Open a Canadian Bank Account from India (2026)

Key takeaways

RBC (online), TD (by phone) and ICICI Bank Canada (at an ICICI branch in India) all accept people in India before they move
RBC accepts up to 3 wires and $75,000 (CAD) in total, in Canadian dollars only
India’s Liberalised Remittance Scheme (LRS) allows up to USD 250,000 per person per financial year, and you must give your PAN
Once you become a non-resident, your Indian savings accounts should be changed to NRO accounts
Each route has a deadline: visit a TD branch within 75 days; give ICICI Bank Canada your documents within 180 days

Which Canadian banks accept applications from India?

Our general guide to opening an account before you arrive explains how pre-arrival accounts work. This page adds what is specific to India. Here are the options we could confirm on October 10, 2026.

Bank	How you apply from India	Money in before arrival	Deadline after opening
RBC	Online. India is one of the 9 countries on RBC’s eligible list	Up to 3 wires, up to $75,000 in total, in CAD only	Activate in a branch. The points offer needs activation within 12 months
TD	By phone. Call collect on 416-351-0613. Only people in China or India can do this	Ask TD when you call	Visit a TD branch within 75 days of set-up
ICICI Bank Canada (Hello Canada)	At any ICICI Bank branch in India. You open a Canadian dollar account	You can send money into the CAD account before you leave	Submit activation documents within 180 days of opening
BMO	Online, for residents of “qualifying countries”. BMO’s April 2023 announcement named India among 13 countries. Its current page does not name countries	Up to $75,000 (CAD)	Ask BMO
CIBC Smart Arrival	Online, from countries on CIBC’s eligible list. You need your UCI number from IRCC	One wire, in CAD	Within 12 months, or the account closes
National Bank	Online. The page has an option for people arriving in less than 90 days and names no country list	One wire, bank to bank	Applications from outside Canada close November 3, 2026. Finish in a branch after arrival

International students have one more choice. Scotiabank’s Student GIC Program accepts residents of India. Read how a student GIC works.

How does the ICICI Bank Canada route work?

ICICI Bank Canada is the Canadian arm of the Indian bank. Its Hello Canada service lets you open a Canadian dollar account at an ICICI branch in India. You must hold a Canadian visa valid for more than 6 months, for permanent residence, work or study.

At the branch in India, ICICI asks for:

Your valid Indian passport
Your Canadian visa (student, work or permanent resident)
Your university admission letter, employer letter or COPR
Proof of your address in India

There is no opening charge and no minimum balance before activation. The account pays no interest until you activate it in Canada. After you land, you can withdraw up to $5,000 (CAD) before activation. To activate, ICICI asks for your PR card or immigration document, your passport with the entry stamp, and your Social Insurance Number (SIN) letter. This is ICICI’s own rule; most banks open a basic account without a SIN.

RBC and ICICI Bank Canada also have a partnership that lets clients link accounts at the two banks. RBC’s page does not explain how the link works, so ask either bank for details.

What documents do you need?

Every route needs your passport and one Canadian immigration document. RBC says your passport must be valid for more than 6 months. Its list of status documents:

Permanent residents: COPR, PR card, Record of Landing (IMM 1000), an IRCC confirmation or acknowledgment letter, or a Port of Entry letter
Foreign workers: work permit (IMM 1442), IRCC acknowledgment letter or Port of Entry letter
Students: study permit or IRCC letter, plus a letter of acceptance or enrolment for the current year

RBC also needs a mobile phone with a camera to check your ID. You must submit a tax residency declaration within 90 days of opening. If you do not, RBC restrains the account. You cannot then send money in or activate it. TD asks you to have your Canadian immigration visa ready when you call. We did not see a SIN in the RBC, TD or CIBC pre-arrival requirements. For the full list of ID Canadian banks accept, see what ID you need to open a bank account.

How do Indian rules affect the money you send?

The Reserve Bank of India (RBI) sets the rules. While you are still a resident of India, you send money abroad under the Liberalised Remittance Scheme (LRS).

