Types of NRO Accounts

NRO Savings Account helps you to route your domestic earnings

NRO Savings Account

Easily manage your Indian income and savings in an NRO Savings Account

Manage local remittances like rent in an Indian Rupee Account
Enjoy joint accounts with loved ones

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NRO Current Account

Effortlessly handle business and personal transactions in Indian Rupees with an NRO Current Account

Simplify operations with joint account options
Stay compliant with Indian Income Tax on interest earned

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NRO Term Deposits

Enjoy maximum returns on your hard-earned money and save them in flexible terms to suit your financial needs through NRO Term Deposits

Attractive interest rates to help NRIs grow their funds
Flexible terms to make savings more convenient and adaptable

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How to open an NRO Account?

NRI account opening online is quick and hassle-free. Walk into your closest branch or visit our NRO Account page, choose the NRO account type that best suits your needs, and begin the account opening process in just a few minutes. To complete the process, you will need a valid passport, proof of your Indian address, and a recent photograph.

Who is eligible to open an NRO/ NRI Account?

Only NRIs, PIOs, or OCIs can open an NRO account. According to the FEMA regulations, you qualify as an NRI if:

You reside outside India (excluding Nepal and Bhutan) for more than 182 days in a Financial Year (April-March).
You have provided valid documents demonstrating your intention to reside abroad indefinitely. This includes:
- Resident Indians preparing to move abroad for employment.
- Students planning to pursue studies overseas.
- Seafarers working on international ships.

NRO Joint Account:
As per the latest RBI guidelines, NRO accounts jointly with residents can be opened only on ‘Former or Survivor’ operational clause. Existing NRO accounts which are jointly held with residents with other operational clauses have to be changed to ‘F or S’ with immediate effect. Customers holding such accounts are requested to contact the branch where their NRO account is maintained and submit a request (click here to download) signed by both the NRI and the resident joint holder to change the mode of operation clause to F or S at the earliest. Henceforth the operational clause in these accounts will be automatically converted to ’F or S’ and can be operated only by primary NRI holder. Joint resident holder may operate the NRO account only as a POA (Power Of Attorney)/Mandate holder of primary NRI holder.

Frequently Asked Questions

To get answers to the frequently asked queries

Yes, an NRI can repatriate funds to his resident country up to a specific limit.

You can open any NRI account by visiting our India branch or by applying online. To apply online, you must complete the application and upload the necessary documents.

Application form duly filled and signed.
Copy of latest valid passport.
Proof of address and residence, such as a copy of the statement of your bank account maintained abroad or a certificate from your employer abroad.
PAN CARD or FORM 60.
Two passport-size photographs.
Initial remittance by way of DD issued by a foreign bank or an exchange company abroad, cheque drawn on a foreign bank in your country of residence, or local remittance in INR is also permitted.