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How to Open an NRI Account from Saudi Arabia

What is an NRI Account?

NRI account is a bank account for non-resident Indians (NRIs). There are many benefits to opening an NRI account, such as no tax liability and attractive returns. In this article, you’ll learn how to open an NRI bank account in Saudi Arabia.

An NRI can open two types of accounts in India

  1. Non-Resident Rupee Account (NRE Account)
  2. Non-Resident Ordinary Account (NRO Account)

#1: NRE Account

NRE account can open in the names of two or more non-resident individuals if all account holders are persons of Indian nationality or origin. The amount held in the NRE account is freely repatriable, and you cannot send money by any other means except as remittance from abroad or transfer from another NRE account. NRE accounts may be in the form of savings, current, recurring, or fixed deposit accounts.

NRE accounts are INR accounts, which means that all of the money you deposit stays in Indian rupees. When you deposit foreign currency into this account, the receiving bank applies the current exchange rate and deposits the corresponding amount of Indian rupees.

Furthermore, interest income and balances held in NRE accounts are exempt from the Income and Wealth tax. Banks are free to determine interest rates on savings and term deposits. Banks’ interest rates on NRE deposits cannot be higher than those offered by them on comparable domestic rupee deposits.

Related: Check the Live SAR-INR Exchange Rate

#2: NRO Account

NRO accounts may also be opened or maintained in the form of rupee denominations that could be in the form of current, savings, recurring, or fixed deposit accounts. The account can be held jointly by residents. You can transfer money into an NRO account from any account – even other individuals residing in India can transfer money into an NRI’s NRO account.

Account Opening Procedure

It is now possible to open an NRI account online. The following are some of the top banks that offer online NRI accounts.

You can easily open an account by entering your personal information on the bank’s website (or by downloading the account opening form from the bank’s website). Once complete, print the page, sign it, and mail it to your local branch along with the required documents.

After the application is processed, you will receive a chequebook and ATM card at your Saudi address by courier.

Once the account is operational, you can deposit money from KSA.

Related: 7 Top Money Transfer Services in Saudi Arabia

Required Documents for Opening an NRI Account

  • Account Opening Form – Duly Filled
  • A self-attested copy of Iqama
  • Self-attested copies of the 1st and last page of your Passport  (as an address proof and ID proof) 
  • A self-attested copy of the visa page of your passport.
  • Passport Size Photograph

Banks may ask for additional documents like salary certificates or overseas address proof in some cases.


If you are living in Saudi Arabia and want to open an NRI account, there are a few things you need to know. First of all, you will need to be a resident of Saudi Arabia in order to be eligible for an NRI account. Second, the application process is fairly straightforward; all you need is your valid passport and some documentation that proves your identity and residency in Saudi Arabia. Finally, if everything goes according to plan, your new NRI account should be activated within a few weeks. So if all of this sounds like something that might be right for you, read on for more information on how to apply for an NRI account from Saudi Arabia!

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