Canara bank nre account application

Definition of NRE account?

• Non Resident Indian i.e. An Indian Citizen, who have gone abroad for gainful employment or for carrying on a business or vocation or for any other purpose in circumstances indicating an intention to stay outside India for an uncertain duration)

• Hassle free repatriation and remittance facility.
• TAX free interest on deposit.
• Registration of mandate.
• Opportunity to invest in Indian investment instruments.
• Provision of International debit card to withdraw funds.
• Crew members of Indian nationality or Indian origin can open NRE account.

• OCI/PIO can open NRE account.
• NRE Account allows you to receive foreign currency remittance.
• Denominated in Indian currency.
• Full Repatriability of Funds outside India.
• No income tax on interest income.
• Easy to invest money in Indian investment instruments.
• Conversion into RFC Account upon return to India.
• Facilities such as Internet Banking, Mobile banking, locker, nomination is available.
• Loans are permitted for investment in India.

Proof of NRI status documents

Indian Passport with all relevant details along with any one of the below mentioned documents.

• Valid Visa
• Work Permit
• Proof/certificate of residence
• Employment / Employment Contract copy
• Residence Permit
• E-visa

B. For PIO/OCI:

Foreign Passport with all relevant details along with any one of the below mentioned documents

• OCI Card
• PIO card
• Indian Ration Card (Self or Close Relative)
• Indian Voter ID card (Self or Close Relative)
• Expired Indian Passport (Self or Close Relative)
• Marriage Certificate along with spouse’s NRI/PIO status proof
• Certificate issued by Indian Embassy
• Relevant pages of Passport of Parents / Grand Parents establishing their Indian Origin.

C. For Seafarer:

Indian Passport with all relevant details along with below mentioned documents

• Valid Visa
• Work Permit
• Valid Job Contract
• Continuous Discharge Certificate (CDC), if the disembarkation stamp on CDC is not more than 180 months’ old
• Expired contract letter (if the disembarkation stamp on CDC is not more than 180 days’ old
• Pay slips evidencing employment with shipping company ( not more than 6 months old)

D. For Students studying in India (NRO a/c only):

Abroad passport containing identity and address of home country along with below mentioned documents.

• Valid VISA
• Immigration Endorsement
• Admission letter from educational institution
• Current proof of address within one month of account opening
• For continuation of account beyond 6 months RBI permission is required (FRRO Registration)

E. For Tourists accounts (NRO a/c only):

Abroad passport containing identity and address of home country along with below mentioned documents.

• Tourist VISA
• Immigration Endorsement
• Current proof of address
• For continuation of account beyond 6 months RBI permission is required ( FRRO Registration)

Address proof document

A. Indian address proof documents Any one of the below mentioned:

• Indian Passport
• Aadhaar Card
• Driving License
• Voter Identity Card
• NREGA Job Card signed by officer of state government

B. Overseas address proof documents:

• Abroad Passport
• Sale deed agreement
• Lease deed/rent receipt not more than 3 months’ old
• Overseas Driving license
• Company ID containing address
• ID issued by government mentioning overseas address (PIO, OCI, Green Card, SSN card issued in US)
• Utility Bills (Mobile, Water, Electricity, Gas from private or public operators not exceeding 2 months prior only)
• Employment letter/Employer certificate mentioning overseas address
• Bank Statement of Overseas Bank account or Indian based bank in abroad (max.2 months old)
• Credit card statement (Not more than 3 months old from date of application)
• For Indian Diplomat certificate issued by Indian Diplomatic mission stating correct address
• Identity Card issued by Foreign government
• Registered Rent Deed
• Government issued letter mentioning overseas address
• Work Permit mentioning overseas address
• OCI/PIO card mentioning overseas address
• NRIs with seafarer work profile and on ship, can either give employer’s overseas address or Indian address.
• Council Tax Bill
• Permanent Resident permit mentioning overseas address: Example of Resident Permit: UAE-Resident Card, Qatar/Oman/ Singapore/Malaysian-Residence card, Saudi Arabia-Resident Permit (Iqaama),
• In case of joint account with close relative, document evidencing and establishing relation is required.

(For NRI with seafarer work profile and on ship, can either gives employer’s overseas or Indian address).

Additional proof for non-face to face customer (who are not visiting our branch for account opening)

Any one of the following:

• Indian Passport
• Proof income / Income tax return / Salary slip of applicant
• Cancelled cheque of overseas bank account of applicant
• Cheque drawn on overseas bank account of applicant