Non Resident Bhutanese Saving Fund Scheme- Remit Bhutan
Non Resident Bhutanese Citizens can open Saving Fund (NRB) A/c with the Bank.
Under the scheme two accounts will be opened simultaneously based on the same application. One A/c will be in Foreign Currency (SBNRB-FC) and another A/c in Bhutanese Currency (SBNRB-BTN). The salient features of the scheme as under:
| Foreign Currency | BTN | |
|---|---|---|
| A/c Type (Scheme Code) | Saving Fund (SBNRB (FC) | Saving Fund (SBNRB (BTN) |
| Currency in which the A/c can be opened/operated | i) US Dollar, ii) Pound Sterling (GBP), iii) Euro, iv) Japanese Yen, v) Australian Dollar, vi) Indian Rupees | Ngultrum (BTN) |
| Deposit in the A/c | Through Foreign Remittance only | Either through foreign remittance or through transfer from SBNRB-FC A/c |
| Joint A/c | Permissible only with Non Resident Bhutanese | |
| ROI | 0.20% p.a. (payable on monthly basis only if monthly average balance of 1000/- is maintained in USD/GBP/ EURO etc. in the A/c) | 5.00% p.a. payable on monthly basis |
| Withdrawal | Withdrawal can be made by the A/c holder across the counter or through repatriation to his own A/c abroad | Withdrawal can be made by the A/c holder across the counter or through repatriation to his own A/c abroad or through ATM Card. |
| Minimum Balance Requirement | USD 1000/- or equivalent | Nil |
| Account Maintenance Charges | Nil | Nil |
| Premature Closure | USD 10/- or equivalent will be recovered if the A/c is closed within one year except in case of death of the customer | Nil charges |
| Debit Card Issuance | Not permitted | Permitted |
| Issuance of Cheque Book | Not permitted | Permitted |
| Inward Remittance | Free (Nil Charges) | Free (Nil Charges) |
| Repatriation | Only the principal amount can be repatriated to own A/c maintained at overseas centre. No charges for the same. | |
| Documents Required | 1.citizenship Identity Card scanned/photocopy 2.Two Passport Size Photographs 3.Copy of Passport and Visa 4.Any other document prescribed by RMA 5.Application must be routed through RMA 6.Letter of Undertaking that the amount remitted will not be used for money laundering and terrorist financing |
|
| Opening Procedure | 1.Online through RMA portal www.remitbhutan.bt 2.Or 3.Personal Visit to the branch of the bank with approval letter from RMA |
For further information, if any, please visit our Corporate Office, in Thimphu or call us at 02-324497
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