Best NRI Accounts in India 2025

Are you on the hunt for the best NRI account in India? The world of banking and finance can be overwhelming, especially when managing your finances as a Non-Resident Indian. But fret not because we have you covered. In this blog, we'll unravel the mystery surrounding NRI accounts, provide insights into the top options available, and help you make a well-informed choice that aligns with your financial goals. Keep reading to unlock the key to financial peace of mind.

What is an NRI Account?

An NRI Account is a term used to describe accounts established by individuals who are Non-Resident Indians (NRIs) or People of Indian Origin (PIOs) with a bank or financial institution authorised by the Reserve Bank of India (RBI). These institutions offer various services to cater to the financial needs of NRIs and PIOs.

Here are the various types of NRI Accounts available to fulfil your financial requirements:

• Non-Resident External (NRE) Accounts
• Non-Resident Ordinary (NRO) Accounts
• Foreign Currency Non-Resident (FCNR) Accounts

These accounts serve as vital tools for NRIs and PIOs to manage their finances and investments while residing outside of India.

NRE Savings Account

The Non-Resident External (NRE) Account provides a seamless avenue for transferring your overseas earnings to India. This versatile account is denominated in rupees and offers various options such as Current, Savings, Fixed, or Recurring Deposits.

Crucially, it's important to note that the interest earned from these accounts is entirely tax-free, meaning they are exempt from taxation. Additionally, funds in NRE accounts are readily repatriable, allowing easy transfers. These accounts can also be jointly opened with a close relative who is a Resident Indian, following a "Former or Survivor" arrangement.

List of Best NRI Accounts in India for NRE

For NRIs, choosing the right NRE (Non-Resident External) account is crucial to efficiently managing income earned outside India. The Best NRI Accounts in India for NRE offer tax-free interest on savings, flexible repatriation options, and easy access to funds. These accounts also support easy money transfers, secure online banking, and competitive interest rates, making them ideal for managing international finances. 

1. HSBC Bank
2. DBS Bank
3. Axis Bank
4. HDFC Bank
5. Yes Bank
6. IDFC First Bank
7. ICICI Bank
8. SBI Bank
9. Bank of Baroda (BOB)
10. RBL Bank

Top 10 NRI Banks in India for NRE in 2025

Managing finances as a Non-Resident Indian (NRI) requires a trusted banking partner. Here’s a quick guide to the top 10 NRI banks in India for NRE accounts in 2024, highlighting their key features and offerings.

1. HSBC Bank

HSBC provides a comprehensive suite of NRE banking services, including savings, remittance, and investment solutions. Its global presence ensures ease of access for NRIs worldwide.

Details of HSBC Bank

Feature	Details
Account Types	HSBC NRE Bank Account
Minimum Balance	Average Quarterly Balance (AQB) of Rs. 150,000 or more
Interest Rate (NRE/FCNR)	2% to 2.5% per annum
Global Branches	64+ countries
Online Banking	Advanced digital platform with global account management
Remittance Services	Fee-free remittance options with competitive forex rates
Forex Benefits	Preferential exchange rates for NRIs
Loan Facilities	Home and personal loans against NRE deposits
Tax Advisory	Expert guidance on tax obligations for NRIs
Customer Support	24/7 multilingual customer service

2. DBS Bank

DBS Bank, headquartered in Singapore, offers premium services to NRIs, focusing on high-value transactions and relationship-based banking. It provides advanced digital platforms and attractive interest rates for its NRE customers.

Details of DBS Bank

Feature	Details
Account Types	DBS Bank NRE Account
Minimum Balance	Initial deposit INR 5 lakhs; TRV of INR 30 lakhs within 6 months
Interest Rate (NRE/FCNR)	3% to 3.5% per annum
Global Branches	Strong presence across Asia-Pacific
Online Banking	Digibank app with integrated features
Remittance Services	Fast remittance with real-time tracking
Forex Benefits	Attractive forex deals for transactions
Loan Facilities	Loans against fixed deposits are available
Tax Advisory	Support for double taxation avoidance treaties
Customer Support	Dedicated helpline for NRIs

3. Axis Bank

Axis Bank is well known among the NRI community due to its NRE banking services, such as the more flexible account opening scheme, good offers on remittances, and Loans primarily tailored towards the NRI community and those who stay abroad. The bank has a vast number of branches in India and aims to expand across the globe.

