From your NRE or FCNR Account

From your NRE or FCNR Account à You can transfer to any account overseas easily:

  • Complete Outward Remittance Form, sign, scan and e-mail it to nriservices@idfcfirstbank.com from your registered e-mail ID
  • We will call you on your registered phone number to verify the transaction. Once this is done, the transaction will be executed basis your instruction
  • There are no limits to the amount that can be transferred out of the country, subject to available balance in your account
  • If you are in India and are visiting a branch of IDFC FIRST Bank, you could also hand over this request in person

Repatriation from NRO Account

Repatriation refers to the transfer of Indian Rupees in your IDFC Non-Resident Ordinary Savings Account or Non-Resident Ordinary Deposit either in foreign currency to your overseas account, or FCNR Deposit or transfer in Indian Rupees to your IDFC Non-Resident External (NRE) Account.

Repatriation of funds from a Non-Resident Ordinary Account is currently limited to $1 MM per financial year per individual. This means:

  1. If you have multiple NRO accounts with IDFC and with other banks, $ 1 MM is the aggregate limit across ALL your accounts.
  2. If there are two holders in an account, the limit is per holder, and not per account.
  3. Limit applies to the aggregage amount across all categories of repatriation except current income.

To effect a repatriation transaction please provide the following documents:

  1. NRO Repatriation Application Form
  2. A2 cum FEMA declaration
  3. Form 15 CA & CB
  4. Supporting documents to establish the source of funds being repatriated (see table below)

Above will be applicable for both NRO to outward remittance and NRO to NRE of same customer

Copies of above documents can be handed over at the nearest IDFC FIRST Bank Branch or e-mailed to nriservices@idfcbank.com

Source of Funds

 

Supporting Documents

 

Current income (like Rental Income, Dividend, Interest Income, etc.)

 

1. Rent:Rent receipts / Rent Agreement
2. Dividend: Dividend Warrant / Intimation / Entry in bank statement showing receipt is on account of dividend
3. Interest: Statement of Bank (if other than IDFC FIRST Bank Ltd.). If interest is on other securities, interest warrants / Bank statement clearly showing receipt is on account of interest.
4. Salary: Copy of Salary Slip or Form 16A confirming the salary paid and tax deducted at source / Copy of your NRO Rupee Checking Account to confirm the salary credits to your account
5. Pension/ Provident Fund/ Gratuity : Proof of pension, provident fund or gratuity from Pension Office, Provident Fund Office or Employer
OR
In each of the above cases, if Form 16A (TDS Certificate) is submitted mentioning the source of funds, this may also be accepted.

* If source of funds is interest on the NRO savings account or NRO FD/RD or NRE FD/RD held with IDFC FIRST Bank Ltd and the interest is directly credited to the NRO account, Form 15CA and CB not required.

* Remittance amount should be in line the source of income and same should be reflect in your bank statements clearly. Additional documents may be required to process the request.

 

Sale of immovable property

 

1. Copy of Sale & Purchase Deed
2. Bank statement showing credit of sale proceeds.
 
* If the property purchased and sold is agricultural land / plantation / farmhouse, then proof of RBI approval for such purchase would be required.

* The Capital gain can be repatriated from the NRO account as well upto a limit of USD 1,000,000/- per financial year.

* This facility is not available to citizens of Pakistan, Bangladesh, Sri Lanka, Afghanistan, China, Iran, Nepal and Bhutan. Such persons are required to obtained RBI approval in order to repatriate the funds.

* Remittance amount should be in line with the sale and purchase deed of property and same should be reflect into your bank statements clearly. Additional documents may be required to process the request.

 

Sale of immovable property acquired through inheritance

 

1. Copy of the sale deed
2. Bank statement showing credit of sale proceeds
3. If the details of the inheritance are not clearly mentioned in the sale deed, please provide any one of the below:
- Copy of the Will
- Succession Certificate
- Legal Heirship Certificate
- Partition Deed
- Settlement Deed
- Court order
- Share certificate of Co-operative Housing Society showing transfer of the share to the seller
- Mutation Deed / Certificate
- Letter of Administration

4. Copy of the death certificate of the deceased person on whose demise the succession document came into operation (not required in case of partition deed or court order)

* This facility is not available to citizens of Pakistan, Bangladesh, Sri Lanka, Afghanistan, China, Iran, Nepal, and Bhutan. Such persons are required to obtained RBI approval in order to repatriate the funds.

* Remittance amount should be in line with the sale and purchase deed of property and same should be reflect into your bank statements clearly. Additional documents may be required to process the request.

 

Property Cancellation/ Refund of earnest money

 

1. Valid documentary evidence for cancellation of the deal like cancellation agreement or correspondence between the parties etc.
If the remitter has assigned the rights to another person, copy of tri-partite agreement between the seller, remitter and such third party
2. Receipt from builder (at the time of purchase)
3. Bank statement showing the debits for payment for the property (for payments from NRE / FCNR accounts).

