NRI Joint Account – NRI Can Open Joint Account with Resident of India

Non-Resident Indian (NRI) is a term used by the Reserve Bank of India (RBI) to describe a person who is resident outside India but is a citizen of India. The RBI has set certain regulations for NRIs regarding their banking activities in India. According to the RBI, NRIs can be joint account holders in a resident bank account maintained by residents in India.

A resident bank account is a type of account held by an individual who is a resident of India. These accounts are subject to certain regulations specified by the RBI. When an NRI becomes a joint account holder in a resident bank account, the account is considered a resident bank account for all purposes and all regulations applicable to resident bank accounts will apply

A non-resident Indian (NRI) can be a joint account holder in a bank account maintained by residents in India under the following conditions, as specified by the Reserve Bank of India (RBI):

  1. The account will be considered a resident bank account and all regulations applicable to resident bank accounts will apply.
  2. The NRI cannot credit cheques, instruments, remittances, cash, card, or any other proceeds to the account.
  3. The NRI can only operate the account for the resident’s domestic payments and cannot create any beneficial interest for themselves.
  4. If the NRI is a joint holder with more than one resident, they must be a close relative of all resident account holders.
  5. If the NRI becomes the survivor of the account, it will be categorized as a Non-Resident Ordinary Rupee (NRO) account.
  6. The NRI must inform the Authorized Dealer (AD) bank to get the account categorized as NRO and all regulations applicable to NRO accounts will apply.
  7. The joint account holder facility may be extended to all types of resident accounts, including savings bank accounts.
  8. The AD bank must verify the actual need for the joint account facility and obtain a declaration signed by the NRI

When providing this service, the AD bank should assess the genuine requirement for the facility and secure the following signed declaration from the non-resident account holder:

I am the joint account holder of SB/FD/RD/Current Account bearing No ……. which stands in my name and in the name of Shri/Smt. ……….. who is my ………. (state relationship). I hereby undertake that I shall not use the proceeds lying in the above account for any transaction in contravention of the provisions of the Foreign Exchange Management Act (FEMA) 1999, Rules/Regulations made thereunder and the related circulars/instructions issued by the Reserve Bank from time to time. I further undertake that if any such transaction is put through the said account in contravention of the FEMA, 1999 or Rules/Regulations made thereunder, I shall be held responsible for the same. I shall intimate my bank in the event of any change in my Non-resident / Resident status.”

We assist NRIs in opening their Bank accounts in India. You can reach out to us at

We can provide information and guidelines on the process. NRIs (Non-Residential Indians) can open a bank account in India if they have proper documents and meet the eligibility criteria set by the bank.

The eligibility criteria for NRI bank accounts may vary from bank to bank but generally, the applicant should be an NRI as defined by the Reserve Bank of India (RBI). It is advisable to check with the specific bank for their detailed requirements and procedures for opening an NRI account.

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