Saturday, July 23, 2016

How to open NRE or NRO account in Singapore - SBI, Kotak, HDFC

If you are an Indian staying in Singapore and want to open NRE or NRO account with Indian banks like SBI, Kotak, HDFC, ICICI, Yes Bank, Axis Bank, or foreign bank with Indian operations like DBS bank, then you have a couple of options with you. The first and most convenient option is provided by the biggest bank of India, the SBI (State Bank of India). SBI Singapore provides the facilitation services for Non-resident Indians (NRIs) to open NRE, NRO, and FCNR B account right from Singapore.

SBI has a couple of branches in Singapore, two of most notable are in Little India, just next to Farrer Park MRT, CitySquare Mall, towards Mustafa travel center and other on Cecil Street on Central business district (CBD), which provides this facilitation facility to open NRI account from Singapore itself. All you need to do is complete the NRI online account opening application, take the printout of completed application and visit the branch along with required documents for attestation.

Other banks like HDFC, ICICI, Kotak, YESBANK and Axis bank they don't have any facilitation center in Singapore, but they do provide online account opening facility. All you need to do is fill the online NRI account opening form, upload the scanned copies of required documents for verification and send the printed and signed PDF with self-attested copies of approved documents. You can also convert your local saving account to NRO account online.

Required document for opening NRE account

In order to open any NRI account e.g. NRE (Non-Resident Externals), NRO (Non-Resient Ordinary) and FCNR (Foreign currency non resident), you need following documents:
  1. Identity proof, you can submit photocopy of the pages of the passport containing passport details & personal details of all applicants.
  2. NRI status proof, Copy of valid visa or work permit e.g. Employment pass, dependent pass etc
  3. Passport photo of each applicant
  4. Mailing address proof e.g. telephone or internet bill e.g. from Singtel or Starhub, utility bills e.g. from SP Services
  5. Additional documents asked by banks
  6. A cheque drawn on a bank account abroad including IP Cheque (having address)
This is more or less general list of documents. There could be some difference, depending upon which bank you are opening account. Some e.g. HDFC bank and Kotak Bank accept self attested documents but some banks e.g. YESBANK ask you to attest your documents form Indian embassy, banker, or notary, So always check the respective bank site for complete detail.

Opening SBI NRE account in Singapore

Here are the steps to open NRE, NRO, or FCNR B account with SBI from Singapore:
  1. Complete the NRI online account opening form
  2. Print out the completed form
  3. Visit the Little India or Cecil Street branch with required documents.
You can visit the SBI Little India branch without appointment for opening NRI account everyday from 2.00 PM to 6.00 PM. While for NRI facilitation service with other branches e.g. Jurong East, Marine Parade and Verdun Road you need to take prior appointment. For appointment you can contact the relevant branches. See here for more details

How to open NRE or NRO account in Singapore - SBI, Kotak, HDFC

Opening HDFC or Kotak NRE account in Singapore

Both HFDF Bank and Kotak Mahindra bank provides online account application facility for NRIs to open NRE or NRO saving account and fixed deposits. One you open a NRE saving account, you can easily open NRE fixed deposit by using their net-banking facility.

Here are the steps to open NRE account with HDFC bank India from Singapore:

1) Complete the online application form. A PDF version of the complete application will be generated on submission, take print out of that
2) Upload the scanned copies of required documents for verification and KYC.
3) Send the printed and signed PDF with self-attested copies of approved documents along with a cheque of value 10K for initial account opening amount.

See here for more details

That's all about how to open NRE account from Singapore. Other Indian banks from both public and private sector e.g. ICICI bank, Axis Bank, Indian Overseas Bank, Yes Bank provide online account facility. All you need to do is fill the online account opening form and send the required documents (self-attested or attested by notary, embassy, depending upon which bank you are opening the account) along with the cheque of the initial amount. You can directly send the documents to India using Registered mail or normal mail.


  1. The Singapore based DBS (Development Bank of Singapore) now has operations in India and allow you to open both NRE and NRO account right from Singapore. They also offer attractive interest rate of 6% on NRE and NRO saving account. They are also giving Complimentary International Platinum Debit Card with NRE account for international use and Complimentary Platinum Debit card with NRO account for India use only.

    I think, if you are living in Singapore DBS is the best bank to open NRE/NRO account without visiting India.

  2. You can open a NRE/NRO saving account from Kotak Mahindra bank online by visiting

    Just fill the online form and they can arrange for pickup of documents. Very easy, you can open NRE/NRO account from not only Singapore but from USA, UK and UAE. They provide pick-up service for all those locations. Recently, I applied NRE account with Kotak for my wife and as soon as I fill my initial details online their relationship manager called me immediately and help me to fill the online form. The online form is also very easy to fill only essential details are required and form is also autosaved at every 1 to 2 minutes which means you won't lost any data you already filled up. I am really impressed with the procedure of opening an NRE saving account with Kotak. In order to submit documents I can either upload or ask for them to pick up from my home or office address.

    I have uploaded my wife's dependent pass and passport very easily by using the same online form link.

  3. I have a very bad experience with HDFC bank NRO account, while I apply online form for NRI account I tik on existing customer but they consider my form for NRE account only. They take almost more than two weeks for my NRE account, while ask her for my NRO account she told we will do it later. After Opening my NRE account she never call me and while I call her to ask about my status of NRO account she told me our team is working on that and they will contact you, at the mean time you just drop a mail to support team for the same. After dropping email I haven't received any call and reply from HDFC side. Again I call to them and about the status after one week they reply that we need your application form number and address of branch where you submitted the form.
    I don't know if they don't my application form then what type of work they ware doing two weeks ago. It is almost more than one month complied but still I don't have my NRO account. Same thing they are asking for Dmate and trading account also.
    At the time of NRE they provided courier service but now they are saying to send to us. We will not provide any pick up service.

    So please take care for this things before NRE please ask them to process first to convert your saving, tra dings and all to the NRI then only go for NRE.

  4. Repatriation from indian account is a problem at times, for NRI account holders.
    The SBI bank branch I have been dealing with is either reluctant or not able for whatever reason, to return back funds to my overseas account.

    Beware of the issues and test the system before transferring significantly large sums.
    Try small amounts like USD1,000 to 5,000, and test if they are able to effect a repatriation back to your own country without hassle. If you encounter issues, even the 6% FD rate may not be enough to cover the hassle.


  5. I go to s.b.i .but they not responded also they say there no facility to n.r.i account in SG ....( S.b.i bank farrer park m.r.t)

  6. HDFC online form sucks guys have no idea how local telephone numbers are like! Insist on area code and telephone number as in India.:D I tried and dropped opening an account with the stupid HDFC guys.

    SBI is a white-elephant, no customer service, whatever.
    ICICI was better, but scared of Chanda Kochchars