All You Need To Know About NRI Banking Services At Axis Bank

Updated on: 2022-11-01 - 10 mins read

Axis Bank NRI Banking ServicesNRI ServicesNRE AccountNRO AccountNRE Fixed DepositsAxis Bank

Axis Bank is India's third largest private sector bank. The bank provides a wide range of retail, corporate, and international financial services. Non-Resident Indians (NRIs) who relocate to other countries can create an NRI account with Axis Bank to save money or to facilitate international financial transfers. NRIs and PIOs (Persons of Indian Origin) above 18 can open an Axis Bank NRI account to manage their global and Indian income.

Axis Bank NRI account opening online
Axis NRI Account Types
Documents required for Axis NRI account
Interest rates on Deposits for Axis Bank NRI account
Receive international funds with Axis Bank
Send money abroad with Axis Bank
Axis Bank Forex Cards
Axis Bank Home Loan for NRI
Some FAQs
Axis Bank NRI Customer care numbers
Useful Links

1. Axis Bank NRI account opening online

Source: https://www.axisbank.com/nri/accounts

The following are the processes for creating an Axis Bank NRI account online:

Visit Axis Bank's official website and navigate the NRI account page.
On the website, click the Open NRI Account option. The new user Registration form will be shown.
Fill out the Axis Bank NRI account application form.
Print the application form and sign it in the appropriate sections.
Upload the application form as well as the necessary confirmed KYC papers.
After the papers have been verified, the bank will arrange for document collection.

If you are in India, you can visit an Axis Bank office to open an NRI account. Talk to a customer service rep at Axis Bank NRI. Please fill out the Axis Bank NRI account opening form and send it to the bank with the required documents. click here for more details

2. Axis NRI Account Types

Axis Bank NRE Account: Non-Resident External Savings Account

Source: https://www.axisbank.com/nri/accounts

Axis Bank NRE account is a rupee-denominated account in which NRIs can lodge their foreign-earned income. NRIs can use this account to deposit overseas payments and earn tax-free interest in India. NRE accounts can be opened online or in person at a bank. The main benefits of an Axis Bank NRE account are that interest isn't taxed in India and funds can be sent back to India at any time, and access to the internet and banking services on a mobile phone.

Axis Bank NRO Account: Non-Resident Ordinary Savings Account

Source: https://www.axisbank.com/nri/nro-savings-account

NRIs can open Axis Bank NRO savings accounts to deposit and manage their India-based income, such as rent, pension, existing savings, and dividends. The following are the main advantages of Axis NRO accounts:

For easy deposit and administration of revenue received in India.
Parents/relatives are permitted to operate the account without the NRI.
Ease of use and availability of the internet and mobile banking.

Axis NRI Prime Savings Account

Axis premier savings account offers more exciting features and perks than a conventional savings account, such as increased transaction limits and lifestyle rewards.

The benefits of the prime savings account are:

Low minimum monthly balance requirement of Rs. 25,000.
Visa platinum debit card.
Daily cash withdrawal of Rs. 40,000 and shopping Rs. 2 lakh (NRE) & Rs. 1 lakh (NRO)

Particulars	Details
Monthly Minimum Balance	₹25,000 or ₹1,00,000 term deposit
Benefits	Low minimum monthly balance requirement of Rs. 25,000 or maintain 1 Lakh as Term Deposits Daily Cash Withdrawal Rs. 40,000 and Shopping Rs. 2 Lakh (NRE) Daily Cash Withdrawal of Rs. 40,000 and Shopping Limit of Rs. 1 Lakh (NRO)
Eligibility	Individuals that are eligible to create an NRE/ NRO Savings Account include: NRI (Non Resident Indian) An Indian citizen residing outside of India for: Employment, education, business, or vocation Individuals serving in UN agencies, officials deputed overseas by the Government of India, or public sector undertakings. PIO (person of Indian origin)/OCI (overseas Chinese national) (Overseas Citizen of India) An individual with a foreign passport (other than a Pakistani or Bangladeshi passport) who: Has held an Indian passport at any point in time Parent or grandparent was a Citizen of India under the Indian Constitution or the Indian Citizen Act 1955 Is a spouse of an Indian Citizen or spouse of a PIO
Fees & Charges	The Prime Savings Account fees and charges include annual fees, replacement fees, chequebook fees, account closure fees, transfer fees and certain penalties (if any, such as minimum balance penalty) amongst others. Some Prime Savings Account fees are however subject to certain waivers.

