Non-Resident Indian (NRI) Account
Truly Indian, Truly Instant
Mashreq Neo in partnership with Federal Bank brings you the convenience of opening a Non-Resident Indian (NRI) Account digitally from the UAE!
Instant account opening
Free money transfer to NRI Account with Quick Remit
Competitive interest rate on your savings
How to open an NRI Account?
- Login to Mashreq Neo App
- Click on the tab ’Open NRI Account’
- Upload your passport and click your selfie
- Complete your digital KYC with original documents with partner bank
- On successful KYC with partner bank, your account number is created and activated instantly
Eligibility criteria
You should be an active and KYC compliant customer with Mashreq
You should be of Indian nationality
You need to have a valid Emirates ID
You must have a valid Indian passport
Pan card (optional)
Extra Benefits
Your savings and the interest earned on your NRI Account are exempt from Income Tax in India
Real-time tracking of account activation
View your account balance in AED and INR on one screen
Welcome offer of up to 2,000* Federal reward points
Enjoy welcome bonus of 1,000 Federal reward points on an initial remittance of INR 5,000 or more within 30 days of account activation.
Get an additional 1,000 Federal reward points on first debit card spend of INR 5,000 or more within 45 days of debit card activation.
Each Federal reward point is valued at INR 0.25
*Federal Reward Terms & Conditions apply.
Still got questions?
- Mashreq Neo in strategic partnership with Federal Bank India, enables Mashreq’s Non-Resident Indian (NRI) customers in the UAE to open an account with the Federal Bank. The account can only be opened digitally using the Mashreq Neo App and will be activated upon successful KYC verification with Federal Bank.
- If you are a Mashreq Neo customer, you can open a Federal Bank NRI Account by logging into your Mashreq Neo App and clicking ‘NRI Account’ tab. If you don’t have a Mashreq Neo Account, you can open one now by downloading the Mashreq Neo App. Additional details on the Mashreq Neo Account can be found here
- Our partner Federal Bank offers FED NRI Power Saving account with various features for our Non-Resident (NR) customers. When account opening journey is initiated, the account gets opened In the basic category –FED NRI Power. However, the same can be changed or upgraded at any point of relationship with Federal Bank, through their branches, call center or overseas team support. Please refer to this link for account types, benefits and T&C here
- Mashreq Neo will not charge any fee to open an NRI account with Partner bank. For additional details related to service charges and fees applicable on the Federal Bank NRI Account, kindly refer to the Federal bank website here
- To be eligible to open an NRI Account with Federal Bank, you need to meet the following criteria:
- You should be an active Mashreq Neo Customer with an updated KYC
- You should be of Indian nationality
- You need to have a valid Emirates ID
- You must have a valid Indian passport
- You will receive a confirmation via email and SMS once your account is activated by Federal bank. You may also login to Mashreq Neo App and check the status of your NRI Account application.
- This is a digital facility and only available through the Mashreq Neo App.
- You can track the account activation status in real time on your Mashreq Neo App dashboard. If you still wish to speak to a representative or have any queries related to account activation and rejection, you may contact Federal Bank through phone or email and provide your account number as the reference. Below are the Federal Bank contact details for your reference: Abu Dhabi: Email: abdrep@federalbank.co.in Phone: (971) 0264 29368 Dubai and all other Emirates: Email: dxb@federalbank.co.in Phone: (971) 0428 26422 24 Hours Support Number (Federal Bank NRI Services) - +91-484-2630995
- Yes, you may login to your Mashreq Neo App and check your NRI Account balance as well.
- You may login to Neo app and check your Account status. The Overview screen has a status bar which will indicate whether your Account is activated or not. All transaction request post Federal Bank NR account activation i.e Debit card Delivery, Cheque Book, Money transfer, Bill Payments etc. will need to be initiated within the Federal Bank branches, online / mobile banking channels.
- You can add funds to your NRI Account by adding your activated NRI Account as beneficiary on your Mashreq Neo Account.