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Opening Accounts of Various Types of Customers
Low Risk — Examples / Periodic Updation?
Examples: Salaried, Govt. employee, PSU, salaried pensioners; Periodic Updation: Once in 10 years
Medium Risk — Examples / Periodic Updation?
Examples: Self-employed, traders, small businesses; Periodic Updation: Once in 8 years
High Risk — Examples / Periodic Updation?
Examples: PEPs, NRIs from high-risk jurisdictions, Trusts, NPOs, cash-intensive businesses, NGOs; Periodic Updation: Once in 2 years
NRE SB / FD — Currency / Repatriable? / Joint with Resident? / Tenor / Interest Tax?
Currency: INR; Repatriable?: Yes — fully (P & I); Joint with Resident?: With resident close-relative on Former-or-Survivor basis only; Tenor: SB/CA/FD 1–10 yrs; Interest Tax: Tax-FREE in India
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