Axis Mariner Savings Account

This account is made just for mariners and people who work on the water. Not only does the account holder get the benefits, but so does his family.

The key benefits of a mariner savings account are as under:

Free personal accident cover.
two2 free international ATM withdrawals on the NRE card.
Better remittance rates for sending money home.

Particulars	Details
Monthly Minimum Balance	₹10,000 or ₹1,00,000 term deposit
Eligibility	Indian nationals who may be Mariners or working on oil rigs
Fees & Charges	The Mariner Savings Account fees include annual fees, replacement fees, checkbook fees, account closure fees, transfer fees, and specific penalties (if any, such as minimum balance penalty). Some Mariner Savings Account fees are, however, subject to certain waivers.

Axis Priority Savings Account

Axis Bank’s priority banking services take the concept of exclusivity and privilege to a new level. Axis Bank’s priority savings account offers its customers various preferential services like lifestyle benefits, entertainment offers, and preferential rates.

Particulars	Details
Monthly Minimum Balance	₹2,00,000 quarterly or minimum relationship value of ₹4,00,000+
Eligibility	Maintain an average quarterly balance (AQB) of Rs. 2 lakhs in your Priority Savings Account Maintain an average quarterly balance (AQB) of Rs. 4 lakhs in your linked Priority Savings Account and Priority Current Accounts Maintain a Total Relationship Value (TRV) of Rs. 15 lakhs across Priority Savings, Current Accounts, Fixed Deposits, Mutual Fund Investments, a recurring deposit (RD), a fixed deposit (FD), a recurring deposit Priority Salary customers should get at least Rs. 1 lakh in net salary credit every month. Or a wire transfer or remittance from outside the country of at least 20 lakhs in the last 12 months.
Fees & Charges	The Priority Savings Account charges include annual fees, replacement fees, chequebook fees, account closure fees, transfer fees, and specific penalties (if any, such as minimum balance penalty). Some Priority Savings Account fees are, however, subject to certain waivers.

Axis Burgundy Account

Burgundy gives you a genuinely high-end and all-around banking experience with its world-class personal banking benefits, custom services, and integrated wealth management solutions.

Particulars	Details
Monthly Minimum Balance	₹10,00,000 quarterly or minimum relationship value of ₹30,00,000
Eligibility	Criteria for ongoing eligibility, based on a Customer ID or a Family ID#: Maintenance of an Average Quarterly Balance of ten lakhs in the Savings Account, Or Maintenance of an Average Quarterly Balance of ₹ ten lakhs across Savings Accounts and Current Accounts, Or Maintenance of a minimum Total Relationship Value (TRV) of ₹30 lakhs, Or Maintenance of a minimum Total Relationship Value (TRV) of ₹ one crore, which includes Demat holdings, Or A salaried customer must have a net salary credit of more than 3 lakhs in the Axis Bank Salary Account every month. Or You must have received at least 40 lakhs in foreign inward remittances through wire transfer or Remit Money in the last 12 months (Only for NRIs)
Fees & Charges	The Burgundy Savings Account fees include annual fees, replacement fees, checkbook fees, account closure fees, transfer fees, and specific penalties (if any, such as minimum balance penalty), amongst others. Some Burgundy Savings Account fees are, however, subject to certain waivers.

3. Documents required for Axis NRI account

Here is the checklist of Axis Bank NRI documents:

For NRIs

Copy of a valid Indian passport, including the first and final pages
Copy of a valid visa (Employment/Residence/Student/Dependant), Permanent resident permit/work permit/family card/Government issued document/trade license Utility bills: Electricity/gas/phone/water connection (not older than two months from the date of application)
The lease/rent/leave license agreement specifies the customer's registered address with the government. (Rent agreement registration is not required in the United States or Europe.)
Valid job contract/appointment letter/foreign company/university ID card Receipt of property or municipal tax Bank statement/credit card statement (Showing three customer-induced transactions – for the latest three months from the date of application)
Voter identification card (election card)
Passport-size color picturePassport size color photograph

For PIOs/ OCIs

a valid foreign passport (first & last page)
PIO/ OCI card Driving license with photo, expiration date, and complete address Utility bills: electricity/ gas/ phone/ water connection (not older than two months from the date of application)
The lease/rent/leave license agreement specifies the customer's registered address with the government. (Rent agreement registration is not required in the United States or Europe.)
Valid job contract/appointment letter/foreign company/university ID card Receipt of property or municipal tax Bank statement/credit card statement (Showing three customer-induced transactions – for the latest three months from the date of application)
Voter identification card (election card)
Passport-size color picture

4. Interest rates on Deposits for Axis Bank NRI account

Axis Bank offers interest rates on their NRI fixed deposit (FD) accounts. Here is a sample of what you can expect for NRI FDs at less than a ₹ two crore deposit. But check the rates when opening an account, as they may vary.

