NRO Account Opening Documents/ Opening Procedure - NRO Savings Account - Kotak Bank
  • Personal
  • Business
  • Corporate
  • Private Banking
  • Privy League
  • NRI Services
  • Investors
logo Help Center logo Locate us
  • Personal
  • Business
  • Corporate
  • Private Banking
  • Privy League
  • NRI Services
  • Investors
Products

Popular Products

productCArd

Credit Cards
productCArd

Personal Loan
productCArd

Savings Account
productCArd

Home Loan
productCArd

Current Account
productCArd

Business Loan
productCArd

Mutual Fund
productCArd

NPS
productCArd

Tax
productCArd

Fixed Deposit

Show More

Help

Quick Help

productCArd

Locate us
productCArd

Contact us
productCArd

Report Fraud / Raise Dispute

Show More

Frequently Asked Questions

productCArd

Accounts
productCArd

Payments
productCArd

Credit Card
productCArd

Kotak 811
productCArd

My Profile
productCArd

Loans
productCArd

Digital Banking
productCArd

Deposits
productCArd

Investments
productCArd

Insurance
productCArd

Working Capital

Show More

Get App

For Kotak Bank Customers

productCArd

Kotak Mobile Banking App
productCArd

Open Savings Account

For Kotak811 Customers

productCArd

Kotak811 Mobile Banking App
productCArd

Open Kotak811 Account
productCArd productCArd

Home

 productCArd productCArd

Services

 productCArd productCArd

Products

 productCArd productCArd

Help

 productCArd productCArd

Get App

NRO Rupee Savings Account

Enjoy the best of both worlds for your finance.

NRO Rupees Savings Account
More

Non Resident Indian

Documentation for Non Resident Indian, while submitting the account opening form / documents at Kotak Bank Branches in India:

  1. Photocopy of Indian Passport pages where your name, photograph, date and place of birth, specimen-signature, date of issue / expiry and address details are recorded; and
  2. Copy of valid Visa / Work / Residence Permit (the visa could be either in the passport or given separately); and
  3. Proof of Mailing Address (local or overseas address as selected for communication on the account opening form); and
  4. Latest colour photograph (passport sized)

Documentation for Non Resident Indian, while sending the account opening from / documents overseas:

  1. Photocopy of Passport pages where your name, photograph, date and place of birth, specimen-signature, date of issue / expiry and address details are recorded; and
  2. Copy of valid Visa / Work / Residence Permit (the visa could be either in the passport or given separately); and
  3. Proof of Mailing Address (local or overseas address as selected for communication on the account opening form); and
  4. Latest colour photograph (passport sized)

The documents mentioned above need to be attested by:

  1. Overseas branch bank official of an Indian Scheduled Commercial Bank including Kotak Mahindra bank OR
  2. Bank official of Overseas commercial Bank of Kotak Mahindra bank. List of branches are uploaded on www.kotak.com OR
  3. Notary Public abroad / Court Magistrate / Judge OR
  4. Indian Embassy/Consulate General in the country where the non-resident customer resides.

 

Person of Indian Origin

Documentation for Person of Indian Origin (PIO), while submitting the  account opening form / documents at Kotak Bank Branches in India:-

  1. Photocopy of Foreign Passport pages where your name, photograph, date and place of birth, specimen-signature, date of issue / expiry and address details are recorded; and
  2. Copy of valid Visa / Work / Residence Permit (required only if the country of mailing address is different from the country of citizenship and India, the visa could be either in the passport or given separately); and
  3. Additionally, applicant has to provide any of the below mentioned document, if the place of birth is outside India:
    • Copy of Indian passport of spouse OR
    • Copy of Indian passport held by self or parents / grandparents at any time OR
    • PIO Card OR
    • OCI (Overseas Citizen of India) Card
  4. Proof of Mailing Address (Indian or overseas address as selected for communication on the account opening form); and
  5. Latest colour photograph (passport sized)

Documentation for Person of Indian Origin (PIO), while sending the account opening from / documents overseas:-

