Set up an NRO Account in India.
Once you open an NRE account, it is also advisable to open an NRO account, as all the rental incomes etc. you can deposit in this account from India, where as in an NRE account you can only deposit external funds which you can only send from outside India.
NRO Account enables you to manage your income generated in India, be it rent income or dividend warrants, with ease and convenience.
What’s more, you can also send money into this account from overseas to manage your payment commitments in Indian Rupees.
You can open a NRO Account as either a savings or a current account and it can even be opened jointly with a Resident Indian.
Features & Benefits
This account offers you a host of exciting inbuilt features and benefits that let you:
Send money home Free+: Send money home to your family and friends in India, absolutely free. Meet your personal commitments such as loan repayments and other expenses!
Manage your Rupee payments easily through Internet Banking - place an online request for free funds transfer to 3rd party accounts in India or choose the free Rupee Draft Delivery
You can also transfer funds to 3rd party accounts in India through RTGS at a charge of INR 250 (plus applicable taxes) per instruction which can be submitted vide duly filled RTGS form, at any HSBC branches in India or an NRI Centre in the country of your residence. RTGS done through Internet Banking would be charged at INR 50 (plus applicable taxes) per instruction. Click here to download the RTGS form.
Withdraw cash at over 23,500 HSBC/Visa/Plus ATMs and shop at over 3,50,000 merchants in India with a Debit Card
You can also avail the Standing Instructions facility to manage your monthly payments
Get anytime, anywhere account access: Track, access and operate your account from across the world, 24/7 through Internet Banking and Phone Banking
MINIMUM DEPOSIT - NRO Savings Account INR 10,000