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* All details updated as on Apr 29, 2019

Yes Bank

Interest Rate
6.00%
Average Balance
Rs 10,000 /
Application
Branches
Details
+ Free international debit cum ATM card and a cheque book
+ 6% interest rate for balance over INR 100,000 and 5% for balance upto INR 100,000
Provider
Interest Rate
Average Balance
Application
Details
Provider
Yes Bank
9 reviews
Interest Rate
6.00%
Average Balance
Rs 10,000 /
Application
Branches
Details
+ Free international debit cum ATM card and a cheque book
+ 6% interest rate for balance over INR 100,000 and 5% for balance upto INR 100,000
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Complete Results

IDFC Bank

Interest Rate
7.00%
Average Balance
Rs 25,000 / Monthly
Application
Online
Details
+ Earn 6% for < 1 lakh, 6.5% for 1 to 2 Lakh, 7% for 2 lakhs & above

+ 100% online application process

+ Unlimited free fund transfer in India

+ No charges for banking transactions if minimum average balance is Rs 25,000

+ 24/7 Anytime Anywhere Access

Yes Bank

Interest Rate
6.00%
Average Balance
Rs 10,000 / Quarterly
Application
Branches
Details
+ Free international debit cum ATM card and a cheque book
+ 6% interest rate for balance over INR 100,000 and 5% for balance upto INR 100,000

Kotak Mahindra Bank

Interest Rate
4.00%
Average Balance
Rs 10,000 / Quarterly
Application
Post
Branches
Details
+ Free international debit cum ATM card and a cheque book
+ Anywhere Banking

ICICI Bank

Interest Rate
3.50%
Average Balance
Rs 15,000 / Quarterly
Application
Post
Branches
Details
+ Free international debit cum ATM card and a cheque book

HDFC Bank

Interest Rate
3.50%
Average Balance
Rs 10,000 / Quarterly
Application
PostBranches
Details
+ Easy Online Money Transfer

+ Special Forex Rates

+ Earn Tax Free Interest

+ Easy Online investing in Mutual Funds

+ Free international debit and ATM card and a cheque book

HSBC Bank

Interest Rate
3.50%
Average Balance
Rs 75,000 / Monthly
Application
Branches
Details
+ Free international debit cum ATM card and a cheque book

Citi Bank

Interest Rate
3.50%
Average Balance
Rs 40,000 / Monthly
Application
Post
Branches
Details
Rupee Checking Account (Monthly average balance of Rs 40,000)
+ Free international debit cum ATM card and a cheque book
- Minimum account opening deposit of USD 5000

Preferred Rupee Checking Account (Monthly average balance of Rs 200,000)
+ Free international debit cum ATM card and a cheque book
+ Exclusive privileges on Gifting, Travel and Entertainment
+ Exclusive lifestyle, travel and dining privileges with the MasterCard Platinum ATM / Debit Card
+ Waiver of charges on duplicate statement

Axis Bank

Interest Rate
3.50%
Average Balance
Rs 10,000 / Quarterly
Application
PostBranches
Details
Basic Savings Account
+ Free international debit cum ATM card and a cheque book

Prime Savings Account:
+ Free international debit cum ATM card with Rs 50,000 daily withdrawl limit and a cheque book
+ Anywhere banking
+ Free add-on, zero balance domestic savings account for your friend or relative in India
+ Unlimited Free DD/PO on Axis Bank centers (for personal purposes)
- Average Quarterly Balance of Rs 25000

Standard Chartered

Interest Rate
3.50%
Average Balance
Rs 25,000 / Monthly
Application
Online Branches
Details
Globally valid VISA Platinum Debit Card that offers:
1. Higher limits for ATM withdrawals & purchases.
2. Zero Fuel Surcharge across Petrol Pumps in India.
3. Exciting Discounts & offers on Dining.
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Provider
Interest Rate
Average Balance
Application
Details
Provider
IDFC Bank
0 reviews
Interest Rate
7.00%
Average Balance
Rs 25,000 / Monthly
Application
Online
Details
+ Earn 6% for < 1 lakh, 6.5% for 1 to 2 Lakh, 7% for 2 lakhs & above

+ 100% online application process

+ Unlimited free fund transfer in India

+ No charges for banking transactions if minimum average balance is Rs 25,000

+ 24/7 Anytime Anywhere Access
 
Provider
Yes Bank
9 reviews
Interest Rate
6.00%
Average Balance
Rs 10,000 / Quarterly
Application
Branches
Details
+ Free international debit cum ATM card and a cheque book
+ 6% interest rate for balance over INR 100,000 and 5% for balance upto INR 100,000
 
Provider
Kotak Mahindra Bank
2 reviews
Interest Rate
4.00%
Average Balance
Rs 10,000 / Quarterly
Application
Post
Branches
Details
+ Free international debit cum ATM card and a cheque book
+ Anywhere Banking
 
