Wanted to open a bank account where funds could be transferred online from a local bank here in Qatar to an NRE/NRI rupees account to an Indian bank in India. Came across two such options but unable to decide. Which is the better option in terms of features, ease of use, exchange rates and security? Doha-Axis Bank tie up OR Commercial - ICICI Bank aka "nriDirect Account" for Indians in Qatar?
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Go for Commercial Bank, as you can have direct investment options in Indian equity and mutual funds linked with your ICICI NRI account in India.
If you are just looking to OPEN a NRE Account where your overseas earning can be saved.
I will suggest you - Citibank => if its branch available in your city of India or you can chose the nearest available city to open a account. the best thing about this bank is there are no charges for banking transactions unlike other private banks charge.
Kindly visit www.citinri.com
all my best wishes
In these times of financial turbulence go for SBI, u can open an nre account and thats the best bank. NEVER EVER THINK OF HDFC BANK AS THEY HAVE A VERY POOR SERVICE LOTS OF FORMALITIES AND THE DSA HERE DONT EVEN KNOW THE RBI GUIDELINES. TALKING TO THEM IS LIKE TALKING TO UNPROFESSIONAL PEOPLE. I WONDER WHY QNB TIED UP WITH THEM. BY THE WAY ALL BANKS GIVE U NOW SAME INTREST RATES, REPARTIATION, CBS SERVICES AND ADDITIONAL PORTFOLIO SERVICES
According to my experience, open NRI direct account with commercial Bank & ICICI bank, this gives you current account in commercial bank, NRE account in ICICI bank & if you are interested in Share/mutual fund online trading then ICICI online trading account facility is best. you can transfer money from commercial bank account to your ICICI NRE account online & transfer happens in one working day.
Also I would like to mention one point here that for online money transfer, Dohabank exchange rates are always better than commercial bank, so for me I have also opened a Dohabank saving account which I use for online money transfer to ICICI NRE account & This transfer is also fast, most of the time one working day.
Go for nationalised banks like SBI. Trust exchange will assist you to open an account with SBI. All the best.
My opinion is to go for Doha bank-Axis bank.Better exchange rate Axis bank service is much better than HDFC or ICICI bank.
Gentlman , Go for SBI NRE account , safe , secure & reliable .They have online banking with all good feature like saving account with international debit card, demat , bill payment and fund transfer through NEFT/RTGS , 24x7 toll free customer support etc..
Gone were the days when we used to look for banks in Qatar with a tie up with Indian banks . Now with E remittance facility you can quickly transfer fund to almost all banks in India .
Have a nice weekend !
dohabank-axis bank THIS IS BEST LINK FOR REMITTING MONEY TO INDIA, online transfer is very easy and on the spot.no any concerns , im using this facility from last 4 years.
My experience with Doha Bank-Axis bank for the past 3 years has been very satisfactory. The transfers online occur instantly most of the time and the rates offered by Doha bank are the best in here compared to all other banks and the exchange houses. The customer service by Axis bank in India ( at least in Kochi, Kerala) is excellent. I do have an SBI NRE account but I still would prefer remittances done to Axis bank as the money gets credited to Axis bank accounts much faster than to SBI accounts.
go for axis bank with doha bank, got a reference you can contact 55982586 for the account opening process