Limit: up to USD 250,000 per person per financial year (April to March). The RBI FAQ says minors are included.
PAN: you must give your Permanent Account Number for every LRS transaction.
Purpose: emigration is a listed purpose, but it counts inside the same USD 250,000 limit.
Account abroad: you do not need RBI approval to open or hold a foreign currency account abroad for LRS money.

Tax collected at source (TCS) can apply to LRS payments. The rates changed in Budget 2026. See TCS after Budget 2026 before you send a large amount.

Worked example

Priya is moving as a permanent resident. She wants $60,000 (CAD) in her RBC account before she lands. This is under RBC’s $75,000 cap. She can send it in one to three wires. Her Indian bank must convert the rupees and send Canadian dollars, because RBC rejects other currencies. The amount is also far below the USD 250,000 LRS limit. She keeps the bank’s LRS form and wire receipts. Her Canadian bank may ask where the money came from. Our full guide covers bringing money from India step by step.

What happens to your Indian bank accounts after you move?

When you become a non-resident, your accounts in India do not change by themselves. The RBI FAQ (as on January 16, 2025) says your existing resident account “should be designated as NRO account”. Tell your Indian bank after you leave.

NRO (Non-Resident Ordinary) accounts hold income earned in India, such as rent or interest. You can send up to USD 1 million per financial year from NRO balances and other eligible assets.
NRE (Non-Resident External) accounts hold money earned abroad. NRE money is fully repatriable.

The choice affects tax in both countries. Read NRE vs NRO accounts for Indians in Canada for the details.

Can your Indian credit history help in Canada?

Usually your Indian credit score does not move to Canada. Some banks work with Nova Credit, a company that turns a foreign credit report into a report Canadian lenders can read. BMO’s 2024 announcement listed India among nine countries. A Scotiabank announcement from 2024 also named India. Check which cards accept it today in transferring your foreign credit history.

Common mistakes to avoid

Sending rupees or US dollars to RBC. RBC accepts Canadian dollars only and rejects other currencies. CIBC also accepts only CAD.
Missing a deadline. TD gives 75 days to activate. ICICI gives 180 days. RBC restrains accounts with no tax declaration after 90 days.
Paying an agent. Banks do not charge to open an account. Apply only on the bank’s own site, by its listed phone number, or in its branch.
Carrying cash. Cash or cheques worth $10,000 (CAD) or more must be declared when you enter Canada. See declaring money at the border.

Offer as of October 10, 2026. RBC gives up to 30,000 Avion Rewards points for an eligible account opened online before arrival. The account must be opened between July 27 and November 2, 2026. You get 15,000 points for activating in a branch within 12 months. You get 15,000 more for a deposit of at least $2,000. TD’s newcomer offers end November 2, 2026. National Bank says pre-arrival applications and the pre-arrival wire are available only until November 3, 2026. Banks change offers often; confirm on the bank’s site.

How we handle offers. Offers on this page come from each bank’s own website and were last checked on October 10, 2026. Banks change offers often, so confirm the details on the bank’s site before you apply. No bank pays to be included or ranked here. If a link on this page ever earns us a commission, we will label it next to the link.

Common questions

Can I open a Canadian bank account while I am still in India?

Yes. RBC accepts online applications from India. TD sets accounts up by phone for people in India (call collect 416-351-0613). ICICI Bank Canada opens Hello Canada accounts at ICICI branches in India. You finish the set-up in Canada.

How much money can I send to my RBC pre-arrival account?

Up to $75,000 (CAD) in total, in up to 3 wire transfers, in Canadian dollars only. Wires in other currencies are rejected.

Does the LRS limit apply when I emigrate?

Yes. The RBI lists emigration as a purpose under the Liberalised Remittance Scheme, inside the USD 250,000 per financial year limit. You must give your PAN.

Do I need a SIN to activate my account?

Most banks do not need it for a basic account. ICICI Bank Canada lists the SIN letter among the documents for activating a Hello Canada account.

What should I do with my Indian savings account after I move?

The RBI says a resident account should be designated as an NRO account once you become a non-resident. Ask your Indian bank to change it.

Sources

Checked against these sources on October 10, 2026. Spotted something out of date? Tell us.

Opening a Canadian bank account from India before you move