This article offers a brief summary of the key aspects of the Indian Overseas Bank‘s NRO Tax Saver Deposit schemes. Since these details are subject to frequent updates, please refer to the bank’s official website for the most current information on features and interest rates.
IOB Bank – NRO Tax Saver Deposit Features:
- Eligibility: Non-Resident Indian (NRI) with income excluding investment income (Interest) and long-term capital gains.
- Deposit Amount: Minimum Rs. 10,000/- and maximum Rs. 1,50,000/- Period: From 5 years with a lock-in period of 5 years. Maximum period – 10 years.
- Benefits: Tax exemption available under section 80C, with a maximum of Rs. 1.50 Lacs.
How to invest?
Click here to invest in the Indian Overseas Bank’s NRO Tax Saver Deposit schemes.
Note: The information presented here is sourced from publicly available data. We cannot be held responsible for any inaccuracies in the details. For the most current and accurate information, please visit the official website of the respective bank/institution.