  1. Photocopy of Foreign Passport pages where your name, photograph, date and place of birth, specimen-signature, date of issue / expiry and address details are recorded; and
  2. Copy of valid Visa / Work / Residence Permit (required only if the country of mailing address is different from the country of citizenship and India, the visa could be either in the passport or given separately); and
  3. Additionally, applicant has to provide any of the below mentioned document, if the place of birth is outside India:
    • Copy of Indian passport of spouse OR
    • Copy of Indian passport held by self or parents / grandparents at any time OR
    • PIO Card OR
    • OCI (Overseas Citizen of India) Card
  4. Proof of Mailing Address (Indian or overseas address as selected for communication on the account opening form); and
  5. Latest colour photograph (passport sized)

The documents mentioned above need to be attested by:

  1. Overseas branch bank official of an Indian Scheduled Commercial Bank including Kotak Mahindra bank OR
  2. Bank official of Overseas commercial Bank of Kotak Mahindra bank. List of branches are uploaded on www.kotak.com OR
  3. Notary Public abroad / Court Magistrate / Judge OR
  4. Indian Embassy/Consulate General in the country where the non-resident customer resides.

Seafarer Employed with Foreign Vessels

Documentation for Seafarer employed with foreign vessels, while submitting the documents at Kotak Bank Branches in India:-

  1. Photocopy of Passport pages where your name, photograph, date and place of birth, specimen-signature, date of issue / expiry and address details are recorded; and
  2. Copy of valid Transit / Work Visa (the visa could be either in the passport or given separately); OR Copy of Continuous Discharge Certificate (CDC). The CDC must indicate latest discharge stamp / last date of arrival in India, or a declaration that you are sailing for the first time; and
  3. Valid Contract Copy OR Original letter on the letterhead from agent / principal carrying logo and address providing contract details namely: 1. Name of the employee 2. Employment in the principal shipping company (Name of the principal where employed & Address of the overseas company) 3. Name of the vessel & flag. 4. Name of the port. 5. Commencement of contract. 6. Tenure. 7. Salary in foreign currency. 8. Passport no.; and
  4. Merchant Navy Declaration - Format provided in the Account Opening Form; and
  5. Proof of Mailing Address (Indian Address only); and
  6. Latest colour photograph (passport sized)

Disclaimers

All KYC documents provided to be mandatorily self-attested, except on furnishing original documents / certificates.

Ready to take the next step?

Apply Now

Frequently Asked Questions

icon

In which currency is my NRO savings account maintained?

You NRO savings account will be maintained in Indian Rupees.

Was this information helpful to you? Yes No

Can I repatriate funds held in my NRO savings account?

RBI allows repatriation of balances held in NRO savings account up to one million USD or equivalent per financial year for bonafide purposes (For e.g. education, medical expenses, employment etc.) with documentation.

However, Indian income earned in the current FY (like rent, dividend, interest) can be repatriable as per the above criteria provided there is no tax liability arising out of this income.

Was this information helpful to you? Yes No

What is the minimum amount required to open a NRO savings account?

The minimum amount required to open NRO savings account is Rs. 10,000/- or its equivalent in foreign currency. You would be required to maintain an Average Monthly Balance of Rs. 10,000 only.

Was this information helpful to you? Yes No

How is average monthly balance (AMB) calculated?

Average monthly balance is the sum of daily closing balance of all the calendar days in a month divided by the number of days in that month.

Was this information helpful to you? Yes No

Are these accounts taxable in India?

As per current guidelines, the principal amount in NRO savings account is exempt from taxes in India. However, the interest earned will be subject to a tax of 30% (plus applicable surcharge and cess).

However, on availing DTAA facility, the TDS rate applicable would be in range of 10-25% as per the country of residence based on the prevailing DTAA agreement from time to time

Was this information helpful to you? Yes No

Related Products

nre_account-platina

Know More

nre_rupee_savings_account

Know More

nro_account-platina

Know More

Apply Now