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Re-designate your existing Resident Indian account to NRO account

Re-designate your existing Resident Indian account to NRO account

Please refer to the below steps:

  • Listed below are the required documents. These change slightly depending on your country of residence.

    1. Documents common to all countries:

      • Rupee Checking Account Opening Form (Click here to apply and know more about country wise requirement)
      • One Passport Size Photograph of each applicant
      • Copy of Passport of each applicant

    2. Indian passport & proof of legal status in country of residence. Please attach signed photocopies of:

      • Passport pages containing photograph, personal details
      • Valid visa or Permanent Resident Card. Please Note: Singapore residents also need to submit photocopy of NRIC or Employment Pass or Dependent Pass or Work Permit. Tourist / Business visa will not be accepted

      OR

    1. Foreign Passport & Proof of Indian Origin, please attach signed photocopies of:

      • Foreign Passport pages containing photograph and personal details
      • ANY ONE of the following documents, in case of Foreign Passport Holders (born outside India) [Note: In case you are providing PIO / OCI / Old passport for spouse / spouse’s parents / grandparents / great grandparents, relationship proof will be required]
        • Person of Indian Origin (PIO) Card or Overseas Citizen of India (OCI) Card for you or for your spouse or any of your / spouse's parents / grandparents / great grandparents
        • Copy of Indian Passport held at any time by you or your spouse or any of your / spouse's parents /grandparents / great grandparents
        • Official documentation issued by the Indian Government (Birth Certificate) indicating place of birth as India for you or for your spouse or any of your/spouse's parents/grandparents / great grandparents
    2. Letter of Intent (Click here for the Standard Letter of Intent (LOI) format which needs to mandatorily provided. In case you reside in the following countries, you may be required to provide an additional LOI. Click here for Thailand LOI, here for Malaysia LOI and here for Spain or Trinidad & Tobago LOI.)
    3. CRS Self-certification for each holder in the account along with proof of Tax Identification Number (if required)
    4. Copy of PAN card for each holder or Form 60
    5. Mandate Holder Application (if any) along with requisite documents
    6. All documents which are in non-English have to be translated into English before it’s been submitted for processing. Please get in touch with your Citibank contact for further details on this
    7. W9 form (mandatory for US clients – click here to download)
    8. Copy of Debit Card/Cancelled cheque
    9. Proof of Address: To learn more about accepted address proofs, click here

    Note:

    • If re-designation is requested on non-face-to-face basis, the Self-attested photocopy of all the Identity and address proof documents will need to be attested by ANY ONE of the following:
      • Notary Public
      • Indian Embassy or Consulate in your country of residence
      • Bank staff of your local bank. Please note: If the documents are attested by bank staff, please include a copy of your latest bank statement for your local bank account. All documents need to clearly mention the name of the bank employee, and carry their designation, signature, contact details and stamp of the bank.

  • Send to mailing address

    Citibank, N.A., Mail Room, ACROPOLIS, 9th Floor, New Door No.148 (Old No.68), Dr. Radhakrishnan Salai, Mylapore,
    Chennai – 600 004 OR visit www.citinri.com for details of mailing address in your country of residence. You can also visit a Citibank branch in India to hand over these documents in person.

Other Queries

Countries allowed for NRO re-designation

Based on your country of residence, the NRO Conversion may vary:

  1. If you are a resident of the below countries, you can get the re-designation done when not present in India
      • USA
      • UK
      • UAE
      • Bahrain
      • Cameroon
      • Canada
      • China
      • Finland
      • Germany
      • Hong Kong
      • Indonesia
      • Ireland
      • Kenya
      • Malaysia
      • Mexico
      • Norway
      • Oman
      • Philippines
      • Russia
      • Singapore
      • Spain
      • Switzerland
      • Thailand
      • Turkey
  2. If you are a resident of the below countries, you can get the re-designation done only when present in India:
      • Australia
      • Ghana
      • Hungary
      • Japan
      • Kuwait
      • New Zealand
      • Nigeria
      • Qatar
      • Taiwan
      • Trinidad & Tobago
      • Uganda
  3. For South Korea, re-designation may be done only when you are in South Korea.
  4. For Saudi Arabia, re-designation requests will be considered on a case-by-case basis.

