Sending money back home for Non-resident Indians (NRIs) has become easy, thanks to NRI accounts. As an NRI, you can conveniently transfer funds to your contacts in India from a foreign country of your work. These accounts also help you invest in various assets and investment options in India to diversify your global portfolio.
However, you must research and find the most suitable account for opening an NRI account based on your financial requirements. To ease your research process, we have compiled a list of the best NRI performance in India today.
Best NRI accounts in India in 2022
There are different types of NRI accounts, such as NRE, FCNR, and NRO. They fit additional requirements, so choose the version that suits your financial needs. Here are the best NRI charges in India in 2022.
1. IDFC FIRST Bank NRI Account
IDFC FIRST Bank is among India’s leading private sector banks, offering various NRI accounts. Depending on your needs and financial requirements, you can choose between NRE and NRO accounts. The interests in these accounts are calculated on the daily closing balance and credited at the end of every month.
You can conveniently open an NRI account online or offline at your convenience. Moreover, you get an internationally accepted debit card to access your funds anytime conveniently.
2. Axis Bank NRI Account
Axis Bank is another private sector bank that offers customizable banking products for NRI customers. You can choose between NRE and NRO accounts to save your overseas income in India. The bank provides bespoke services, and the funds in these accounts are fully repatriable. You can conveniently open these accounts online as well as offline.
3. HDFC Bank NRI Account
HDFC Bank offers savings and investment accounts through NRE and NRO accounts, and you can select the type of account based on your financial requirements. You can conveniently access your funds through internet banking and internationally accepted debit cards anywhere. The bank offers easy application channels through various online and offline modes.
4. ICICI Bank NRI Account
ICICI Bank offers NRE and NRO accounts to invest in India and save in Indian denominations. You also get complete access to your NRI account through net banking and digital kiosks anywhere and anytime. You can also apply for an NRI account with minimal documentation online or visit the bank branch in person to use it offline.
5. Kotak Mahindra Bank NRI Account
Kotak Mahindra Bank offers exclusive online services, including NRI account opening, without hassles. You get the option of an NRE current and NRO account to choose from, depending on your financial requirement. The bank offers competitive and tax-free interest rates on its NRI account. You can access funds using digital banking services and an internationally accepted debit card at all the ATMs and digital kiosks.
NRI accounts are the best tools to transfer your earnings from a foreign country to India. You can also invest your income in various investment options in India and earn additional wealth. However, before opening an NRI account, go through the services and charges of the bank you wish to open an account in.