Indians in UAE (the United Arab Emirates) constitute approximately 38% of the country’s population. Over 3.9 million Indian expatriates are estimated to be living in the UAE, which is the largest population of the country. As per the RBI guidelines, when anyone gets NRI status, he/she can’t operate a regular resident savings account. Non-Resident Indians (NRIs) and Overseas Citizens of India (OCIs) need to open an NRI bank account to do any banking transactions in India. NRIs can open an NRI account online or visit the bank branch. Here we will discuss the procedure for NRI account opening in the UAE.
SBNRI is a business partner of leading Indian banks. NRIs can apply for an NRE/ NRO account with top banks by clicking the below button.
Also Read: NRI Joint Account: NRIs can open joint account with residents
How to Open NRI Account in UAE
Dubai-based NRIs can either open an NRI account online by clicking the ‘Open NRI Account’ button on this page or through the respective bank’s website by following the process given below.
Several Indian banks operate in the UAE to offer various banking and financial services for Indians in the UAE. Based on the transactional requirements of the NRIs/PIOs, they can decide to open either an NRE or NRO account or even both. These banks assist Indians in the UAE with NRI account opening online as well as offline. Here are the top banks that offer NRI account opening facilities to Indians in the UAE.
Top Indian Bank for NRI Account Opening in UAE
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 |
| DBS Bank | 3% to 3.5% per annum | An initial deposit of INR 5 lakhs is required. Subsequently, the Total Relationship Value (TRV) needs to reach a minimum of INR 30 lakhs within a span of 6 months |
| 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.10,000 Semi-Urban Branches: AMB Rs.5,000 Rural 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 |
HSBC Bank NRE Account
HSBC Bank NRE account is one of the best NRE bank accounts for NRIs. Here are the key features and benefits of HSBC Bank NRE account:
- HSBC NRE account interest rate is one of the highest in the market.
- There is no tax on the interest earned on an NRE account in India.
- NRIs can remit funds into the NRE savings account from any overseas bank.
- HSBC NRE Account holders need to have Rs.1,50,000 Average Quarterly Balance(AQB) in a combination of Savings Account/Current Account or Fixed Deposit Balance
Also read: HSBC India NRI Account: Open NRI Account Online
Features & benefits of DBS Bank NRE savings account
- DBS Bank NRE Savings account holders can earn interest up to 3.55 per annum on the funds parked in the account.
- Both the principal and interest are tax-free and fully repatriable.
- DBS NRE Savings account holders can use internet banking and mobile banking to transfer money anywhere in the world.
- NRIs can open a joint DBS NRE Savings account with another Non-resident Indians or Person of Indian Origin (PIO) on either or survivor basis.
- NRIs can use the DBS NRE Savings account to make investments in NRI mutual funds in India.
SBI NRI Account Opening in UAE
Here are the ways for SBI NRI account opening in UAE:
Online: Indians living in the UAE can fill the SBI NRI account opening online application and send it to Global NRI Centre in India. Steps to open an NRO or NRE account online with SBI are as under:
Step 1: Fill online application
- Fill in your personal details on the first page and save the form, an NRI Customer Reference Number (NCRN) will be generated. You will need it later to edit the loan application and to link customer details in the account information section.
- After completing the personal details page, fill in the Additional Details page.
- You will receive an email with the NCRN and further process via the email address provided by you.
Step 2: Complete the Account Information section
- Complete the Type of Account page first and key in your NCRN(s) to link your Customer Information Section.
- Once you complete this page and save the form, an NARN (NRI Account Reference Number) will be generated, which you need to note down.
- Now fill the Verification page.
- You will receive an email with the NARN and further process via the email address provided by you.
Time needed: 15 minutes.
Steps after Filling Online Application
- Download your Online Submitted NRI Account Opening Application
To download your online submitted NRI account opening application, click on “Download Completed Application” on the home page and enter your NARN number and your date of Birth.
- Attach Passport Size Photographs
Attach passport size photographs of sole/first applicant and second applicant (if applicable) in the ‘Specimen Signature, Photograph & Third Party Attestation’ section on page 3 and 5 respectively. Enclose one additional photograph of each applicant in the envelope.
- Affix Your Signature
Write place and date and affix your signature at A1, A2, A3 & A4 for the first applicant and B1, B2, B3 & B4 for the second applicant.
- Document Attestation if you can visit SBI Branch
If someone who wants to open an NRO or NRE account can’t visit the SBI branch, then the documents have to be attested by any of the following individuals.