Please note,

  • All holders in the account should be NRIs. In case the joint holder in such an account is a resident Indian, please submit an instruction signed by all account holders to remove the resident Indian joint holder(s). This should be ensured prior to resident account re-designation to NRO
  • Any Standing Instruction (SI) / ECS / NACH maintained for receiving account-to-account transfer from any resident account held with Citibank India would require to be discontinued before re-designation to NRO
  • For any other linked products, please refer to below ‘Impact to linked product and services’ and ‘Impact on linked domestic mutual fund and demat’

Impact to linked products and services

When you re-designate the domestic savings account to NRO, few of the existing services will change. Please find the details as below.

Chequebook
ATM/ Debit Cards
Tax Deduction at Source (TDS)
Deposits
Employee Reimbursement Account
Credit Card & Loans
Overdraft Facility
Mandate Holder
FD proceeds
Domestic mutual funds and Demat
  • A new chequebook will be issued
  • Existing cards will not be valid anymore. New ATM/Debit card and PIN will be issued. This new card cannot be used for cash access at International ATMs
  • Interest earned on balances in your NRO Account will be subjected to TDS
  • Fixed Deposits will be closed prior to re-designation and principal and interest (if applicable) will be credited to your Citibank Domestic Savings Account

    Note: Tax saver deposits cannot be closed prior to maturity
  • This account will be closed and balances, if any, will be credited to your Citibank NRO Savings Account
  • The Credit Card will be closed. Please clear the total Balance outstanding on your Credit Card including all pre-termination fees for Loan closures before a/c re-designation. You may use balances from other Citibank Accounts to clear the Credit Card or Loan balance
  • This facility will be closed and the balances may be adjusted against your account according to Terms and Conditions. In case of Debit balance in your account, the same needs to be funded at the time of re-designation.
  • Your mandate associated with your Citibank account will be closed. However, all payees registered for fund transfer in the resident account will be retained after the re-designation
  • FD proceeds will be credited to the domestic account

Impact on linked domestic mutual fund and demat

  • Please note, Investment products are not available to US persons, Residents of Canada and may not be available in all jurisdictions
  • Incremental booking or new accounts for India Domestic Mutual Funds and Demat is available, on reverse enquiry to resident of the following 20 countries
      • Singapore
      • Japan
      • Australia
      • Malaysia
      • Thailand
      • United Kingdom
      • Philippines
      • Germany
      • Taiwan
      • Kuwait
      • Hong Kong
      • Spain
      • United Arab Emirates
      • China
      • Zambia
      • Saudi Arabia
      • Switzerland
      • Bahrain
      • Indonesia
      • Oman
  • In case you are moving to any other location and wish to retain your current holdings, please note that you would have to change the status of the account/folio recorded with the asset management company from domestic to NRO. Refer to the section – “Documents for re-designating DMF account to NRO account” and “Documents for re-designating demat account to NRO account”

This is subject to additional conditions including the requirement of the investor being physically present in India and specific conditions as per the regulations of the respective countries.

Documents for re-designating DMF account to NRO account

Listed below are the required documents. *For list of countries where re-designation is allowed, click here to refer to the section - “Impact on linked domestic mutual fund and demat”

Please ensure you have the original documents for verification while visiting the branch for submitting the below

  1. Request for change in residential status to NRI
  2. Letter with NRO address and signature of all holders
  3. Original Seen and Verified (OSV) Copy of the below documents:
    • Current Passport
    • Resident Visa/ Work Permit/ Employment Visa/ Current Visa or any other type of visa (ANY ONE)
    • Foreign Address Proof
    • PAN
    • KYC

*Please note, conversion of your current/savings account into NR will entail your DMF account to also be converted to NR Click here for the KYC details change form required to modify status from domestic to NRI. Please fill all the fields provided in the form and submit it along with the other documents.

Note: You need to be present in India for conversion of your DMF account.

Documents for re-designating demat account to NRO account

Listed below are the required documents. For list of countries where re-designation is allowed, click here to refer to the section - “Impact on linked domestic mutual fund and demat” Please ensure you have the original documents for verification while visiting the branch for submitting the below

Please ensure you have the original documents for verification while visiting the branch for submitting the below

  1. Request for change in residential status to NRI (Click here for format)
  2. CRS Individual Long form (Click here for form)
  3. For Demat account opened post 1st Aug 2016, CKYC form has to be additionally submitted, where residential status is mentioned as NRI.
  4. Original Seen and Verified (OSV) Copy of the below documents:
    • Current Passport which proves change of your residential status
    • Resident Visa/ Work Permit/ Employment Visa/ Current Visa or any other type of visa (ANY ONE)
    • Foreign Address Proof
    • PAN
    • KYC

Click here for the KYC details change form required to modify status from domestic to NRI. Please fill all the fields provided in the form and submit it along with the other documents.

