There are a few different kinds of NRI accounts. Some banks offer the NRI bank accounts which have a number of features like you can withdraw Rs 40,000 from the ATM daily, you could enjoy personal banking benefits through specially designed account for the NRIs who do wish to get interest credited to their savings account.
There is also the option of multi-channel banking where through internet banking you could transfer funds, pay bills, view account summary in internet banking. Through mobile banking you could check balances transfer funds, request for cheque books and also you could make your utility bills payment using your mobile phone, you will also get SMS alerts and monthly e-statements and quarterly physical statements to keep a track on the bank transactions and other banking activities.
An NRI account would also get personalised cheque book every quarter. There is a host of other banking benefits and facilities, you could get special privileges on remittances from your relatives and friends abroad, you will also be able to keep a joint account, enjoy loyalty reward points.
You could also keep your assets safe, there are lost card liability and also purchase protection liability up to a certain amount to protect against the fraudulent usage of the credit card, it could also be put to use during the damage or the loss of articles purchased with the debit card.
Along with that you also have the NRE savings account which can be opened by any person staying outside India. All the NRI’s who have an NRE account in India are given the permission to hold and maintain foreign currency earnings in Indian rupees. All the funds along with the accrued interest are freely repatriable and what’s more the interest that is earned is not taxable in India. The NRE account can be easily converted into a regular resident account with the relocation of the NRI back to India. The account is structured ina manner that is suitable for most people who are living abroad. He or she might be a professional who is deputed overseas or an entrepreneur moving all across the world to do his business. It is also very convenient to start off; you just need to submit a few documents to get started with your very own NRE account. There are lot many features that are for your benefit. Some features like low minimum balance requirement, tax advisory services, multi-city cheque books, online transaction options. There are all the features that are required by any Non-resident Indian to tactfully maintain their balances in India. Therefore it is very necessary to have an NRI account for any non-resident Indian.
There is also the option of multi-channel banking where through internet banking you could transfer funds, pay bills, view account summary in internet banking. Through mobile banking you could check balances transfer funds, request for cheque books and also you could make your utility bills payment using your mobile phone, you will also get SMS alerts and monthly e-statements and quarterly physical statements to keep a track on the bank transactions and other banking activities.
An NRI account would also get personalised cheque book every quarter. There is a host of other banking benefits and facilities, you could get special privileges on remittances from your relatives and friends abroad, you will also be able to keep a joint account, enjoy loyalty reward points.
You could also keep your assets safe, there are lost card liability and also purchase protection liability up to a certain amount to protect against the fraudulent usage of the credit card, it could also be put to use during the damage or the loss of articles purchased with the debit card.
Along with that you also have the NRE savings account which can be opened by any person staying outside India. All the NRI’s who have an NRE account in India are given the permission to hold and maintain foreign currency earnings in Indian rupees. All the funds along with the accrued interest are freely repatriable and what’s more the interest that is earned is not taxable in India. The NRE account can be easily converted into a regular resident account with the relocation of the NRI back to India. The account is structured ina manner that is suitable for most people who are living abroad. He or she might be a professional who is deputed overseas or an entrepreneur moving all across the world to do his business. It is also very convenient to start off; you just need to submit a few documents to get started with your very own NRE account. There are lot many features that are for your benefit. Some features like low minimum balance requirement, tax advisory services, multi-city cheque books, online transaction options. There are all the features that are required by any Non-resident Indian to tactfully maintain their balances in India. Therefore it is very necessary to have an NRI account for any non-resident Indian.
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