Axis Bank NRI Account: All you need to know

Aman Saxena

Axis Bank offers options for NRI accounts- whether you are an Indian resident planning on going abroad, currently living abroad, and even if you are NRI thinking of coming back to India.

Learn more about the different account options for NRIs with Axis bank.

📝 Table of contents

Axis Bank provides a full list of services for NRIs. This includes:

  • Accounts
  • Loans
  • Deposits
  • Insurance
  • Investments

Let’s look closer at the NRI accounts you can open at Axis Bank. The NRI accounts fall into 2 categories, NRO and NRE.

Here is a handy table on the difference between these accounts:

NRO AccountNRE Account
Full-formNon-Resident Ordinary AccountNon-Resident External Account
What is it forTo manage dividends, pension or income in IndiaTo keep income earned in a foreign currency with an option to repatriate to India
Origin of earningsIncome in indiaIncome abroad
BenefitsParents or relatives can accessTax free Interest

If you want to know more about NRI accounts, read our guide to NRE & NRO Accounts.

Axis Bank offers options for NRI accounts whether you choose NRE or NRO¹:

  • Easy Savings Account: an easy to manage account with internet and mobile banking
  • NRI Prime Savings Account: a savings account that also allows for family banking facilities
  • Mariner Account: an account that gives you preferred rates for remittances and complimentary airport access
  • Priority Account: you get a dedicated relationship manager and benefits that can be valued up to ₹50,000
  • Burgundy Account: a premium account with a dedicated relationship manager and complimentary airport access, uber and movie vouchers

How to open an NRI account in Axis Bank

You can open an NRI account online with Axis Bank. You can start by registering online on the Axis Bank website and providing your contact information.

An Axis bank representative will then reach out to you by the given number or email to answer any queries and help you take the next steps.

Axis Bank NRI account opening online

If you are thinking of opening an NRI account with Axis Bank, here is the 4 step process²:

  1. Gather your passport and complete the online application
  2. Print out the application and sign the designed places
  3. Upload the application and the required documents
  4. You will be contacted by Axis Bank to complete the verification process successfully

You may be asked for additional documents and KYC verification depending on the nature of your application and the account you are looking to open.

You can also speak in detail with an Axis bank representative on ways to expand your banking relationship with Axis.

Axis Bank NRI account opening documents

Having your documents in order is a key part to successfully opening an NRI account. Make sure you have the following documents scanned and ready for your application³:

  • Proof of Identity
  • Proof of NRI status
  • Proof of an Indian address or address abroad
  • Passport size color photographs

Axis Bank provides a detailed list of the approved documents that qualify for NRIs and for current PIO or OCI holders.

Axis Bank NRI account minimum balance

Maintaining the designated minimum balance is an easy way to avoid fees with your Axis bank NRI accounts.

Here is a quick table on the minimum balance needed to maintain an Axis bank NRI account without having to pay additional minimum balance fees⁴:

Type of Axis Bank NRI AccountMonthly Minimum Balance
Easy Savings Account₹10,000
Prime Savings Account₹25,000 or ₹1,00,000 term deposit
Mariner Account₹10,000 or ₹1,00,000 term deposit
Priority Account₹2,00,000 quarterly or minimum relationship value of ₹4,00,000+
Burgundy Account₹10,00,000 quarterly or minimum relationship value of ₹30,00,000

There are ways to avoid paying maintenance fees through deepening your banking relationship with Axis bank or receiving salaries into the account. Check with an Axis bank representative to learn more.

You can find additional details on the fees and charges for each NRI account online, under the specific account page.

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Interest rates for Axis Bank NRI account

Axis Bank offers interest rates on their NRI fixed deposit (FD) accounts.
Here is a sample of what you can expect for NRI FDs at less than a ₹2 crore deposit. But be sure to check the rates at your time of opening an account as they may vary⁵.

Axis Bank NRI FD AccountInterest Rates
NRE Fixed Deposit Account for up to 1 year5.10%
NRE Fixed Deposit Account for 2 years5.40%
NRO Fixed Deposit Account for 6 mos.4.40%
NRO Fixed Deposit Account for 1 year5.10%
NRO Fixed Deposit Account for 2 years5.40%

as of June 6th, 2021

The interest rate you receive can vary also depending on the type of banking relationship you have with Axis Bank. It is best to speak directly with an Axis Bank representative to get details on the interest rate you can expect.

Axis Bank also has additional Fixed Deposits that you can hold in foreign currencies or cover for Indian rupee conversion rates as well.

Axis Bank NRI account benefits

NRI accounts are a great way to manage your finances in India while you are away, and also help plan for an eventual return.

⚠️ Your savings account in India should be switched to an NRI account if your residence changes to outside the country

Axis Bank can help make this process easy and smooth with their online services. Axis Bank offers a range of NRI accounts so you can find the one that best fits your needs.

Whether you want just a simple account to access online from abroad, or all the way to a dedicated relationship manager who oversees your account.

There are additional perks and benefits with opening an Axis Bank NRI account. Check out a few of them below⁶:

Easy Savings AccountPrime Savings AccountMariner Savings AccountPriority AccountBurgundy Account
Air Accident CoverageAir Accident CoveragePersonal Accident Insurance CoverageDedicated Relationship ManagerDedicated Relationship Manager
Personal Accident Insurance CoveragePersonal Accident Insurance CoveragePreferred rates on remittancesAnnual benefits valued at ₹50,000Free movie tickets
Complimentary airport lounge accessComplimentary airport lounge accessComplimentary airport lounge access
25% discount on movie tickets25% discount on movie ticketsFree Uber vouchers

Ask your Axis Bank representative on other benefits you can receive with an Axis Bank relationship.

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Axis Bank NRI account customer care

Axis Bank has specialized customer care for NRI accounts. You can go access it through the Axis Bank website where you can chat with NRI customer care 24/7.

The Axis Bank website will also provide you with links to contact by email, troubleshoot with FAQs, or submit a query.

Or if you are in India, you can find the nearest Axis bank to you to chat with a branch representative.

Sources used for this article:

  1. Axis Bank NRI Accounts
  2. Opening an Account
  3. Account opening Documents
  4. Minimum balance requirements
  5. Interest Rates for Axis Bank
  6. Benefits of NRI Account

All sources checked as of 9 August 2021

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This publication is provided for general information purposes and does not constitute legal, tax or other professional advice from Wise Payments Limited or its subsidiaries and its affiliates, and it is not intended as a substitute for obtaining advice from a financial advisor or any other professional.

We make no representations, warranties or guarantees, whether expressed or implied, that the content in the publication is accurate, complete or up to date.

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