BANK OF BAHRAIN AND KUWAIT B.S.C

NRI
Outward Remittances
Facilities for Returning Indians
Investment Schemes for NRI's
Tax Benefits for NRI's
Opening of NRI Account
Deposit accounts NRE / NRO
Foreign currency deposits FCNR
Portfolio Investment Scheme
NRE Term Deposits
NRO Term Deposits
RFC a/c

ANNOUNCEMENTS

* Please click here for Revised service charges w.e.f.01.02.2018.

*Banking Facilities for Senior Citizens and Differently abled Persons.

*Dear Customers, Effective 27th Mar 2018 our Hyderabad Branch will function from the Bank's own spacious premises at :Ground Floor, 6-3-252/1/3 & 6-3-252/1/3/A, ERRAMANZIL, HYDERABAD - 500 082.Contact nos remain same.

* W.E.F 01.07.2017 Bank will collect GST @18% on applicable commission/service charges in lieu of service tax @15%.

* W.E.F 01.07.2017 GST on Forex conversions will be collected. Click here for rates.

* Please click here for current MCLR rates.

* Please click here for current interest rates on deposits.

* Details of Unclaimed Deposits. Please click here.

* FREE OF CHARGE unlimited usage of BBK ATM cards in other Banks’ ATMs.BBK ATM cards can be used in all ATMs of NPCI member Banks network. Click here for details.

*Safe Deposit Lockers facility available at our Hyderabad, Aluva & New Delhi branches. Please contact branch for details.

* Interest on all types of Savings Deposit shall be credited at quarterly intervals on the last working day of March, June, September and December.

* As per Income Tax rules, applicable TDS on deposit account is deductible on accrued interest. TDS so deducted is non-refundable.

* Customers are advised to register their mandates for payment before maturity on joint deposits held on "Either or Survivor" or "Former or Survivor" basis.

* Customers are advised to issue CTS compliant cheques only.

* BBK presently does not have any 3rd Party Agents/DSAs. The marketing & processing of all products are done through its branches, by the bank staff.

* Rupee Floating Loans/ Credit limits shall now be priced at MCLR effective 01/04/2016"click here for details

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Tax Benefits for NRI's

 

Income Tax Criteria for RNOR (Resident but Not Ordinarily Resident)

If a NRI comes back to India and loses his NRI status, he will not be subject to tax in India on his world-wide income, for 2 years, if either of the following two conditions are satisfied :

  • He has been in India for not more than 729 days during the preceding seven financial years; or
  • He has qualified as a non-resident for nine out of 10 preceding financial years.Similarly, if in any particular financial year, his stay in India exceeds 182 days and he loses his NRI status for that year, his income outside India will still not be taxable if any of the above two conditions are satisfied and his tax status will be that of a 'Not Ordinarily Resident' Indian.

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