Provider
ICICI Bank
25 reviews
Interest Rate
3.50%
Average Balance
Rs 15,000 / Quarterly
Application
Post
Branches
Details
+ Free international debit cum ATM card and a cheque book
 
Provider
HDFC Bank
5 reviews
Interest Rate
3.50%
Average Balance
Rs 10,000 / Quarterly
Application
PostBranches
Details
+ Easy Online Money Transfer

+ Special Forex Rates

+ Earn Tax Free Interest

+ Easy Online investing in Mutual Funds

+ Free international debit and ATM card and a cheque book
 
Provider
HSBC Bank
1 reviews
Interest Rate
3.50%
Average Balance
Rs 75,000 / Monthly
Application
Branches
Details
+ Free international debit cum ATM card and a cheque book
 
Provider
Citi Bank
0 reviews
Interest Rate
3.50%
Average Balance
Rs 40,000 / Monthly
Application
Post
Branches
Details
Rupee Checking Account (Monthly average balance of Rs 40,000)
+ Free international debit cum ATM card and a cheque book
- Minimum account opening deposit of USD 5000

Preferred Rupee Checking Account (Monthly average balance of Rs 200,000)
+ Free international debit cum ATM card and a cheque book
+ Exclusive privileges on Gifting, Travel and Entertainment
+ Exclusive lifestyle, travel and dining privileges with the MasterCard Platinum ATM / Debit Card
+ Waiver of charges on duplicate statement
 
Provider
Axis Bank
7 reviews
Interest Rate
3.50%
Average Balance
Rs 10,000 / Quarterly
Application
PostBranches
Details
Basic Savings Account
+ Free international debit cum ATM card and a cheque book

Prime Savings Account:
+ Free international debit cum ATM card with Rs 50,000 daily withdrawl limit and a cheque book
+ Anywhere banking
+ Free add-on, zero balance domestic savings account for your friend or relative in India
+ Unlimited Free DD/PO on Axis Bank centers (for personal purposes)
- Average Quarterly Balance of Rs 25000
 
Provider
Standard Chartered
0 reviews
Interest Rate
3.50%
Average Balance
Rs 25,000 / Monthly
Application
Online Branches
Details
Globally valid VISA Platinum Debit Card that offers:
1. Higher limits for ATM withdrawals & purchases.
2. Zero Fuel Surcharge across Petrol Pumps in India.
3. Exciting Discounts & offers on Dining.
* All details updated as on Apr 29, 2019
This site is for informational purposes only. Nothing on this site should be construed as advice. When you click on "Learn more" button, you will be directed to the provider's website where you need to register for the service. We may get paid if you use services from providers listed here. The providers are included based on their rates, service charges, turnaround time and reviews.

NRI Savings FAQs

What is NRI banking and what are different types of NRI bank accounts which can be maintained by an NRI, OCI or PIO in India?

With a view to attract the savings and other remittances into India through banking channels from the person of Indian Nationality/Origin commonly known as Non Resident Indians (NRI), Person of Indian Origin (PIO) or Overseas Citizen of India (OCI), who are residing outside India, the Government of India introduced Non-Resident(External) Account Rules in 1970 which are governed by the Exchange Control Regulations. NRIs, PIOs and OCIs residing overseas can open and maintain bank accounts in India known as NRI savings bank accounts with an authorised dealer or co-operative bank or any other bank or public financial institution which is specially authorised or exempted or permitted in this behalf by the Reserve Bank under the Act without seeking any permission from the Indian government authorities.

 

An NRI/PIO can maintain an NRO account (Non-Resident Ordinary Rupee Account) savings, NRE savings account (Non-Resident External Rupee Account) or FCNR (B) account (Foreign Currency Non-Resident Bank Account) with any bank in India. NRO Savings accounts can also be maintained with the Post Offices in India.

 

Compare at nriDealExpert.com to find out the best NRO savings accounts or NRE savings accounts in India.

What is an NRE savings bank account?

The Non-Resident External Account (NRE Account) is bank account held in India, in Indian Rupees. The nature of the account can be is a Savings Account, Current Account or a Fixed Deposit. The foreign currency earnings can be deposited into the NRE savings account by transfers from your country of residence or transfers from other NRE accounts in India. To deposit money into an NRE account, you need to convert foreign currency into Indian Rupees (USD to INR, GBP to INR, CAD to INR, AUD to INR, etc) by transferring money to your NRE account in India. You can open either NRE Savings or NRE current or NRE fixed deposit in India. To open NRE fixed deposit, you need to first transfer money to your NRE savings account and then give a request to your bank in India to open a NRE fixed deposit. You can always convert the money lying in your NRE account (NRE savings account or NRE fixed deposit) back to foreign currency and repatriate the sum out of India, since both principal and interest earned in this NRE account (NRE savings account or NRE fixed deposit) are freely repatriable.

 

Compare at nriDealExpert.com to find out the best NRE savings accounts in India.

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