Indian Bank NRI SB/CA ACCOUNT OPENING FORM DOWNLOAD

The Indian Bank Non-Resident Account Opening Form is a comprehensive document structured into multiple parts to onboard new Non-Resident Indian (NRI), Person of Indian Origin (PIO), and Overseas Citizen of India (OCI) customers, or to transition existing resident accounts to non-resident status (p. 1).

Here are the key points extracted from the form structure, account features, declarations, and mandatory compliance guidelines:

The form is designed modularly so customers only fill out the parts relevant to their needs (p. 1):

• Part A: Basic Account Details and Mode of Operation (p. 1).
• Part A1: Nomination Form (Form DA 1) (p. 2).
• Part B: Channel Facilities (Passbook, Cheque, ATM/Debit Card, Net/Mobile banking) (p. 2).
• Part C: Customer Information Form (CIF) for the Sole/Primary Applicant (p. 3).
• Part C1: CIF for the Joint Applicant (p. 4).
• Part D: Mandatory Declarations (FATCA-CRS, PIO/OCI status, and Resident Account conversion) (p. 5).
• Form 60 & Special Declarations: Form 60 for applicants without a PAN, alongside specific declarations for Minors and Mariners (p. 6).

• NRE vs. NRO: The form supports opening Non-Resident External (NRE) or Non-Resident Ordinary (NRO) Savings and Current accounts, as well as Special Non-Resident Rupee (SNRR) accounts (p. 1).
• Joint Accounts with Residents: Joint accounts between an NRI and an Indian Resident are strictly permitted only on a “Former or Survivor” basis (p. 1). The resident relative can only operate the account as a Power of Attorney (POA) holder during the NRI’s lifetime (pp. 6-7).
• Nationality-Based Restrictions: Accounts for individuals of Pakistani nationality require prior RBI approval (p. 6). For individuals of Bangladesh nationality, banks can open NRO accounts without prior RBI approval (p. 6).
• Temporary Foreign Nationals: NRO Savings accounts for foreign nationals on short visits are restricted to a validity of 6 months or the expiry of their visa, whichever is earlier (p. 7).

• FATCA-CRS Declaration: Mandatory tax residency self-certification detailing the applicant’s country of tax residence and Tax Identification Number (TIN) (p. 5).
• Taxation on Interest:
  • Interest earned on NRE accounts is tax-free in India (No TDS applies) (p. 8).
  • Interest earned on NRO accounts is fully taxable, and Tax Deducted at Source (TDS) is subtracted at applicable rates without any basic exemption limit (p. 8).

• Account Conversion: Includes a specific section to request the transition of existing domestic resident accounts into NRO accounts (p. 5). Any linked international resident debit cards are immediately hotlisted upon conversion (p. 5).

• Commercial Restriction: NRI Savings accounts are exclusively meant for routing personal transactions. The bank reserves the right to freeze accounts showing dubious commercial activities (p. 7).
• Inoperative Status: If an account goes without a customer-induced transaction for 2 years or more, it automatically turns “Inoperative,” requiring a re-KYC process to reactivate (p. 7).
• E-Mail Operations: Customers can register their email ID for standard requests (such as stop payments or balance statements) (p. 6). Scanned requests are processed only if sent from the registered email address and the signature matches bank records (p. 6).

• For NRIs: Current passport copies, valid work permits/employment visas, and proof of both Indian and overseas addresses (p. 9).
• For Mariners: Passport copies, a valid Continuous Discharge Certificate (CDC), a copy of the latest contract letter, and a recent payslip (under 6 months old) (p. 9).
• Non-Face-to-Face Submissions: If the customer cannot visit the branch physically, original signed forms can be mailed with self-certified KYC documents (p. 9). However, the signature and documents must be attested by an Indian Embassy/Consulate, an authorized official of an overseas branch of an Indian Scheduled Commercial Bank, a Correspondent Bank of Indian Bank, or a Notary Public (p. 9).

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