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I am permanently moving back to India from abroad. Do I need to change my status to a Resident Indian? How do I do so?

If you had previously invested or continue to invest with Scripbox using funds in your Non Resident External (NRE) bank account, please do not close your NRE bank account until you have withdrawn all your funds invested into that account. This is because NRE funds are considered fully repatriable overseas, and mutual funds do not allow a change of bank account from NRE to Resident Savings, since those funds are not freely repatriable overseas. Once you have withdrawn these funds, you should then contact your bank in order to close your NRO and NRE bank accounts, and open a resident savings account.

Once your resident bank account is ready, login to your Scripbox account and click on "Add a family member" and then "Adult". Enter your own details but with your India address and resident savings account. This will create a resident investing account under your existing Scripbox login and password, separate from your previous NRI investment account. In addition the pre-filled documents (KYC form and link your bank account form) sent to your e-mail address, we also require the following documents from you.

  • A bank change letter reflecting your updated bank account information. Contact us to get a copy of this letter by e-mail.
  • A change of residence letter to reflect your new KYC status as a resident Indian. Contact us to get a copy of this letter by e-mail.
  • A signed copy of your PAN card and Indian address proof.

We will then activate your resident Indian investing account after which you can re-invest any previously withdrawn funds.

Hope we helped! Why not get started with your Scripbox.
If you need further assistance please feel free to reach us at 1800-102-1265