IDFC FIRST Bank NRI Account: Account Opening Questions

I'm based in the US and had a similar question about certification.

The important distinction is whether your documents are being verified by an IDFC FIRST Bank employee. If they're not, the bank's current guidance says the passport and address-proof copies should be certified by an accepted authority in the overseas country.

The list includes an overseas bank with an appropriate Indian-bank relationship, an overseas branch of an Indian bank, a Notary Public, Court Magistrate/Judge, or the Indian Embassy/Consulate.

So I wouldn't automatically assume that only the Indian Consulate can do it.

I would first check the latest checklist for your country and application route.

Also, don't forget the tax-residency information. IDFC FIRST Bank's NRI documentation includes PAN/Form 60 and FATCA-related information, and the bank's newer NRI page also refers to foreign tax identification information.

For US residents especially, I'd make sure the FATCA details are completed accurately.

My experience was that having all of this ready in advance made the application much smoother than submitting the basic passport details first and then waiting for requests for additional documents.

I think you should first decide whether you actually need NRE, NRO or both.

I initially applied for only an NRO account because I had income coming from India. Later I realised that I also wanted an NRE account for funds coming from my overseas earnings.

IDFC FIRST Bank's current online account-opening process allows an applicant to select NRE, NRO or both, so you don't necessarily have to treat them as mutually exclusive choices.

The distinction is basically about what you're using the account for.

An NRO account is useful for managing legitimate India-related income and transactions. An NRE account is generally used for eligible overseas funds maintained in India.

If you have both overseas income and Indian-source income, having both can make record keeping easier.

I would also check the bank's current minimum balance, transaction charges, debit-card terms and repatriation rules before choosing.

One other point: if you're already an IDFC FIRST Bank customer and your residential status has changed from resident to non-resident, don't simply open another account and ignore the existing resident account.

The bank has a specific resident-to-NRO redesignation process. Its current conversion form asks customers to declare their NRI status and provide supporting KYC documents.

I went through the IDFC FIRST NRI account-opening process from overseas and the online option was useful, but I would prepare the documents before starting.

The bank's current NRI information says you can open an account online while overseas. You provide your details, upload the required KYC documents and the account is opened after successful verification. There is also a branch route if you're in India.

The basic documents I would have ready are:

• Passport
• Visa/residence permit or other proof of non-resident status
• Overseas address proof
• PAN
• Recent photograph
• Signature image for an online application

IDFC FIRST Bank specifically lists documents such as a foreign driving licence, government ID, utility bill, bank statement or resident permit as possible overseas address proof.

In my case, the biggest thing was making sure the name and address were consistent across the documents.

I would also not assume that uploading a scan means the process is finished. If the application is being handled without meeting a bank employee, IDFC FIRST Bank says passport and address-proof copies need to be certified by an accepted authority in the country of residence.

So check that requirement before paying a notary or sending documents.