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Procedure to open an NRE account online
Posted on Saturday, March 9th, 2024 | By IndusInd Bank
(Please ensure to use the Apply Now, Apply Today , Apply today with IndusInd Bank Call-To-Action
A Non-Resident External account is a type of bank account that can be opened by Non-Resident Indians
NRIs to manage their earnings and investments in India. The process of opening an NRE account online
is quite simple. The advantages of an NRE account include the following:
- Tax-free interest income.
- Easy repatriation of funds.
- No currency conversion risk.
- The ability to hold funds in Indian rupees.
NRE accounts can be used for depositing income earned outside India, such as salaries, rent, or
dividends. They also offer high liquidity and flexibility, allowing NRIs to make investments or payments
in India.
This blog will let you know about the uncomplicated way to open an NRE account online. So, read below
and apply now to open your NRE account: –
Choose a Bank that Suits Your Needs
The first step is to choose a bank that offers online NRE account opening services. Select the bank that
provides the most suitable NRE account for your needs. With so many banks offering NRE accounts, it’s
crucial to compare each account’s features, benefits, and charges to make an informed decision. Many
banks in India offer this service, including IndusInd Bank, HDFC Bank, ICICI Bank, SBI State Bank of
India, Axis Bank, and more. You can call their customer care, walk into any branch, or check online to
find answers to your queries.
Visit Your Favoured Bank’s Website
Once you choose your favourable bank, you should visit the website to compare the features, benefits,
and charges of NRE accounts offered by different banks and choose the one that best suits your needs.
Apply to open your NRE account online only after this research.
Fill in the Application Form
After the first two rigorous steps, your work is more accessible now. You must click on the “Open NRE
account” and complete the application form. You must provide your personal details – name, DOB,
address, email ID, phone number, passport details, occupation, income, etc.
Upload the Required Documents
All the documents supporting your details in the application form must be provided now. The
documents typically required to open an NRE account online include a scanned copy of your passport,
visa, overseas address proof, passport-sized photograph, etc.
Fund Your Account
After you apply for an NRE account online and present your documents, the bank will verify each of
them minutely and upon confirmation, your NRE account will be ready. You can transfer funds to your
new NRE account using wire transfer or online banking services. For the fastest NRE account opening
services, apply with IndusInd Bank today.
To summarise, the process of opening an NRE account online offers NRIs a hassle-free option for
managing their finances while abroad. Thanks to technology, this process can be completed in just a few
minutes from the comfort of your own home or office. By following the steps outlined in this blog, you
can easily open an NRE account and begin taking advantage of the many benefits it provides.
Nevertheless, it’s crucial to review the terms and conditions of the bank you choose and make sure you
have all the necessary documents ready before starting the application process.
