If you are an Non-Resident Indians (NRIs) and Overseas Citizens of India (OCIs) living in Kuwait and want to open an NRI account in India to manage your finances, HDFC Bank is a great option. HDFC Bank is one of the most trusted and popular banks in India, offering a wide range of banking products and services for NRIs. In this blog post, we will discuss the process of HDFC NRI account opening in Kuwait.
SBNRI is a business partner of leading Indian banks like HSBC Bank, Axis Bank, Yes Bank, etc. NRIs can apply for an NRE/ NRO account with top banks by clicking the below button.
Process of HDFC NRI Account Opening in Kuwait
NRIs residing in Kuwait can apply for HDFC Bank NRI account opening services to fulfill their various financial requirements in India. HDFC Bank offers two types of accounts for NRIs, namely the NRE savings account, which enables them to securely hold their foreign currency earnings in India, and the NRO account, designed specifically for depositing income earned within India.
How to Open an HDFC NRI Account in Kuwait?
There are primarily two methods for NRIs to initiate the process of HDFC NRI account opening in Kuwait:
- Visiting the HDFC Bank website.
- Opting for online account opening through SBNRI.
Now let us delve deeper into the step-by-step procedure for opening NRI bank accounts with HDFC Bank for NRIs from Kuwait.
Also read: HDFC NRI Account Opening in UAE: Online Application
HDFC NRI Account Opening Online from Kuwait on Bank’s Website
Steps to apply for an HDFC NRI account online from Kuwait:
- Visit the HDFC bank website.
- Go to the NRI Banking section and choose the NRI account option.
- Once the section gets opened, click on the HDFC NRI account opening form.
- Choose the NRI account type – NRE or NRO.
- Click on the ‘Apply Online’ button.
- Complete the NRI account application form online and submit it.
- Within 2 to 3 days, a bank representative will contact you to provide further assistance with the account opening process.
- Once you have the completed form and the required documents are ready, you can send them to HDFC Bank in India.
- If all the information provided in the NRI application form is accurate, your NRI account will be opened within 5 to 7 working days after the bank receives the form.
- The bank will notify you about the account opening status through the email address registered with them.
Also read: SBI NRI Account Opening in Dubai: Easy and Simple Way
Open NRI Account Online through SBNRI App
You can apply for an NRI account online from Kuwait by clicking the ‘Apply for NRI Account’ button in this blog or:
- Download the SBNRI App.
- Log in using your Gmail or Apple ID.
- Next, choose a bank from the options available and click on “Apply”.
- From here, SBNRI takes care of the entire process, including bank communication, documentation, account opening, and activation.
With SBNRI, opening an NRI account is easier than elsewhere. This one-stop platform for NRIs in India also assists with banking, investment, taxation, real estate, and more.
Eligibility to Open an HDFC NRI Account
If you are a Non-Resident Individual (NRI), Person of Indian Origin (PIO), or Overseas Citizen of India (OCI) as per the FEMA definition, you meet the eligibility criteria to apply for an NRI Account with HDFC Bank.
Documents Required to Open HDFC NRI Account from Kuwait
The following documents are necessary for opening an HDFC NRI account in Kuwait:
- HDFC NRI account opening form (A4) signed by all account holders.
- Recent passport-sized photographs.
- PAN card (copy) or Form 60 if PAN is not available.
- Identity proof, such as an Indian or foreign passport.
- Proof of NRI/PIO status.
- Any one address proof, which can be either an overseas or Indian address proof.
HDFC NRI Savings Account: Types
Kuwait-based NRIs have the option to select either NRE or NRO savings accounts with HDFC Bank. Let’s explore the features and benefits of each account type:
HDFC Bank NRE Savings Account
The HDFC Bank NRE savings account provides the following features and benefits:
- NRIs from Kuwait can park their foreign earnings in Indian rupees.
- Competitive interest rates ranging from 3% to 3.5% per annum.
- The interest earned on the NRE account is tax-free in India.
- International debit card facility for convenient cash withdrawal and global shopping.
- Free repatriability of funds to any location outside India.
- NRIs can utilize NRE savings accounts to invest in various asset classes in India, including mutual funds, real estate, and CRE.
- Direct remittance of funds from overseas bank accounts to HDFC Bank is possible.
HDFC Bank NRO Savings Account
Here are the features and benefits of HDFC Bank’s NRO savings account:
- The interest earned on an NRO savings account is subject to taxation in India. TDS (Tax Deducted at Source) is deducted at a rate of 30% plus applicable surcharge and cess.
- HDFC NRO account interest rates range from 3% to 3.5% per annum.
- NRIs can appoint their Indian family members residing in India as mandate holders to operate their NRO accounts.
- Domestic debit cards are provided for easy cash withdrawal and shopping within India.
- Repatriation of funds up to $1 million is permitted from the NRO account in a financial year.
- Personalized chequebook and free email statement facility.
HDFC NRI Savings Account Interest Rates
Effective from 6th April 2022, the interest rates for HDFC savings bank accounts have been revised as below:
| Savings Balance | Interest Rates (p.a.) |
| Less than Rs. 50 lakh | 3.00% |
| Rs. 50 lakh and above | 3.50% |
HDFC NRI Account Minimum Balance
Given below is the Average Monthly balance (AMB) Requirement for HDFC NRI savings account:
- Metro / Urban branches: Rs. 10,000
- Semi-Urban Branches: Rs.5,000
- Rural Branches: AQB of Rs.2,500
HDFC NRI Customer Care
If you are an NRI and have any queries related to HDFC NRI savings account, you can contact HDFC Bank NRI customer care team through email or WhatsApp.
Contact SBNRI
Due to lots of information and documentation required to apply for NRI accounts, NRI account opening process is lengthy and cumbersome elsewhere. You can download SBNRI App to apply for online NRI account opening with nominal documentation in just 10 minutes.
You can also click on the button below to apply for an NRI account. Visit our blog and YouTube Channel for more details.
FAQs
Yes, HDFC bank allows the conversion of resident savings accounts into NRI accounts upon providing the necessary documents and completing the required formalities.
Yes, HDFC provides internet banking services for NRI customers, allowing them to access and manage their accounts online.
An NRO savings account is a rupee-denominated account that allows you to manage your income earned in India, such as rent, dividends, or pension.
