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Open a Non-Resident account in India

HSBC India offers digital accounts to non-resident Indians. Let us help you open an account quickly and easily.

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

Types of non-resident Indian (NRI) accounts
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
Types of non-resident Indian (NRI) accounts
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.
  • Global Premier status for you and your family across HSBC markets[@premier-qualification]
  • Comprehensive suite of wealth solutions in India and access to key International Wealth Hubs
  • 24x7 Premier Global Concierge services
  • Complimentary consultation with Ernst & Young LLC[@ey-tax-consultation-service]
  • Preferential interest rates on home loans and term deposits
  • 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.
  • Global account opening
  • Linked view of all your global accounts
  • 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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Get access to offers available only to Premier customers.
Discover a wide range of services to meet your banking needs.
Our products and services suit customers moving overseas or already residing abroad.

Notes

    NRI deposits / accounts are governed by extant regulatory requirements prescribed by Reserve Bank of India, subject to the sovereign risk arising from and governed by the laws of, or any changes to the laws of India, and are not insured by any insurance company or corporation outside India.

    NR deposits with the Bank in India are not insured by Federal Deposit Insurance Corporation (FDIC) of the USA. Under current US tax laws, US citizens and residents are subject to tax on their worldwide income. You should consult your tax advisor for the US treatment of income from these deposits and any other US reporting requirements that may apply to your account.

    Deposits/accounts held with HSBC India are not protected deposit and are not protected by Deposit Protection Scheme in Hong Kong.

    Deposits/accounts held with HSBC India do not benefit from the protection of deposits as covered by the Regulation Protecting Deposits and Unrestricted Investment Accounts issued by the Central Bank of Bahrain.

    Deposits and accounts held with HSBC India are not protected by the Australian Financial Claims Scheme.

    Approved for issue in the UK by HSBC Bank plc. 8 Canada Square, London E14 5HQ. Deposits/ investments made with non-UK members of the group do not benefit from the protection provided under the UK Financial Services and Markets Act 2000, including the UK Financial Services Compensation Scheme.

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