Details of AXIS Bank

Feature	Details
Account Types	Axis NRE Bank Account
Minimum Balance	Rs. 10,000 to Rs. 25,000 based on account type
Interest Rate (NRE/FCNR)	3% to 3.5% for balances under Rs. 800 cr
Global Branches	Representation across major global financial hubs
Online Banking	Robust digital services
Remittance Services	Express remittance services
Forex Benefits	Fixed deposit options in foreign currencies
Loan Facilities	Property and personal loans against NRE balances
Tax Advisory	Specialised services for tax-saving investments
Customer Support	Multi-channel NRI support

4. HDFC Bank

For people residing in India, HDFC Bank is considered a great option because of its vast options, robust digital banking, and good interest rates. It boasts an enormous number of branches across the nation, making it appropriate for long-term strategies.

Details of HDFC Bank

Feature	Details
Account Types	HDFC NRE Bank Account
Minimum Balance	Rs. 5,000 (rural) to Rs. 10,000 (urban)
Interest Rate (NRE/FCNR)	3% to 3.5% depending on balance
Global Branches	Offices in the USA, UK, and UAE
Online Banking	Highly secure and user-friendly
Remittance Services	Quick and cost-effective remittance options
Forex Benefits	Dual currency credit cards
Loan Facilities	Home and auto loans for NRI customers
Tax Advisory	Wealth management advisory services
Customer Support	Dedicated NRI customer desk

5. Yes Bank

Yes Bank is known for its tiered interest rates, making it a lucrative option for NRIs with varied deposit sizes. The bank also emphasises fast remittance services and personalised relationship management.

Details of Yes Bank

Feature	Details
Account Types	Yes Bank NRE Account
Minimum Balance	Rs. 10,000
Interest Rate (NRE/FCNR)	Up to 6.25% based on balance tiers
Global Branches	Strategic partnerships in major NRI markets
Online Banking	Seamless access with enhanced security
Remittance Services	Fee-free inward remittance
Forex Benefits	High forex limits for outward transactions
Loan Facilities	Loans against NRE deposits
Tax Advisory	Assistance with compliance and tax benefits
Customer Support	Dedicated helpline with multilingual support

6. IDFC First Bank

IDFC First Bank is an emerging player in NRI banking. It offers high interest rates for larger deposits, intuitive online banking, and comprehensive remittance services, all tailored for global NRIs.

Details of IDFC First Bank

Feature	Details
Account Types	IDFC First NRE Bank Account
Minimum Balance	Rs. 10,000
Interest Rate (NRE/FCNR)	4% to 7% depending on balance tiers
Global Branches	Limited international presence but strong tie-ups
Online Banking	Intuitive digital platform
Remittance Services	Competitive rates with fast remittance
Forex Benefits	Customised forex deals for NRIs
Loan Facilities	Loans against deposits available
Tax Advisory	Expert assistance for financial planning
Customer Support	24/7 NRI support desk

7. ICICI Bank

ICICI Bank has the power to bridge itself with numerous domestic and international clients, and therefore, it provides NRE banking solutions in the finest way. This bank's remittance services are uncomparably good, and it also has attractive loan services and quite effective internet banking.

Details of ICICI Bank

Feature	Details
Account Types	ICICI NRE Bank Account
Minimum Balance	Rs. 10,000
Interest Rate (NRE/FCNR)	3% to 3.5% depending on balance tiers
Global Branches	Extensive presence in the USA, UK, Canada, and the Middle East
Online Banking	Advanced online and mobile banking solutions
Remittance Services	Cost-effective remittance services
Forex Benefits	Dual currency deposits and forex cards
Loan Facilities	Easy loans for home purchase or education
Tax Advisory	Comprehensive wealth and tax planning
Customer Support	Dedicated NRI desk

8. SBI Bank

State Bank of India (SBI) offers affordable and reliable NRE banking services. With a strong international presence and competitive remittance rates, it’s a preferred choice for NRIs looking for stability and reach.

