Best bank for NRE account in India | Best NRE Account for Seafarers | Seafarer NRE Account

#NRE_account #NRO_account #NRI_account

In this post we will discuss best bank for nre account in India & out of it which bank accout is best for Indian Seafarers to open nre account and What is the purpose of NRE & NRO account along with this I have shared how to open NRE account & what documents are required to open nre account in India.

Lastly, I have shared which bank account I am using personally for NRE & NRO account.

 

Best NRI account for any of seafarers or a person who's living or working outside the India.

what is the procedure to open a documentation are required what is the purpose of having an NRI account and lastly I will take bank account I use.

 

Hey guys, this is Akshay and today we are going to see what is NRI account and what is the purpose of it. And lastly, I will tell you which bank account I'm using as well. So after reading this article if you find this video is valuable, then please make sure you do share this video with your friends. 

 

Best bank for nre account in india | Best NRE Account for Seafarers | Seafarer NRE Account

 

Type of NRI accounts:

 

So first of all, let's see what is the NRI account well, in NRI account, you are going to get two accounts. NRE account and NRO account and why NRI account required because a person who is living outside India working outside of India, normally recommended or mandatory to open a NRI account. 

 

NRE Account: 

Let's talk about NRE account first NRE account means non resident external which is a bank account is particularly open to receive a Forex that means an Indian seafarers who's working outside India are going to receive a salary into dollars, euros or pounds or maybe some other currency. 

 

So, when you go you join the ship or maybe before that only you are going to submit your account details to receive a salary this is the bank account we are going to mention or you're going to submit. 

 

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So, this bank account is very particular to receive only Forex when you transfer money from outside the india that the money is going to be received in this bank account you cannot transfer a normal NEFT like you have a normal savings account or your family members has regular savings account so cannot transfer money to this account 

 

NRO Account: 

 

NRO account which is a non resident ordinary account which is as simple as I will say or as same as normal regular savings account which is open into India. So, this has a very basic function, which I will say like suppose if any of the person who is NRI generating income from India. 

 

So that means that income is going to be received or transferred to this bank account because, as I said, you cannot receive money from any regular savings account or direct cash deposit into NRE account that can be done only into an NRO account. 

 

So, that's why these two bank accounts are always recommended to open and they mostly come clubbed together. 

 

How to open NRE & NRO Account:

Now let's see how you can open this bank account. Well, by the time you're going to open this bank account, there are some lists of documents which are required.

 

List of documents are:

• Aadhar card

• PAN card

• CDC

• Passport

• Visa 

• Contract copy or a job offer letter 

 

So these are the documents which are going to be required. 

 

Best bank for NRE account in india?

 

So now let's see which bank account is best? Well, in this case, I will say you should always go for the bank account, which provides very good internet banking services. That means online services are best. So when you say like that, there are four or five banks, which comes into my mind like SBI when it comes from the government banks.

 

SBI is the best bank I would say in terms of online services. I'm not telling you to go to the bank and be in a line there. That is the worst scenario I will talk about about the government banks. But here we're talking about online services and SBI is a bank which understand very very clearly about a terms and conditions for Indian seafarers. So, I would recommend that 

 

Second thing in private bank I would recommend Axis bank, ICICI bank,  HDFC banks keep as the last option & forth I would say Kotak Mahindra bank.

 

So these are the bank which are recommended to open so which bank account you should open, you should always choose a bank account among these and between these you're going to choose which is nearest to your home. Because at anytime you don't have to take a stress to go to the bank, which is really far away. So whatever bank is nearest to you, you should choose that.

 

In Conclusion,  If any of these banks is providing a particularly NRI branch in your location, that is going to be a very, very nice and you will receive a very nice customer service over there. So I hope all your doubts has been cleared. And if you liked this post, make sure you hit the like button.