Have you seen the local orange sign bank nearby? Yes, it is no other than the Bank of Baroda. Bank of Baroda is one of the popular banks in India and comes among the leading banks with over 132 million customers.
Bank of Baroda has a presence of over 107 branches overseas and over 24 countries worldwide. It is no wonder noticing that this bank also provides NRI Banking services and allows Non-Resident Indians to open a bank account with this bank.
Let me tell you. You are qualified as an NRI if you spend more than six months outside India. Therefore, converting your bank account status to NRI is necessary for further benefits.
What is an NRI Account? (Meaning)
NRI (Non-Resident Indian) account refers to the bank accounts opened by people who are Indians but not living in the country. The bank account is opened with all the formalities and regulations of RBI (Reserve Bank of India) to provide various services to NRIs.
A simple full-form would be; a Non-Resident Indian Bank account opened with the RBI-approved banks.
BOB NRI Accounts
As mentioned earlier, it is no longer to be surprised that your local orange bank provides NRI Banking services to the people living outside India. BOB (Bank of Baroda) offers its customers three types of NRI Accounts.
- NRE: Non-Resident External
- NRO: Non-Resident Ordinary
- FCNR: Foreign Currency Non-Resident
You can find all the information about these accounts on the BOB banking page.
How to Open an NRI Account in BOB? (BOB NRI Account Opening)
There is no need to be an existing customer of Bank of Baroda to open an NRI account. It is possible to open a new NRI account with the help of any bank person in India. Otherwise, another option exists to open such a bank account online with the help of required documents.
We have helped our readers for a long time. Thus, we’ll be adding the complete process to open an NRI account in BOB.
- You need to open the BOB Forms page to get further information and document. Just visit by clicking here.
- Select the NRI account type and click on the PDF link that suits you.
- Fill in all the information in the form by printing it and signing it.
- After that, gather all the documents and copies of the papers and start looking for the nearest Indian Embassy or High Commission office.
- Do not forget to have your documents attested.
- Lastly, mail all the documents to the BOB head office and await their approval.
- 2 Passport-Sized photographs.
- Indian Passport.
- Visa & Work Permit Documents.
Which Bank is Best for Opening an NRI Bank Account?
We have come to the last, and the question still arrives in some of our reader’s minds. The question is, which bank is best for opening an NRI Bank account?
The quick and honest answer from us would be the Bank of Baroda for many reasons. It can be due to the services, minimum balance requirements, and quick opening of bank accounts outside India.