According to a World Bank Report, India received approximately 87 billion dollars in remittances in 2021, testifying the diaspora’s role in the economic betterment of the nation
IndusInd Bank is celebrating its “NRI Homecoming” festival, offering products and services with attractive benefits to NRI customers.
An overwhelming majority of Indians who are settled in Canada continue to have close cultural, familial and economic ties to India, with many visiting to see family and friends nearly every year.
According to a World Bank Report, India received approximately 87 billion dollars in remittances in 2021, testifying the diaspora’s role in the economic betterment of the nation. While remittances are sometimes made for trade and investment, they are, more commonly, sent for paying rent, paying EMIs on loans or simply for “family maintenance” purposes.
With Covid-19 cases declining and prohibitions on travel removed, most non-resident Indians (NRIs) and their families are looking forward to a reunion.
In order to welcome NRIs visiting India after a long gap, IndusInd Bank is celebrating its “NRI Homecoming” festival – a festival that sees an assortment of attractive banking services & products being offered to NRIs – with a bit of extra gaiety, giving out the best of offers and rewards.
Most NRIs need an Indian bank account either to manage their income originating in India, or to deposit their foreign earnings, availing the relatively higher rates of interest in India.
There are namely two types of savings accounts that NRIs can open for fulfilling these needs:
No. 1: Non-resident external (NRE) account for parking foreign earnings.
No. 2: Non-resident ordinary (NRO) account for keeping and managing income earned in India via rent, dividends or pension.
In order to make this homecoming extra memorable, IndusInd Bank will provide the following to every NRI customer who opens an account during this festival:
- Attractive interest rates on NRE/NRO savings accounts
- Higher returns on fixed deposits
- Lifestyle benefits such as concierge service and financial advisory workshops
- Complimentary heritage walks across select cities of India
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