- Document Attestation if you can’t visit SBI Branch
In case you are not visiting our Branch, then all applicants’ signatures in the application and all Identification Documents have to be attested by any one of the following. Details of third party attester should also be mentioned in ‘Specimen Signature, Photograph & Third Party Attestation’ section on page 3 for a single applicant application and on page 5 for a joint applicant application:
SBI foreign office
Notary public
Indian Embassy / high commission - Draw the Remittance
Draw the initial remittance (cheque/ demand draft) in favor of “State Bank of India A/c [Applicant’s Name]”.
- Send Application by Post or Couries
Write “ONLINE NRI ACCOUNT OPENING APPLICATION [NARN No issue to you]” on the cover of the envelope and post/ courier.
Documents required for NRI account opening online with State Bank of India
Proof of status: Any of the following for NRIs
- Valid visa/ work permit
- Any for the following for NRI with seafarer work profile
Valid job contact- Continuous discharge certificate (CDC)
- Expired contact letter (if the disembarkation stamp on CDC is not more than 6 months old)
- Last payslip evidencing employment with a shipping company (not more than 6 months old)
Proof of status: Any of the following for PIO/ OCIs
- Valid PIO/ OCI card
- Relevant pages of the passport of parents or grandparents that established their Indian origin
- Marriage certificate establishing Indian origin
Identity proof for NRIs/ PIOs/ OCIs
- Relevant pages of passport
Current address proof for NRIs/ PIOs/ OCIs: Any of the following
- Pages of passbook mentioning the overseas address
- Government issued national identity card of the country of residence
- Driving license issued abroad
- Utility bill (telephone/ electricity/ gas)
- Original copy of overseas bank account
- Address proof of any of the blood relatives (spouse, father, mother, brother, sister and child)
- NRIs with seafarer work profile and on the ship can give either employer’s overseas address proof or Indian address proof
Permanent address proof for NRIs: Any of the following
- Driving license
- Relevant pages of passport
- Voter’s ID
- Aadhaar card
- NREGA job card
Permanent address proof for PIOs/ OCIs
- Relevant pages of passport
Additional proof for applicants who are not visiting SBI branch to open a bank account (any of the following)
- Canceled/ paid cheque of the overseas bank account
- Cheque drawn on the overseas bank account
- Proof of income/ pay slip/ tax return
Additional proof
- 2 passport size photos
Offline mode: You can visit the nearest SBI branch if you are in India. If you are in the UAE, then you can visit SBI’s Representative Offices in the UAE (Dubai, Abu Dhabi) and Global Money Exchange in Oman for instant NRI account opening. Indians in UAE can also visit the SBI Foreign Office or associated Exchange House to submit the NRI account opening application.
Also Read: SBI NRI FD Rates: SBI NRE FD Interest Rates 2023
HDFC NRI Account Opening in UAE
HDFC Bank is one of the leading private sector Indian Banks. The bank has representative offices in UAE. HDFC bank offers NRI banking services including NRI account opening and fixed deposits. Depending on your financial requirements, you can open either an NRE or NRO account. Steps to open an NRI account in HDFC are as under:
- If you are in India you can visit your nearest branch to open an NRI account. If you are in the UAE, provide your contact details to the bank online.
Documents required to open an NRE account online/ offline
- Copy of valid passport that includes important details including your name, address, date of birth, date of issue, expiry date, photograph, address, signature and observation page
- One document that has either an overseas or Indian address. Address on the document must match that in the account opening form
- NRI status proof through a valid residence/ employment visa copy or work permit
- Address proof of overseas and India
- Copy of Indian PAN card or Form 60
- Recent passport size colored photograph
- An initial payment cheque/ demand draft from your own account. In case of demand draft, DD slip is mandatory
If you are not able to visit the bank for account opening, your documents and photocopies can be attested by the Indian Embassy in UAE or Notary or a banker overseas. Then forward these documents to HDFC Bank for the account opening.
Also Read: HDFC Bank NRE FD Rates: Latest NRI FD Rates 2023
Bank of Baroda NRI Account Opening in UAE
NRIs/ PIOs can open an NRI account in Bank of Baroda by taking the following steps:
- Fill the account opening form available on the bank’s website or you can contact the overseas/ domestic branch of BOB
- Submit the duly completed account opening form along with relevant documents to the branch with which you want to open an account or any overseas branch/ office in the UAE
- Signature of the applicant(s) on the application and documents to be verified by BOB UAE branch or Indian High Commission/ Consulate/ Embassy or Notary Public
Checklist of documents for BOB NRE/ NRO account opening
All documents should be self-attested:
- 2 photographs signed by applicant(s)
- Copy of passport with valid visa pages and relevant address pages
- One address proof of UAE such as DEWA Bill, Telephone Bill, E-Vision Bill, and Tenancy Contract
- Letter from the employer on the company’s letterhead
- Labour card copy
- PAN card (in case of NRO account)
Also Read: Bank of Baroda NRI FD Rates 2023: Unlock Tax-saving Benefits
ICICI NRI Account Opening in UAE
ICICI Bank is one of the 4 largest banks in India. The bank has representative offices in the United Arab Emirates (UAE) to serve Indians in UAE. You can open an NRI account online or by visiting any of the bank branches. Here the steps you need to follow for ICICI NRI account opening in UAE:
ICICI Bank NRI account opening online:
- Fill in basic details on the bank official website to request for a free call from ICICI Bank.
