Before you start

PAN card
Passport with valid visa and FRRO registration
Proof of Pune address
Passport photographs and completed KYC forms

Step-by-step

1
Apply for the PAN card first
Nothing else moves without it, and its absence means a higher rate of tax deducted. Foreign nationals can apply online.
OnlineWho: YouWeek 1
2
Use a branch near a university or the IT parks
Branches serving Symbiosis, Pune University and the Hinjewadi and Kharadi corridors process foreign KYC regularly. A neighbourhood branch in the Peths may take considerably longer.
In personWho: You
3
Confirm your FEMA account classification in writing
Your residential status under the Foreign Exchange Management Act determines whether you open a resident savings account or an NRO/NRE account. Students on a student visa have a different position from employees — ask specifically.
In personWho: You
4
Complete KYC in person with originals
Bring passport, visa, FRRO registration, PAN, registered agreement and photographs. Address verification may involve a visit.
In personWho: You
5
Set up UPI immediately
The Unified Payments Interface handles almost every payment in India, instantly and free. It needs an Indian account and a linked Indian mobile number, and it is the biggest quality-of-life step of your first month.
Mobile appWho: YouWeek 2
6
Ask about repatriation before you need it
India has capital controls. Moving money abroad has documentation requirements and a defined route for salary income.
In personWho: You

Documents you’ll need

PAN card
Passport with valid visa
FRRO registration certificate
Registered leave-and-licence agreement as address proof
Passport photographs and completed KYC forms

Things most newcomers don’t know

Student accounts have lower balance requirements, and the university branches know it.

Banks offer accounts with reduced or waived minimum average balance thresholds to students, and the branches serving Pune's universities open them routinely for international cohorts. If you are here to study, ask specifically rather than being sold a standard savings account with a metro-tier balance requirement.

Source: community-reported

UPI is the single most useful thing to set up.

India's instant payment system works from a phone, is free, and is accepted almost universally. It requires an Indian account plus a linked Indian number.

Source: National Payments Corporation of India — UPI

Your FEMA status, not your visa, decides the account type.

The Foreign Exchange Management Act has its own residency test, separate from immigration and income tax. Employment generally makes you FEMA-resident; a student's position differs. Get the classification confirmed in writing.

Source: Reserve Bank of India — FEMA regulations

Pune's minimum balance thresholds are lower than Mumbai's.

Banks tier requirements by city category, and Pune sits below Mumbai. Combined with roughly half the rent, it is part of why the same salary goes considerably further here than 150 kilometres west.

Source: Reserve Bank of India — customer service

Common mistakes to avoid

Trying to open an account before the PAN card exists.
Being sold a standard account when a student account with a lower balance requirement applies.
Getting the FEMA account classification wrong.
Falling below the minimum average balance and collecting penalties.
Assuming money can be moved 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.