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Moving abroad can be both exciting and challenging. It can change your life for the better but there are a lot of hiccups you have to face in the early transitioning phase. One of the most important things you need to consider is financial management. If you have family or income sources in India or if you wish to return to India in future, you need to consider opening the right NRI banking account. When you open the account, you are required to submit several documents with it. Here are the basic documents you need to submit with your NRI bank account.
Documents required for opening an NRI account As an NRI, you can choose between two types of accounts i.e. the Non-Resident External Rupee (NRE) account for foreign currency deposits (converted at applicable rates into INR) and the Non-Resident Ordinary Rupee (NRO) account for INR deposits to manage investments and income sources in India. Irrespective of which account you open, you need to attach the below mentioned documents to avail NRI banking services.
Things to remember While these are the basic documents required for opening an account for availing NRI banking services, they may not be the only documents required by banks. Here are some important things to remember.
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October 2020
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