Details of SBI Bank

Feature	Details
Account Types	SBI NRE Bank Account
Minimum Balance	Rs. 50,000 (semi-urban/rural) to Rs. 1 lakh (urban)
Interest Rate (NRE/FCNR)	2.7% to 3% depending on balance
Global Branches	Presence in over 36 countries
Online Banking	Secure and user-friendly digital platform
Remittance Services	No fee inward remittance options
Forex Benefits	Attractive exchange rates
Loan Facilities	Home and personal loans with favorable terms
Tax Advisory	Advisory services for tax filing and investment
Customer Support	Multilingual 24/7 helpline

9. Bank of Baroda

Bank of Baroda combines affordability and global connectivity, offering flexible account options, attractive remittance services, and a robust online banking experience for NRIs.

Details of Bank of Baroda

Feature	Details
Account Types	Bank of Baroda NRE Account
Minimum Balance	The quarterly average balance of Rs. 50,000
Interest Rate (NRE/FCNR)	2.75%
Global Branches	Operations in 100+ overseas locations
Online Banking	Easy-to-use online platform
Remittance Services	Rapid money transfer options
Forex Benefits	Preferential forex rates for high-value transactions
Loan Facilities	Loans against fixed deposits
Tax Advisory	Expert advice for income and investment tax
Customer Support	24/7 customer service

10. RBL Bank

RBL Bank is a high-performing private bank offering competitive interest rates for NRE accounts and personalised services. It is best suited for NRIs looking for tailored solutions and high deposit returns.

Details of RBL Bank

Feature	Details
Account Types	RBL Bank NRE Account
Minimum Balance	Rs. 50,000
Interest Rate (NRE/FCNR)	4.25% to 7% depending on balance tiers
Global Branches	Limited global reach with strategic partnerships
Online Banking	Advanced app and web banking
Remittance Services	Quick international remittance with low charges
Forex Benefits	Attractive forex deals for NRE customers
Loan Facilities	Home and personal loans with competitive interest
Tax Advisory	Tax saving investment options
Customer Support	Prompt NRI assistance services

Benefits of NRE Account Saving Banks

An NRE Savings account offers several key advantages, including:

• Transferring funds into an NRE account is cost-effective.
• India does not tax the interest earned on NRE accounts.
• NRIs benefit from the convenience of mobile and internet banking provided by most banks.
• Joint holder options are commonly available for NRE accounts.
• Currency exchange risk is a consideration for NRE account holders.
• Indian banks generally provide NRE account services.

Remember that interest rates, minimum balance requirements, and other essential features can differ between banks.

If you're an NRI planning to sell property in India, it's essential to understand the TDS implications. Read our TDS on Sale of Property by NRI blog.

NRO Savings Account

The Non-Resident Ordinary (NRO) Account is a primary choice for depositing Indian rupees earned within the country. It also accommodates deposits of foreign earnings. When an Indian citizen relocates abroad for employment to reside there, their existing resident accounts must be transformed into NRO Accounts as mandated by the bank. It is, therefore, crucial to inform the bank of the individual's departure overseas.

Notably, NRO Accounts are denominated in rupees and come in various forms, including Savings, Current, Recurring Deposits, and Fixed Deposits. These accounts offer the flexibility to be jointly opened with any Resident Indian on a "Former or Survivor" basis.

List of Best NRI Account in India for NRO in 2025

For NRIs looking to manage their income and savings in India, NRO accounts offer a practical solution. These accounts allow you to deposit income earned in India, including rent, pension, or investment returns, while providing easy repatriation options and competitive interest rates. The Best NRI Accounts in India for NROs also offer hassle-free online banking services, making fund management convenient from anywhere in the world. 

