum term of 10 years. Additionally, a 1-month lock-in period applies to the NRO RD. Early closure within this period results in a refund of the principal amount only, with no interest payable.