NRI Value-Plus Savings Account (2024)

Please note: We have discontinued the opening of NRI Value-Plus Savings Account w.e.f. Oct 1, 2023

Your NRI Value-Plus Savings Account will make your banking experience simple and convenient with online and phone banking facilities.

  • NRO and NRE Account with convenient way to manage funds from abroad
  • Easy balance requirement
  • International Gold Debit Card on NRE Accountand Domestic NRO Gold Debit Card on NRO Account

NRE Value-Plus Savings Account

Instant account opening kit

With an instant account opening kit you will have everything you require to conduct banking transactions instantly.

Easy balance requirement

With Value-Plus NRE Savings Account you have the freedom to either maintain a minimum Average Quarterly Balance (AQB^) of Rs. 100,000 in Savings Account or a minimum Assets Under Management (AUM^^) of Rs. 150,000 in your account to enjoy the various privileges of a Value-Plus Savings Account.

Complimentary International Gold Debit Card on NRE Account

Your Value-Plus Savings Account comes with a complimentary Gold Debit Card embedded with the following features

  • Flexible cash withdrawal and point of sale limits from Rs. 25,000 to Rs. 150,000
  • Earn 0.5 express rewards* for every Rs. 100 you spent
  • 2.5% petrol surcharge waiver** at all petrol pumps across India
  • Free acceptance at ATMs with leading International banks through Global ATM alliance network
  • Greater security with chip technology on all transactions
  • Lost card insurance of up to Rs. 2.5 lakhs on your card for 30 days prior to reporting and 7 days post reporting the loss to the Bank

Free consolidated quarterly statement with payee details

Avoid the complications of collating account statements from multiple accounts. We offer consolidated quarterly statements with payee details of all your Deutsche Bank accounts for your convenience.

Mandate facility for your loved ones in India

Designate your parent, friend or relative in India as your mandatee, to transact in your account with Deutsche Bank.

Connect with us

A host of convenient banking channels that allow you access to your funds through Online Banking, ATM Banking, Phone Bankingand SMS Banking

NRO Value-Plus Savings Account

Instant account opening Kit

With an instant account opening kit you will have everything you require to conduct banking transactions instantly.

Easy balance requirement

With Value-Plus NRO Savings Account you have the freedom to either maintain a minimum Average Quarterly Balance (AQB^) of Rs. 100,000 or a minimum Assets Under Management (AUM^^) of Rs. 150,000 in your account to enjoy the various privileges of a Value-Plus Savings Account.

Complimentary Domestic NRO Gold Debit Card on NRO Account

Avail complimentary Domestic NRO Gold Debit Card with the following features:

  • Flexible withdrawal and point-of-sale limits from Rs. 25,000 to Rs. 150,000
  • Express Rewards* on all transactions done for shopping, dining and other purchases
  • 2.5% petrol surcharge waiver** at all petrol pumps across India
  • Free acceptance at ATMs in Indiaand with leading International banks through Global ATM alliance network
  • Total Protection with complete privacy and zero liability across a variety of transactions

Free consolidated quarterly statement with payee details

Avoid the complications of collating account statements from multiple accounts. We offer consolidated quarterly statements with payee details of all your Deutsche Bank accounts for your convenience.

Mandate facility for your loved ones in India

Open the account jointly with your family member or designate your parent, friend or relative in India as your mandatee, to transact in your account with Deutsche Bank.

Connect with us

A host of convenient banking channels that allow you access to your funds through Online Banking, ATM Banking, Phone Bankingand SMS Banking

Refer a friend for loan

Refer and get rewarded with new generation smart gadgets!
Get a gift by simply referring your friends for a Loan from Deutsche Bank.

Refer now

Apply for NRI Value-Plus Savings Account

Apply Online

Call 18602666601#

#Customers outside India need to dial +91 22 6601 6601.
Customers in Mumbai can also call at +91 22 6601 6601. Call charges apply.

Useful Information

  • Documentation
  • Online Wealth Management System
  • Schedule of charges for NRI Value-Plus Savings Account

*Terms and Conditions apply.

    **The maximum petrol surcharge waiver per Deutsche Bank Gold Debit Cards in a calendar month will be restricted to Rs. 150.

      ^A minimum Average Quarterly Balance (AQB) of Rs. 100,000 in your account.

        ^^AUM includes a combination of Mutual Funds (excluding liquid MFs), Insurance, FDs and Savings Account Balance. A minimum Assets Under Management of Rs. 150,000 is required to be kept during a quarter.

        *This service is not available to citizens / residents of USA, Canada and any other country / jurisdiction which prohibits or restricts in any other manner, the sale and solicitation of Indian securities and any other financial products / services.

        Deutsche Bank AG, Mumbai Branch (“Bank”) of Deutsche Bank Aktiengesellschaft, a corporation duly organized and existing under the laws of Federal Republic of Germany is regulated in India by Reserve Bank of India. It offers NRI Accounts and related services under the Reserve Bank of India program for Non-Resident Indians and are governed by the rules in effect from time to time relating to such programs, are subject to the sovereign risk arising from, and governed by the laws of, or any changes to the laws of India. NR deposits with the Bank in India are not insured by any other insurance company or corporation outside India and are payable only at the branch of the Bank in India where the deposit is made. The insurance available is up to a maximum of One lakh provided by India's Deposit Insurance and Credit Guarantee Corporation. The information provided herein is not directed or intended to be used by any person or entity who is a citizen or resident of or located in any locality, state, country or other jurisdiction, where such distribution, publication, availability or use would be contrary to law, regulation within such jurisdiction or would subject the Bank or its affiliates to any licensing or registration requirements.

