For Non-Resident Indians (NRIs), maintaining a seamless financial link with India is more than a convenience; it’s a necessity. Whether you’re sending money home, investing in India, or managing rent and dividends, the right banking partner can make all the difference.
HDFC Bank, one of India’s leading private sector banks, offers a comprehensive suite of NRI services tailored to your needs. In this guide, we’ll explore everything you need to know about HDFC Bank’s NRI accounts, from types and benefits to the application process and beyond.
Types of HDFC NRI Accounts
HDFC Bank offers a range of NRI accounts to cater to the diverse financial needs of Non-Resident Indians. In addition to the commonly known NRE, NRO, and FCNR accounts, HDFC Bank also provides the GIFT City Offshore Account, which offers unique benefits for NRIs.
GIFT City Offshore Account is a relatively new type of account available for NRIs that allows them to hold their funds in currencies like USD, GBP, Euro, etc. These accounts offer fixed deposits in international currencies, which are like FCNR deposits but of shorter tenures.
You can read more about the comparison between NRE, NRO and FCNR accounts here.
Features of HDFC Bank Useful for NRIs
HDFC Bank doesn’t just offer NRI accounts, but it also provides a complete, thoughtful banking ecosystem tailored to the needs of global Indians. Here’s what makes it a preferred choice:
Global and Local Support
HDFC Bank has strategically expanded its international footprint to cater to the banking needs of Non-Resident Indians (NRIs) and global clients. With branches and representative offices in Dubai, Abu Dhabi, and in seven other countries, HDFC Bank provides banking services across borders.
Strong Digital Infrastructure
HDFC’s NetBanking, Mobile App and WhatsApp Banking let NRIs access their accounts, make transfers, and track their investments. The user experience is intuitive and secure even for first-time users.
Diverse Investment Opportunities
With your HDFC NRE or NRO account, you can access a wide range of investment avenues in India. Park your funds in NRE fixed deposits for attractive, tax-free returns or use your NRO account for local earnings. The account also allows seamless investment in mutual funds and equity markets through a PIS-enabled demat account, making it easier for NRIs to build wealth across asset classes.
Personalised Relationship Management
High-value NRIs can access dedicated Relationship Managers who provide guidance on investments, taxation, account optimisation, and long-term wealth planning.
Real Estate Management
You can fund property purchases in India and manage EMIs through your NRE or NRO account, making real estate investment more streamlined.
Insurance & Retirement Planning
HDFC Bank has specially designed insurance policies and pension plans tailored for NRIs through its HDFC Life insurance division.
How to Open an HDFC NRI Account from UAE?
Opening your NRI account with HDFC Bank is straightforward and can be done fully online:
Choose Your Account: Decide between NRE, NRO, FCNR, or GIFT City based on your income source and repatriation needs.
Gather Documents: You’ll need:
Copy of a valid passport and visa/OCI card.
Recent passport-size photographs.
Proof of overseas address (utility bill or bank statement).
Proof of Indian address (Aadhaar, driver’s license, or utility bill).
PAN card or Form 60 (if PAN is not available).
These documents need to be self-attested and notarised either by any authorised official of overseas branches of Scheduled Commercial Banks registered in India, a Notary Public abroad, a Court Magistrate abroad, a Judge abroad, or the Indian Embassy/Consulate General in the country where the NRI/PIO resides.
Final Account Activation: You will have to visit the bank branch physically or courier the documents to the branch. These documents will be verified, and after the verification, the account will be activated. You will receive a welcome kit along with online banking credentials, and your bank account will be ready to use.
Fees and Charges to Keep in Mind
While HDFC Bank's NRI accounts are competitively priced, it's essential to be aware of the following charges:
Minimum Balance Requirements: Maintain an Average Monthly Balance (AMB) of ₹10,000 or a Fixed Deposit (FD) of ₹1 lakh for a minimum of 1 year and 1 day.
International Transactions: A cross-currency mark-up of 3.5% is applied on foreign currency transactions carried out on debit cards.
Please note that fees and charges are subject to change. Check the latest fee schedule or contact the bank directly for the most current information.
HDFC Bank UAE offices
HDFC Bank has established representative offices in key international locations to assist NRIs with their banking needs. Here are the details:
Dubai, UAE
Address: HDFC Bank Representative Office, 104, Jumaal Majid Commercial Building, Opp Bur Juman Centre, Trade Centre Road, P.O. Box No.64546, Dubai, UAE
Phone: +00971 - 43170000
Email: nri.dubai@hdfcbank.com
Working Hours: Monday to Friday: 9:00 AM – 5:00 PM; Saturday: 9:00 AM – 1:00 PM; Sunday: Closed
Abu Dhabi, UAE
Address: HDFC BANK Ltd (Rep. Office), 203, Salam HQ Building, Opp. Abu Dhabi Municipality, Salam Street, Abu Dhabi (UAE) PO BOX 106514, UAE
Phone: +00971 - 26937000
Email: nriabudhabi@hdfcbank.com
Working Hours: Monday to Friday: 9:00 AM – 5:00 PM; Saturday: 9:00 AM – 1:00 PM; Sunday: Closed
These international offices provide NRIs with convenient access to HDFC Bank's services, ensuring seamless banking experiences across borders.
Is HDFC Bank right for you?
For NRIs looking to maintain a robust financial link with India, HDFC Bank NRI accounts offer the perfect blend of convenience, security, and choice. From tax-efficient savings and flexible repatriation to a host of investment avenues, HDFC equips you to manage and grow your wealth seamlessly across borders.
