Why does NRI Desk show mid-market rates?

Mid-market rates are a neutral benchmark. The amount you actually receive is usually lower after bank or remittance provider spreads and fees.

Can I rely on the remittance comparison as a quote?

No. The comparison is indicative and helps shortlist providers. Always confirm the live quote in the provider app before transferring money.

Are NRI loan calculations exact?

The EMI formula matches the standard reducing-balance method, but banks may add fees, insurance, prepayment rules or eligibility conditions.

NRI SIP guide: start a mutual fund SIP from NRE or NRO account

NRIs can invest in Indian mutual funds via SIP (Systematic Investment Plan) from NRE or NRO accounts. NRE-funded SIP is in the repatriable route; NRO-funded is non-repatriable. NRI KYC must be completed first. US and Canada NRIs face AMC restrictions. Each SIP instalment has its own LTCG holding period calculation.

Each SIP instalment has its own 12-month LTCG clock

NRIs can start a SIP in Indian mutual funds by completing NRI KYC and linking an NRE (repatriable) or NRO (non-repatriable) account for the auto-debit mandate. US and Canada NRIs face restrictions from most AMCs due to FATCA. Each SIP instalment is a separate investment — the LTCG holding period of 12 months starts separately for each instalment.

Key points

Complete NRI KYC first — NRI KYC must be completed with a KYC Registration Agency (KRA) before investing — attach passport, overseas address proof and PAN.
Each instalment has its own holding period — LTCG holding: 12 months for equity, 24 months for hybrid, each counted from the date of that specific SIP instalment's NAV allotment.
NRE route is repatriable — SIPs from NRE account funds are on the repatriable route — redemption proceeds can be sent back abroad. NRO-funded SIPs are non-repatriable.

How to start an NRI SIP

Step 1: Complete NRI KYC on any KYC Registration Agency (KRA) portal (CAMS, CDSL Ventures, Karvy) — submit passport, overseas address proof and PAN.

Step 2: Choose a mutual fund AMC and scheme. Check whether the AMC accepts NRIs from your country (US/Canada restrictions apply to many AMCs).

Step 3: Register online via the AMC's NRI platform or through an NRI-friendly distributor or direct MF platform (Kuvera, MF Central).

Step 4: Set up the SIP mandate — specify the NRE or NRO bank account for auto-debit, the SIP amount, date and frequency (monthly is most common).

Step 5: Verify the mandate with your bank (e-mandate via net banking for most banks). First instalment is collected on the selected date.

Tax on NRI SIP redemption

Equity funds: each SIP instalment is taxed separately. If an instalment is redeemed under 12 months, STCG at 20%. If over 12 months, LTCG at 10% above ₹1.25 lakh.

Debt funds: gains taxed at 12.5% without indexation (from FY 2024-25, Budget 2024 change) for all holding periods.

TDS: AMCs deduct TDS on redemption gains for NRIs — equity at 10%, debt at 12.5%. File ITR to reconcile.

Repatriation: NRE route proceeds are freely repatriable. NRO route proceeds are subject to the USD 1 million annual limit and Form 15CA/15CB.

Frequently asked questions

Can I start a SIP in India from the USA?

Most major AMCs (HDFC, SBI, Axis, Nippon, Kotak) do not accept US or Canada NRIs for mutual fund investments including SIP due to FATCA compliance. Franklin Templeton India and a few others historically accepted US NRIs — check current AMC policy at the time of investing.

What happens to my SIP if I return to India?

Update your KYC from NRI to resident and change the bank mandate to your resident savings account. The existing SIP units continue as-is with the same holding period history.

Can I do a SIP in ELSS for 80C tax saving?

Yes — ELSS SIP is popular for 80C. Each monthly SIP instalment has a separate 3-year lock-in from its allotment date. US/Canada NRIs face the same AMC restrictions for ELSS as for other equity funds.