Bank account in India for NRIs/PIOs are regulated by RBI rules. This is almost mandatory for NRIs to have one to manage their money in India and sending money form outside India. These accounts are subject to Indian Banking Regulation Act and FEMA. Deposits in these accounts can be kept in any of the currencies of the basket or INR, and carry special rates of interests different from domestic rates on deposits. The accounts can broadly be operated as normal bank account but of course subject to Indian Banking Regulation Act and FEMA. The conversion of currency into INR attracts the normal rates of conversion offered by the respective banks to its customers, with rider of some marginal good rates to the customers having good banking relations. Following types of account can be maintained by NRI / PIO:
Services Include on below mentioned Banking instruments
To avail this service, send an email to contact (at) GermanyMantra.com with Subject Line, NRI Banking. Don't forget to write your full name and contact number. Who is Non Resident Indian ?A Non-Resident Indian (NRI) is a citizen of India who holds an Indian passport and has temporarily emigrated to another country for six months or more for work, residence or any other purpose.Who is PIO ?A person of Indian origin (PIO) is a person of Indian origin or ancestry and some other countries who was or whose ancestors were born in India but is not a citizen of India and is the citizen of another country. A PIO might have been a citizen of India and subsequently taken the citizenship of another country. Non-Resident Indian is often faced with the situation of maintaining a Rupee account in India. Primarily there are two reasons for opening such account: NRI wants to repatriate overseas earned money back to India and/or NRI wants to keep India based earnings in India. NRI has the option of opening a Non Resident Rupee (NRE) account and/or a Non Resident Ordinary Rupee (NRO) account. An NRO account can also be opened by a Person of Indian Origin (PIO) and an Overseas citizen of India (OCI).What is Difference between NRE and NRO Account ?The Differences between NRE and NRO accounts:
Following is a list of few banks offering NRI Banking services. Most of the banks provide these services. Disclaimer: GermanyMantra does not take any responsibilities about the product, services, quality provided by these banks. |
Finance >
NRI Banking for Indians
Bank Name | Website | Comment |
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Deutsche Bank | Deutsche Bank NRI Banking | Leading German bank having Bank branches in India |
ICICI Bank | ICICI NRI Banking | |
HDFC Bank | HDFC NRI Banking | |
State Bank of India | SBI NRI Banking | India's largest bank |
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