When it comes to banking, there are innumerable options for every kind. An Indian resident staying abroad can easily rely on Non-Resident Indian or NRI banking. It is a great way to ensure your banking needs are well taken care of despite staying overseas. An NRI account is definitely a handy tool. When it comes to opening an NRI account, it becomes difficult to do so as the NRI requires visiting the branch for the same to get done with the account opening formalities. To make it easier, NRIs now can easily open their account at the convenience of their homes by following these steps:
Download the Form:
The first step towards opening your NRI account is by downloading the form from the bank you want. These are offered by a number of banks offering NRI services, and hence you are advised to read the benefits offered with the NRI account as it tends to differ from one bank to another. There are some banks who also offers the option of filling up the form online itself.
Know the Documents Needed:
Before the account is opened, an NRI has to submit the necessary documents. It majorly includes approved the proof of identity, proof of address, proof of NRI or PIO status. It should be in the form of passport copies with a valid visa or PIO card.
There are some banks in which an applicant may have to fill up additional KYC format in order to disclose the tax residency status and all the other related under the CRS and FATCA requirement. This further requires the applicant to submit additional documents and proofs along with the account opening form.
It is vital the documents you submit are attested by the Indian Consulate or overseas bank or should be notarized by a foreign notary. Apart from this, an applicant also has to provide additional proof with self-attestation.
To ensure the form and the other documents reach to the bank safely, it is of paramount importance to dispatch it using the right address. In some countries, banks also offer PO Box service in which NRI can easily drop the application in the post box with the right PO box number.
Certain Points to Remember:
To get the best NRI services in India, you can get in touch with the banks to get more details. The experts are glad to be of your help in more than one way. The experts offer all the assistance needed to complete the account opening formalities.