If you are an NRI, managing finance in India can't be an easy job, especially if your financial
footprint is tied to so many countries. Even if you receive income through a property rental,
dividends on shares, or a payout from a family business, the law requires that you process this
income through one of the account types, the Non-Resident Ordinary (NRO) account.
If you are unsure how to handle this income or are still using your old savings account, it’s time
to make a switch, TJSB’s NRO Account makes that transition smooth and hassle-free.
The Problem: Why Regular Accounts Don’t Work for NRIs
Many NRIs unknowingly continue using their regular resident savings accounts after moving
abroad, but RBI regulations require converting these to NRO or NRE accounts once residency
status changes. Using a resident account to receive Indian income, such as rent, dividends, or
pension, violates FEMA rules and restricts fund repatriation. This can lead to tax complications,
compliance issues, and even penalties, turning a seemingly harmless oversight into a costly
financial mistake.
The right solution for NRIs managing income from India is to open a Non-Resident Ordinary
(NRO) account. It lets you safely receive Indian earnings, like rent, dividends, or pensions,
directly into your account. You can easily pay bills or cover expenses for your family or property
back home.
Top Features of TJSB NRO Accounts
Managing your Indian income at abroad should not be a difficult task and with a TJSB NRO
account, it would be a breeze. Whether it be rent, pension, dividends or interest income, a TJSB
NRO account guarantees your money is in safe hands and managed efficiently under Indian
banking laws.
Hassle-Free Repatriation
A major benefit of the TJSB NRO account is the ability to repatriate up to USD 1 million per
financial year after taxes, subject to submission of Form 15CA and 15CB from a Chartered Accountant. Whether for personal use, family support, or overseas investments, TJSB ensures a
smooth, RBI-compliant process, giving you global access to your Indian income with peace of
mind.
Attractive Interest and Fixed Deposit Options
Your TJSB NRO account does more than store money; it helps it grow. Earn attractive interest
on savings and get even better returns by opening Fixed Deposits directly from your NRO
account. With flexible tenures and reliable growth, it's a smart way for NRIs to make the most
of their Indian income.
Joint Holding with a Resident Indian
The accounts may be held jointly with residents on former or survivor basis only.
Digital Banking and Convenience
TJSB offers net banking and mobile banking for NRO account holders. You will get instant SMS
and email alerts for transactions. This allows you to bank conveniently from anywhere in the
world. Some branches also provide digital onboarding to make account setup faster.
Seamless Conversion on Residential Status Change
If your residency status changes, whether you become a resident or a non-resident, TJSB allows
smooth re-designation of your account. TJSB allows conversion of accounts based on your
residency status, subject to necessary documentation and compliance with RBI regulations.
How to Open an NRO Account with TJSB
1. Download & Fill the Form
Visit https://www.tjsb.bank.in/nre-account to download the NRO account opening form.
2. Submit at a TJSB Branch in India
Submit the completed form along with self-attested KYC documents at any TJSB branch.
Originals are required for verification.
3. KYC & Activation
After KYC verification, your account will be activated. You’ll receive access to cheque books, net
banking, and mobile banking services.
Conclusion
For NRIs looking to manage their Indian earnings easily and legally, the TJSB NRO Account is a
dependable choice. With flexible account types, competitive interest rates, digital banking, and
support for joint accounts or Power of Attorney, it helps you stay financially connected to India,
whether for daily expenses or long-term savings.
Want to know more? Read more on https://www.tjsb.bank.in/nre-account