Note: You need to be present in India for conversion of your demat account.

Retaining linked Home Loan and home credit facility

  • Retain Home loan without Home Credit
  • Retain Home Loan which is also linked to Home Credit Account

  • The following needs to be done:

    • Please update your new contact number, mailing address and email id on your loan account.
    • The loan repayment needs to be done from a NRO account .Please connect with the Bank for the repayment swap maintenance on your loan account
      • For repayment swap maintenance, the following documents are required:
        • Revised repayment instruction
        • Self Attested Copy of passport and valid visa
        • 3 months Bank statement of the account from which repayment is being proposed
        • Self attested Signature proof of the signatory

  • Continuation of Home Credit accounts are allowed only if the you are relocating to Singapore or UAE. If the relocation is to any other country the loan needs to be re booked as a non-home credit loan. Please contact the Bank for the detailed process of rebooking.

    • To continue with the home credit if as per policy, the following needs to be done
      • Please update your new contact number, mailing address and email id on your loan account and on your home credit account
      • The loan repayment needs to be done from a NRO account. Hence either the Home Credit Account needs to be flagged as NRO or the loan needs to be rebooked as a vanilla loan without home credit. Please contact the Bank for the documentation required.
      • Retention of home credit account is allowed only if the relocation is to Singapore or UAE
      • If you have relocated to any other country other than the ones mentioned above, please contact the Bank as we will have to convert your loan from a home credit to a non - home credit facility. This will involve a rebooking of the loan facility and a fresh loan agreement shall be signed.
      • For the conversion of the home credit account to NRO, please contact the Bank with the following information
        • Date of Borrower/s departure from India
        • Country to which borrower/s are relocating
        • Purpose and probable duration of the borrower/s abroad
        • Reason for continuing the home credit
Repatriate funds from your NRO account in India, transfer funds and make bill payments

Repatriate funds from your NRO account in India, transfer funds and make bill payments

Please refer to the below steps:

  • Download the documents and fill it out
  • Mail your documents
    • Repatriation Application Form
      (Click download for the form and click guidance for how to fill the form)
    • FEMA Declaration, also known as A2 form
      (Click download for the form and click guidance for how to fill the form)
    • One Original copy of Form 15 CA(You will need to complete this form online through the Indian Income Tax Authorities website (www.incometaxindia.gov.in), print and sign. The information in the Form 15 CA and 15 CB needs to be consistent and hence we recommend that you complete this Form after your Chartered Accountant has completed Form 15 CB.)
    • Signed photocopy of your PAN Card
    • Copy of your Income Tax Returns filed in India (covering the period in which the funds were earned)
    • Additional documents may be required basis the source of funds in your account (Click here to know more)

    The process will take between 10 days to 4 weeks, depending on type of repatriation request, source of funds etc., once the documents are submitted

    For further assistance you can reach out to your RM or write to us at nrinfo@citi.com.

  • A specialized team will help you with the repatriation process after mailing us the documents to the address:

    Citibank, N.A., Mail Room, ACROPOLIS, 9th Floor, New Door No.148 (Old No.68), Dr. Radhakrishnan Salai, Mylapore,
    Chennai – 600 004.

Other Queries

Transfer money to your India account digitally

Wire (Funds) Transfer

  • From your overseas account to NRI Account with Citibank India
  • Effected within 2-3 business days
  • Indicative exchange rates at time of transfer
  • Click here to fill out the Wire transfer request form. Print the form and provide it to your bank to initiate the wire transfer

Automated Clearing House (For US Customers only)

  • From your US Bank Account to NRI Account with Citibank India
  • Effected within 5 business days
  • Exchange rates visible prior to transfer

Click here to learn more about banking digitally with Citi

Definitely, you can easily make bill payments online using Bill Pay.

Simply login to your account (Click here to login) and Register the Biller under the Bill Pay Link in 4 easy steps.

  • Under Banking tab, click on ‘Register new biller’ under Bill Pay
  • Select your city, utility type and biller, and proceed
  • Select the account from which bill amount will be deducted and select the mode of payment
  • Based on your biller, enter your details and click on register

You can choose the payment mode depending on the solutions offered by the Biller.

