NRE (Non Resident External) and NRO (Non Resident Ordinary) are two types of accounts that NRIs (Non Resident Indians) can open if they need a way to transfer money, open a fixed deposit, or buy mutual funds, and stocks in India.
What follows is a sequence of events that will take place, and some pointers that you might find useful while getting a NRE or NRO account.
How to open a NRE or NRO Account?
1. Contact the Bank
There are usually two ways of getting in touch with a bank: either have them call you, or you call their helpline.
Banks like HDFC and HSBC have this option where you can fill up a contact form and then their representative calls you. Whereas SBI lists out its call center numbers for various countries and you can call them to discuss opening an NRE / NRO account.
The first step is to talk to a bank representative because once you talk to the rep – he will inquire which account you need to open, whether it’s joint or single account, and accordingly tell you what documents you need to open the account, and email you the forms as well.
2. Book an appointment to fill the form
Don’t be daunted if you see a big 10 page attachment in your email. The paperwork is not as intimidating as it looks. It will take about 20 minutes to fill up, and can’t be done on your own, but it’s not all that bad.
Because you need help to fill up the form – the bank rep will book an appointment with you (usually telephonic) to go over the forms and walk you through them.
You will have to print them ahead of time and you can fill the easier sections yourself. Leave anything you’re not sure of because there are a lot of things there that aren’t very intuitive. For instance at one point you will encounter a question asking you if you’re politically exposed, and you’ll be tempted to say hell yeah – I’ve been  exposed so bad I’m radioactive. While that may be true, it’s not what they’re asking. So, don’t try to fill the entire form without their help.
Oh, and keep a black pen handy; filling up tons of information while on the phone is a pain in itself – you don’t want to make it worse by having to hunt for black pens!
There are a lot of parts that they will just ask you to skip over or leave empty, so it’s really not as bad as it looks.
3. Get the documents ready
They will ask for documents based on your country of residence and what type of account you’re opening but here are some common ones that you should be ready with.
- Copy of first and last page of passport
- Copy of the visa page on your passport
- Two residence proofs – this can be things like your driver’s license, phone or utility bills, bank statements, pay – stubs etc.
- The filled up account opening forms.
- Passport photograph.
On their website – some banks have asked for these to be notarized, but in reality they don’t always need that. Self – attested documents also do, which is nothing more than signing on every document yourself.
4. Write a check in USD or your currency
You will need to write a check in order to open the account, and this can be done in USD or a few other foreign currencies. They will tell you if you can give the check in the currency of your country, or the alternative if that’s not possible.
5. Mail it to the PO Box or India Address
In some cases the banks will have a PO Box in your country of residence where you can send the documents instead of sending it to India.
However, before you decide to mail the documents to the PO Box check with them to see if there is a difference in processing time if the documents are sent to a PO Box instead of the India address.
These documents are generally processed in India, and sending your documents to a PO box may add to a delay of as much as 15 – 20 days, so before you decide where to send the documents it’s better to check with them on what they advise, and what the difference in cost is.
The bank rep will follow up with you and its a good idea to email him letting him know that you’ve mailed the documents so they can keep a track of when they receive it, and help in processing.
The one thing that’s missing from this post is recommendation on where to open an account, and that’s because I have no answer to that and nor do I have a reasonable way to compare one bank with another. You can choose one with which you’ve had good experience in the past and I’m afraid I don’t have much more input on that.
I’m really keen to hear on your experience with opening an NRE or NRO account so please do share that in comments, and of course all questions and other observations are welcome.
Sir
I want to open NRE online account in bank of Baroda pls. Guid me how can I open online account I am presently in Saudi Arabia.
Thanks
Hello Sir
I am Ravi from IndusInd bank India.
if you really want to open your NRE/NRO/FCNR/PIS
So please call me. +918928901001
rahangdale.ravi@indusind.com
Service is my priority…. believe me
Regards
Ravi Rahangdale
+91 8928901001
Dear sir,Goodmorning I want to open account NRO/NRIin saudi Arabia so please give me idea who can i open account NRO/NRI I am leaving in saudi arabia in jeddeh right now kindly send me mail Iwill look forward please, my no is.0535535983
dear sir, goodeveing
I want to open account NRE/NRO in SBI from saudi Arab so can you tell me that there can be opened account ISB in saudi Arab rihgt now i am living in saudi at jeddah so please give me idea for opening account and plaese send me mail
Best regards,
md shamsher alam
Dear ALL,
Any one wants to open account in any where in India (NRE/NRO)
Please call me.
Over a phone we can open your acccount
Mob:- +91 8928901001
E-Mail Id:- rahangdale.ravi@indusind.com
Service is my priority. and i am bet on that.
Regards
Ravi
I am leaving in Saudi Arabia medhina I want to open NRI account in jammu and kashmir how I can open account you call me on 00966583584833
Hi sir; iam working in kuwait I doing the job house driver sir how to I open the nri bank account.my salary 25000/- per month please tell me sir how to I open account. ..
Hello sir
I’m nikhil from kuwait .I want open a NRI account in federal bank. I’m working in amearicana kuwait
Its me tarique from ksa I wand to open nre/nro account .please send me all details
I am leaving in Saudi Arabia I want to open my NRI account in maharashtra can you call me on 00966508945130
NRO A/C HOW TO OPEN
sir/ madam.
My brother in chinna. My brother want to open NRO account .so my brother have no idea how to open a account. so can u please suggested to me as soon as possible. My brother want to immediately opening account.
Dear KANTHASAMY.S Sir,
I am Ravi from IndusInd Bank.
I can help you to open NRE/NRO account
I need only very few document to open the account.
contact no +91 8928901001
Email Id:- rahangdale.ravi@indusind.com
or ravi.rahangdale87@gmail.com
if you can confirm me over call or mail so i can provide you the list of documents which i need.
Service is my Priority.
Regards
Ravi Rahangdale
8928901001
INDIA.
Sir I want a NRE A/C in SBI, Dhekiajuli Assam Branch. It is how to possible plz reply me. I m in UAE last 9 years.
Sir, Im working in Qatar for last two yrs. I want to open NRE and NRO together. Suggest me what advantage and disadvantage between them. Its mendotory to deposite every month or after competion my work visa its will be active?
my names faiyaz umer mukadam I live in saudi arbia jeddah I want to open INR account with HDFC Bank M No :00966535704884
sair:
my name is faiyaz umer mukadam i live in saudi arbia jeddah i want to open NRI account with Hdfc bank m no: 00966535704883
Nro open account canarabank thondarnadu
sair.. may name is Md Parwez Alam l Live in saudi arbia I want to open NRE & NRO account with HDFC bank. M No.+966532593869
Requested sir I am Yuvraj patil working riyadh. i wont to open nri account please gide me. my email address yuvrajpatil22974@gmail.com yuvrajpatil22974@gmail.com
I am looking for Nre account with Hdfc Bank. Plz call me on my malaysia no 0146477200.
I would be working in manila if my company approves it and this would be temp for may be 6 months can i opena NRE account
I am keen to do this with ICICI Bank – open an NRE account.
I have downloaded and completed all the forms, got a passport picture, copied all my documentation, but despite having called their helpline, I do not know who to make the initial deposit cheque payable to! Can you help?
Should I make it payable to ICICI Bank or myself so that they can pay it onto my account when they open it?