Some top Indian banks now offer additional benefits to NRI account holders, making their fund transfers to India more convenient and affordable. Read this post to know some of the top benefits of opening an NRI account.
While there is no shortage of online remittance providers, most NRIs still prefer using money transfer services of reputed Indian banks. Apart from security, banks also offer highly competitive rates and faster transfers. Moreover, some top banks offer additional benefits for sending money to India for NRI account holders.
If you’ve recently moved to a foreign country and would regularly send money to India, then here are some of the top benefits you can experience by opening an NRI account-
- Same-Day Transfer Facility
While the transfer durations have fallen significantly since the introduction of online remittance, they can still vary considerably between remittance providers. As banks have extensive national and international banking networks, they are able to offer faster money transfer services.
For customers holding NRI accounts, some of the top Indian banks also offer same-day transfer facility from several countries. The transfer duration can be accelerated further if the remitter and the beneficiary in India have accounts in the same bank.
- Attractive Exchange Rate
One of the most significant advantages of online remittance is attractive exchange rates compared to offline transfers. To the customers with an NRI account, the banks generally offer highly competitive rates. This can be an effective way to get the most from your hard-earned money.
If you are an NRI looking for ways to get a higher exchange rate, then opening an NRI account and using remittance services of the same bank can be an effective solution.
- Lower Service Charges
Even the service charges can be lower for customers with an NRI account. The combination of higher exchange rates and lower service fees can help NRIs save more money and get the best value of their remittance amount.
Moreover, some of the banks regularly conduct promotional activities where they offer exciting discounts on fund transfers. For instance, banks can offer discounts on transfer charges or higher exchange rates for a limited duration to help their customers get maximum value for their money.
- Flexible Account Management
Using the remittance services of the same bank where you have an NRI account also makes account management more flexible. It eliminates the need to log in to your money transfer account to initiate the transfer and another international bank account to complete the payment of NRI money to India transfers.
With an NRI account, customers can log in to a single account for initiating the transfer and completing the payment.
Online Remittance and NRI Account for Seamless Fund Transfers
The combination of an NRI account and online remittance enables NRIs worldwide to enjoy an upgraded money transfer experience and access a host of valuable benefits.
Choose a reputed Indian bank to open your NRI account and enjoy all the great benefits discussed above.