Your full guide to Yes Bank NRI accounts

Aman Saxena

Yes Bank offers services for Indians who reside outside the country most of the year. Under the umbrella of NRI Banking- Yes Bank offers accounts, deposits, loans and more.

Let’s take a deeper look into the NRI bank accounts you can open with Yes Bank.

📝 Table of contents

Non Resident Indians are Indian citizens who live outside of India more than 182 days a year. Overseas Citizens of India, or OCI for short, can also open NRI accounts, but check each bank’s eligibility criteria.

Yes Bank offers savings accounts for Non Resident Indians (NRI), including Indian mariners.

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Types of Yes Bank NRI accounts

There are 2 main types of NRI accounts- NRE and NRO.

NRE stands for Non Resident External, and is funded with foreign earned income.
NRO stands for Non Resident Ordinary which is for income earned within India and can be jointly owned with an Indian resident.

🔖 Read more: Full guide to NRI accounts

Anyone that is residing primarily overseas will need to change their regular savings and checking accounts to NRE or NRO accounts. This also includes Indian students who are shifting abroad to study.

Yes Bank offers both NRE and NRO savings accounts and a mariner’s account. Here is a quick rundown:¹

Type of Account Description
Non Resident External (NRE) Savings Account A savings account that lets you hold foreign income and repatriate it to India
Non Resident Ordinary (NRO) Savings Account For income like rent, dividend or pensions earned in India and it comes with a debit card
Seafarer Savings Account An account specially for mariners with a zero balance minimum

There are additional accounts on offer from Yes Bank. You can also open:

  • Portfolio Investment Schemes
  • IBU account for those with a networth more than $1 million USD

You can also use Yes Bank for remittances, loans, deposits, home loans, cards and investments for NRIs. Check out the Yes Bank NRI Services websitefor more information.

How to open an NRI account in Yes Bank

There are two main ways to open a NRI bank account with Yes Bank.

The first option, and in many cases what may be faster, is to go to a local Yes Bank branch in India and open the account in person.

The second option is online but will require a mix of phone call, email and physical paperwork with a Yes Bank representative to complete in most cases.

Yes Bank NRI account opening online

If you are outside of India and unable to go to a Yes Bank branch, you can start the process online.

  1. Head to the Yes Bank Savings Accounts Webpage
  2. Click on the type of account you want to open
  3. Click on the blue and red box on the right hand side with the account name horizontally across
  4. Complete the form and submit.

The form will ask you to provide the following details:

  • Full Name
  • Resident Country
  • Mobile Number
  • Email Address
  • Account of choice

Once you submit the information, a Yes Bank representative will reach out to you to continue the process.²

Yes Bank NRI account opening documents

Here are the documents you will need to open an NRE or NRO account with Yes Bank:³

  • Copy of your passport with your full details
  • A proof of address- it can either be for your India address or overseas
  • A copy of your visa, employment or residence permit in your country abroad
  • Your Indian PAN card, or a Form 60
  • A passport sized photograph in color
  • An initial check or deposit for the minimum average monthly balance required

Depending on your application, you may be asked to provide additional documents for approval. Check with a Yes Bank NRI banking representative directly.

YES Bank NRI account minimum balance

The average minimum balance (AMB) is the minimum amount you need to have in the NRI account to avoid fees. Here are the AMBs for Yes Banks savings accounts:⁴

Type of Account AMB
Non Resident External (NRE) Savings Account ₹10,000
Non Resident Ordinary (NRO) Savings Account ₹10.000
Seafarer Savings Account ₹0

Your AMB may also depend on the value of your overall banking relationship with Yes Bank.

Interest rates for Yes Bank NRI account

Here are the interest rates for Yes Bank NRI savings accounts.⁵

Balance NRI Savings Account Interest Rate
Below ₹1,00,000 4.00%
From ₹1,00,000 - ₹10 lakhs 4.50%
From ₹10 lakhs to 100 crore 5.25%

The interest rate you get on your account can also depend on other factors like if you have other accounts with Yes Bank. Interest rates can also change frequently so check the Yes Bank Interest Rate sheet to stay up to date on the latest rates.

Yes Bank NRI account benefits

Yes Bank has multiple options across banking, remittances and investments that can be attractive for NRIs.
And, Yes Bank NRI services can also be an easy option for those who already have accounts with the bank.
Per Yes Bank, you can benefit from the following if you sign up for an NRI account:⁶

  • Attractive interest rates
  • Low minimum balance requirements
  • Free RTGS, NEFT or utility payments through Netbanking (on applicable accounts)
  • International debit card (depending on the account)
  • Linking of NRE and NRO accounts

However, Yes Bank is missing specialized savings accounts such as salary accounts or Premium accounts that other Indian banks offer. Additionally, other private Indian banks also may have easier processes for account openings.
It is recommended to do your research amongst the different Indian banks on finding the right NRI bank accounts that work for you.

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Yes Bank NRI account customer care

Yes Bank has customer care numbers and an email address to reach them with any questions. Plus there is a NRI FAQs page that can help you troubleshoot any problems.

Here is a list of contact numbers for Yes Bank customer care:

Location Contact
In India 1800 1200 (Toll Free)
Outside India +91 22 4935 0000
United States 1833 380 0149
Canada 1833 491 0559
United Kingdom 800 048 9153
United Arab Emirates 8000 3570 2510

You can also email Yes Bank at yestouch@yesbank.in.


Sources used for this article:

  1. NRI Savings accounts
  2. Opening an NRI Account
  3. Documents
  4. AMB
  5. Interest Rates
  6. NRI accounts

All sources checked as of 6 September, 2021


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