Open NRI account in India: Those born in India but live in another country are labelled NRIs. In other words, this refers to Non-Resident Indian. If you choose to leave your money in an Indian bank from overseas, you require a special account. An account like this is called an NRI account. It lets you send and keep your money safe in India with ease.
Why Do NRIs Need a Special Account?
Normal savings accounts in India are only designed for people who live in the country. A regular account is not available for users living in the USA, UK, Canada, Dubai or similar countries. As a result, banks offer you two strong options called NRE and NRO accounts.
What is NRE and NRO Account?
Use an NRE account to send earnings you get outside India back to India. You are free to transfer the funds into your foreign account anytime you like. Endowment plans made in India do not attract tax.
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An NRO account can be used if you have any house rent, interest or pension income in India. The account helps to handle money made in India. At the same time, the government may decide to tax the money you receive.
How to Open NRI Account in India?
Opening an NRI account is easy. You don’t need to come to India. You can open it online from your home in another country. Follow these simple steps:
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Go to the website of any Indian bank like SBI, ICICI, HDFC, Axis Bank, etc.
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Find the section for NRI Banking and click on “Open Account.”
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Fill a small form with your name, address, email, and mobile number.
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Collect these documents:
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Passport copy
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Visa or work permit copy
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One photo
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Overseas address proof
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PAN card (if you have it)
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Sign these papers and get them verified by the Indian embassy or a notary.
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Send the papers to the bank or upload them online.
After checking your papers, the bank will open your NRI account. You will get your account number and internet banking login. They may also send you a debit card.
Is It Safe to Open NRI Account Online?
Yes, it is 100% safe. Big banks like SBI, HDFC, ICICI, and Axis Bank follow strict rules. Your money is protected and you can use your account anytime from anywhere.
Benefits of Opening NRI Account in India
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You can send money to your family in India
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You can invest or save money in Indian currency
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You get interest on savings
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You stay connected to your home country
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You get online banking, debit card, and support
Final Words
Now you know how to open an NRI account in India. It is easy, simple, and very helpful. You just need a few documents and a little time. If you have any questions, the bank will help you. So even if you are far from India, your money can stay close to your heart.
Braj Verma is a resident of Rajgarh in Madhya Pradesh and is a content writer and freelancer by profession. He has a degree in Political Science from Barkatullah University, Bhopal. He has expertise in subjects like credit cards, banking, loan, insurance, political analysis and digital marketing.