5 Things to Check Out While Selecting an NRO Account to Operate from the UK

Are you an NRI residing in the UK? Or are you migrating to the UK? Make sure to consider these top 5 things, while opening a non-resident ordinary account to manage your income in India in the UK.

Have you attained NRI status recently? Here is the easiest way to access and operate the investments you have made in India. All you need to do is convert your savings account in India to a Non-Resident Ordinary account. Also known as an NRO account, this is a savings account that is available exclusively for NRIs.

The non-resident ordinary account – can receive foreign remittances (you can deposit funds in it directly from the UK). It allows you to have a joint account holder who can be an NRI or a resident Indian, and also allows you to transfer your funds in India to the UK.


Non-resident Indians are not permitted to open and operate regular savings bank accounts in India. You are required by law to convert your regular bank account into an NRO/NRE/FCNR account. To do so, you have to provide documentary proof that you hold NRI status. Usually, most banks require you to submit your visa details.

All NRIs, irrespective of where they reside in the world can open an ordinary non-resident account in India.

Documents Required:

To convert your regular savings bank account into a non-resident ordinary account, you have to provide the following documents:

  • Proof of identity
  • NRI status proof
  • Proof of your foreign resident address
  • And two recent passport size photographs

Now, that we’ve sorted out the basics, let’s take a look at a few factors you have to consider while opening a non-resident ordinary account:

  • Minimum Balance Requirement

This varies from one bank to another. Look for a bank that requires you to hold a minimum monthly average balance, so that a bulk of your Indian earnings does not get tied up in the account.

  • Ease of Money Transfers

Choose a bank that allows you to transfer your funds from India to the UK easily. Today, most banks offer transfer facilities online, or via mobile banking. According to the RBI rules, the interest earned in your non-resident ordinary bank account is fully repatriable to the UK, after-tax deduction at source.

  • Higher Interest Rates

Make sure to check the interest rates offered by different banks for NRO account. The higher the interest rate, the more is your savings. Most banks usually pay the interest rates half yearly in March and September.

  • Joint Access

You can operate your non-resident account jointly with another NRI (your spouse or children) or with a resident Indian. Look for banks that offer an ATM card along with the account. This way, you can give this card to a trusted family member, providing them with access to your account, on your behalf.

  • Ease of Access

Finally, while choosing your banking partner, make sure to consider the convenience factor. Look for banks that have a nation-wide network of ATMs, and other easy-access facilities like internet banking, phone banking, and SMS banking.

A Non-Resident Ordinary account helps you deposit and manage your earnings in India – like investment dividends, rental incomes, and more. Make sure to consider the five factors listed here while opening an NRO account and manage your rupee earnings smartly, while you reside in the UK.