NRI FAQ General

    1. How do I access my IDFC FIRST Bank account online?

    You can access your IDFC FIRST Bank account through internet banking or on the mobile app.

    The 1st thing you need to do is create your own User ID & Password.We don’t send you hard to remember user ID & PINs. All you need is your Customer ID (this was sent you on e-mail after your account was opened) and mobile number, follow the steps on https://my.idfcbank.com/start and you will be done in no time.You can also create your user ID & PIN on our mobile app.The mobile APP is also M-PIN/ Biometric auth enabled to allow simple & secure log-in.

    Please note that your Internet Password should:

    • Be something that you can easily recall,yet discreet and not decipherable to others
    • Be a minimum of 8 and maximum of 16 characters
    • Be alphanumeric
    • Not contain blank spaces
    • Not contain the following special characters ", <, >, /, , &, %

    2. How do I update my contact information?

    It is critical that you keep your contact information with the bank updated at all times.You can change  e-mail address on internet banking.To update your mobile number,please send an e-mail from your registered e-mail ID to nriservice@idfcfirstbank.com.We will call you back on your existing registered mobile number to verify your request and identity for your protection, before updating your mobile number


    3. What documents are required to establish I am an NRI?

    We need documents to establish your identity,non residential status & your overseas address.

    Indian Nationals:Copy of Indian Passport + Proof of residence of the overseas country (for e.g. Permanent Resident Card, National ID Car, Work Permit Etc).We also need a proof of address in your country of residence.If your Passport or Proof of residence mentions your overseas address, we will not need a separate address proof.If not, a separate proof of address (for e.g. Driving License,resident permit will be required.)

    Foreign Nationals:Copy of Foreign Passport + Proof of India Origin (Normally a Person of Indian Origin (PIO) Card of Overseas Citizen of India Card).We also need a proof of address in your country of residence.If your Passport or PIO/OCI mentions your overseas address,we will not need a separate address proof.If not,a separate proof of address (for e.g. Driving License,resident permit) will be required.


    4. How do I transfer funds from my IDFC FIRST Bank account to another bank account in India?

    The easiest & quickest way to do this is online–on our website or mobile app.
    You need to know the name of the beneficiary,Bank Name(we have a drop down of all banks in India where you can send money),IFSC Code (if you don’t know the code,we will help you find it as long as you know the branch of the bank),and Beneficiary Account number.

    With this information,you can set-up a beneficiary under the transfer funds option on internet banking.Your beneficiary will get activated within 30 minutes.Go ahead and transfer funds anytime after that.IDFC FIRST Bank will choose the best method of transfer–IMPS immediate/available 24/7),NEFT (National Electronic Fund Transfer)or RTGS(Real Time Gross Settlement).NEFT & RTGS are available during banking hours–if you log-in after banking hours,we will initiate the transfer whenever banking hours open next.

    In most cases IMPS will work,though there are a few banks that are not enabled on IMPS.Do check with your beneficiary.IMPS transfers are currently not enabled for NRE accounts.

    The table below will give you an overview of the options:

    Method IMPS NEFT RTGS
    Availability 24/7, 7 days a week.
    There are 2-3 days in the year when IMPS may not be available
    Available during banking hours India time Available during banking hours India time
    Turn Around Time Immediate debit & credit to beneficiary Immediate debit during banking hours. Credit to beneficiary normally within 1-2 hours Immediate debit during banking hours. Credit to beneficiary normally within 1-2 hours
    Minimum Amount Re. 1 Re. 1 Rs. 200,000
    Maximum Amount Rs. 200,000 per transaction Rs. 20,00,000 per day Rs. 20,00,000 per day

    5. Who can open an NRI Account?

    Two key criteria determine whether you are eligible to open an NRI account with a bank in India

    1. You need to be an Indian citizen living outside of India for an uncertain period of time(like being employed,pursuing education or carrying out any business/vocation)
    2. You need to be an Indian national or of Indian Origin(Person of Indian Original/Overseas Citizen of India)

    6. How do I transfer funds into my IDFC FIRST Bank NRI account from overseas?

    International Wire Transfer:You can wire funds from your overseas bank account to your IDFC FIRST Bank NRI Account.It normally takes 2-3 business days for the funds to reflect in your account after your overseas bank has initiated this international wire transfer.Funds transferred to your IDFC FIRST Bank NRI are available for use as soon as they are credited to your account.The exchange rate applied for your transfer will be the exchange rate on the date on which we receive funds in your account.

    IDFC FIRST Bank does not charge a fee for incoming Wire Transfers,however your local bank overseas may charge a fee for sending International Wires.Your bank will require information such as your IDFC FIRST Bank Account Number,Beneficiary details and routing number.For your convenience,you can complete the details below,print the form and provide to your bank to initiate the wire transfer from your account.