NRE Deposits less than INR 5 crore:

Sr. No.	Period	Interest Rates (%)
		Deposits below INR 2 crore	Deposits of INR 2 crore < INR 2.30 crores	Deposits of INR 2.30 crore < INR 2.40 crores	Deposits of INR 2.40 crore < INR 4.91 crores	Deposits of INR 4.91 crore < INR 4.92 crores	Deposits Of INR 4.92 crore < INR 5 crores
1	1 year < 1 year 5 days	6.10	6.80	4.60	6.80	4.60	6.80
2	1 year 5 days < 1 year 11 days	6.10	6.80	4.60	6.80	4.60	6.80
3	1 year 11 days < 1 year 25 days	6.10	6.80	4.60	6.80	4.60	6.80
4	1 year 25 days < 13 months	6.10	6.80	4.60	6.80	4.60	6.80
5	13 months < 14 months	6.10	6.80	4.60	6.80	4.60	6.80
6	14 months < 15 months	6.10	6.80	4.60	6.80	4.60	6.80
7	15 months < 16 months	6.15	6.80	4.60	6.80	4.60	6.80
8	16 months < 17 months	6.15	6.80	4.60	6.80	4.60	6.80
9	17 months < 18 months	6.15	6.80	4.60	6.80	4.60	6.80
10	18 months < 2 years	6.15	6.80	4.60	6.80	4.60	6.80
11	2 years < 30 months	6.20	6.80	4.60	6.80	4.60	6.80
12	30 months < 3 years	6.20	6.80	4.60	6.80	4.60	6.80
13	3 years < 5 years	6.10	6.30	4.60	6.30	4.60	6.30
14	5 years < 10 years	6.10	6.30	4.60	6.30	4.60	6.30

Reference: https://www.axisbank.com/interest-rate-on-deposits

NRE Deposits above INR 5 crore

Sr. No.	Period	Interest Rates (%)
		Deposits of INR 5 crores < INR 10 crores	Deposits of INR 10 crore < INR 24.75 crores	Deposits of INR 24.75 crore < INR 25 crores	Deposits of INR 25 crore < INR 50 crores	Deposits of INR 50 crore < INR 100 crores	Deposits Of INR 100 crores and above
1	1 year < 1 year 5 days	6.80	6.80	4.60	6.90	6.90	7.00
2	1 year 5 days < 1 year 11 days	6.80	6.80	4.60	6.80	6.80	6.80
3	1 year 11 days < 1 year 25 days	6.80	6.80	4.60	6.80	6.80	6.80
4	1 year 25 days < 13 months	6.80	6.80	4.60	6.80	6.80	6.80
5	13 months < 14 months	6.80	6.80	4.60	6.80	6.80	6.80
6	14 months < 15 months	6.80	6.80	4.60	6.80	6.80	6.80
7	15 months < 16 months	6.80	6.80	4.60	6.80	6.80	6.80
8	16 months < 17 months	6.80	6.80	4.60	6.80	6.80	6.80
9	17 months < 18 months	6.80	6.80	4.60	6.80	6.80	6.80
10	18 months < 2 years	6.80	6.80	4.60	6.80	6.80	6.80
11	2 years < 30 months	6.80	6.80	4.60	6.80	6.80	6.80
12	30 months < 3 years	6.80	6.80	4.60	6.80	6.80	6.80
13	3 years < 5 years	6.30	6.30	4.60	6.30	6.30	6.30
14	5 years < 10 years	6.30	6.30	4.60	6.30	6.30	6.30

Reference: https://www.axisbank.com/interest-rate-on-deposits

NRO Deposits:

