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.
I am Saudi Arab I need NRI account my mobile no 966593308805
I am Saudi Arab I need NRI account
I want to open an NRI account in UAE. My mobile number 0566021348.
Regards,
Kuntal Adhikary
Hello sir
Have a nice day…sir I have a nro account..I want know that did we deposit the money from India.in nro account or not..
Thank-you.
I want create canara account india
I am working in saudi so
plz need branch contect nunumber
I want create Canara account so I need Abu Dhabi branch contact number
Please call 0561323957
Dear sir
I want create canara account india
I am working in uae abu dhabi so
plz need branch contact number
Hai Sir,
I want to open a NRE Account,Iam having a valid UAE Visa & I came to Saudi Arabia for a temporary assignment.
Mobile # +966-55-6874412
Which Indian bank should I prefer to open NRI account?
Dear Megha,
I am from kotak mahindra bank and I can help
You for opening online nri a/c.
Kindly share your contact detail,
Email id-
Contact no.
Thanks
Firoz alam
i want to open nro account in hsbc bank can you help me please to open account
Dear Mr Syed Yaqoob Ali,
Plz call me or Msg me,
I can hlep you for account opening.
Regards
Ravi
+91 8928901001
Sir,
I have local account in SBI Hyderabad . Can I get Home Loan on existing account? or shall I convert my local SBI account to NRI account. To have Home loan. Presently I am working in ABU DHABI. Please Provide me the detail information.
Thanks
Regards
Syed Saadat Ali
971 0503009506
Abu Dhabi
dear sir
kindly send all detail of NRE WITH NRO Account opening detail.
and i working in Saudi Arab how apply account form and how can found all bank paper.
please send
best regards
Maqbool ain
I want to open nri account in hdfc
Dear Md. Hameed,
I can help you for (NRE/NRO) account opening.
Ravi
+91 8928901001
Dear Sir/ Ma’am
I am Ravi Rahangdale working for a NR Banking in India.
I can help you for opening NR accounts.
Please call me or Msg Me or whatsup me.
Regards
Ravi Rahangdale
+91 8928901001
NR Banking- India
I want to open nro account I am in soudi arabiya can u give me account details email..achiasif399@gmail.com
Dear Sir,
Give me your email id and then I am sending
Online form.
Thanks
Firoz Alam 7838101899
Kotak Mahindra bank
Please inform me how to create a nre account from saudi arabia
Dear Sir,
I want to open NRO A/c. I am in UAE, Can you give me Details
how to open account in SBT
+971-558063964
Dear Sir,
Give me your email id and then I am sending
Online form.
Thanks
Firoz Alam 7838101899
Kotak Mahindra bank
Hi,
My name is kenneth, i working in muscat , oman
I want to open nri saving acount with hdfc, how can apply
Sir i open nri account please give me a address new sannaya riyadh ksa.my contract number 00966531319173
Dear sir
I,m any Indian bank account opening
I work in jubail KSA. My jobs electrical
My mobile number +966545705289
Please help me