NRI Accounts And Banking Services

Stay connected to your finances in India

If you’re a non-resident Indian or you’re going to be, you can manage your finances seamlessly in India and abroad with HSBC. Choose from our range of NRI accounts, home loans and more, and get dedicated support worldwide.

Get started with HSBC NRI services

NRE account features and benefits for NRIs

See how this type of bank account in India can help you manage your foreign currency earned overseas.

What is an NRO account? Meaning, features and tax rules

Manage your income earned in India and receive foreign currency funds, hassle free.

The benefits of an NRI deposit account

Do you prefer more certainty in terms of investment returns? NRI deposits might be what you're looking for.

How to open an NRI account online

Explore NRI account features and see how you can open your account online.

How we can help you

Open your NRI account in hours

Your account could be open in just 4 hours from the moment you submit your documents.
Move your money easily to and from India

Transfer your money quickly and simply, with competitive exchange rates and no fees[@gmt-free-fees] from HSBC.
Enjoy a host of Premier perks

Open your account as an HSBC Premier account and get preferential rates on home loans, help relocating overseas, plus a number of other privileges.

Bank securely any time, anywhere

Manage your money worldwide using the HSBC India Mobile Banking app and online banking.
Get help whenever you need it

In app, online, and in our branches worldwide – we’re here to support you, 24/7.
Choose the international experts

As a global bank with 160 years' experience, we’re well placed to support all your international banking needs.

NRO account

A savings/current account in rupees, designed for NRIs who have income in India.

NRE account

A savings/current account in rupees for income you’ve earned abroad, with tax-free interest in India and full repatriation freedom.

Mariner's account

Keep your finances in ship-shape with a rupee savings/current account exclusively for those working at sea.

NRI fixed deposits

Earn an attractive interest rate on your savings with our range of NRI fixed deposit accounts.

Home Loans for NRIs

Flexible financing options to help you own your own home in India.

Loan Against Property for NRIs

Raise funds as a Non-Resident Indian using your property as equity.

Investing in India

Make your money work harder for you with our wide range of wealth services and property investments.

Study abroad

Settle into your studies faster with support from HSBC International.

Talk to us

Want to open an NRI account or find out more about our NRI services? Leave your details and we'll call you back straight away.

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Our opening hours are 09:30 to 18:30 IST. If you request a callback outside of these times, we'll contact you the next working day.

Frequently asked questions

NRI stands for non-resident Indian. It refers to an Indian citizen or a person of Indian origin who lives outside India for employment, business, education or any other purpose that requires them to stay abroad for a substantial period of time.

You’ll be considered an NRI if you stay in India for less than 182 days in a financial year, or if you intend to stay abroad for an indefinite period of time. If you’re only outside of India for a short duration or a holiday, you won’t be considered an NRI.

As an NRI, you’re not allowed to hold or operate a standard Indian savings account. Instead, you’ll need to use a special account designed for NRIs, such as a non-resident external (NRE) account or a non-resident ordinary (NRO) account.

NRE accounts are primarily designed for keeping income you’ve earned outside of India. NRO accounts, on the other hand, are more suitable for any Indian income – such as from rental properties, dividends and so on.

An NRI is a non-resident Indian. In other words, they’re an Indian citizen or a person of Indian origin who lives outside India for a significant period of time – usually to study, work or do business. As a result, they don’t meet the criteria of being a resident in India under Indian income tax laws or the Foreign Exchange Management Act (FEMA).

The full form of NRI is ‘non-resident Indian’. A non-resident Indian is a citizen of India or a person of Indian origin who lives abroad for 182 days or more of the financial year – usually for work, study or business.

Yes, non-resident Indians (NRIs) can buy property in India for personal use or rental income. However, there are some rules and restrictions they need to follow under the Foreign Exchange Management Act (FEMA), 1999.

As an NRI, you can buy residential property (such as apartments, flats and houses) or commercial property (such as offices, shops and commercial complexes). However, you can’t buy:

Agricultural land
Plantation property
Farmhouses and properties intended for agricultural purposes

In addition, the purchase must be funded by money from:

An NRE account
An NRO account
Or inward remittances from abroad in a convertible foreign currency

Thinking about purchasing a property in India? Explore our home loans for NRIs.

Today, many banks allow you to open an NRI account online or via an app. At HSBC, you can open your account easily online, through the HSBC India Mobile Banking app, or by requesting a callback.

When you apply, you may be asked to provide:

A valid passport
Proof of address
Proof of overseas origin or your overseas visa

There may also be other requirements, depending on which type of account you wish to open.

Once you've submitted your documents, your account could be open in as little as 4 hours.

Explore: How to open an NRI account online

NRIs can manage their financial accounts in India in a number of different ways, but most customers choose to manage theirs through online and mobile banking.