1. DBS Bank
2. Axis Bank
3. Bank of Baroda (BOB)
4. Citi Bank
5. HDFC Bank
6. ICICI Bank
7. Kotak Mahindra Bank
8. RBL Bank
9. State Bank of India (SBI)
10. Yes Bank

Top 10 NRI Banks in India for NRO in 2025

Non-Resident Ordinary (NRO) accounts are essential for Non-Resident Indians (NRIs) to manage their income earned in India. Here’s a detailed overview of India's top 10 NRI banks offering NRO services, along with their features.

1. DBS Bank

DBS Bank offers efficient and user-friendly NRO account services tailored for NRIs. The bank provides superior online banking, competitive interest rates, and robust remittance services.

Details of DBS Bank

Feature	Details
Account Types	Savings, Current
Minimum Balance	₹50,000
Interest Rate	3.00% - 5.00%
Global Branches	Extensive in Asia-Pacific
Online Banking	Comprehensive and user-friendly
Remittance Services	Instant and cost-effective
Forex Benefits	Competitive forex rates
Loan Facilities	Home loans, personal loans
Tax Advisory	Available for NRIs
Customer Support	24/7 support via chat and helpline

2. Axis Bank

Axis Bank offers flexible and convenient NRO account services for NRIs. Its wide branch network, attractive interest rates, and comprehensive online banking tools ensure hassle-free financial management. 

Details of Axis Bank

Feature	Details
Account Types	Savings, Current
Minimum Balance	₹10,000 - ₹10 Lakhs
Interest Rate	2.70% - 5.50%
Global Branches	Over 500
Online Banking	Advanced mobile and internet banking
Remittance Services	Quick and secure
Forex Benefits	Forex cards, competitive rates
Loan Facilities	Home loans, vehicle loans
Tax Advisory	Limited support
Customer Support	24/7 helpline and chat

3. Bank of Baroda

Bank of Baroda provides affordable and efficient NRO banking solutions. With a low minimum balance requirement and secure remittance services, BOB is ideal for NRIs. Its user-friendly online banking, extensive branch network, and competitive forex rates enhance the overall experience, making financial management in India stress-free.

Details of Bank of Baroda

Feature	Details
Account Types	Savings, Current
Minimum Balance	₹1,000
Interest Rate	2.90% - 5.30%
Global Branches	Over 100
Online Banking	Secure and user-friendly
Remittance Services	Affordable and fast
Forex Benefits	Competitive exchange rates
Loan Facilities	Housing and education loans
Tax Advisory	Basic support available
Customer Support	Multilingual 24/7 helpline

4. Citi Bank

Citi Bank offers premium NRO banking services tailored for high-net-worth NRIs. With an extensive global presence, advanced online banking, and efficient remittance services, it ensures seamless fund management. 

Details of Citi Bank

Feature	Details
Account Types	Savings, Current
Minimum Balance	₹2 Lakhs
Interest Rate	2.75% - 3.90%
Global Branches	Over 2000
Online Banking	Highly secure and intuitive
Remittance Services	Fast global transfers
Forex Benefits	Comprehensive forex services
Loan Facilities	Premium loan offerings
Tax Advisory	Dedicated services for NRIs
Customer Support	24/7 global assistance

5. HDFC Bank

HDFC Bank is a leading provider of NRO banking services for NRIs, offering a blend of convenience and reliability. With competitive interest rates, robust online banking, and fast remittance solutions, it caters to diverse needs. 

Details of HDFC Bank

Feature	Details
Account Types	Savings, Current
Minimum Balance	₹5,000 - ₹10,000
Interest Rate	2.75% - 5.50%
Global Branches	Wide presence
Online Banking	Advanced mobile and net banking
Remittance Services	Fast and reliable
Forex Benefits	Competitive rates and cards
Loan Facilities	Home loans, auto loans
Tax Advisory	Available
Customer Support	24/7 helpline

6. ICICI Bank

ICICI Bank is a trusted name for NRO accounts, offering seamless fund management and robust remittance services. With a user-friendly digital platform, competitive interest rates, and personalised tax advisory, ICICI ensures comprehensive financial solutions for NRIs. 

