Why open an account in India as a non-resident?
As a global bank with strong roots in India, we are uniquely placed to understand the needs of ‘internationalist’ Indians. We believe in offering solutions that make it easier for NRIs to bank with us in India.
- Access your account from anywhere in the world
- Fee free and real time global money transfers in 20+ currencies
- Bank securely anytime, anywhere, with the HSBC India app
- Issuance of Local & International Debit card
- Access to HSBC Group ATMs and ATMs and merchant outlets affiliated to the Visa network within India
Things you should know
| Features | NRE Account | NRO Account |
|---|---|---|
Choose this account if… |
You need an account for making INR payments/investments in India from your overseas earnings | You need an account for making INR payments/investments in India from your India earnings |
| Currency | Indian Rupees (INR) | Indian Rupees (INR) |
| Joint Account | Resident Indians as well as non-resident Indians | Resident Indians as well as non-resident Indians |
| Repatriation | Freely repatriable | Restricted repatriability (After deduction of applicable tax) |
| Tax | Tax free in India | Taxes applicable in India |
| Fixed Deposit | Non-resident Rupee (NRE) Fixed Deposits | Non-resident Ordinary (NRO) Fixed Deposits |
| Features |
Choose this account if… |
|---|---|
| NRE Account | You need an account for making INR payments/investments in India from your overseas earnings |
| NRO Account | You need an account for making INR payments/investments in India from your India earnings |
| Features | Currency |
| NRE Account | Indian Rupees (INR) |
| NRO Account | Indian Rupees (INR) |
| Features | Joint Account |
| NRE Account | Resident Indians as well as non-resident Indians |
| NRO Account | Resident Indians as well as non-resident Indians |
| Features | Repatriation |
| NRE Account | Freely repatriable |
| NRO Account |
Restricted repatriability (After deduction of applicable tax) |
| Features | Tax |
| NRE Account | Tax free in India |
| NRO Account | Taxes applicable in India |
| Features | Fixed Deposit |
| NRE Account | Non-resident Rupee (NRE) Fixed Deposits |
| NRO Account | Non-resident Ordinary (NRO) Fixed Deposits |
Compare all Non-resident Indian (NRI) accounts and services.
Ready to open an account?
HSBC Premier
Enjoy personalised banking with access to the widest global network and wealth management expertise.
Get exclusive Premier benefits and international privileges in India and around the world.
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Global Premier status for you and your family across HSBC markets[@premier-qualification]
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Comprehensive suite of wealth solutions in India and access to key International Wealth Hubs
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24x7 Premier Global Concierge services
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Complimentary consultation with Ernst & Young LLC[@ey-tax-consultation-service]
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Preferential interest rates on home loans and term deposits
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Manage your money around the world with fee-free transfers[@global-view-and-global-transfers-terms-and-conditions]
To apply for HSBC Premier, you must meet at least one of the following criteria:
- HSBC Premier Total Relationship Balance (TRB) criterion: Maintain a quarterly Total Relationship Balance (TRB) of INR4,000,000 (Rupees forty lakh only) OR
- HSBC Premier salary criterion: Maintain a salary account with a net monthly salary credit of INR300,000 (Rupees three lakh only) OR
- HSBC Premier mortgage criterion (effective 01 Oct 2024): Avail a mortgage relationship of INR11,500,000 (Rupees one crore fifteen lakh only) and meet the Total Relationship Balance (TRB) criterion of INR 4,000,000 (Rupees forty lakh only) within 12 months from the date of first disbursement of the mortgage loan
- have an Active Global Premier relationship within the HSBC group
HSBC Personal Banking
Discover a wide range of services to meet your banking needs.
Manage your day-to-day banking needs with services designed to make your life easier.
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Global account opening
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Linked view of all your global accounts
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Free real-time transfers between HSBC accounts worldwide
To apply for HSBC Personal Banking, you must meet at least one of the following criteria:
- maintain a quarterly Total Relationship Balance (TRB) of INR150,000 or more in a combination of savings account balances, fixed deposits holdings held with HSBC, investments and life insurance through HSBC India
- hold a Corporate Salary Account under the Corporate Employee Program (CEP) with monthly salary credits of INR50,000 or more into the account
- remit USD2,000 or more in a quarter under the Corporate Employee Program (CEP)
- have a mortgage relationship with HSBC, with equated monthly instalments (EMI) being debited from this account towards the mortgage loan repayment with HSBC
Frequently asked questions
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Our products and services suit customers moving overseas or already residing abroad.