YES Bank is a popular bank in India offering various account opening options for students and others. The opening of an account with the YES Bank is simple. The bank’s user-friendly mobile app and online banking platform allow you to check your balance, make payments, and transfer funds at your fingertips. International students studying abroad must consider an NRE Savings Account. Continue reading to know more about the YES Bank account opening for international students.
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Overview of YES Bank Account Opening
YES Bank offers a variety of student-friendly accounts designed to meet your specific needs. From the digital savings account for minors and senior citizens to the NRE Savings account for international students pursuing studies abroad, the account opening process for these accounts is super simple.
Any Indian resident above 18 years old having valid ID proof is eligible for YES Bank account opening. There are no specific charges associated with opening an online savings account. However, depending on the type of account, you might be required to make a minimum initial deposit.
You can open your YES Bank account online in minutes with digital KYC, which requires no branch visits. All you need to submit is your PAN Card and Aadhaar card.
| Particulars | Details |
| Type of Account | NRE Savings Account |
| Process | Safe, Online, Paperless |
| How to Open an Account? | Via Mobile App and Online Banking Platform |
| Eligibility | Any Indian resident above 18 years |
| Documents Required | PAN Card, Aadhaar Card, Visa, Passport, University Admission Letter |
Also Read: Applied for an education loan from YES Bank? Check out the steps involved in YES Bank education loan disbursement process.
YES Bank NRE Savings for International Students
YES Bank NRE Savings account is one of the best options for international students. The account lets you make foreign remittances with complete security. One can conveniently repatriate the funds in the account with the interest earned, without paying tax on the interest amount.
The NRE Savings account is a simple process. You can easily open an account with their secure online banking platform or via a mobile banking application. Opening an NRE Savings Account digitally allows you to enjoy higher returns and save on tax.
Eligibility
Students pursuing studies in foreign countries are considered eligible for NRE Savings YES Bank account opening. They are considered eligible NRIs as per FEMA definition, allowing them to manage money during their studies abroad.
- NRE Savings account for international students offers attractive interest rates.
- NRE Savings account is a rupee-denominated account. It means you can use income earned in India (rent, dividends) to manage your expenses abroad.
- The account allows you to enjoy global access to over 1.5 million ATMs with their international debit card. The card provides various offers and discounts, and protection against lost card liability.
- Nomination and overdraft facility is available on NRE Savings YES Bank Account for international students.
Also Read: Choose the most reliable and convenient ways of managing your money abroad with a YES Bank Forex Card.
YES Bank Account Opening Process
Ready to open a YES Bank Account? You can either locate the nearest YES Bank branch or apply online. Visit the nearest branch and connect with the bank representative. You can let them know your needs and ask them to guide you through the application process. To apply online, follow the given steps-
- Visit the YES Bank official website.
- Navigate to the ‘NRI’ section on the menu bar and click on ‘Accounts’.
- Select ‘NRE Savings Account’.
- Click on ‘Open NRE Account Today’.
- Now, click on ‘Open a New Account’.
- Proceed with the application form.
Documents Required
The account opening process of YES Bank is safe, easy, quick, and paperless. If you are opening your YES bank account digitally, you need to show the required documents to the bank’s staff on a video call. Once approved, the process for account opening is complete. Check out the list of documents required for opening a YES Bank account for international students-
- Valid Passport: This serves as your primary identification document.
- Student Visa: Proof of your legal student status in India.
- University Admission Letter: This confirms your enrollment at an Indian university.
- Local Address Proof: This could be a hostel residence permit or a rental agreement.
- Two Passport-Sized Photographs: These are required for your bank records.
- KYC Documents: PAN Card, Aadhaar Card
Also Read: Check out the list of documents required for YES Bank education loan to ensure quicker loan processing.
This was all about the YES Bank account opening for international students. The process is simple and hassle-free. Make sure to check out the features and check for fees, charges, and minimum balance requirements with the bank to avoid any confusion.
To know more about education loans, the best bank accounts for students, forex cards, and banking experience for global students or international money transfers, reach out to our experts at 1800572126 to help ease your study abroad experience.
FAQs
Yes, international students can open an NRE Savings Account with YES Bank. This account is designed for Non-Resident Indians (NRIs) managing finances while studying abroad.
YES Bank account for international students offers various benefits:
-Earn interest on your savings in rupees.
-Repatriate funds with interest earned, which is tax-free.
-Enjoy a globally accepted debit card for ATM access and purchases
You can open an account online or visit a YES Bank branch. The online process is quick and paperless, requiring minimal documents.
Opening a YES Bank account for international students requires minimal documents. You need a valid passport, student visa, university admission letter, local address proof, passport-sized photographs, and PAN Card.
YES Bank doesn’t have specific charges for opening an online savings account. However, minimum balance requirements might vary depending on the type of account.
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