    Online Remittance through third party portals:Your IDFC FIRST Bank accounts are enabled to receive credit from Online/Third Party remittance providers.All you need to do is add your IDFC FIRST Bank Account as a beneficiary;most remittance providers will be able to directly credit your IDFC FIRST Bank Account.Exchange rates and time taken are determined by the remittance provider and not by IDFC FIRST Bank.


    7. I am a foreign national of Indian origin, but I do not have a PIO/OCI Card?

    We recommend you apply for an Overseas Citizen of India(OCI)card as soon as possible.Details are available at http://boi.gov.in/content/overseas-citizen-india-oci-cardholder or http://www.mea.gov.in/oci-related-matters.htm

    If you do not have a PIO/OCI card you would qualify to open an NRI account subject fulfilling any of the following conditions

    • You previously held an Indian passport
    • You were eligible to become a citizen of India on 26th January or any date after that
    • You belonged to a territory that became part of India after 15th August,1947(for e.g.Sikkim,Goa,Daman,Diu)
    • You are a child or a grandchild or a great grandchild of such a person above
    • You are a minor child of such person mentioned above
    • You are a minor child whose parent/parents is/are Citizens of India

    Besides, spouse of foreign origin of a citizen of India or spouse of foreign origin of an Overseas Citizen of India Cardholder and whose marriage has been registered and subsisted for a continuous period of not less than two years immediately preceding the presentation of the application is also eligible for registration as OCI cardholder.

    However,no person,who or either of whose parents or grandparents or great grandparents is or had been a citizen of Pakistan, Bangladesh or such other country as the Central Government may,by notification in the Official Gazette,specify,shall be eligible for registration as an Overseas Citizen of India Cardholder.

    In most cases a copy of current/expired/surrendered Indian passport would need to be provided to satisfy any of the points above


    8. I would like to terminate my Term Deposits before maturity? Will I lose any money?

    Withdrawal of any Term Deposit prior to the original maturity date is called pre-termination.You can pre-terminate a deposit at any time. However,if you pre-terminate a deposit before the minimum tenure of the deposit, then no interest will be paid.

    The minimum tenure for Non-Resident External Deposits and Foreign Currency Non-Resident Deposits is 1 year and the minimum tenure for Non-Resident Ordinary Deposits is 7 days.

    If you pre-terminate a Term Deposit,after you complete the minimum tenure of the deposit,you will earn interest proportionate to period the deposit has been held with the bank less the applicable penalty.The current penal interest is 1%.There no premature penal charges for FCNR deposits being closed after the minimum tenure.This premature penalty would be applicable only for deposits booked or renewed after May 1,2019.

    Please see illustration below for the interest rate applicable on pre-mature withdrawals.

    • Fixed Deposit Amount-Rs. 10,00,000
    • Original Tenure of Deposit-10 years
    • Booking Date-1st Jan 2018
    • Maturity Date-31st Dec 2028
    • Interest Rate for 10 years on 1st Jan 2018-8.25%
    • Interest Rate for 5 years on 1stJan 2018 -6%

    On 31stDec 2023-You decide to break the FD
    Revised Tenure of Deposit-5 years
    Premature Withdrawal Penalty=1%*

     

    Interest rate applicable on the Fixed Deposit would be: Interest Rate Applicable for 5 years(6%)–Premature Withdrawal Penalty(1%)=5%

    Thus,instead of 8.25% you will earn 5% for a period of five years.


    9. What type of bank accounts can be opened by NRIs / PIOs?

    Following types of bank accounts can be opened:

    • Non-resident External (NRE)
    • Non-resident Ordinary (NRO)
    • Foreign currency Non-resident (FCNR)
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Contact us

REGISTERED office:

IDFC FIRST Bank Ltd

KRM Tower, 7th Floor, No. 1,
Harrington Road, Chetpet,
Chennai - 600031, Tamil Nadu,
India

Corporate office:

IDFC FIRST Bank Ltd

Naman Chambers,
C-32, G-Block,
Bandra-Kurla Complex,
Bandra East, Mumbai - 400051,
India

Bank Account Related

For feedback/concerns-
Call us at : 1800-419-4332
Write to us at : banker@idfcfirstbank.com

For escalations-
Call us at : 1800-419-2332
Write to us at : head.customerservice@idfcfirstbank.com

Loan Account Related

For feedback/concerns-
Call us at : 1860-500-9900
Write to us at : customer.care@idfcfirstbank.com

For escalations-
Call us at : 1800-419-2332
Write to us at : head.customerservice@idfcfirstbank.com

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