Axis Bank NRE Salary Account - Features and Benefits
Axis Bank came is one of the leading banks in India with a growing network of more than 1760 branches across the nation. It also operates more than 10,650 ATMs across the country.
Axis Bank provides with various products like lockers, deposits, insurance, accounts, investments, loans, foreign exchange, cards etc. It also offers NRI Accounts - one of which is Non – Resident External (NRE) Salary Account.
Features and Benefits of Axis Bank NRE Salary Account
- Those organizations having minimum of 10 NRI employees can operate an Axis Bank NRI Salary Account on preferential terms.
- This account would provide you with multicity cheeque books facility.
- You will be entitled to withdraw Rs 40,000 per day.
- You will have an access to free banking from anywhere.
- You will hold an International Debit Card that would not be chargeable.
- A debit card to POA/LOA holder would also be provided without any charges.
- You will also be entitled to hold a complimentary Resident Savings Account without the compulsion of maintaining minimum balance.
- You will also receive a personal accident insurance cover of Rs 2 Lac on your debit card. This would be for both the account holder as well as POA/LOA holder but the insurance cover can only be claimed or it will become functional only when you have made your first successful payment transaction at any merchant establishment along with some other conditions.
- You will also have access to free internet banking.
- On your request you will also be entitled to free email alerts.
- You can also avail the facility of Telebanking.
- You can also have access to online bill payment facility.
- You would also be entitled to receive monthly statement of your account on your email id.
- You would get assistance in order to obtain Income Tax Pan Card that would help you to get compliant with the Indian tax regulations.
- You will also be able to avail the facility of free Demand Draft drawn on Axis Bank Branches.
Eligibility Criteria for Axis Bank NRE Salary Account – Following are the persons who are NOT allowed to open an NRI account with Axis Bank. They are-
- All those Residents who are traveling overseas for medical check up or health issues, or
- Residents who are traveling abroad for a tour visit or in order to promote their business or on excursion, or
- Those Residents who are residing in Pakistan or Bangladesh without the prior approval of Reserve Bank of India (RBI), or
- Those Residents who are residing in Bhutan or Nepal, or
- Seafarers who have been employed by the shipping companies of India.
Documentation for Opening NRE Salary Account in Axis Bank – If you wish to open an NRE Salary account in Axis Bank you will be required to produce following documents –
For NRI Salary Account
- A copy of your current passport along with identity details, date and place or birth, passport details and signature appear
- A copy of your valid work permit or employment visa.
- Your Employment Letter
- A letter from your employer that confirms direct credit of salary to the account.
NRI or PIO Account for Non-Resident Indian (NRI)
- A copy of your current passport along with identity details, date and place or birth, passport details and signature appear
- A copy of your valid work permit or employment visa.
For Person of Indian Origin (PIO)
- A copy of your current passport along with identity details, date and place or birth, passport details and signature appear
- A copy of self declaration of PIO or PIO Card.
Note – If you have downloaded the account opening form from the official website and are sending it to India then the document needs to be attested. Your banker abroad or the Indian Embassy or notary or equivalent authorities, as per the applicable law, are entitled to do the attestation for you.
For Address Proof
- Rent Receipt
- Overseas or Indian Bank Statement
- Utility Bill
- Residence Permit (Govt. Issued Identity Card)
- Credit Card Bills
- Driving License
How To Apply
If you wish to open an NRI Salary Account with Axis Bank you can –
- Opt for Quick Apply - Visit the official website and click on Quick Apply. A window will open that will ask you to fill in your name, email id and mobile number. Once you do this you will receive a call or a mail from Axis Bank explaining the features of the product and how to proceed.
- Log A Query – While you opt for this you will receive assistance through online submission of your request or through toll free phone banking center.
- Visit Us – By this you will have the list of nearest branches of Axis Bank and you may personally visit any of the branches for assistance on the same.
Contributed By: Megha Sharma |
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Megha Sharma works as a guest lecturer in Delhi. She holds an MBA & Doctorate from the UPTU. With extensive knowledge and experience in various financial products, she also works as a consultant in banking & finance domains wherein she offers advice to her clients in managing personal finance. | |
- Renjith Raveendran:How to open NRI Account30-Jul-2016 09:49 PMReply