        NRI Value-Plus Savings Account (2024)

        FAQs

        What is a value plus savings account? ›

        With Value-Plus Savings Account you have the freedom to either maintain a minimum Average Quarterly Balance (AQB*) of Rs. 1 lakh in Savings Account or a minimum Assets Under Management (AUM**) of Rs. 1.5 lakh enjoy the various privileges of a Value-Plus Savings Account.

        What happens if NRI has savings account in India? ›

        As per the FEMA guidelines, there is no penalty for not declaring your NRI status. However, you must either close your existing savings account or convert it into a Non-Resident Ordinary (NRO) savings account as soon as possible. Failure to do so may result in legal and financial penances.

        Can I have a NRE account and savings account? ›

        As per the Foreign Exchange Management Act (FEMA) guidelines, an NRI cannot have a savings account in his or her name in India. You must convert all your savings (money earned abroad) to a Non-Resident External Account (NRE) or Non-Resident Ordinary (NRO) account.

        Can OCI have a savings account in India? ›

        Further, an OCI can open all types of accounts allowed to a Resident customer. A joint account with Resident Indian (RI) who is a close relative can also be opened subject to following conditions: Mode of operation permitted is 'Former (NRI) or Survivor' only.

        What are the three 3 types of savings accounts? ›

        Types of savings accounts
        • Regular savings account: earns interest and offers quick access to funds.
        • Money market account: earns interest and may provide check-writing privileges and ATM access.
        • Certificate of deposit, or CD: usually has the highest interest rate among savings accounts, but no access to funds.
        Apr 4, 2023

        What is the interest rate for savings Plus? ›

        Base interest

        Calculated daily and paid monthly regardless of transactional activity or balance. 2.55%p.a.

        Is it illegal for NRI to hold savings account? ›

        This means that it is "illegal" to hold a resident savings account after getting an NRI status. As per the law, the NRIs are mandated to convert their resident savings account to an NRO account to continue their financial transactions in India.

        Does NRI account need to pay tax in India? ›

        Yes, an NRI has to file an income tax return in India on income earned in India. NRIs have to pay tax on income that accrues or arises in India. NRIs also need to pay tax on income that is deemed to accrue or arise in India. Money received or deemed to be received in India is taxable.

        How much money NRI can keep in India? ›

        There are no restrictions on the amount of current income that NRIs can repatriate from their NRO account, including rent, dividends, pensions, interest, and so forth. Nevertheless, the amount of assets (other than current revenue) that can be remitted is limited to $1 million per fiscal year.

        Can I deposit USD in my NRE account in India? ›

        An NRE Account or Non-Resident External Account offers you this facility. Here, your money is converted into Indian Rupee or INR at the time of deposit. This means that you can deposit money in any foreign denomination, e.g. US Dollar and withdraw it in Indian Rupees.

        Can I keep my savings account in India if I move abroad? ›

        When you move overseas, your residential status changes to a Non-Resident Indian (NRI). As per the prevailing Foreign Exchange Management Act (FEMA) regulations, an NRI is mandated to either: Close the existing resident savings account in India and open a new NRI account; or.

        Which Indian bank is best for NRIs? ›

        Best NRE Accounts in India For NRIs
        • Kotak Mahindra Bank.
        • ICICI Bank.
        • SBI Bank.
        • HDFC Bank.
        • Axis Bank.

        Can a US citizen have a savings account in India? ›

        Answer: An NRO (current/ savings) account can be opened by a foreign national of non-Indian origin visiting India, with funds remitted from outside India through banking channel or by sale of foreign exchange brought by him to India.

        Which is better, OCI or NRI? ›

        The basic difference between NRI and OCI is that NRIs will continue to have their Indian citizenship, and the OCIs will have their respective citizenship based on the country of their origin. Yes, OCI cardholders can stay and work in India indefinitely.

        How long can a US citizen stay in India with OCI? ›

        An OCI card holder can stay in India for life time. It is important for an OCI card holder to ensure that they hold valid passports from their home country. In case the passport needs to be renewed then the OCI card holders have to get it renewed visiting their home country embassy in India.

        What does plus mean in bank account? ›

        A deposit is represented by a positive number, meaning an addition to your balance. There may be a situation where an Invoice is a positive amount, and this would indicate that an invoiced amount has been reversed/removed, therefore adding the funds back into your deposit account balance and available to be spent.

        What is Citibank savings Plus account? ›

        A Citibank Saving Plus Account is a demand deposit and earns interest from the first baht of savings. Customer may deposit or withdraw any amount to/from her/his available balance at any time she/he likes. This deposit product is under protection of Deposit Protection Agency within the coverage stipulated by the law.

        Is Advantage Plus banking a checking or savings account? ›

        The Bank of America Advantage Plus Banking® account comes with many common checking account fees, such as a $12 monthly fee and an overdraft fee of $10 per item. You can waive the monthly fee by meeting one of these requirements each statement cycle: Have at least one qualifying direct deposit of $250.

        What is the minimum balance for Advantage Plus savings? ›

        Checking account fees Advantage Plus Banking

        Bank of America Advantage Plus has a $100 minimum opening deposit and a $12 monthly maintenance fee which can be waived if you do one of the following: Make at least one qualifying Direct Deposit of $250 or more. Maintain a minimum daily balance of $1,500 or more.

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