Opening a bank account in India

Hi there I just went to the HDFC bank in Pali Hill and we took our drivers licenses, passports, and proof of address in India. It was relatively easy and within a week our cheque book and eftpos cards arrived...I don't see what all the hoo haa is about. It was easier than getting an account in France by the way.

Queenie

Thanks for your contribution Queenie!

Harmonie.

Its not difficult to open an account however the paperwork is tiring.
The best way to go about it would be to take advise through a Registered Chartered Account who will list out the documents needed and the procedure to be followed. You can do it yourself, however the patience required for this is more.

Cheers
Rakshit

Hello Rakshit!

Thank you for your help.

Harmonie.

Following are the documents required to open bank account:

• One who is willing to open an account should submit a properly filled application.

• The customer should submit his/her identity proofs.

• The customer should also submit the address proofs.

• The person who wants to open the account should carry along the original documents also with the photocopies if he/she is opening the account in person.

• If the customer wishes to open an account online the same documents are required. The customer should fill the required information, take a print out of the application form and mail it to the respective bank.

• Over writings should be carefully countersigned.

Hi BanksIndia!

Thanks for your help!

Armand

Just to add on. Opening an account is possible. But for an expat I think they have to provide concrete address proof for the same

Also Julien, Getting a loan is possible if hte expat has a guarantor. If one is looking for a loan then private banks are good because the process that they follow are relatively easier. hdf bank, icici, axis bank

Thanks for helping dilip pinto

Armand

This is depends on the kind of Visa is holding.

Not difficult at all for those hold a job visa, let me know if any assistance require

Thank you jaison0133! If you have more informations, do not hesitate to share them on the forum.

Aurélie

jurgengeorgian wrote:

(Moderated)

Just Cant Stop

Dear All,
Season greetings
as per Reserve Bank of India norms, Foreign tourists during their short visit to India can open a Non-Resident (Ordinary) Rupee (NRO) account (Current / Savings) with any Authorised Dealer bank dealing in foreign exchange. Such account can be opened up to a maximum period of 6 months.

Passports and other valid identification proofs are required for opening the accounts. Authorised Dealer banks are also required to follow the Know Your Customer norms while opening of the accounts.

Funds remitted from outside India through banking channel or those obtained by sale of foreign exchange brought by the tourists to India can be credited to the NRO account.

Foreign nationals resident in India can open and maintain a resident Rupee account in India in terms of Notification No.5/2000-RB dated May 3, 2000 viz., Foreign Exchange Management (Deposit) Regulations, 2000, as amended from time to time.

I have recently moved to Chennai.

I was advised to open an account with the Axis bank.

Very straight forward, fast and efficient. they also provide a simple service for foreigh exchange outward remittances on a regular basis. You need specific paper work for this but once in place no problem.

thanks you!!!!!!!!!!