NOV 2017 Sandesh Prosperity for all NOV 2017 NRI s Monthly Newsletter 1
News From India NRIs, PIOs don't need to link bank a/c, PAN with Aadhaar, UIDAI clarifies NRIs and PIOs are not required to link bank accounts and other services with Aadhaar, the Unique Identification Authority of India (UIDAI) said. "The laws regarding submitting/linking of Aadhaar for availing the services/benefits applies to the residents as per the Aadhaar Act 2016... Most of the NRIs/PIOs/OCIs may not be eligible for Aadhaar enrolment as per Aadhaar Act...," the UIDAI said in a note dated November 15 to central ministries and states. It has further instructed the implementing agency to device a mechanism "to ascertain the genuineness of status of such NRIs/PIOs/OCIs". (Source: The Economic times, 17.11.17) Changes in PPF, NSC Rules According to the latest changes in rules, if a PPF account holder turns NRI, the account will be deemed closed even if it has not matured and will earn interest at the much lower rate applicable to Post Office savings account. Similarly, for NSC, if the certificate holder becomes an NRI, the certificate will be deemed to be encashed on the day he or she becomes a non-resident (NRI) and the interest will be paid at the rate applicable to the Post Office savings account till it is encashed. (Source: The Business Line, 30.10.17) Update Passport / Visa details NRI customers are requested to update valid KYC (Know Your Customer) documents. Please provide your latest KYC documents viz. Passport & Visa to your base branch, if the validity of the documents submitted earlier has expired. 2
Floating Rate For all Tenors [max. 30 Years] Corp Home Loan Corp Vehicle Loan (For 4 wheelers) + Up to Rs. 2 Crore # Above Rs. 2 Crore * Floating Rate For Up to Rs.50 Lakhs Above Rs. 50 Lakhs all Tenors [max. 8.65% 9.00% 84 months] 8.90% 9.40% # Processing charges under Festival offer on Corp Home loan upto Rs 2 crore (Floating rate) NIL * Processing charges under Festival offer on Corp Home loan above Rs 2 crore (Floating rate) 0.50 % of Loan Amount (Max Rs. 50,000/-) + No Processing charges under Festival offer on Corp Vehicle loan (For 4 Wheelers) All NRE customers, those who availed housing loan on floating/fixed rate of interest are eligible for switchover to MCLR (Marginal cost of fund based lending rate) system by submitting a consent letter at the base branch. Housing loans on fixed interest rates are also available. Interest Rates are subject to change. Kindly contact the branch for prevailing interest rates. Interest Rates On NRI Deposit Schemes Interest rates on NRE Term Deposits are as under w.e.f 11.10.2017 Maturity Band The Interest rate on FCNR (B) deposits w.e.f. 1st Nov 2017 is as follows: Interest Rates are subject to change. Kindly contact the branch for prevailing interest rates. [% per annum] Less than Rs.1 Crs Rs. 1 Cr to < Rs. 10 Crs Rs. 10 Crs & above 1 year to less than 3 years 6.50 5.10 5.00 3 years and above 6.50 5.00 5.00 Maturity Band USD GBP EUR AUD CAD 1 year to less than 2 years 2.38 1.14 0.25 2.65 2.64 2 years to less than 3 years 2.80 1.60 0.31 2.95 2.79 3 years to less than 4 years 2.91 1.70 0.43 3.08 2.90 4 years to less than 5 years 3.00 1.78 0.56 3.36 2.98 5 years 3.09 1.85 0.71 3.44 3.04 [% per annum] 3
CORP m-token Launched An OTP generation application for authorizing transactions done through Corporation Bank Internet Banking portal. (Internet Connectivity is required for the application to function.) Registration Process 1. Internet Banking: Login to your Internet Banking Portal and register for Mobile Token Service available under the "Online Requests" tab. 2. Mobile: Download the CORP m-token application from Google Play store and click on the "Register Here" link provided on the main screen of the application. Please follow the on-screen instructions to complete the one time registration process Login using your registered Mobile Number and mpin to start using the Token Number(OTP) displayed on screen to authorize transactions done through Corporation Bank Internet Banking service. The App is available on Google Play Store as well as on Apple App Store. Never miss a transaction waiting long for undelivered OTPs through SMS. Download Corp m-token now Move ahead of time. Android IOS 4
Sample Format For Remittance Of Money (USD) Via SWIFT In Foreign Currency PAY TO ACCOUNT WITH FURTHER CREDIT TO CORPORATION BANK IIBD MUMBAI INDIA SWIFT: CORPINBB BANK OF NEW YORK SWIFT CODE: IRVTUS3NXXX ACCOUNT NO: 890 0385 987 NAME OF THE BENEFICIARY: 15 DIGIT ACCOUNT NO: PURPOSE: Our NOSTRO Accounts For Remittance Of Money Via SWIFT Currency Bank Name Our A/C No. SWIFT Code CITI BANK 36006674 CITIUS33XXX BANK OF NEW YORK 8900385987 IRVTUS3NXXX USD STANDARD CHARTERED BANK 3582053746001 SCBLUS33XXX WELLSFARGO BANK 2000191000506 PNBPUS3NNYC JP MORGAN CHASE BANK 11400603 CHASUS33XXX DEUTSCHE BANK 4179335 BKTRUS33XXX COMMERZ BANK 50040000/400875085300EUR COBADEFFXXX EUR STANDARD CHARTERED BANK 18146210 SCBLDEFXXXX SOCIETE GENERALE BANK 2016204000 SOGEFRPPXXX GBP STANDARD CHARTERED BANK 1708176601 SCBLGB2LXXX JPY WACHOVIA BANK (JPY) 99412069 PNBPJPJXXXX AUD ANZ BANKING GROUP 228387-00001 ANZBAU3MXXX CAD TORONTO DOMINION BANK 0360-01-2253335 TORONTO TDOMCATTTOR SGD DBS BANK LTD 037-000366-2 DBSSSGSGXXX SEK SKANDINAVISKA ENSKILDA BANKEN 5201-85-299-86 ESSESESSXXX AED EMIRATES NBD BANK 1261214906301 EBILAEADXXX CHF ZUERCHER KANTONAL BANK 70001299247 ZKBKCHZZ80A For any Suggestions/Queries/Grievances e-mail: nricell@corpbank.co.in Website: www.corpbank.com Contact Number: 0824-2861384/2861388 Disclaimer clause: The contents of this newsletter are based on information received from various sources and while compiling every effort has been made to ensure that the information is accurate and authentic. Corporation Bank does not accept any responsibility for interpretations of various rules or any errors/ omissions in the newsletter. 5