Unlocking financial opportunities : NRI bank account benefits explained

Technological advancements have made all kinds of financial transactions accessible to people worldwide, allowing them to buy or invest in assets located in different parts of the world. As a result, Non-Residential Indians (NRIs) expect more from their banking services, seeking greater control over their funds, expenses, income, and liabilities in India. With modern NRI account benefits, these preferences are now possible, and NRIs no longer need to pay an exorbitant amount each time they remit money or make a payment. Additionally, financial globalisation has enabled NRIs to invest in India that were once out of reach. NRI banking has made it easy for them to ensure NRI tax benefits like better fund management, higher interest rates, NRI investment options, and other financial opportunities. 

Are you aware of the NRI account benefits you can avail yourself of as a non-resident? Read on to learn more about NRI banking facilities in India. 

Also read - NRI outward remittance: How to send money home without commissions?

Financial opportunities for NRI - NRI account benefits
 

NRI bank accounts help NRIs in many ways. Here are some of the key NRI account benefits -

• Global access to funds –

Your NRI bank account comes with internet and mobile banking options. These make banking services available and accessible from anywhere. NRIs can now use their mobile banking app to transfer money, monitor transactions, make investments, and avail of all banking services, even from halfway across the world.

• NRI account benefits on taxation –

NRIs can maintain an NRE bank account or an FCNR account to enjoy tax exemptions. The interest earned on deposits maintained on these accounts is exempt from income tax in India. 

• NRI investment opportunities –

India is one of the fastest-growing economies. NRIs can emulate Foreign Institutional Investors (FII) and invest in the India growth story. Apart from stocks and mutual funds, an NRI can earn high-interest income on savings account balances and fixed deposits. 

• Repatriation facilities –

NRI account benefits also include the ease of remittances through an NRI savings account. There are some restrictions on remittances made from an NRO account. However, it is easier and more convenient to receive and transfer overseas money through NRE and FCNR accounts as they are fully and freely repatriable

• 24X7 banking services –

NRI banking services include 24X7 access to the bank’s customer support through helpline numbers, apps, email, etc. 

• Fund storage option –

NRI banking offers the option of safe fund storage in India with easy access from overseas. It is a better option than stowing your funds in India in cash or other low-interest-bearing options. Such funds can be held in an NRI savings account jointly as well. An NRI can hold the account with a resident or non-resident on a former or survivor basis.

• Indian transactions –

NRI account benefits also include the ease with which NRIs can carry out transactions in India. For instance, an NRI may receive rental income or income from investments. Such incomes can be directly received in the NRO savings account. The NRI can also make payments in India, like utility bills and rents, through the NRO savings account.

Metra Trust NRI Banking services
 

Metra Trust offers several standout NRI account benefits that make it a popular choice among non-residents -

• Up to 7.25% interest per annum, monthly credits to NRI Savings Accounts
• All commonly used savings account services offered free of cost
• Fast and efficient transfers in 13 global currencies
• Banking can be carried out through the bank’s online platform at any time of the day 
• No processing fees charged for NRI Banking
• Effortless investment with the Metra Trust Portfolio Investment Scheme Account (PIS)
• Dedicated relationship manager available 24X7
• Account options available for NRIs - NRE Savings Account, NRO Savings Account or Seafarers Account
• NRE account holders can also apply for the FIRST WOW! Credit Card packed with amazing features

Also read - Discover Metra Trust NRI Banking Service under 3 minutes!

​​Banking across seven seas
 

NRI banking facilities and services are an essential part of an NRI’s financial planning. With its attractive NRI account benefits, the bank acts as a one-stop shop for the person’s India-related financial necessities and obligations. With a few clicks on the Metra Trust Mobile Banking app, an NRI can manage their savings account, send and receive money at the best exchange rates, enjoy one of the best interest rates on savings and deposit accounts, and also get access to lucrative NRI investment opportunities. Check out the Metra Trust NRI Account benefits today!