kotak mutual funds for nri

Question 1

How can I open an NRI account in Kotak Mahindra Bank?

Accepted Answer

An NRI can open an NRE account with Kotak Mahindra Bank by submitting the Account opening form along with a photocopy of attested passport, copy of visa or residency, mailing address, and a colored passport size photograph. The documents should be attested before submission

Question 2

Is Kotak Mahindra a good buy?

Accepted Answer

Kotak Mahindra Bank is fundamentally strong and well managed. By looking into bank performance it can be rated as strong as other banks and expected to show good returns on investments in the near future.

Question 3

Can NRI get Aadhar?

Accepted Answer

NRI can get the Aadhar number upon their arrival in India. Initially, NRIs had to stay in India for 182 days before applying for Aadhar. However, this rule has changed since July 2019 and NRI can apply directly upon arrival using their valid Indian passport.

Question 4

Can NRI transfer money to a savings account in India?

Accepted Answer

NRIs are not allowed to hold standard savings account in India which is only for residents as per FEMA regulations. They should open an NRO or NRE account that is specially designed for NRI and use the same for money transfers from outside India.

Question 5

Is the NRI account necessary?

Accepted Answer

NRI account is necessary for NRIs who are interested in making any investments in India as they will not be able to use their old standard savings account after moving out of India. NRI account is essential for both investment and crediting gains generated from those investments.

Question 6

Is it safe to invest in Kotak Mahindra Bank?

Accepted Answer

Kotak Mahindra is a private sector bank that has been fast-growing with very steady performance, one of the leading banks in market capitalization. Also, Kotak Wealth Management is top-ranked in the Indian market

Question 7

Which account is better NRE or NRO?

Accepted Answer

If you would like to hold the money without any further investment then an NRE account will be better and since the money transferred will not be invested you will enjoy a tax-free benefit on an NRE account. Unlike NRO account which is tailored for managing money transferred into investments in India and credit of investment gains, that is why an NRO account is taxable

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