Can NRI Invest in Mutual Fund From NRE Account?
SBNRI Team
answered on 07/09/2023
Yes, Non-Resident Indians (NRI) can invest in mutual funds from their NRE (Non-Resident External) bank account. NRE accounts are rupee-denominated, so NRIs can deposit and maintain his/her foreign earnings in India in rupees. NRIs can open an NRE account in the form of savings or a current bank account and invest in mutual funds via the same after their Mutual Fund KYC.
Mutual Fund KYC for NRIs can be done seamlessly on the SBNRI app.
Investing in Mutual Funds via SBNRI App
SBNRI allows KYC-compliant NRIs/OCIs to easily invest in mutual funds from their country of residence in India. You can download the SBNRI app and follow these procedures:
- To complete your KYC you will need the below-mentioned documents for validation.
- PAN Card
- Overseas Address Proof: Any water/electricity bill, internet/postpaid mobile bill, rent agreement, driver’s license, etc.
- Passport: Front and back
- Passport size photograph
- Signature
- Once your KYC is approved, you must link your NRO or NRE bank account to start investing in the mutual funds.
SBNRI is an authorised Mutual Fund Distributor platform & registered with the Association of Mutual Funds in India (AMFI). ARN No. 246671. NRIs willing to invest in mutual funds in India can download SBNRI App to choose from 2,000+ mutual fund schemes or connect with the SBNRI wealth team to understand Mutual Fund investments better.
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