Blogs Frequently Asked Questions

Minimum balances vary by bank, typically ₹10,000–₹25,000. Some banks offer zero-balance NRI accounts for premium customers.

A PAN card is mandatory for NRO accounts due to tax regulations but not required for NRE or FCNR accounts unless making taxable investments in India.

Income tax act says that NRIs have been staying in India for less than 182 days in the financial year or if they've been in India for less than 60 days during the previous year and 365 days.

Indian residents and foreign citizens without Indian heritage cannot open an NRI account. OCI and PIO cardholders are eligible.

Yes, most Indian banks allow NRIs to open accounts online by filling out a digital form and uploading documents. Some require physical verification or notarized copies.

Yes, you can apply online or via courier by submitting a passport, visa, overseas address proof, and PAN (if applicable) to Indian banks. Some banks offer video KYC for remote verification.

Top banks offering NRI accounts include SBI, HDFC, ICICI, Axis, and Kotak Mahindra. The best choice depends on interest rates, remittance services, and online banking facilities.

NRI bank account opened by an Indian citizen who lives outside of India and it is authorized by the Reserve Bank of India

No, it is not allowed for NRIs to buy agricultural land in India directly. However, there are some exceptions, like getting it in inheritance or a gift from an indian resident. The Foreign Exchange Management Act does not allow the NRIs to purchase plantations, agricultural lands, or farmhouses.

There is a whole list of documents that are needed for an NRI if they want to buy property in India: Passport, Visa and Work Permit, OCI/PIO Card, Pan Card, Income Tax Returns, Bank Statements, Proof of Income, Foreign Remittance Certificate, Property Tax Receipts, Sale Deed/ Agreement, Power of Attorney, No Objection Certificate, Title Deeds, Encumbrance Certificate

Yes, an NRI can buy property in India without an Aadhaar card. NRIs don't need to have an Aadhaar card to make property transactions in India.

When any person buys a property from an NRI, the TDS is deducted at the rate of 12.5% plus the Surcharges and Cess on the amount of capital gain.

Yes, you can buy a property in India with an OCI card.

Yes, a PAN card is an important document that is needed to buy a property in India for an NRI

There are a total of nine branches of the ICICI Bank Available in Canada.

There are a total of six branches of the State Bank of India available in Canada.

Yes, you can open an NRI account in Canada. You need to visit the Indian bank branches available in Canada, or you can also open an account through their online portals.

Yes, you can use your ICICI bank account in Canada. All you need to do is enable international transactions on your debit card. You can do this through the ICICI app or by calling the customer care number.

You can contact the SBI Bank Canada on a toll-free number: 1866-724-2669. You can also visit the nearest branch of SBI in Canada.

Yes, you can use your Indian Bank account in Canada, but you should check whether your bank operates in Canada or not. Also, you need to follow some specific rules depending on the type of your account and the purpose of transactions.