Sr. No.	Period	Interest Rates (%)
		Deposits below INR 2 crore	Deposits of INR 2 crore < INR 2.30 crores	Deposits of INR 2.30 crore < INR 2.40 crores	Deposits of INR 2.40 crore < INR 4.91 crores	Deposits of INR 4.91 crore < INR 4.92 crores	Deposits Of INR 4.92 crore < INR 5 crores
1	7 to 14 days	3.50	4.65	3.75	4.65	3.75	4.65
2	15 to 29 days	3.50	5.00	3.75	5.00	3.75	5.00
3	30 to 45 days	3.50	5.00	3.75	5.00	3.75	5.00
4	46 to 60 days	3.50	6.00	3.75	6.00	3.75	6.00
5	61 days < 3 months	4.00	6.00	4.00	6.00	4.00	6.00
6	3 months < 4 months	4.25	6.00	4.00	6.00	4.00	6.00
7	4 months < 5 months	4.25	6.00	4.00	6.00	4.00	6.00
8	5 months < 6 months	4.25	6.00	4.00	6.00	4.00	6.00
9	6 months < 7 months	5.00	6.25	4.00	6.25	4.00	6.25
10	7 months < 8 months	5.00	6.25	4.00	6.25	4.00	6.25
11	8 months < 9 months	5.00	6.25	4.00	6.25	4.00	6.25
12	9 months < 10 months	5.00	6.40	4.10	6.40	4.10	6.40
13	10 months < 11 months	5.00	6.40	4.10	6.40	4.10	6.40
14	11 months < 11 months 25 days	5.00	6.40	4.10	6.40	4.10	6.40
15	11 months 25 days < 1 year	5.00	6.40	4.10	6.40	4.10	6.40
16	1 year < 1 year 5 days	6.10	6.80	4.60	6.80	4.60	6.80
17	1 year 5 days < 1 year 11 days	6.10	6.80	4.60	6.80	4.60	6.80
18	1 year 11 days < 1 year 25 days	6.10	6.80	4.60	6.80	4.60	6.80
19	1 year 25 days < 13 months	6.10	6.80	4.60	6.80	4.60	6.80
20	13 months < 14 months	6.10	6.80	4.60	6.80	4.60	6.80
21	14 months < 15 months	6.10	6.80	4.60	6.80	4.60	6.80
22	15 months < 16 months	6.15	6.80	4.60	6.80	4.60	6.80
23	16 months < 17 months	6.15	6.80	4.60	6.80	4.60	6.80
24	17 months < 18 months	6.15	6.80	4.60	6.80	4.60	6.80
25	18 months < 2 years	6.15	6.80	4.60	6.80	4.60	6.80
26	2 years < 30 months	6.20	6.80	4.60	6.80	4.60	6.80
27	30 months < 3 years	6.20	6.80	4.60	6.80	4.60	6.80
28	3 years < 5 years	6.10	6.30	4.60	6.30	4.60	6.30
29	5 years < 10 years	6.10	6.30	4.60	6.30	4.60	6.30

Reference: https://www.axisbank.com/interest-rate-on-deposits

RFC Deposits:

		Interest Rates (%)
S.No	Termed Deposits	USD (Below 1 million)	USD (Above 1 million)	GBP	EURO	AUD	CAD
1	30 days 3 months	0.15	0.15	0.15	0.01	0.30	0.35
2	3 months 6 months	0.25	0.25	0.15	0.01	0.30	0.35
3	6 months 12 months	0.30	0.30	0.15	0.01	0.30	0.35
4	12 months 2 years	5.20	5.20	4.30	0.01	3.35	3.50
5	2 years 3 years	3.75	3.75	3.25	0.01	3.75	3.50
6	3 years 4 years	3.60	3.60	2.45	0.01	3.80	3.45
7	4 years 5 years	3.35	3.35	2.45	0.01	4.00	3.45
8	5 years	3.30	3.30	2.45	0.01	4.05	3.30

Reference: https://www.axisbank.com/interest-rate-on-deposits

FCNR (B) Deposits:

		Interest Rates (%)
S.No	Termed Deposits	USD (Below 1 million)	USD (Above 1 million)	GBP	EURO	AUD	CAD	JPY
1	12 months < 2 years	5.20	5.20	4.30	0.01	3.35	3.50	0.01
2	2 years < 3 years	3.75	3.75	3.25	0.01	3.75	3.50	0.01
3	3 years < 4 years	3.60	3.60	2.45	0.01	3.80	3.45	0.01
4	4 years < 5 years	3.35	3.35	2.45	0.01	4.00	3.45	0.01
5	5 years	3.30	3.30	2.45	0.01	4.05	3.30	0.01

Reference: https://www.axisbank.com/interest-rate-on-deposits

5. Receive international funds with Axis Bank

Axis Bank accepts foreign funds via online banking, demand drafts/cheques, and wire/telegraphic transfers.