* This facility is not available to citizens of Pakistan, Bangladesh, Sri Lanka, Afghanistan, China, Iran, Nepal and Bhutan. Such persons are required to obtained RBI approval in order to repatriate the funds.

* Remittance amount should be in line with the agreement/receipt of property and same should be reflect into your bank statements clearly. Additional documents may be required to process the request.

 

Financial Assets eligible for repatriation

 

1. Mutual Funds Sales:Statement from Fund House confirming that the funds were purchased by an NRI. The sale amount in the Fund House Statement should match the credit to your NRO Account.
2. Shares purchased in Private Placement: a) DEMAT Account Statement - The sale amount in the DEMAT Statement should match the credit to your NRO Account. b) FCGPR & FCTRS - Please provide the Unique Identification Number (UIN) issued by the Reserve Bank of India on submission of FCGPR. You will also need to provide an authorized dealer's acknowledgement that the FCTRS documents have been filed by the Seller or Buyer.
3. Shares purchased in Secondary Market/ Stock Exchange: a) DEMAT Account Statement - The DEMAT Statement should reflect the credits and transfers from the account. OR
b) Contract Note of Sale - Sale amount in the Contract Note should match the DEMAT Account and the amount being repatriated from your NRO Account.
4. Shares purchased in an IPO: a) DEMAT Account Statement - Sale amount in the DEMAT Statement should match the credit to your NRO Account. The DEMAT Account Statement also needs to confirm that these shares were purchased from an NRE Account. The DEMAT account statement should also provide a Client Master issued by the depository participant to confirm that these shares were purchased as an IPO.
b) Contract Note of Sale - Sale amount in the Contract Note should match the DEMAT Account and the amount being repatriated from your NRO Account.
5. Shares Inherited: a) Copy of Will/ Letter of Administration/ Succession Certificate b) Copy of Death Certificate c) DEMAT Account Statement - Sale amount in the DEMAT Statement should match the credit to your NRO Account. OR Contract Note of Sale - Sale amount in the Contract Note should match the DEMAT Account and the amount being repatriated from your NRO Account.
6. Surrender or Maturity of Insurance Policy: Insurance Surrender or Maturity documents issued by the Insurance Company. The maturity amount or surrender value mentioned in this document should match the credit to your NRO Account for repatriation.
7. PPF Balances: PPF passbook
8. Maturity of Debentures / Bonds : Copy of the certificate / Demat statement / letter from issuing company
9. Fixed Deposits: FD Advice/ Bank Statement credited to IDFC FIRST Bank NRO account

In case of assets acquired by inheritance or legacy, in addition to the respective document mentioned above (which would be in the name of the decease legator, also obtain any one of the following:
Copy of the Will
Death certificate of asset owner.
Succession Certificate
Legal Heirship Certificate

Repatriation of sale proceeds of other financial assets is not allowed for citizens of Pakistan, Bangladesh, Nepal and Bhutan.
* Remittance amount should be in line with the sales of shares and same should be reflect into your bank statements clearly. Additional documents may be required to process the request.

 

Repayment of loan from a close relative

 

1. Statement of NRE/ FCNR showing debit to close relatives account/ Inward Remittance from NRI directly to close relative account
2. Loan Agreement / written consent from borrower and lender specifying the amount, date, period and terms of the loan. Terms should be in conformity with the conditions given below.
- Minimum maturity of 1 year
- Interest free loan
- Amount of loan is from debit to NRE/ FCNR account or through free foreign exchange through normal banking channels

 

Please reach out to the nearest branch or e-mail nriservices@idfcfirstbank.com for any further assistance

International Debit Card

If your IDFC FIRST Bank Debit Card is linked to an NRE account, you can access these funds overseas at any Visa enabled ATM, Point of Purchase transaction at any merchant establishment or International Payment Gateway. As an IDFC FIRST Bank Debit Card holder, take control of your Debit Card daily limits for cash withdrawal as well as for purchase. The maximum limits can be set depending on your card variant , do check the below grid for further details.

  Daily ATM Withdrawals Daily Purchase
Card Variant Domestic International* Domestic International*
Visa Signature Rs 1,50,000 Rs 50,000 Rs 3,50,000 Rs 50,000
Visa Platinum Rs 50,000 Rs 50,000 Rs 1,50,000 Rs 50,000

*International transactions are disabled from your NRO Account

To set a limit for your IDFC FIRST Bank Debit Card, just log on to www.idfcfirstbank.com.

You can also switch off or switch on international transactions on internet banking.

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Contact us

REGISTERED office:

IDFC FIRST Bank Ltd

KRM Tower, 7th Floor, No. 1,
Harrington Road, Chetpet,
Chennai - 600031, Tamil Nadu,
India

Corporate office:

IDFC FIRST Bank Ltd

Naman Chambers,
C-32, G-Block,
Bandra-Kurla Complex,
Bandra East, Mumbai - 400051,
India

IDFC FIRST Bank Customers

Toll Free No - 1800 419 4332
Email - Banker@idfcfirstbank.com

Capital First Customers

Toll Free No - 1860 500 9900
Email - Customer.Care@Capitalfirst.Com

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