Which Banks Offer the Best NRI Banking Services?

I use ICICI and have generally found its NRI banking setup convenient, particularly because I wanted banking and investments in the same ecosystem.

Their NRI offering includes separate NRE and NRO accounts, a 3-in-1 account for eligible investment activity, digital banking and international remittance services.

But I'd still compare the actual fees and terms before opening anything.

HDFC also has a fairly broad NRI product range, including NRE/NRO accounts, FCNR deposits, loans, investments and online service requests.

One thing I would definitely check is whether the services you need can be completed remotely. Some banks allow certain requests by email or courier, while others may require a branch visit or additional document verification.

If you're choosing a bank before leaving India, make a list of the transactions you'll actually perform every month and compare the banks against that list.

I went with SBI because I wanted a large branch network in India and already had several family-related banking arrangements there.

SBI's NRI offering includes NRE, NRO and FCNR(B) accounts, and its current NRI information also provides for opening accounts while living abroad through its prescribed application and KYC process.

One advantage of an established bank is that you may already have branches in the city where your family lives, which can matter if something eventually requires physical assistance.

That said, I wouldn't choose purely based on branch count. If most of your banking is going to happen from another country, check how well the bank handles online service requests, international contact numbers, remittances and account documentation.

Also check the charges carefully. A bank can look convenient until you start making frequent international transfers or maintaining multiple accounts.

I don't think there is one NRI bank that works best for everyone.

I’ve used a large private-sector bank mainly because I already had a relationship with them before moving abroad. That made the transition easier because my existing records and investments were already there.

For me, the most useful things have been online banking, being able to communicate with the NRI support team from overseas, and having both NRE and NRO facilities under the same relationship.

I would also look at the process for converting an existing resident account to NRO. That's something people don't always consider when comparing banks.

For example, HDFC currently lists resident-account-to-NRO conversion among its NRI service requests and provides branch, courier/mail and registered-email channels depending on the request.

I'd compare the actual service channels rather than choosing a bank based only on advertised interest rates.