Details of ICICI Bank

Feature	Details
Account Types	Savings, Current
Minimum Balance	₹10,000
Interest Rate	2.50% - 5.45%
Global Branches	Over 100
Online Banking	Intuitive and secure
Remittance Services	Instant transfers
Forex Benefits	Comprehensive solutions
Loan Facilities	Home, education, personal loans
Tax Advisory	Personalised support
Customer Support	24/7 support via multiple channels

7. Kotak Mahindra Bank

Kotak Mahindra Bank delivers efficient NRO banking solutions with competitive interest rates and advanced online tools. Its secure remittance services, forex benefits, and comprehensive loan options make it a reliable choice for NRIs.

Details of Kotak Mahindra Bank

Feature	Details
Account Types	Savings, Current
Minimum Balance	₹10,000
Interest Rate	2.75% - 4.50%
Global Branches	Moderate presence
Online Banking	Comprehensive mobile app
Remittance Services	Secure and quick
Forex Benefits	Attractive forex rates
Loan Facilities	Home loans, car loans
Tax Advisory	Basic support
Customer Support	24/7 assistance

8. RBL Bank

RBL Bank offers attractive NRO account features with competitive interest rates and secure remittance services. It provides a user-friendly online banking platform, forex benefits, and flexible loan options.

Details of RBL Bank

Feature	Details
Account Types	Savings, Current
Minimum Balance	₹50,000
Interest Rate	3.25% - 6.25%
Global Branches	Limited presence
Online Banking	Secure and user-friendly
Remittance Services	Fast and affordable
Forex Benefits	Competitive rates
Loan Facilities	Various loan offerings
Tax Advisory	Limited support
Customer Support	24/7 helpline

9. State Bank of India (SBI)

Because of its branch network and the number of NRO accounts, it is no surprise that SBI is the favourite bank for NRIs. Enabling customers to have quick remittance services, decent contact rates and good internet for strong banking.

Details of SBI Bank

Feature	Details
Account Types	Savings, Current
Minimum Balance	₹1 Lakh
Interest Rate	2.90% - 5.40%
Global Branches	Over 200
Online Banking	Secure and efficient
Remittance Services	Reliable and cost-effective
Forex Benefits	Attractive exchange rates
Loan Facilities	Home loans, education loans
Tax Advisory	Available
Customer Support	24/7 multilingual helpline

10. Yes Bank

Yes Bank is known for its high-interest NRO accounts and exceptional remittance services. Its advanced digital banking tools, competitive forex rates, and personalised loan offerings cater to diverse NRI needs. 

Details of Yes Bank

Feature	Details
Account Types	Savings, Current
Minimum Balance	₹10,000
Interest Rate	5.00% - 7.00%
Global Branches	Limited
Online Banking	Advanced tools
Remittance Services	Secure and efficient
Forex Benefits	Favorable rates
Loan Facilities	Personal and housing loans
Tax Advisory	Basic support
Customer Support	24/7 helpline

We recommend reading our detailed guide on NRO Account Taxation to delve deeper into the taxation aspect of NRO accounts.

Benefits of NRO Account Saving Banks

• You can place the income earned in India into this account.
• You can deposit funds from your NRE account and transfer funds directly from overseas into this account.
• You can save and invest your earnings from various Indian sources such as rent, pension, and interest.
• You can send back your Indian earnings, up to 1 million USD per financial year, to your home country.
• Grant authorization to a resident Indian family member for convenient access to funds by your family members in India.
• You can jointly open an NRO account with a resident Indian or another NRI.
• Facilitate the transfer of funds from your existing NRE account.
• Please be aware that the interest you earn in this account is subject to TDS (Tax Deducted at Source).

If you're considering investing in property in India, you might also want to explore NRI home loans. Check out our comprehensive guide on NRI Home Loans to learn more.

How Can NoBroker Help

Managing your finances as an NRI can be challenging. But it's important to remember that managing your NRI finances and navigating regulations can be daunting, even more so when you reside in a different corner of the world.

That's where NoBroker comes in. With our expertise and commitment to simplifying financial solutions for NRIs, we're your trusted partner on this journey. Don't hesitate to reach out to NoBroker’s NRI services, and we’ll take care of all your financial needs.

Frequently Asked Questions