NRI Banking

The Indian stock market offers many lucrative opportunities to investors. Many Non-Resident Indians are always looking to invest in their home country. Investing in the Indian market can help you make tremendous profits, however, the procedure to invest is different for NRIs. Unlike resident Indians, NRIs cannot use a regular Demat Account or a trading account to do so, but they can open an NRI Trading Account through the Portfolio Investment Scheme (PIS). NRI Trading Account As a Non-Resident Indian if you wish to invest in the Indian stock market, you need to open an NRI Trading Account. This allows to you invest in IPOs, Stock Derivatives, Mutual Funds, Equities, and Bonds listed on the Indian Stock Exchanges like the National Stock Exchange and the Bombay Stock Exchange. Types of NRI Accounts Non-Resident Indians managing their funds and investments in India can open the following accounts. NRE Savings Account There are many NRIs who send money back to India to their loved ones. Th...

Industrial development in India has been commendable in the last few years. New businesses are flourishing in India which has attracted many foreign direct investments. Non-Resident Indians are always looking for lucrative opportunities to grow their wealth and the Indian stock market offers many options to expand their portfolio. However, shares and securities are always subject to market risk. Fixed Deposits on the other hand are a more secure and laidback approach to saving money. The market conditions do not affect your investments, however, the rate of interest on Fixed Deposits is way lower than stocks. So, what should a Non-Resident Indian who’s looking to put some extra funds away invest in? Let’s dive deeper into what stocks and Fixed Deposits have to offer, and you can decide for yourself. Fixed Deposits One of the oldest and the most secure way of investing your money is putting them away safely in Fixed Deposits. One has to open a Fixed Deposit with a bank of their choice, ...

  Many Non-Resident Indians like to invest in the Indian market after moving abroad. The Indian stock market and other investment options allow NRIs to make an extra buck on their hard-earned money. However, one should know that this income is taxable in India. From FY2021, all income earned by dividends from shares of an Indian company is taxable in India. NRIs who receive dividends from their investments will be taxed 20%, surcharge plus 4% health and education cess. Here’s everything you need to know about the NRI incomes that are taxed in India and how you can make the most of exemptions on your income. Taxes on NRE Savings Accounts & NRO Savings Accounts Most Non-Resident Indians either have an NRE Savings Account (Non-Resident External) or an NRO Savings Account (Non-Resident Ordinary). Income from NRO Savings Accounts is taxable in India, however, if the NRI’s resident country has issued a tax residency certificate, they may have to pay a lower tax rate on the intere...

  Most Non-Resident Indians have families back in India, especially elder parents. Taking care of them from a different part of the world might seem challenging, but it’s a lot easier if you have a good health insurance plan in place. Non-Resident Indians can buy health insurance for their parents in India even when they live overseas and can even manage various payments in India no matter where they are in the world. It is always recommended to get health insurance for your parents, especially in sensitive times like these, it’s always good to be prepared with a solid insurance plan which offers state-of-the-art healthcare facilities so that you can rest assured. Good health insurance will also protect you and your parents from exorbitant charges in case of hospitalization. However, it is important to choose the right insurance plan for your parents. You can go for an individual plan or could also opt for a family health plan and add your parents as dependents. A senior citizen he...