Money and Banking: Bank Account Requirements

Opening a local bank account can make residing abroad easier.

Banks have varying requirements to open an account.

In India, banks are required to verify your identity before you can open an account. To do this, you must present certain documents to prove your identity, including primary photographic identification (e.g., passport, driver’s license) and primary non-photographic identification (e.g., birth certificate, pension card, visa, residential permit), and possibly secondary identification. You may also be asked to provide a PAN card (an income tax card), proof of address (e.g., a utility bill), and a recent photograph. Contact your bank for its exact requirements.

You’ll need to decide what type of account(s) you want to open, which will depend on how you like to access your money and how frequently you’d like to do so.

India permits foreign nationals who are visiting India to open an NRO bank account for a maximum period of six months. The account may only be credited with funds remitted from outside India, or by the sale of foreign currency within India.