Opening a NRI bank account

If you are plan­ning or inter­ested in open­ing a NRI bank account, make sure that you fol­low the below points –

Sta­tus of the individual

You should qual­ify as an NRI or PIO before open­ing a NRI bank account. Ensure that you qual­ify as a NRI as described by the Gov­ern­ment of India. http://india.gov.in/

Select­ing a Bank

The most impor­tant point is the bank should be autho­rized by the Reserve Bank of India (RBI) for NRI accounts. Check for the options/facilities by the bank and if the bank has a branch located in your city.

Which account should I open

Based on your sta­tus, you have options of open­ing bank account. Read the arti­cle on” Types of NRI Bank accounts “. You can get all the infor­ma­tion from the bank’s web­site regard­ing the var­i­ous schemes.

Bank Account application

You can apply for a NRI account through online. Visit the bank’s web­site and check for the doc­u­ments required, fea­tures of the bank account, inter­est rates on deposits, tax on inter­est income earned from deposits etc.

Con­clu­sion

Open­ing a NRI bank account has lot of advan­tages which should be availed by you. Make sure you check for all the above men­tioned points before open­ing a NRI bank account.

Related posts:

1. NRI Bank Account
2. PPF account – Do you have it?
3. Open a SBI NRI Account Online
4. How to open a PPF account
5. How to get a Per­ma­nent Account Num­ber (PAN)