Opening Your First NRI Account? Follow These Tips

Non-Resident Indians (NRIs) often find it beneficial to maintain a savings bank account in India for easy financial management back home.

Here are simple tips and steps to follow if you want to open your first NRI account

Step 1 – Choose an account

There are two types of accounts available – NRO and NRE. Choose the most suitable account depending on your needs. 

Step 2 – Offline v/s online

You can visit the bank branch when in India or open an account online from your country of residence. 

Step 3 – Account opening form

Fill out the account opening form online or offline and submit it to the bank with relevant KYC documents.

Step 4 – Documents required

Common documents include ID proof, proof of NRI status, overseas address proof, FATCA-related documents, etc. 

Step 5 – Deposit the amount

Post account opening, fund your account to enjoy maximum benefits.

Deposits can be made in Indian or foreign currency, depending on the account opened.

IDFC FIRST Bank offers NRI Savings Accounts with monthly interest credits up to 7% p.a. and a host of NRI Banking Solutions. Choose and open the account online.