#2
| |||
| |||
Re: Bank of America NRO Account
Bank of America is an American multinational banking and financial services corporation headquartered in Charlotte, North Carolina. As you asking I am telling Non Resident Ordinary Rupee (NRO) account so I am telling NRO account can be of any type: saving, current or Fixed Deposit. Interest payable on NRO accounts is the same as on resident accounts. NRO accounts may be re-designated as resident accounts when the account holder becomes a resident in India. Disadvantages of NRO: Interest earned on balances in NRO Accounts is not exempted from Indian Income tax. Instead income tax is deducted at source (TDS) i.e. at the time of payment of interest by the bank. Balance held in NRO account can neither be repatriated. No remittance in foreign currency is allowed without prior approval of Reserve Bank as well. Bank profile Type Public Traded as NYSE: BAC S&P 500 Component Industry Banking, Financial services Predecessor Bank America NationsBank Founded October 17, 1904; 112 years ago (as Bank of Italy) February 1930; 86 years ago (as Bank of America) 1998; 18 years ago (current) Founder Amadeo Giannini Headquarters Charlotte, North Carolina, United States Area served Worldwide Key people Brian T. Moynihan Chairman & CEO Products Consumer banking, corporate banking, finance and insurance, investment banking, mortgage loans, private banking, private equity, wealth management, credit cards, Revenue US$82.50 billion (2015) Operating income US$21.89 billion (2015) Net income US$15.89 billion (2015) Total assets US$2.185 trillion (2016) Total equity US$256.2 billion (2015) Number of employees 210,516 (2016) Divisions Bank of America Home Loans, Bank of America Merrill Lynch Subsidiaries Merrill Lynch U.S. Trust |
Similar Threads | ||||
Thread | Thread Starter | Forum | Replies | Last Post |
CSE Bank Of America | Unregistered | Main Forum | 1 | 29th January 2018 03:31 PM |
PFS Bank Of America | Unregistered | Main Forum | 1 | 29th January 2018 03:00 PM |
GPC Bank of America | Unregistered | Main Forum | 1 | 29th January 2018 11:28 AM |
EWR Bank Of America | Unregistered | Main Forum | 1 | 25th January 2018 01:11 PM |
Bank Of America PTO | Unregistered | Main Forum | 1 | 23rd January 2018 12:31 PM |
Bank Of America Kck | Unregistered | Main Forum | 1 | 1st September 2017 12:30 PM |
Bank Of America Pcb | Unregistered | Main Forum | 1 | 30th August 2017 12:41 PM |
Bank of America MD UN | Unregistered | Main Forum | 1 | 1st June 2017 10:33 AM |
Bank of America PFM | Unregistered | Main Forum | 1 | 30th May 2017 03:16 PM |
Bank of America HK ATM | Unregistered | Main Forum | 1 | 26th May 2017 11:56 AM |
Bank Of America Nl CT | Unregistered | Main Forum | 1 | 7th December 2016 06:56 PM |
Bank of America NYU | Unregistered | Main Forum | 1 | 5th December 2016 02:53 PM |
PVG Bank of America | Unregistered | Main Forum | 1 | 28th November 2016 11:55 AM |
Bb&T Vs Bank of America | Unregistered | Main Forum | 1 | 24th November 2016 06:06 PM |
DTS Bank Of America | Unregistered | Main Forum | 1 | 22nd November 2016 08:55 AM |
Bank Of America BBR | Unregistered | Main Forum | 1 | 19th November 2016 06:53 PM |
IE 11 and bank of America | Unregistered | Main Forum | 1 | 19th November 2016 06:44 PM |
Bank Of America RJ | Unregistered | Main Forum | 1 | 8th November 2016 02:51 PM |
Account Number Bank Of America | Unregistered | Main Forum | 1 | 5th November 2016 06:11 PM |
Punjab National Bank Account Opening Form for Current Account | vedacm | Main Forum | 2 | 10th January 2014 05:01 PM |
|