Axis Bank NRI Account

The Axis Bank NRI Account is a gateway to seamless banking services designed exclusively for Non-Resident Indians (NRIs) and Persons of India Origin (PIOs). With a range of features and benefits designed to cater to the unique banking needs of NRIs, an Axis Bank NRI Account offers convenience, flexibility, and a reliable way to manage your funds, investments, and transactions across borders. Whether you're looking to save, invest, or handle day-to-day financial matters, Axis Bank's NRI Account offers hassle-free banking for everything.

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Policies Sold

About Axis Bank NRI Account

An Axis Bank NRI Account is a specialized banking account offered by Axis Bank for Non-Resident Indians (NRIs). It allows NRIs to hold and manage their foreign earnings and investments in India. 

These accounts come in various types, such as NRE (Non-Resident External) and NRO (Non-Resident Ordinary), each with distinct features and benefits. 

Axis Bank NRI Accounts facilitate easy fund transfers, currency conversion, and investment options for NRIs while complying with Indian banking regulations.

Read Here: NRE vs NRO

Types of Axis Bank NRI Account

Here is a list of Axis Bank NRI Account types and their features:

Account Type Features and Benefits
Easy Savings Account
  • Basic NRI savings account with easy access
  • Low minimum balance requirement
  • Minimum Balance: Rs. 10,000 per month
  • Online fund transfers and bill payments
  • Nomination facility for account holders
NRI Prime Savings Account
  • Higher interest rates
  • Minimum Balance: Rs. 25,000 per month or Rs. 1 lakh for Fixed deposits
  • Multi-currency options (USD, GBP, EUR)
  • Preferential forex rates
  • Enhanced features and premium services
NRO Account
  • For managing income earned in India
  • Repatriable and non-repatriable options
  • Ideal for managing local income and expenses in INR
  • Taxable in India
NRE Account
  • For holding foreign income in Indian currency
  • Fully repatriable, both principal and interest
  • Tax-free in India
Mariner Account
  • Special savings account for seafarers
  • Special benefits for maritime professionals
  • Minimum Balance: Rs. 10,000 per month or Rs. 1 lakh for Fixed deposits
  • Multi-currency options (USD, GBP, EUR)
Priority Account
  • Priority banking services with personalized attention
  • Minimum Balance: Rs. 2 lakhs quarterly or minimum Rs. 4 lakhs as relationship value
  • Dedicated relationship manager
  • Preferential forex rates
Burgundy Account
  • Premium NRI banking experience for HNIs
  • Minimum Balance: Rs. 10 lakhs quarterly or minimum Rs. 30 lakhs as relationship value
  • Access to wealth management and advisory services
  • Exclusive lifestyle benefits

Investment Plans for NRIsInvestment Plans for NRIs

Axis Bank NRE and NRO Account FD Interest Rates

Tenure Axis FD Interest Rates for NRO Deposits* (% p.a.)
7 - 14 days 3.00
15 – 29 days 3.00
30 – 45 days 3.50
46 – 60 days 4.25
61 days - < 3 months 4.50
3 months - < 4 months 4.75
4 months - < 5 months 4.75
5 months - < 6 months 4.75
6 months - < 7 months 5.75
7 months - < 8 months 5.75
8 months - < 9 months 5.75
9 months - < 10 months 6.00
10 months - < 11 months 6.00
11 months - 11 months 24 days 6.00
11 months 25 days - < 1 year 6.00
1 year - 1 year 4 days 6.70
1 year 5 days - 1 year 10 days 6.70
1 year 11 days - 1 year 24 days 6.70
1 year 25 days - < 13 months 6.70
13 months - < 14 months 6.70
14 months - < 15 months 6.70
15 months-  < 16 months 7.10
16 months - < 17 months 7.10
17 months - < 18 months 7.10
18 Months - < 2 years 7.10
2 years - < 30 months 7.10
30 months - < 3 years 7.10
3 years - < 5 years 7.10
5 years - 10 years 7.00

Note: The Axis Bank FD Rates for NRE deposits are applicable for a tenure ranging from 1 year to 10 years.

Axis Bank FCNR(B) Interest Rates

Period of Term Deposits US $ GB £ EU € AU $ CA $ JP ¥
> 1 year - < 2 years 5.60 4.00 2.90 3.70 4.20 0.01
> 2 years - < 3 years 4.30 3.75 0.01 3.75 3.50 0.01
> 3 years - < 4 years 4.10 2.45 0.01 3.80 3.45 0.01
> 4 years - < 5 years 4.10 2.45 0.01 4.00 3.35 0.01
5 years 4.10 2.45 0.01 4.05 3.30 0.01

Axis Bank RFC Interest Rates

Period of Term Deposits US $ GB £ EU € AU $ CA $
30 days - < 3 months 0.15 0.15 0.01 0.30 0.35
3 months - < 6 months 0.25 0.25 0.01 0.30 0.35
6 months - < 12 months 0.30  0.30  0.01 0.30 0.35
> 12 months - < 2 years 5.60 5.60 2.90 3.70 4.20
> 2 years - < 3 years 4.30 4.30 0.01 3.75 3.50
> 3 years - < 4 years 4.10 4.10 0.01 3.80 3.45
> 4 years - < 5 years 4.10 4.10 0.01 4.00 3.35
5 years 4.10 4.10 0.01 4.05 3.30

