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Mariner's account

What is a mariner's account?

A mariner's account is a non-resident Indian (NRI) savings account designed to help seafarers manage their money wherever they are in the world. If you work at sea, this is the account for you.

Our mariner's account comes as a non-resident external (NRE) account as standard, but you can open a non-resident ordinary (NRO) mariner's account as well for any Indian income you have[@nro-tax].

You'll hold your mariner's account with us as a Premier or Personal Banking account.

Ready to apply?

Enjoy hassle-free repatriation

Transfer money easily to and from India, with no documentation needed and no transfer limits from a mariner's NRE account.

Earn tax-free interest

The interest you earn from a mariner's NRE account is completely tax-free in India, helping your money grow more easily[@nri-tax].

Get access to Premier rates

Open your account as a Premier Account and enjoy preferential exchange rates[@nri-fx-rates] when converting your money to rupees, plus exclusive mortgage rates too.

More mariner's account features

Bank seamlessly on land and at sea

Whether you're out at sea or back home in India, managing your money is quick, simple and secure with your mariner's account.

Transfer your money quickly to and from India if you need to, with competitive exchange rates and no fees from HSBC
Receive a debit card you can use for transactions in India and abroad[@nri-debit-fees-abroad] [@nri-atm]
Set up bill payments for your family in India – for their electricity and mobile phone bills, for example
Get help whenever you need it in app, online, by phone or in person at our network of branches worldwide

Manage your money online and on mobile

With online banking and the HSBC India Mobile Banking app, staying on top of your finances is easy no matter where in the world you are.

View all your HSBC accounts in one place, wherever you are, whenever you want
Move funds between your accounts with just a couple of taps or clicks
Log on to our app in an instant with fingerprint or facial recognition

Add a power of attorney or nominee

Your mariner's account also allows you to grant power of attorney (POA) to a family member in India, so they can manage your finances for you while you're away[@nri-poa-nominee].

Your family member will receive a debit card[@nri-debit-card] and be able to use your account for certain transactions on your behalf
They’ll also receive a chequebook they can use for payments in India, and they can deposit foreign currency cheques in your name into the account
You can also add a nominee – someone to receive the deposited funds in the event of your death

Choose from Premier or Personal Banking

Our mariner's account is available as a Premier or Personal Banking account. Choose Personal Banking, and you'll enjoy our standard banking service. Choose Premier, and you'll get access to premium services, exclusive products and your own dedicated Relationship Manager for you and your family in all markets offering Premier.

Eligibility criteria apply.

Things to know before you apply

Who can apply for a mariner's account?

To apply for a mariner's account, you must:

Be a non-resident Indian (NRI), a person of Indian origin (POI), an overseas citizen of India (OCI) or a seafarer employed with foreign vessels
Have your salary paid into the account

Additional eligibility criteria may apply depending on whether you choose to open your account as a Personal Banking or Premier customer.

You'll hold your mariner's account with us as a Premier or Personal Banking account.

Premier Account

To open an NRO account as a Premier Account, you must meet at least one of the following criteria:

Maintain a quarterly Total Relationship Balance (TRB)[@nri-total-relationship-balance] [@nri-trb-shortfall-charge-premier] of at least INR40,00,000 (40 lakh), or
Maintain a salary account with a net monthly salary credit of at least INR3,00,000 (3 lakh), or
Hold a mortgage of at least INR1,15,00,000 (1 crore 15 lakh) and meet the TRB criterion of at least INR4,000,000 (40 lakh) within 12 months from the date of first disbursement of the mortgage loan, or
Already qualify for Premier in another country/territory

More information on Premier eligibility

Personal Banking Account

To open an NRO account as a Personal Banking Account, you must meet at least one of the following criteria:

Maintain a quarterly Total Relationship Balance (TRB)[@nri-total-relationship-balance] [@nri-trb-shortfall-charge-personal-banking] of at least INR1,50,000, or
Hold an HSBC corporate salary account under Employee Banking Solutions (EBS), with monthly salary credits of at least NR25,000, or
Have a mortgage with HSBC, with your equated monthly instalments (EMIs) being debited from this account

To apply for a mariner's account, you'll need:

A valid passport
An overseas visa
Proof of address (such as your passport, latest utility bill or contract letter)
A Permanent Account Number (PAN) card or Form 60 if you don't have a PAN card
A Foreign Account Tax Compliance Act (FATCA) declaration for the United States, or Common Reporting Standard (CRS) for other countries
A Continuous Discharge Certificate (CDC)

If you're applying for a joint account, we'll need documents for both applicants.

You can open a joint account with:

Another NRI
A resident Indian who's a close relative, such as your spouse, parent, sibling or child

If the joint account holder is a resident Indian, the account must be operated on a former or survivor basis. This is where only one person, the 'former' (the NRI), can operate the account while they're alive. If the former dies before the 'survivor' (the other joint account holder), the survivor can take over.

To open a joint account, you and the joint account holder will need to come into an HSBC branch in India or overseas. If it's overseas, please make an appointment first by contacting us or your nearest branch directly.

Relatives you can hold a joint account with (PDF) Download

Ready to apply for a mariner's account?

Get an immediate callback

The fastest way to apply. Get a callback straight away and your account could be open in just 4 hours from the moment you submit your documents.

Request a callback This link will open in a new window

Apply online

Apply for your account by completing our online application form.

Apply online for Mariner’s Account. Go to NRI – Contact Us form to leave you details. This link will open in a new window

Frequently asked questions

You'll need to maintain an average monthly balance of INR150,000 to open a mariner's account with us, if you hold your account as a Personal Banking account.

If you'd like to hold your account as a Premier customer, you'll need to maintain a quarterly Total Relationship Balance of INR40,00,000 or meet one of the other Premier eligibility criteria.

It depends. You can open either an NRE or an NRO account as a seafarer:

If you choose an NRE account, no you won't have to pay tax in India
If you choose an NRO account, yes it will be subject to tax, as it is for earnings in India

An NRE mariner's account lets you deposit your salary from overseas into an account in India, by converting it to rupees at the current exchange rate. Both the principal and any interest earned is tax free.

You could also need an NRO mariner's account if you want to deposit local income, such as rents, dividends or investments. These are subject to tax, like any other earnings in India.

NRE account 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?

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

Understanding NRI income tax rules

See how the different tax guidelines, exemptions and deductions will affect what you pay as a non-resident Indian.

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.

Mariner's account

What is a mariner's account?

Why choose our mariner's account?

Enjoy hassle-free repatriation

Earn tax-free interest

Get access to Premier rates

More mariner's account features

Bank seamlessly on land and at sea

Manage your money online and on mobile

Add a power of attorney or nominee

Choose from Premier or Personal Banking

Things to know before you apply

Who can apply for a mariner's account?

Additional eligibility requirements

What documents you'll need to apply

How to open a joint account

Account documents and useful links

Ready to apply for a mariner's account?

Get an immediate callback

Apply online

Frequently asked questions

What is the minimum amount needed to open a mariner's account?

Do seafarers have to pay tax on a mariner's account?

Why would I need an NRO mariner's account as well as an NRE mariner's account?

You might also be interested in

NRE account benefits for NRIs

What is an NRO account?

Understanding NRI income tax rules

Notes

Revised Goods and Services Tax information

Disclaimer

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