Kuwait is one of the major countries across the globe to have Indian diaspora. It has over 10.2 lakh NRIs/OCIs, making it almost 30% of the overall population of Kuwait. Such a large Indian diaspora of Non-Resident Indians (NRIs) and Overseas Citizens of India require Indian banking services to access investments, fund transfer, and more to India. In this blog, we’ll take a look at the list of Indian banks in Kuwait, along with their addresses and contact details.
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.
Indian Banks in Kuwait
Currently, there are no overseas branches or representative offices of any Indian bank in Kuwait. However, all major banks have a dedicated relationship looking for the requirements of NRIs/OCIs in Kuwait. Among these are Federal Bank, South Indian Bank, and more.
Despite no physical presence on the ground in Kuwait, all Indian banks offer NRI services via online mode where users can open NRI Bank Account, NRI Fixed Deposit, avail remittance services, credit, loans, and more. Opening an NRI Bank account in Kuwait is simple and hassle-free.
Also read: SBI NRI Account Opening in Kuwait Online: Seamless and Hassle-free
NRI Account Opening in Kuwait
NRIs living in Kuwait must open an NRI bank account to conduct financial transactions in India. You can open an NRI account in all major Indian banks from Kuwait to conduct several online transactions in India such as fund transfers, investment in mutual funds, income tax return filing, home loan application, etc.
Also read: HDFC NRI Account Opening in Kuwait Online: Seamless and Hassle-free
Apply for an NRI Account Online through the Bank’s Website
Indians living in Kuwait can fill out the NRI account opening application form and send it to the Global NRI center in India. Here is the step-by-step process:
- Visit the Bank website.
- Go to the NRI Banking section and choose the NRI account option.
- Once the section gets opened, click on the 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 the Bank Branch 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: List of Indian Banks in Dubai: Address, Contact Details
Online NRI Account Opening through SBNRI app
You can apply for an NRI account online from Kuwait in a couple of minutes without visiting Indian Embassy to get the documents attested. Listed below are the simplest steps to open an NRI account via SBNRI app:
- Download the SBNRI app from the Google Play Store or App Store.
- Sign in using your credentials.
- Click the ‘Open NRI account’ button and select the bank with which you wish to open an NRI bank account from the bank list.
- Scan and upload KYC documents using the in-app scanning feature.
- Click on ‘Apply’ and you are done.
Also read: SBI Bank International Branches List: Address, Contact Details
Documents Required for NRI Bank Account in Kuwait
NRIs Status Proof
- Valid Indian passport/ visa or work permit
- For NRIs with seafarer work profile: any of the following
- Valid job contact
- Continuous discharge certificate (CDC)
- Last payslips substantiating employment with a shipping company (not more than 6 months old)
PIO/ OCI status proof: Any of the following
- Valid PIO/ OCI card
- Parents’/ grandparents’/ spouse’s passport pages that prove their Indian origin
- Marriage certificate showing Indian origin
Identity proof of NRIs/ PIOs/ OCIs
- Passport pages including Name, date of birth, address of the applicant, and issue and expiry date of the passport
Current address proof of the applicant (NRIs/ PIOs/ OCIs): Any of the following
- Pages of passbook including overseas address as applicable
- National identity card issued by the government of your country of residence
- Driving license issued abroad
- Utility bill (electricity/ water/ gas/ telephone)
- Original overseas bank account proof
- Address proof of any of the blood relatives (parents, spouse, siblings, children)
- NRIs with seafarer work profile can give either his/ her employer’s overseas address proof or Indian address proof
Permanent address proof for NRIs: Any of the following
- Driving license
- Passport
- Voter’s ID card
- Aadhaar card
- NREGA job card
Permanent address proof for PIOs/ OCIs
- Relevant pages of passport
Individuals who are not visiting the SBI branch to open an NRI account need to provide any of the following documents:
- Cancelled/ paid cheque of the overseas bank account
- Cheque drawn on the overseas bank account
- Income proof/ salary slips/ income tax return
Additional proof
- Passport size photographs – 2
Top Indian Bank for NRI Account Opening in Kuwait 2024
Here are some of the best NRI accounts for NRIs living in the UAE:
| Bank | INTEREST RATE (%) P.A. | Minimum Monthly Balance required |
| HSBC Bank | 2% to 2.5% per annum | Average Quarterly Balance (AQB) of Rs 150,000 or more in a combination of savings account, current account and fixed deposit balances |
| SBI | – Balance < Rs. 10 cr: 2.70%– Balance Rs. 10 cr & above: 3.00% | – Rs. 1 lakh for Metro & Urban areas and– Rs. 50,000 for Semi-Urban and rural areas |
| HDFC Bank | – 3.50% (Rs. 50 Lakhs and above)– 3% (below 50 Lakhs) | Metro / Urban branches: AMB Rs.10,000Semi-Urban Branches: AMB Rs.5,000Rural Branches: AQB Rs.2,500 |
| ICICI Bank | – For balance Rs. 50 lakh or above: 3.50%– For balance below Rs. 50 lakh: 3% | Rs. 10,000 |
| Federal Bank | – Up to Rs. 1 lakh: 4.25%– Rs. 1 lakh to Rs. 10 lakh: 5.50%– Rs. 10 lakh to Rs. 25 lakh: 6.00%– Rs. 25 lakh and to Rs. 7.5 Crore: 7.00%– Rs. 7.5 Crore to Rs. 25 Crore: 6.25%– Rs. 25 Cr to Rs. 50 Cr: 6.25%– Rs. 50 cr upto Rs. 100 cr: 5.25%– Rs. 100 cr to Rs. 200 cr: 6.00%– Rs. 200 cr to Rs. 400 cr: 4.00%– Rs. 400 cr: 5.25% | The average monthly balance required for FED NRI Power is Rs. 5,000. |
| Yes Bank | – 4% (up to 1 lakh)4.25% (Rs. 1 lakh to 5 lakh)– 5% (Rs. 5 lakh to 10 lakh)– 6% (Rs. 10 lakh to Rs. 1Cr)6.25% (Rs. 1 cr to 10 cr)– 6.00% (Rs. 10cr to Rs. 25 Cr) | Rs. 10,000 |
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
How can I open Indian bank account in Kuwait?
- You can easily open Indian banks account in Kuwait by visiting the bank’s website or by downloading SBNRI app and applying for NRI Bank account in India from the comforts of your home.
How to open NRE account in SBI from Kuwait
- You can open an NRE account in SBI from Kuwait online as well as offline. To apply for an NRI account opening in SBI online, you can visit the official website of the bank and fill the SBI NRE account opening form and submit it at a branch in India by courier. If you are in India, you can visit a branch of the bank to open an SBI NRE account.
Which Indian bank is best for NRI?
- Many banks offer NRI Banking services to NRIs/OCIs worldwide. You can find the list of best NRI Bank accounts and Banks for NRIs/OCIs in this blog.