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Re – activate your dormant account

Re – activate your dormant account

To re-activate your dormant NRE/NRO account please mail the account activation form (click here to download) and documents to our address:

Citibank, N.A., Mail Room, ACROPOLIS, 9th Floor, New Door No.148 (Old No.68), Dr. Radhakrishnan Salai, Mylapore, Chennai – 600 004 OR visit www.citinri.com for details of mailing address in your country of residence. You can also visit a Citibank branch in India to hand over these documents in person.

Documents required:

  1. A duly signed request letter to remove dormancy
  2. Self-attested copy of your passport with your account number, clearly mentioned
  3. For minor accounts, also submit Passport copy of the guardian.

Note:

  • Please ensure the copy of the passport is signed by the respective holder
  • The passport details captured on the copy submitted by you would be updated in our records, if they are found to be different from our existing records
  • In case of change in address, please submit a letter mentioning your current mailing address, along with a self-attested proof of address for the same. For the documents required, Click here
Documents accepted as Address proof

Documents accepted as Address proof

Proof of Address: To learn more about accepted address proofs, click here +

  • You are required to mandatorily submit at least ONE address proof from the below list of OVDs (Officially Valid Document). Please provide your Indian and overseas contact numbers to reach out in case of clarifications or further requirements.
    • OVD for address1
      For your INDIA address For your FOREIGN address
      Indian Passport (with India address) Any other Passport (with address)
      Voter ID card issued by issued by Election Commission of India Documents issued by Government departments of foreign jurisdictions (For foreign Passport holder only)2
      For your INDIA or FOREIGN address
      Letter issued by Foreign Embassy/Mission in India (For foreign Passport holder only)2
      Valid Driving license
      Additional Proof for First Time Travelers ONLY
      Aadhaar Card issued by Unique Identification Authority of India.
      Please redact/blacken out the first eight digits of Aadhaar number such that only last four digits of the Aadhaar number are visible
      Letter issued by the National Population Register containing details of name and address
    • Extended OVD for address
      For your INDIA or FOREIGN address
      Utility bill which is not more than two months old of any service provider (electricity, telephone, post-paid mobile phone, piped gas, Water bill)
      Property or Municipal tax receipt
      Letter of allotment of accommodation from employer issued by State or Central Government departments, statutory or regulatory bodies, public sector undertakings, scheduled commercial banks, financial institutions and listed companies. Similarly, leave and license agreements with such employers allotting official accommodation
      Documents issued by Government departments of foreign jurisdictions or letter issued by Foreign Embassy or Mission in India
      Additional Proof for First Time Travelers ONLY
      Pension or family pension payment orders (PPOs) issued to retired employees by Government Departments or Public Sector Undertakings, if they contain the address

    • Note for First Time Travelers

      • First Time Travelers need to provide Indian residential address proof from ‘OVD for address’ section and proof of overseas employment / university letter (in case of student). The address of the office / university can be updated as residential address.
      • You do not need to submit an address proof from ‘Extended OVD for address’ section unless your foreign Address is the mailing address.

    • Notes to Proof of address:

      • The mailing / permanent address can be either a foreign or an Indian address. The residential address must necessarily be a foreign address. The number of documents to be submitted depends on the number of addresses provided. For example, if all three addresses provided are the same, you need to submit only ONE address proof. If you have three different addresses, THREE different address proofs need to be provided.
      • 1If at least one OVD is provided from the documents listed above, for the remaining addresses mentioned in the form you can submit any of the below “Extended OVD for address” documents as proofs.
      • 2All documents which are in non-English language have to be translated into English by approved translators.
Benefits of CitiGold NRE/NRO account

Benefits of CitiGold NRE/NRO account

As a CitiGold Customer, you are entitled to preferential fees & charges, services and exclusive benefits with your Citibank World Debit Mastercard®. Click on the below options to learn more.

Preferential Fees & Charges

Preferential Services

Exclusive benefits with your Citibank World Debit Mastercard

Disclaimers:

Citibank India does not market any product or service to individuals resident in the European Union, European Economic Area, Switzerland, Guernsey and Jersey.

This is not, and should not be construed as, an offer, invitation or solicitation to buy or sell any of the products and services mentioned herein to individuals resident in the European Union, European Economic Area, Switzerland, Guernsey and Jersey.

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