How to Open NRI Bank Account from Saudi Arabia

Saudi Arabia has millions of expatriates who have come from different countries. People leave their homes and settle here looking for a better career and a more comfortable life.

NRI Bank Account from Saudi Arabia:

NRI BANK ACCOUNTS
Saudi Arabia has millions of expatriates who have come from different countries. People leave their homes and settle here looking for a better career and a more comfortable life. Expatriates work in government as well as private sector. They not only earn money for themselves but also make revenue for their home countries as well.

Expatriates look for ways to save and keep their money with themselves as well as back home, which they can easily use when they need it. People belonging to India can open an NRI bank account from Saudi Arabia. Banks in India facilitate their nationals overseas to manage their finances while being out of the country. Indian expatriates can make use of this facility as it allows them easily accessible and smooth channel to remit money and also manage their savings back home. This way people can send money directly to these accounts. 


There are three types of NRI accounts available in the banks:
1.     Non-resident external account.
2.     Non-resident ordinary account.
3.     Foreign currency non-resident.
Non-resident external Account / NRE:
NRE stands for Non-Resident external. This account is absolutely tax-free and can be opened by non-resident Indians. The account holder also has the liberty to choose from the three available options: current account, saving account and term deposit of fixed account. The capital is saved in the account in terms of Indian Rupees. Most of the times, this type of account is used to save the money which is earned overseas and is remitted to India in the form of Indian Rupees.
Non-resident Ordinary Account / NRO:
This option is suitable for the people who are not currently residing in India and want to manage their local income, like house rent or may be dividend etc. the account balance in this type of account is also maintained in the form of Indian Rupees. This account also has the three options of current, saving or the fixed deposit types available. The only drawback in this account is that the amount in this account is subject to taxation as per the rate that applies.
Foreign currency non-resident bank account / FCNR:
Only the non-resident Indians can take advantage of this facility and open a foreign currency non-resident bank account. This kind of account is also exempted from taxes. The account holder has the liberty to choose the currency from his own free will to keep his money, for instance, dollars, pounds, riyals etc. the account holder can either opt for a fixed deposit or a term deposit account. Mostly, people use foreign currency accounts to save their money for a limited period of time like a year to four or five years.
The tax free accounts are the best options. All these accounts are convenient for expatriates as you can remit money directly to your account in India from any other country in the world at any time. The banks provide their customers the services round the clock and the maximum time taken for transactions is most likely a day in most cases.
Required documents to open account:
1.     Resident ID card known as Iqama.
2.     Visa copy.
3.     Company Letter.
4.     Salary slip.
5.     Home country Resident ID known as english card.

COMMENTS

BLOGGER: 6
  1. need to open nri or nro bank account please contact me 0536315090

    ReplyDelete
  2. agar kisi indian bhai ko nri ya nro bank account open karwana ho to mujhe iss number per contact kare 0536315090...

    ReplyDelete
    Replies
    1. Hi is this your mobile number or whatsapp number, what is the country code

      Delete
  3. I m here at Dammam i want open nre account any 1 help me

    ReplyDelete
    Replies
    1. +966570567185 WhatsApp me for nri account in Saudi Arabia. Yes Bank only

      Delete
  4. Dear,

    I need to Open NRI account in Icici bank or Axis from Riyadh Saudi Arabia

    can any body help me

    ReplyDelete

Name

iqama,1,Money-Transfer,2,News,5,saudi-labor-law,4,Visa,1,
ltr
item
Expatriates Riyadh: How to Open NRI Bank Account from Saudi Arabia
How to Open NRI Bank Account from Saudi Arabia
Saudi Arabia has millions of expatriates who have come from different countries. People leave their homes and settle here looking for a better career and a more comfortable life.
https://1.bp.blogspot.com/-xYJrD1AyAPU/Xb3kJ00CdeI/AAAAAAAADE0/ddgGTe21DqAVkalNDiLpswpZitU41KNxACEwYBhgL/s320/nri.jpg
https://1.bp.blogspot.com/-xYJrD1AyAPU/Xb3kJ00CdeI/AAAAAAAADE0/ddgGTe21DqAVkalNDiLpswpZitU41KNxACEwYBhgL/s72-c/nri.jpg
Expatriates Riyadh
https://www.expatriatesriyadh.com/2016/01/what-is-nre-account.html
https://www.expatriatesriyadh.com/
https://www.expatriatesriyadh.com/
https://www.expatriatesriyadh.com/2016/01/what-is-nre-account.html
true
2426269934155146291
UTF-8
Loaded All Posts Not found any posts VIEW ALL Readmore Reply Cancel reply Delete By Home PAGES POSTS View All RECOMMENDED FOR YOU LABEL ARCHIVE SEARCH ALL POSTS Not found any post match with your request Back Home Sunday Monday Tuesday Wednesday Thursday Friday Saturday Sun Mon Tue Wed Thu Fri Sat January February March April May June July August September October November December Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec just now 1 minute ago $$1$$ minutes ago 1 hour ago $$1$$ hours ago Yesterday $$1$$ days ago $$1$$ weeks ago more than 5 weeks ago Followers Follow THIS PREMIUM CONTENT IS LOCKED STEP 1: Share to a social network STEP 2: Click the link on your social network Copy All Code Select All Code All codes were copied to your clipboard Can not copy the codes / texts, please press [CTRL]+[C] (or CMD+C with Mac) to copy