Internet banking– Remit Money

Source: https://www.remitmoney.com

Transfer payments from the United States, United Kingdom, Canada, Australia, Singapore, and the Eurozone to India via Axis Bank's Remit Money platform. Remit Money has no transaction limits. To utilize Remit Money, neither the sender nor the recipient must have an Axis Bank account. However, Remit Money cannot be used to make company payments; monies may only be sent to individual accounts. Remit Money can be used to transmit cash for self-savings, NRI deposits, loans, gifts, donations, and other purposes. You may also use the transaction reference number to verify the status of your Remit Money transfer.

Foreign currency demand draft (DD)/ cheque

Source: https://www.axisbank.com/retail/forex/foreign-currency-demand-draft

You can deposit any bank's currency-denominated DD or check and receive Indian rupees. Go to any Axis bank branch and deposit the DD/cheque. The amount specified on the instrument will be credited to the beneficiary account.

Charges to receive international funds with Axis Bank

Remit Money fees

Axis Bank makes no charges or fees on the transfer amount. The amount indicated on the screen while booking the transfer will be the final payment received by the recipient. The transfer exchange rate, however, is not always the real mid-market rate. When you check the currency rates on Google or Reuters at any moment, you will see the mid-market or interbank rate. There are no free complimentary transfers, and banks typically impose a hidden actual genuine exchange rate. Always compare Wise vs. big banks before making your next foreign transfer transaction to see whether you are getting the best prices.

Foreign currency DD/ cheque fees

Axis Bank charges 0.25% of the INR value, relevant tax with a minimum of 114.50 (100 + tax), and delivery charges of 56 (50 + tax). Depending on the transfer amount, the correspondent may charge between $11 and $17.5. The drawer bank may impose additional fees.

6. Send money abroad with Axis Bank

Axis Bank allows you to send money overseas via online banking for Axis bank account holders, Axis Forex Online for non-Axis bank account holders, or transfer cash at an Axis bank branch.

Axis bank internet banking

To transfer funds through internet banking:

Login to your Axis bank internet banking account
Go to the ‘Forex’ option and then ‘Register International Beneficiary.
Provide all the details about your beneficiary, like name, account number, address, etc.
You are now ready to make your payment

Axis Forex Online

To use Axis Forex Online, you need to-

Register yourself on the Axis Forex Online website
Submit your documents like PAN card, and address proof for verification at an Axis bank branch, or arrange a pickup
Once documents are verified, you will receive a confirmation via SMS and email, and your registration will be complete
You can now log in to the website and select ‘Add beneficiary’ to start making transactions

Fund transfer through Axis bank branch

You can submit your fund transfer request at your local Axis bank branch on business days between 9:30 a.m. and 4:00 p.m. You must supply verification papers such as identification and residence evidence. Once authenticated, the department will accept your request for an international fund transfer. click here

7. Axis Bank Forex Cards

Source: https://www.axisbank.com/retail/forex/travel-forex-card

Axis Bank has many different kinds of travel currency cards to meet the needs of travelers. Some cards only let you load one currency, but other cards let you load more than one currency at a time. VISA or MasterCard only accepts some, but a few others are accepted by both so that they can be used more often.

Axis Bank Travel Forex Cards – Types, Features

Axis Bank has five Forex Cards that can be used for different kinds of travel. On the bank's website, you can find the following five cards:

Axis Bank Multi-Currency Forex Card
Axis Bank World Traveler Forex Card
Axis Bank Diners Card
Axis Bank Single Currency Card
Axis Bank India Travel Card
Let’s look at each of them in detail

Axis Bank Multi-currency Forex Card

As the name indicates, the Axis Bank Multi-Currency Forex Card allows customers to pre-load funds in different currencies, removing the need for a separate card for each country. The card is more suited for persons who travel to other nations because it has a 5-year validity term. It also provides special dining incentives, emergency help services, and one-of-a-kind travel discounts, allowing customers to do much more with one card.

Axis Bank World Traveler Forex Card

The Axis Bank World Traveler Card is a prepaid card that can be used in India and other countries. It is co-powered by Miles & More. By giving air miles as reward points, the card is better for people who like to travel. The card works quickly at merchant terminals because it is powered by MasterCard's contactless technology.

Axis Bank Diners Card

Axis Bank Diners Card is a Diner’s network prepaid foreign currency card. The card is accepted at over 22 million merchant locations worldwide and may be used to withdraw cash from about 1 million ATMs. The card is presently only available in US dollars.

