Hello buddy! I spent a good number of years living outside India. My manager told me that even if I hardly visit my account, I turn it into an NRI account. When I asked him about the Kotak NRI account minimum balance, he said that it is usually Rs 10,000.
What is Kotak Mahindra Bank NRI Account Minimum Balance?
According to my manager, Kotak Bank normally provides a range of NRI account options, including FCNR (Foreign Currency Non-Resident), NRO (Non-Residential Ordinary), and NRE (Non-Residential External) accounts. He said that depending on the type of NRI account you own, there may be different minimum balance requirements.
He said that you must keep an average quarterly balance of Rs. 10,000 in your NRE or NRO account. He also shared the below table with me:
| NRE / NRO Savings A/C | NRE Mariner Savings A/C | NRE / NRO Nova Savings A/C | NRE / NRO Current A/C | NRE / NRO Platina Savings A/C |
|---|---|---|---|---|
Rs 10,000/- |
Rs 10,000/- |
Rs 5,000/- |
Rs 25,000/- |
Rs 1,00,000/- |
Not needing to maintain a huge amount is one of the biggest advantages of a Kotak bank NRI account. I hope this information on the Kotak Mahindra NRI Account minimum balance helps you.
Open Your NRI Account and Get End to End Property Management Service via NoBroker. Read more -What are the Different Types of NRI Bank Accounts?
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Authors Of The Question
What is Kotak NRI Account Minimum Balance?
Hanushanth
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1 Answers
8 months
2024-05-14T11:59:46+00:00 2024-05-15T08:17:29+00:00Comment
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