How to Open Canara Bank NRI Account?

Cannara Bank is a famous and trusted name in the banking and finance industry. They try to provide the best possible services to their customers. For NRIs, you can open the NRO and NRE accounts to access the banking facilities in India. There are many benefits of the Canara Bank NRI account. These convenient services can be very helpful if you have any income sources in India. You can also use these NRI accounts in Online Trading (OLT). In this blog, we have provided information about the Canara Bank NRI accounts and how you can use them to make savings in foreign currencies. 

Which Documents are Required to Open a Canara Bank NRI Account

While opening a Canara Bank account, you are going to need some documents supporting your application for an NRI account opening. Here is the list of all the documents required:

• A valid passport
• Proof of NRI status
• NRI account opening form
• Proof of Indian address
• Overseas address proof
• PAN Card or Form 60
• Your passport-sized recent photographs
• An initial deposit is required, depending on your account type

You should take care that you need to submit the printed copy of these documents with self-attestation. In some cases, you may need to submit the documents attested by the Indian Embassy in your country of residence. 

How to Open a Canara Bank NRI Account Online?

There are two ways by which you can open your NRI account in Canara Bank, one is by visiting the branch of Canara Bank in India, and the other is that you can open your Canara Bank NRI account from their website online. Here are the steps by which you can open these accounts:

• Visit the Canara Bank's official website.
• Choose which one, NRO or NRE account, and then download the form for the Canara Bank NRI savings account and fill it out completely. 
• Affix your recent photographs.
• Gather the Canara Bank NRI account opening form and all the supporting documents attested by the judge, magistrate, notary public, court, Indian embassy, local banker, or consulate general of the country where you are currently residing.
• Send the application form for the NRI account and all the gathered documents to the designated branch of the Canara Bank in India. 
• Once all the documents are received by the bank and after the verification process is done, your NRE/NRO bank account will be opened in Canara Bank.

What are the Benefits of Canara Bank NRI Accounts?

 There are many benefits to the Canara Bank NRI accounts. They provide a solid foundation for managing finances that are connected to India. Canara Bank always tries to fulfill your needs, from providing reliable service to the backing of an established institution. Here are some of the benefits of the Canara Bank NRI accounts:

• Trusted Institution: Cananra Bank has a long-standing reputation for being reliable and for providing the best banking solutions to all its customers. They always try to meet the requirements of the customers and provide customer-centric services.
• Convenience: You can manage your account online from the website and get assistance 24/7 from anywhere in the world. There are digital banking platforms by which you can access Canara Bank Netbanking services at all times and make transactions.
• Competitive Interest Rates: Canara Bank interest rates provide very good returns on your deposit in the accounts. It provides good comparative interest rates so that you can make a decision on where to invest. You can also earn interest on your foreign currency deposits. 
• Dedicated NRI Services: Canara Bank provides tailored solutions that are according to the needs of individual NRIs. You can explain your needs to one of the agents in the bank, and they can also assist you according to your requirements.
• Tax Benefits: Canara Bank online accounts provide tax benefits to the NRIs, which means the interest you earn on the NRI accounts is free in India. The whole principal amount and the interest earned on it are yours, and you can also use them by using Canara Bank's net banking services. It is a great way of enjoying tax exemptions in India.

What are the Canara Bank interest Rates?

The interest rates for the Canara Bank depend on your outstanding balance. Here is the list for different amounts: 

Why Choose Visament for NRI Account Services?

As an NRI, choosing to open an NRI account can be the best decision for your financial management in India. There are many benefits of the Canara Bank NRE savings account, and you can also earn interest on your deposits. If you want to open an NRI account from home, choose Visament. We provide NRI account services, and you can open your NRO account and NRE account with the help of our experts. We provide a hassle-free experience to our customers. You can go to the website and click on the services to open the NRI accounts.