How do you convert a Savings Account into an NRO Account? Groww NRI
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- Опубликовано: 30 июл 2024
- How do you convert a Savings Account into an NRO Account? Groww NRI
0:00 - Introduction
1:01 - What is an NRO account?
3:36 - What does the law say?
4:36 - The benefits of an NRO account
6:38 - 3 simple steps to convert your savings account to an NRO account
8:33 - Taxes for an NRO account
9:33 - Power of attorney to manage NRO account
10:55 - How to transfer money to and from an NRO account?
11:33 - Which NRO account should you pick?
11:55 - Recap
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Your article is one of the best in my life. At 60+, i never knew that a regular domestic savings bank account can be converted to an NRO account. Great. I will attempt immediately. Thanks
Good information. Thank u
I have a SIP through groww which has access for auto pay from my savings account and i have stocks as well so when i convert my savings into NRO Account will i face any trouble ?
Waiting for the reply
what if we open other bank NRI NRO account rather than changing the current one? for ex: current have HDFC, rather than changing to NRE NRO account, I open ICICI NRE NRO account and linked to demant account?
Madam,
Iam alredy buy shares through grow by my savings account,
Nw am in aboard..
If a change my primary account to NRO normally have any problem in demate account???
Otherwise I open a new NRO account in a diffrent bank and change its my primary account in demate acount is poosible???
Reply me
Hi, I have opened a NRE and NRO account in a different bank other than my resident account. But I have some amount in resident account that I want to transfer to NRO account and then close the resident account. So , can I transfer this money from my resident account to NRO account of my other bank? Looking for the answer. Thanks.
Hi, Thank you for the informative video.
Quick Question: I recently checked that my account is convert to NRO and I have new NRE account as well. But I noticed that my previous FD's are not converted to NRO FD's. it is showing as Resident FD's
It should get converted automatically while the conversion is happening ?
Now I can't liquidity my FD's and as no account is linked to it.
U need to inform ur bank to do so
Dear there is any tax limit is there in financial year
This app has some login issues. I couldn't login to the same and its shows operation is available right now. Try to rectify the problem.
What If I have auto deducting SIP in my SB account if I convert it to NRO does it affect my existing SIP transaction?
You can opt for PIS
I’m NRI but holding savings account and still investing and trading normally like other indians, could you help me understand What will happen to my stock market portfolio which is currently linked with my savings account after i convert my normal savings account into NRO? You said bank account number will remain same, so my questions is do i have to contact my demat broker and inform about this conversion also can i trade freely and invest in stocks like i’m doing with savings account?
It's simply illegal for an nri to have saving account. So u need to close or convert to NRO.
Regarding trading u can't trade resident Demat being nri. To trade u need to open nri Demat with NRO bank account. Sell all shares and close resident it's simple instead transfer to relative Demat. Then open nri Demat and do buy sell.
Excellent guidance Thanks so much
I have green card US and continue with Indian bank accounts fir deposits abd pension etc since I am in dilemma to maintain the green card status or become Indian resident
I am selling small house property and wants to repatriate funds as gift to my children
What is best solution to change to My bank to NRO account to facilitate repatriation
If I do will now what any penalties will become payable
Please guide as I am senior citizen with confused mind
Please reachout to our team at support@growwnri.com with your query.
Can you make a video for seaman
Certain banks have particularly good account types for seaman u can opt for it
Can we convert saving to NRE account ?
No, NRIs cannot directly convert their existing savings account to an NRE account. This is because savings accounts are considered resident accounts, while NRE accounts are specifically for non-resident Indians.
However, NRIs can open a new NRE account and transfer funds from their savings account to the NRE account.
@GrowwNRI
Thank you so much.
And what about how to convert Indian resident Pan Card to NRI Pan Card online??
@@GrowwNRI your channel is very useful for NRI. Keep uploading videos 👍👏
I trading in grow app using NRO account.but I working in gulf, opening demat account in India
How to apply ITR
Hindi hindi hindi😢😢😢
How do we contact you for any NRE OR NRO ADVICES
This is not sufficient, I am suffering from 6 months with Zerodha to convert to NRO.
People working in middle east, africa, are contract employees and specially oil field dont have Rental, utility bills, they are staying in camps.
Now, Zerodha asking for such documents, even they commented on my Foriegn license that no address proof.
So, how to convert to NRO for people working outside India in remote location.
Our companies transfer salaries directly to bank account in India
What documents did u provide