Opening a Bank Account in India

Find out how to go about opening a bank account in India: the documents needed and the process to expect…

Non-resident foreigners and tourists can open bank accounts even if it is for only a short period of time. They are entitled to a non-resident ordinary rupee (NRO), current or savings account. The account must be opened with a bank that is authorised in dealing with foreign exchange.

For further information on NRO accounts: Click here or here

Before choosing a bank, it is advisable to shop around to check which services are offered, whether a minimum deposit is required and to ascertain an idea of fees. The opinions of colleagues and friends are worth seeking. Banks can be contacted by telephone, email or by walking into a branch. Many will send an employee to a new account holder’s home or office with an application form and to collect the required paperwork. The minimum deposit varies from bank to bank. It will take a day or two for the account to be active, after which an ATM card and PIN code will be provided.

Documents required

The documents required to open a bank account in India are:

  • Proof of identity (passport)
  • Proof of address (telephone or electricity bill)
  • Copy of visa and residential permit
  • PAN card (income tax card)
  • Photograph