- Fill the online NRI application form.
Documents required for ICICI NRI account opening
- First and last four pages of the passport that includes address proof applicant(s), date of birth, place and date of issue, expiry date, photograph and specimen signature
- Copy of valid work permit, employment visa, or residence visa or residence permit
- PAN card or Form 60
- FATCA/ CRS declaration form
- CKYC annexure form
All documents should be attested by the applicant(s).
Also Read: ICICI Bank NRI FD Rates: ICICI Bank NRE FD Rates 2023
Federal Bank NRI Account Opening in UAE
Steps for Federal Bank NRI account opening online are as under:
- Visit the official website of Federal Bank and click on the Apply Online link.
- Click on the ‘OPEN AN ACCOUNT’ button and click AGREE to accept terms and conditions.
- Complete the OTP verification in the next stage.
- Key in applicant and nominee details in the account opening form.
- Upload the required documents in the jpeg(980 x 735 px) or PDF format.
- Upload a jpg/jpeg file of your signature(s) with the specified pixels and size.
- Capture your photo through the webcam.
- Your application will be submitted successfully.
- Take the print of NRI account opening form sent by the Bank to your email address.
- Sign it and send it to the mentioned email.
Please note: You must also send your signed Account Opening Form (hard copy) to open your NRI account.
Yes Bank NRI Account Opening in UAE
NRIs can apply for Yes Bank NRI account opening online in two ways:
- On bank’s website
- Through SBNRI.com
On Yes Bank’s Website
- Visit Yes Bank’s official website.
- Select the ‘NRI’ category button, then choose ‘Accounts’ from the drop-down menu.
- Click on ‘Open your NRI account now,’ followed by ‘Open a new account.’
- Choose either ‘Single’ or ‘Joint’ for the account type.
- Provide basic identification information, such as name, date of birth, and email address, then continue.
- In the Yes Bank NRI account opening form, select the account type (NRE/NRO).
- Enter your details, upload the necessary self-attested documents, and complete the form.
- After submitting the form, a Yes Bank representative will contact you.
Open NRI Account Online through SBNRI
You can apply for an NRI account online by clicking the ‘Apply for NRI Account’ button in this blog or:
- Simply 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.
Best NRI Account in UAE
If you are searching for the best bank account in UAE, then you are at the right place. See, there is always a bank providing the best account opening in UAE as per your specific requirements. For opening an Indian Bank NRI Account in UAE, you can simply download SBNRI App. Many NRIs have been specifically looking for SBI NRI Account opening in Dubai, therefore, we have added State Bank of India (SBI) in the app as well for easy account opening.
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 an NRI account with minimal documentation in just 10 minutes.
SBNRI is a one-stop destination for NRI Bank Account Opening. You can also click on the button below to apply for NRI account opening and more information.
FAQs
You can pick any of the above mentioned banks to open an NRI account. However, you can open an NRI account in a bank whose physical branch is most accessible to you.
All NRIs (Non-Resident Indians), PIOs (Persons of Indian Origin) and OCIs (Overseas Citizens of India) who have all required documents can open an NRI account.
To open an NRI account, you will have to maintain the minimum balance in Indian banks. Local banks in UAE like ADIB, CBD, ADCB, etc. provide zero balance accounts. However, you must confirm whether you are eligible for this service or not.
You can open an NRI account in UAE both online and offline. You can apply for an NRI account in UAE either through your desired banks’ official website or through SBNRI.
Benefits of opening an NRI account include:
– You can deposit your income earned outside India.
– Free funds transfer at competitive exchange rate (in case of NRE account)
– Interest earned is not taxable in India.
– No need to maintain high balances in your NRE and NRO accounts.
For NRI account opening in Dubai, NRIs need to visit the official website of the bank they want to open an NRI account with. Locate the NRI account application form and fill the form with relevant details. Once this is done, the bank representative will call you to further assist with the account opening process.
While NRE and FCNR accounts are freely repatriable, allowing funds to be transferred back to the country of residence or any other country without restrictions, repatriation from NRO accounts is subject to specific guidelines set by the Reserve Bank of India (RBI).
Yes, NRIs living in the UAE can open Indian bank account provided they have necessary documents. They can apply for the NRI account opening in UAE in online as well as offline mode.
