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Key Takeaways: Many NRIs have financial commitments in India. An NRE account lets you save your foreign income in rupees and makes it easy to manage your India expenses. We bring you a guide on how to open an NRE bank account.
Whether you want to send money to family, invest in Indian securities, pay utility bills or earn an attractive interest, a Non-Resident External (NRE) account is an ideal solution for all NRIs.
An NRE account allows people who reside outside India to save the money they earn overseas with a bank in India.
Features and benefits of an NRE Savings account
Before we look at how to open an NRE account, let us look at the benefits such an account offers.
Would you like to explore more benefits? Get started with DBS Treasures. Know More.
How to open an NRE account?
The first step in the process is to make sure you are eligible to open an NRE account. Here's a list of all those eligible:
What are the documents needed to open an NRE account?
The documents needed by NRIs and PIOs are of two types – identity proof and address proof. You will need a valid passport and address proof of your residence overseas and income documents such as a PAN card and Form 60. You may be required to submit proofs of a permanent address in India. In addition, you will need to provide a passport-size photograph and proof of your NRI or PIO status to be eligible for opening an NRE account in India.
How to open an NRE account online
Click here to begin the application process for opening an NRE account. Some documents may require attestation from the Indian embassy in your country, a notary or even an overseas bank branch of an Indian bank. Our Relationship Manager will guide you through the process and help you set up your account with ease.
Final Note: Once you know how to open an NRE account, you can easily start planning your savings and grow your investments. The tax-free status of NRE accounts makes them extremely attractive. If you are wondering whether this is the right choice for you, speak to one of our Relationship Managers.