The Rupee Checking Savings Account

The Rupee Checking Account is a savings account opened in India. The money deposited in to the account is converted to Indian Rupees, as per the foreign exchange rate2. You can operate the account like any other, from anywhere in the world. Your family in India can also make transactions, as a mandatee.
•
The account is for Non-Resident Indians and Indians travelling abroad on work with a valid passport and a valid H1/L1/J1/H1-B visa
•
The Rupee Checking Account can either be an NRE or NRO account
•
The Rupee Checking Account can be opened with an initial credit of USD 1000 (equivalent) and you can enjoy a waiver on the minimum balance for the next 10 years. In the absence of a specific offer Rs. 40000 needs to be maintained as minimum balance in the account. This earns you an interest of 3.5% per annum
•
You can deposit money into the account from anywhere in the world and enjoy privileges such as easy money transfers2 and FREE Demand Draft3 issuance and deliveries at over 700 locations in India
•
The Rupee Checking Account gives you the flexibility to transact on your account, from anywhere in the world.
•
You and your joint account holders (if any) will receive
- FREE International ATM / Debit Card
- Checkbook
- Online access to your account
•
Your mandatee (if any) in India will receive a
- FREE ATM / Debit Card
- Checkbook (if the facility is provided).

Many Needs, One Account

With the Rupee Checking Account, you can not only transfer money to India easily, but also do much more. It is an account that opens up a window to all your financial needs in India so that you can take care of your family from miles away.

With the Rupee Checking Account, you can -

•	Insure - Buy an Indian insurance policy, or pay the premiums of existing insurance policies. Protect your family and plan their lives Currently not available for Kenya, US & Canada based customers.
•	Invest - Tap the potential of the Indian economy. With the Citibank Rupee Checking Account, you can invest in various schemes , such as - Mutual Funds*, Deposits and Real Estate in India *Investments in India via the Rupee Checking Account is not applicable for customers residing in U.S.A., and Investments in India via Citibank Online is not applicable for customers residing in Canada & Australia.
•	Avail Home Loans - You can help your family in building their dream home. Avail a Citibank Home Loan, or pay the EMIs of home loans from other financial institutions
•	Pay Utility Bills - Pay the utility bills of your family in India - such as electricity, telephone and mobile bills, right from where you are
•	Send Gifts to India - Be part of every occasion that your family celebrates. All you have to do is, visit our Great Offers shopping page to start shopping online with your Citibank Rupee Checking Account Debit Card. Get up to 40% off on various merchandise

Non-Resident External Account (NRE account) can be a current / savings account held in India, in Indian Rupees. The account can be funded primarily by funds from abroad. In an NRE account -

•	The principal amount and the interest are fully repatriable (can be converted to any foreign currency)
•	Income from the interest on the amount is non-taxable
•	The money from the account can be transferred to any other account
•	The interest earned in the savings account is 3.5% per annum4. The current account is a non- interest bearing account.
Non-Resident Ordinary Account (NRO account) is a current / savings account held in India, in Indian Rupees. An NRO account is best suited for NRIs who have sources of income in India, such as rent, interest gained from any mutual fund, pension, etc.

In an NRO account -

•	Current Income like rent, dividend, pension can be remitted abroad through the NRO account. Funds which can be repatriated from the NRO are subject to a maximum limit of USD 1 million per financial year.
•	Income from the interest on this account is liable for Indian Income Taxes
•	The interest earned in the savings account is 3.5% per annum4. The current account is a non- interest bearing account.