Open An Nri Account At Ease

By Author: Vijay K Shetty
Total Articles: 2542
Comment this article

Are you an NRI looking out to invest in Indian companies? Shares, mutual funds and convertible debentures are right investment opportunities for you. Always remember to invest in convertible debentures of Indian companies. If you are of Indian origin and stay abroad you can open up FCNR, NRE or NRO bank accounts for your investment or savings purpose.

Open an NRI account and carry out transactions in five foreign currencies such as Pound Sterling, US dollar, Deutsche Mark, Japanese Yen and Euro. Only banks which are authorized by RBI to deal with foreign currencies are allowed to maintain these accounts. If you are investing in shares and debentures it must be held in FCNR or NRE accounts as these are held on repatriation basis.

Approach only those banks which are authorized to deal with other foreign currencies. They should have a license from the Reserve bank of India to do so. An NRI loan rate may not be the same across all banks. You can compare various banks and settle down with the best. Home loan NRI and NRI insurance plans enjoy income tax benefits. Use your FCNR or NRE accounts to carry out your financial ...
... transactions from abroad. With this, you can enjoy your income earned in India through rent, profits through shares, debentures and mutual funds.

To be able to open an NRI bank account you must adhere to the following criteria. You must be of 21 years of age, hold a valid passport, with minimum qualification of a graduate etc. Your job profile will also be considered if not a monthly salary will be considered. You are free to buy an old house or a new flat on sale with the help of Indian loans. You must approach a bank with a license to deal with foreign currencies and they will serve you the best with their comprehensive loan packages.

Vijay K Shetty, Platinum Author.
Get more information on Offshore Deposit, Open NRI Account