# NRIs
(individuals/entities of Bangladesh/Pakistan nationality/ownership require
prior approval of RBI).
# Joint
Account facility
Account can be held jointly by a NRI
(persons of Indian nationality or origin) / with a Resident Indian (Former or
Survivor basis). A Resident Indian can operate the account only as a Mandate /
POA holder. The Resident Indian must be a close relative as defined in Section
6 of the Companies act, 1956.
# Currency
in which account maintained
Indian
Rupees (INR)
# Repatriation
Principal
and interest are fully repatriable
# Mandate
Holder
An
Indian resident can be authorized to operate the account and provided with an
ATM card for the account
# Interest
Rate
Rate
as advised by Bank from time to time as per stipulated guidelines and will be
displayed on the website
# Taxation
Interest
earned is exempted from Tax in India
NRO
Savings Account
· # Any person resident outside India
(other than a person resident in Nepal and Bhutan).
·
Individuals/entities of Pakistan
Nationality/ownership, entities of Bangladesh ownership and erstwhile Overseas
Corporate Bodies require prior approval of Reserve Bank of India.
# Joint Account facility- Account can be held jointly by a
NRI (persons of Indian nationality or origin) / with a Resident Indian
· # Currency in which account maintained
·
Indian Rupees (INR)
# Repatriation
RBI
allows repatriation only for i) current income ii) up to USD one million per
financial year (April-March), for any bonafide purpose after payment of
applicable taxes.
# Mandate
Holder
An
Indian resident can be authorized to operate the account and provided with an
ATM card for the account
# Interest
Rate
Rate
as advised by Bank from time to time as per stipulated guidelines and will be
displayed on the website
# Taxation
Interest
is taxable under Indian Income Tax Act
RFC
Savings Account for Returning NRIs
# A
Resident Foreign Currency Savings Account can be opened by NRIs who have
returned for permanent settlement after being resident outside India for a
continuous period of not less than one year. These funds can be transferred to
an NRE/FCNR account upon change of status to NRI again.
# Joint
Account facility
Account can be held jointly by eligible Returning NRI
with a Resident Indian (Former or Survivor basis). The Resident Indian must be
a close relative as defined in Section 6 of the Companies act, 1956.
# Currency
in which account maintained
US
Dollar (USD), Great Britain Pound (GBP)
# Repatriation
Funds are repatriable for
bonafide purposes
# Mandate
Holder
N.A.
# Interest
Rate
Rate as advised by Bank from
time to time as per stipulated guidelines and will be displayed on the website
# Taxation
Interest earned is exempted
from Tax in India provided Resident but Not Ordinarily Resident (RNOR) status
is held as per the Income Tax Act
A) Status Proof
In case you are a Non-Resident
Indian (NRI account documents)
|
If you’re a Person Of Indian
Origin (PIO)
|
Photocopy
of the relevant pages of your current passport where your name, address, date
of birth, date & place of issue, expiry date, photograph & signature
appear
|
Requirement:
The Photocopy of the relevant pages of your current passport (in which your
name, address, date of birth, date & place of issue, expiry date,
photograph & signature is mentioned)
|
Also,
the photocopy of Valid Visa / IKAMA (only for GCC) / Overseas Citizen of
India card
Others:
The permanent Residency Card issued by USA and Singapore can be accepted in
lieu of Visa
|
Photocopy
of the PIO Card (If available) OR
One
has to fill in the self-declaration for PIO on the form
|
B) Overseas Address Proof (Anyone)
The documents mentioned below are accepted as an overseas
address proof (anyone):
·
Valid Overseas Passport
·
Valid Driving License
·
Any relevant utility bill -
Electricity / Telephone / Mobile (original bill) / Piped Gas / Broadband /
Water Bill (not more than 3 months old)
·
Credit Card Bill along with
photocopy of credit card (not more than 3 months old)
·
1-month bank account statement on
bank's stationery (it should not be more than 4 months old) along with at least
1 customer-initiated transaction
·
Depository Participant (DP) account
statement on bank's stationery (not more than 3 months old) with at least 1
customer-initiated transaction of at least 1 month
·
Banker's verification on bank's
stationery
·
Not more than one-year old: Wealth/
Income/ Sales/ Service Tax Assessment Order
C) Identity Proof (Anyone)
The documents mentioned below are accepted as Identity proof
(Anyone):
·
Valid Passport
·
PIO Card i.e. applicable only in
case of PIOs
·
Valid Driving License
·
Voter’s ID card
·
Photocopy of Bank statement or
passbook of an NRI account with another Scheduled Commercial Bank in India not
more than four months old with at least one customer-initiated transaction.