Once you’ve set up your NRI account or accounts, with HSBC you can manage everything easily online or on your mobile, wherever you are in the world. If you need further support, you can also call us, or get in touch with one of our dedicated NRI desks in .

International services

Whether you’re living, studying or investing abroad, our international banking services help you feel at home wherever you are.

FX-Retail

FX-Retail is an electronic trading platform for buying or selling foreign exchange introduced by the Reserve Bank of India.

Foreign exchange rates

See our up to date FX rates for NRI services and remittances.

Notes

All foreign currency transactions through HSBC India are subject to applicable taxes.

Goods and Services Tax (GST) regulations and notified GST rates, Central GST and , State/Union Territory GST, and Cess as applicable or Inter-State GST, as applicable, would apply on our fees and charges.

The transaction value for forex conversion services is calculated as shown in the table.

**Currency transfer fees**
Currency transfer fees of currency exchanged	Value of Supply
Up to ₹100,000	1% of gross amount exchanged, subject to minimum amount of ₹250
From ₹100,001 to ₹10,00,000	₹1000 plus 0.5% of gross amount exchanged
Above ₹10,00,000	₹5500 plus 0.1% of gross amount exchanged, subject to maximum of ₹60,000

**Currency transfer fees**
Currency transfer fees of currency exchanged	Up to ₹100,000
Value of Supply	1% of gross amount exchanged, subject to minimum amount of ₹250

Currency transfer fees of currency exchanged	From ₹100,001 to ₹10,00,000
Value of Supply	₹1000 plus 0.5% of gross amount exchanged

Currency transfer fees of currency exchanged	Above ₹10,00,000
Value of Supply	₹5500 plus 0.1% of gross amount exchanged, subject to maximum of ₹60,000

Non-Resident Indian (NRI) accounts and /or deposits are under the Reserve Bank of India programme for Non-Resident Indians and are governed by the rules in effect from time to time relating to such programmes, are subject to the sovereign risk arising from and governed by the laws of, or any changes to the laws of India.

NRI deposits/ accounts are held with The Hongkong and Shanghai Banking Corporation Limited, India (HSBC India) and are not insured by any insurance company or corporation outside India and are payable only at the branch of the Bank in India where the deposit is made.

The deposit is being taken by The Hongkong and Shanghai Banking Corporation Limited, India, a banking Company incorporated under the Companies Ordinance of the Hongkong Special Administrative Region (HKSAR), having its registered office at 1, Queen’s Road Central, Hongkong, having its India Corporate Office at 52/60, Mahatma Gandhi Road, Fort, Mumbai - 400 001. The Hongkong and Shanghai Banking Corporation Limited, India (HSBC India) is regulated for any deposit taking business by Reserve Bank of India. If you have a complaint about our deposit taking business, which cannot be resolved to your satisfaction by ourselves, then you may be able to refer this to Grievance Redressal Mechanism of the Bank. Your deposit may be guaranteed under Deposit Insurance and Credit Guarantee Corporation (DICGC) which covers most types of deposit-taking business in the instance that we cannot meet our obligations. The Hongkong and Shanghai Banking Corporation Limited, India (HSBC India) has paid up capital and reserves of INR M 461,968 as at 31 March 2025.

NR deposits with the Bank in India are not insured by Federal Deposit Insurance Corporation (FDIC) of the USA, nor by any other insurance company or corporation outside India and are payable only at the branch in India where the deposit is made.

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.

NRI accounts and services are offered by The Hongkong and Shanghai Banking Corporation Limited, India (HSBC India). HSBC India is a branch of The Hongkong and Shanghai Banking Corporation Limited. The Hongkong and Shanghai Banking Corporation Limited has a Representative Office in the UAE licenced by the Central Bank of the United Arab Emirates.

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

For Residents within Kingdom of Bahrain, we remind you that deposits made with HSBC India do not benefit from the protection provided under the Deposit Protection Scheme established by the Central Bank of Bahrain regulation concerning the establishment of a Deposit Protection Scheme and a Deposit Protection Board.

NRI services are provided by HSBC India. HSBC India is the branch of The Hongkong and Shanghai Banking Corporation Limited and HSBC India is not regulated in Canada. NR deposits with the Bank in India are not insured by Canadian Deposit Insurance Corporation (CDIC), nor by any other insurance company or corporation outside India and are payable only at the branch of the Bank in India where the deposit is made. You should consult your tax advisor for the Canada treatment of income from these deposits.

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

Non-resident Indian (NRI) services

Stay connected to your finances in India

Want to know more about NRI services?

How we can help you

Explore our accounts for NRIs

More products and services for NRIs

Talk to us

Frequently asked questions

What is NRI?

Who is an NRI?

What is the full form of NRI?

Can NRIs buy property in India?

How do I open an NRI account?

How can NRIs manage their financial accounts in India?

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Notes

Revised Goods and Services Tax information

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