Abu Dhabi: Emirates NBD on Wednesday announced a partnership with Yes Bank, India’s fifth largest private sector bank to offer credit facilities against NRE fixed deposits that allows Non-Resident Indians (NRIs) in the UAE to avail high loan amounts coupled with flexible repayment options, while continuing to enjoy guaranteed returns on their existing fixed deposits in India.
The NRE FD credit facility will be offered to UAE-based NRI customers of Emirates NBD who are also customers of Yes Bank. The NRE FD credit facility can either be obtained as a loan in the UAE against an existing NRE or FCNR (Foreign Currency Non-Repatriable) Fixed Deposit in Yes Bank in India, or as a loan to augment a fixed deposit in India, according to a statement.
