Before you start

PAN, or a filed Form 49AA application
Passport with a valid long-term visa and the e-FRRO registration certificate
Proof of a Kochi address
An Indian mobile number, which UPI depends on

Step-by-step

1
File Form 49AA for PAN before approaching a bank
Foreign nationals cannot use the free Aadhaar-based instant e-PAN. Form 49AA through Protean or UTIITSL uses the passport as identity proof, and the e-PAN PDF usually arrives before the card.
OnlineWho: YouWeek 1
2
Ask explicitly for a RESIDENT savings account
Employment in India generally makes you a person resident in India under FEMA from arrival. In Kerala the default assumption at the counter is often NRE or NRO, because most cross-border customers here are Malayalis working in the Gulf. Say plainly that you live and work in India.
In personWho: You
3
Pick a bank with a proper foreign-national desk
Federal Bank and South Indian Bank are Kerala institutions with deep cross-border experience; HDFC, ICICI and Axis branches in Ernakulam and Kakkanad handle foreign KYC routinely. A small branch out of town may take considerably longer.
In personWho: You
4
Complete KYC in person with originals
Passport, visa, FRRO registration, PAN, address proof and photographs. Address verification sometimes involves a physical visit. Expect days rather than minutes.
In personWho: You
5
Set up UPI the moment the account is live
Link the account in Google Pay, PhonePe or Paytm using the Indian mobile number registered with the bank. UPI is universal here — fish stalls, autorickshaws, the Water Metro, hospital counters. It is the single biggest quality-of-life step of your first month.
Mobile appWho: YouWeek 2
6
Understand the outward remittance route before you need it
India operates capital controls. Sending salary or savings abroad requires documentation on source of funds and tax paid. Ask your bank how it works while nothing is urgent — Kerala branches do this constantly and will explain it well.
In personWho: You

Documents you’ll need

PAN card or e-PAN
Passport with valid visa
e-FRRO registration certificate
Proof of Kochi address
Passport photographs and completed KYC forms

Things most newcomers don’t know

Kerala banks will reach for an NRE account by reflex, and it is the wrong product for you.

Nearly a fifth of India's inward remittances land in Kerala, so an NRE account — foreign-currency-funded, freely repatriable, interest tax-free in India — is the default mental model at the counter. But NRE is for people resident outside India. A foreign national employed in Kochi is resident under FEMA and needs an ordinary resident savings account. Taking the wrong product creates repatriation restrictions and a tax problem that is tedious to unwind. Say it in the first sentence.

Source: Reserve Bank of India — FEMA deposit regulations

FEMA residence, tax residence and immigration status are three different tests that disagree.

Your visa governs what you may do; the Income Tax Act counts days in an April-to-March year; FEMA asks whether you came to India to take up employment or to stay for an uncertain period. You can be a tax non-resident and a FEMA resident in the same week. The bank only cares about the FEMA answer, so get the classification confirmed in writing.

Source: Reserve Bank of India — FEMA

Kerala's gold-loan sector is a genuine financial institution, not a pawnshop.

Muthoot and Manappuram, both Kerala-founded, are among the largest gold-financing companies in the world, and borrowing against gold is an entirely mainstream, regulated form of short-term credit here rather than a distress product. It is worth understanding because it explains a lot about how local household finance works — and because gold in Kerala is a savings instrument first and jewellery second.

Source: Reserve Bank of India — NBFC regulation

UPI covers even the informal economy here more completely than in most of India.

Kerala's combination of near-universal literacy and very high smartphone penetration means the QR code has reached the fish market, the toddy shop and the ferry ticket counter. You can genuinely live here without cash. Since UPI needs an Indian bank account linked to an Indian mobile number, that chain — address, registration, bank, SIM — is what your first fortnight is actually for.

Source: National Payments Corporation of India — UPI

Common mistakes to avoid

Accepting an NRE or NRO account when you are FEMA-resident and employed in India.
Approaching a bank before the PAN application exists.
Using a small branch that has not processed a foreign passport recently.
Ignoring the minimum average balance and collecting monthly penalties.
Assuming money can be sent abroad on demand without documentation.

Some of this may be out of date. Spotted something inaccurate? Help us keep it right for the next newcomer.