Axis Bank Single Currency Card

As the name implies, the Axis Bank Single Currency Card is a prepaid travel card that may be pre-loaded with a single foreign currency. The card is appropriate for individuals who are just visiting one nation. The same card cannot be used to load more funds. Users must acquire individual cards for each type of currency. Currently, the card is available in 11 different currencies.

Axis Bank India Travel Card

The Axis Bank India Travel Card is a prepaid rupee travel card explicitly designed for non-resident Indians and overseas nationals (NRIs). The card is only valid in India and is only available through the VISA platform. People visiting India from other countries and NRIs can use the card during their stay.

Fee And Charges Of Axis Bank Forex Cards

A few standard fees or charges levied on Axis Bank Forex Cards are listed below.

Fee/Charge Type	Multi-Currency Forex Card	Diners Card	World Traveler Forex Card	Single Currency Forex Card
Initial Sale Fee	Rs.300.00 + GST	Rs.150.00 + GST	Rs.300.00 + GST	Rs.150.00 + GST
Reload/Renewed Card Fee	Rs.100.00 + GST	Rs.100.00 + GST	Rs.100.00 + GST	Rs.100.00 + GST
Add-on Card Fee	Rs.100.00 + GST	Rs.100.00 + GST	Rs.100.00 + GST	Rs.100.00 + GST
Encashment Charges	Rs.100.00 + GST	Rs.100.00 + GST	Rs.100.00 + GST	Rs.100.00 + GST
Pin Change	Nil	Nil	Nil	Nil
Balance Inquiry	Nil	Nil	Nil	Nil

Reference: https://www.axisbank.com/docs/default-source/default-document-library/fees-and-charges-multicurrency-forex-card.pdf

For India Travel Card, the fee and charges are as follows.

India Travel Card
Card Issuance	Rs.150
Refund	Rs.150
Card replacement	Rs.300
Duplicate ATM PIN/Internet Banking Password (per request)	Rs.50
Balance Enquiry	Rs.12
ATM Usage
Cash withdrawal at Axis Bank ATMs	Rs.25
Cash withdrawal at non-Axis Bank ATMs	Rs.60

Reference: https://www.axisbank.com/retail/forex/travel-forex-card/multi-currency-forex-card/fees-charges

8. Axis Bank Home Loan for NRI

Axis Bank is the third largest private-sector bank in India that offers its customers a range of banking and financial products. Axis Bank provides home loans to its customers at attractive interest rates and focuses on home loans offered to NRIs. NRI home loans are offered at competitive interest rates with benefits attached. The primary reasons why Indians are willing to avail of home loans:

NRIs frequently conduct business and require a place to stay during their visits
NRIs may have a family living in India and are willing to buy a new home
NRIs are willing to earn money by investing in the Indian real estate market

Eligibility:

To apply for an NRI Home Loan, you must determine your eligibility. Check the list below to identify who would and would not be eligible for an NRI Home Loan. Individuals who qualify for an NRI Home Loan:

Non-Resident Indian (NRI), Person of Indian Origin (PIO), and Overseas Citizen of India (OCI), excluding citizens of Pakistan, Bangladesh, Sri Lanka, Afghanistan, China, Iran, Nepal, and Bhutan.
Age - The candidate must be at least 24 years old. At the time of loan maturity, the maximum age restriction is 60 years or retirement age (whichever is sooner).
Work experience - The applicant should have a minimum of six months of international work experience and two years of work experience.
Minimum Income

For GCC Countries - AED 5000 - p.m. (or equivalent)

Other Countries & USA - USD 3000 -p.m. (or equivalent)

For Merchant Navy - USD 2000 p.m. for nine months

Source link for interst rate: https://www.axisbank.com/interest-rate-on-loans

9. Some FAQs

In how many days will I receive the Forex Card?

All Axis Bank Forex Cards are available over the counter. Bring the relevant papers to any bank branch, fill out the application form, pay the card issuing charge, and acquire the card.

Is there any fee for using the cards at retail POS terminals?

No, there is no transaction fee for using the card at merchant establishments.

What is the minimum and maximum deposit for Axis Bank NRI, NRE, and NRO fixed deposits?

The minimum deposit for Axis Bank NRI, NRE, and NRO fixed deposits is Rs.5 crore.

What are the interest payout options available for Axis Bank NRI fixed deposits?

The interest payouts available for Axis Bank NRI fixed deposits are monthly, quarterly, and on the maturity of the FD.

Can NRIs have a savings account?

They can have an NRE or NRO savings account per their requirements.