Discover IDFC FIRST Bank NRI banking service under 3 minutes!

Did you know that as of September 2025, nearly 3.4[SN1] 3 crore Indians live overseas? This includes about 1.71 crore Non-Resident Indians (NRIs) and nearly 1.71 crore Persons of Indian Origin (PIOs). If you are among them – whether you are chasing your dreams, pursuing higher education, or seeking better opportunities – you need a dependable and hassle-free NRI banking solution to manage your finances. 

Here, an NRI account is the key to achieving peace of mind. It allows you to manage your funds seamlessly while staying connected to your roots. And when choosing the right NRI banking service, IDFC FIRST Bank could be a great option to consider. Let’s understand why.

What are the options for NRI accounts with IDFC FIRST Bank?

IDFC FIRST Bank offers the following NRI bank accounts to facilitate smooth financial transactions for those living abroad:

• Non-Resident External (NRE) 

An NRE account could be ideal if your income comes from outside India. The principal as well as the interest are fully repatriable, which means you can transfer the funds back abroad without restrictions. Interest earned on NRE deposits is also exempt from tax in India. 

• Non-Resident Ordinary (NRO) 

NRO accounts are designed for managing income earned in India, such as rent, dividends, etc. and are maintained in Indian rupees. These accounts allow you to remit funds abroad within prescribed limits, currently up to USD 1 million per financial year with proper documentation. While the principal amount is repatriable up to USD 1 million in a financial year, interest earned is fully repatriable after-tax deduction. 

What NRI deposits does IDFC FIRST Bank offer?

With IDFC FIRST Bank, you can choose from various NRI deposit options to maximise your returns. These include:

• NRE fixed deposits 
 

NRE fixed deposits allow you to park foreign income in India. These accounts offer best-in-class interest rates, full tax exemption on the interest earned, and unrestricted repatriation of both principal and interest. With tenures ranging from 1 to 10 years, you enjoy competitive returns and multiple payout choices.

• NRO fixed deposits

Designed for earnings generated in India, NRO fixed deposits let you deposit income from sources such as rent, dividends, or pension. These accounts also offer good interest rates, flexible tenure (from 7 days to 10 years), and the ability to repatriate up to $1 million or equivalent per financial year for bonafide purposes (For e.g. education, medical expenses, employment etc.) with documentation. As per current guidelines, the principal amount in NRO deposit is exempt from taxes in India. However, the interest earned will be subject to a tax of 30% (plus applicable surcharge and cess).

• Foreign Currency Non-Resident (FCNR) deposits 
 

FCNR deposits offer a safe haven against currency risk by letting you invest in foreign currencies like USD, GBP, EUR, SGD, and AUD. The full deposit, including interest, is maintained and repatriable in the same currency, which means you get full protection from rupee volatility. Tenures range from 1 to 5 years, and interest accrual is tax free in India.

Why IDFC FIRST Bank?

An IDFC FIRST Bank NRI savings account has the following distinctive features -

• Competitive interest rates
 

Attractive interest rates for these NRI accounts help grow your savings. The interest is credited monthly. This frequent compounding lets your savings grow faster and helps you achieve financial goals for retirement, property, or family support with steadily increasing returns.

• Forex services

Access a user-friendly online platform for outward remittances that is available 24*7. You can avail of zero Processing Fee and competitive exchange rates on remittances

• Joint account facility

 You can manage joint ownership with other NRIs or resident Indian (in Former or Survivor mode only for resident joint holder) . It meets family as well as business demands by offering the convenience of shared control over account operations.

• Instant PIS facility 

IDFC FIRST Bank offers an instant Portfolio Investment Scheme (PIS) facility for investing in the Indian stock market. You can access your PIS account anytime, anywhere, download PIS reports in only one click, and enjoy no minimum balance requirement.

Experience seamless NRI banking services digitally with IDFC FIRST Bank

You can experience the convenience of online NRI banking through:

• Several digital platforms, such as the IDFC FIRST Bank Mobile App, SMS banking, net banking, and Internet banking

• Personal banking services, which include Dedicated Relationship Manager

• 24X7 accessibility so you can easily open accounts, transfer funds, and track transactions online at any time

How do I get started?

To open an IDFC FIRST Bank NRI savings account, visit the official website and select 'Apply Now' in the NRI banking section. Enter your contact details, fill in the application form, and complete all the formalities online.

You may also contact the dedicated NRI banking division for assistance. After your documents get verified, your account will be opened, and you can begin using its features.

Conclusion

Choosing the right NRI banking partner makes all the difference when managing money across borders. With IDFC FIRST Bank NRI savings accounts, you get a secure and seamless banking experience that brings your global and Indian finances together. From tax-free savings options and attractive deposit options to easy remittances and strong digital support, the services are built to match the needs of NRIs worldwide. 

Backed by dedicated customer care and a wide range of financial products, IDFC FIRST Bank NRI savings accounts keep your banking experience simple, transparent, and rewarding. 

Apply today!