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Banking in India

Best banks in India for expats & digital nomads

Opening a bank account is one of the first things you do after moving to India. Here are the accounts that work for newcomers and non-residents, plus the fintech we would set up before you fly.

How to open a bank account in India

Foreigners resident in India on a long-term/employment visa can open a resident account after FRRO registration, with a PAN card, passport, visa and proof of address; NRIs use NRE/NRO accounts. Tourists cannot open accounts.

Top banks in India

State Bank of India (SBI)

traditional
Largest / NRE-NRO accounts

Biggest bank; extensive NRI (NRE/NRO) account services.

HDFC Bank

traditional
Best private bank / app

Leading private bank with strong digital banking.

ICICI Bank

traditional
NRI services

Strong non-resident and remittance products.

Axis Bank

traditional
Full-service private

Large private bank (absorbed Citi's India retail).

Kotak Mahindra Bank

traditional
Digital onboarding

Kotak 811 digital savings account.

HSBC India

traditional
Expats / global relocators

International bank; useful for those moving with global HSBC relationships.

International accounts & neobanks

Wise

Send from India and hold money when travelling overseas; India-side holding is restricted (RBI rules) and INR can be received only from Indian residents.

Revolut

India is a beta prepaid-payments product on an RBI PPI licence (UPI + international transfers), not yet a full bank account.

Payoneer

Very widely used by Indian freelancers/exporters to receive international payments.

Availability changes; confirm on each provider's site.

Next steps in India

See the full India tax, cost and visa profile, or compare India with other destinations. Not sure where to go yet? Take the finder quiz.