Investment Plans for NRIsInvestment Plans for NRIs

Eligibility Criteria to Open Axis Bank NRI Account

Eligibility criteria for opening an Axis Bank NRI account include the following:

  • Non-Resident Indian (NRI)

  • Person of Indian Origin (PIO)

  • Overseas Citizen of India (OCI)

  • Have a valid Indian passport or PIO card

  • Have a valid residential address outside of India

Documents Required to Open Axis Bank NRI Account

The following documents are required to open an Axis Bank NRI account:

  • Valid Indian passport or PIO card

  • Valid residential address outside of India

  • PAN card (if applicable)

  • Recent passport-size photographs

  • Bank statement from your home country (if applicable)

Steps to Open Axis Bank NRI Account

Follow the steps mentioned below to open an Axis Bank NRI account online:

Step 1: Visit the Axis Bank website and go to the NRI page.

Step 2: Click on Open NRI Account & Register to open an account online.

Step 3: Complete the online application form and submit it.

Step 4: Axis Bank will review your application and contact you to schedule a video KYC session.

Step 5: Once your KYC is complete, your account will be opened.

Benefits of Axis Bank NRI Account Opening

There are many benefits to opening an Axis Bank account, such as follows:

  • Axis Bank accounts can be opened quickly and easily online or at any Axis Bank branch.

  • The bank offers a variety of convenient money transfer options, including online transfers, mobile transfers, and ATM transfers.

  • Axis Bank also offers remittance services for NRIs.

  • The bank offers competitive Axis FD interest rates on deposits and loans.

  • Axis Bank customers enjoy a variety of exclusive benefits, such as discounts on travel, shopping, and dining.

  • The bank has a reputation for providing excellent customer service.

SIP Investment for NRIsSIP Investment for NRIs

Summing It Up

Axis Bank NRI Accounts provide all-inclusive and user-friendly banking services for Non-Resident Indians. With an Axis Bank account, you get personalized services, competitive interest rates, and easy online access, which addresses the unique financial requirements of NRIs. Whether you need it for investing, sending money home from abroad, or everyday banking, the Axis Bank NRI Account is a reliable and smart choice.

FAQ's

  • What is the minimum balance for NRI in Axis?

    The minimum balance requirement for Axis Bank NRI accounts varies depending on the type of account:
    • Easy Savings Account: Rs. 10,000

    • Prime Savings Account: Rs. 25,000 or Rs. 1,00,000 term deposit

    • Mariner Account: Rs. 10,000 or Rs. 1,00,000 term deposit

    • Priority Account: Rs. 2,00,000 quarterly or minimum relationship value of Rs. 4,00,000+

  • What is the benefit of opening an NRI account with Axis Bank?

    There are many benefits to opening an NRI account with Axis Bank, including:
    • Easy access to funds: NRIs can easily access their funds in India through Axis Bank's remittance services and ATMs.

    • Convenient money management: NRIs can use Axis Bank's online and mobile banking services to manage their finances in India easily and securely.

    • Attractive interest rates on deposits: Axis Bank offers competitive interest rates on NRI deposits.

    • Exclusive benefits: Axis Bank NRI customers enjoy a variety of exclusive benefits, such as discounts on travel, shopping, and dining.

    • Strong customer service: Axis Bank has a reputation for providing excellent customer service to its NRI customers.

  • What are the types of NRI accounts in Axis Bank?

    The main types of NRI accounts offered by Axis Bank are as follows:
    • NRE (Non-Resident External) Account

    • NRO (Non-Resident Ordinary) Account

    • FCNR (Foreign Currency Non-Resident) Account

    • NRI Prime Savings Account

    • Mariner Account

    • Priority Account

    • Burgundy Account

Past 5 Year annualised returns as on 01-05-2024

^The tax benefits under Section 80C allow a deduction of up to ₹1.5 lakhs from the taxable income per year and 10(10D) tax benefits are for investments made up to ₹2.5 Lakhs/ year for policies bought after 1 Feb 2021. Tax benefits and savings are subject to changes in tax laws.

*All savings are provided by the insurer as per the IRDAI approved insurance plan.

Tax benefit is subject to changes in tax laws. Standard T&C Apply
~Source - Google Review Rating available on:- http://bit.ly/3J20bXZ

^^The information relating to mutual funds presented in this article is for educational purpose only and is not meant for sale. Investment is subject to market risks and the risk is borne by the investor. Please consult your financial advisor before planning your investments.

#The lumpsum benefit is calculated if policyholder invested ₹10000 monthly for 10 years in the fund with a policy term of 20 years. This Point To Point past performance data of last 10 years has been used to illustrate a scenario for the customers benefit. It is assumed that the past 10 years returns would have also been delivered in last 20 years. This is not guaranteed and not in anyway indicative of what the customer may actually get 20 years from now. The investment is subject to market risk and the risk is borne by the policyholder.

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