Malappuram District Co-operative Bank Ltd
General IFS Code: IBKL0209M01 NRE IFS Code: FDRL0SME002

NRI Services

Deposits

IFS CODE for NRI Services : FDRL0SME002
Correspondent Bank: The Federal Bank Limited 
NRE SB Account
  • Accounts can be in the form of Savings Deposit.
  • NRE SB Interest Rate is 4%
  • Joint accounts are permitted.
  • Account can be opened by direct remittance from abroad, transfer from existing NRE accounts.
  • No Income tax deduction at source on interest
  • Balance is exempt from wealth tax and interest earned is exempt from Income Tax.
  • Nomination facility is available
NRO SB Account
  • Accounts maintained in Indian Rupees for routing bonafide local remittance like rent.
  • NRO SB Interest Rate is 4%
  • Joint accounts are permitted.
  • Interest earned in the account is subject to Indian Income Tax.
  • Account can be maintained in the form of Savings Deposits.
NRE Current Account (Interest Free)
  • Accounts can be in the form of Current Deposit.
  • NRE Current Account is an interest free Scheme
  • Joint accounts are permitted.
  • Account can be opened by direct remittance from abroad, transfer from existing NRE accounts.
  • Balance is exempt from wealth tax and interest earned is exempt from Income Tax.
  • Nomination facility is available
NRE Fixed Deposits
  • Can be opened with transfer from existing NRE accounts Joint accounts are permitted.
  • No Income tax deduction at source on interest
  • Balance is exempt from wealth tax and interest earned is exempt from Income Tax.
  • Loans can be availed against security of NRE Term Deposit.
  • Minimum Deposit period is One Year
  • Interest Rate : One year to and including 5 Year 8% and above 5 year 7.5 %

Loans

  • Swapnakoodu Housing Loan
  • General Purpose Mortgage Loans
  • Consumer and Personal Loan
  • Vehicle Loan
  • Deposit Loan
  • Gold Loan (3 to 12 months)

Click Here for : Loans Details

 

 

Click Here for: List of Exchange Houses

Click Here for: List of MDC Bank Branches

Click Here for: NRE/NRO SB Account Opening Form

Click Here for: Malayalam Instructions for NRE SB Account Opening

For more details mail us: nremdcb@gmail.com