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Nri bank info and loan update

This query is : Resolved 

hello, if i become nri is it mandatory to tell bank that i have become nri?
if required then in how much time?
if i have any loans running for business or home loan will i have to close or those will continue?

i have been paying all my emis timely and will continue but don't want to close just because i become nri.

Yes, it's mandatory inform within 6 months. Your savings account has to be converted as NRO account.
No need to close loan Accounts, you can continue and make repayments.

and sir if i someone fails to inform then what issue happens?

Contact your bankers for advice in such a case.



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