(Only if it contains Photograph)
·
Overseas Citizen of India card
·
There should be a valid Photo ID
Cards issued by any of the following Organizations/Institutions:
·
Central / State Government
Ministries and Departments
·
Statutory / Regulatory authorities
(e.g. Insurance Regulatory and Development Authority, National Highway
Authority of India, Securities Exchange Board of India, Airports Authority of
India, Directorate General Civil Aviation, All India Council of Technical
Education, Reserve Bank of India, Indian Banks’ Association, Telecom Regulatory
Authority of India, Central and State Electricity Regulatory Commissions, Bar
Councils, Institute of Chartered Accountants of India etc.)
·
PSUs established under Central /
State Govt.
·
Pension Book /Card / Freedom
Fighter’s Pass
·
Senior Citizens Card
·
Ministry / Department of Defense for
personnel & their dependents
·
Public Financial Institutions
II) Here are the additional documents required if you have
not met any Bank official yet
·
You will need to get photocopies of
supporting documents duly attested by Indian Embassy or (High Commission or
Bankers verification).
or
·
Self-certify the copies of documents
and furnish anyone self-signed additional identity proof
III) Mandate-Holder Documentation
If
there is a need to add a Mandate Holder needs to the account then please submit
an Identity proof, Address proof and Signature proof (Not required if the
current passport has a signature) of the Mandate Holder. The Mandate Holder
will need to self-attest the photocopies of all his / her documents submitted
as proof of the documents.
If
you’re sending the form directly from abroad, you will need to send the Mandate
Letter to your appointed Mandate Holder who resides in India.
The
appointed Mandate Holder would require submitting the completed form, along
with the documents, in person at any of the YES BANK branches in India. The
mandate holder will have to carry his / her documents in original for
verification purposes.
IV) Seafarers Account
A.
Going on a new fresh contract:
·
You’ll need a photocopy of Passport
with Visa (first four pages of the passport as well as the page indicating last
date of arrival in India OR Copy of Passport and separate proof of NRI status
(in case the Visa / Permit is not included in the passport)
·
Valid Contract Copy
·
Continuous Discharge Certificate
(CDC) booklet copy with your name, other details & the latest discharge
stamping (optional if contract valid)
·
Mailing address proof required.
Overseas address proof not mandatory.
B.
NRI Savings account documents
required:
List of additional documents to be provided in case of a Permanent Employee
List of additional documents to be provided in case of a Permanent Employee
·
Initial work contract &
·
Last wage slip (within last 6
months)
If
you are a Contract Employee, then you also need to provide the last work
contract valid as on date.
C.
In case you have just back from a
contract & are on a break:
·
In case your last contract letter is
no longer valid/ expired within last the 9 months similar would be accepted
without need of new contract letter confirmation from local agent (a local
agent is an individual /entity which coordinates and helps placement of
seafarers in shipping companies), provided CDC is valid (as on date of account
opening), as CDC is a sufficient proof of NRI status.
·
If the person doesn’t have a CDC but
holds a valid VISA, then last contract letter will be accepted as above, if the
passport shows immigration seal within the last 6 months.
·
In case of expiration of the contract
letter prior to 9 months, a letter from a local agent that will confirm the
next date of joining vessel or current work contract letter will be required.
·
Any declaration by Seafarers
(Provided in the Account Opening Form)
D.
Additional Information:
·
There is no need for a CDC copy for
crew members employed with cruise liners.
·
As this is a seafarer account the
permanent address proof would be mandatory.
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