NRIs always want to park their Indian earnings or remit funds through various channels. NRI has the option to open a Non-Resident Ordinary Rupee (NRO) account. An NRO account can also be opened by a Person of Indian Origin (PIO) and an Overseas citizen of India (OCI).
NRO current account is an account for foreign nationals on visits to India.
Know what are the documents needed to open an NRO current account
- Photocopy of the pages of the passport containing passport details and personal details of all applicants.
- Copy of Permanent Account Number (PAN) / Form 60 (in the absence of PAN).
- Copy of valid visa or your work permit
- One passport photograph of each applicant
- One document confirming either the overseas or Indian address.
- The address on the document has to match the address mentioned in the application form.
An Initial Payment Cheque / Draft from your own account equivalent to the amount required to maintain the Average Monthly Balance in the account. (In case of Draft, DD slip is mandatory).
If the applicant cannot come to the HDFC Bank branch for account opening, all photocopies of the above documents to be attested by Indian Embassy or by a Notary. This applies to people who are residing in a non-FATF country. If the documents are not certified, then all documents need to be self-signed and submitted along with one additional document. How To Withdraw PPF Account For NRIs?