You need to contact your bank to re-designate your account to an NRO bank account. Alternatively, you can open an NRE account if you wish to do so. Both the NRO and NRE accounts can be used for investing through moneyguru.
Once your new bank account is in place, you need to update your KYC and change the tax status to NRO/NRE.
Moneyguru makes your KYC process easier. You can download the KYC Updation form available inside your moneyguru account and send us the correctly filled form along with a self-attested copy of your
1. Overseas address proof (any government issued address proof e.g. driver license). If any overseas address proof is not available, an acknowledgement from the Indian embassy or consulate in that country stating your current overseas address will also suffice.
2. Valid Indian passport (both sides)
3. A cancelled cheque with your name printed (preferably), or bank account statement
Please note that investments made using resident savings account will be detailed in your “My Portfolio” section. However, should you wish to withdraw these investments, the proceeds will be credited to your NRO bank account. These proceeds cannot be credited to your Non-Resident External (NRE) bank account, in order to abide by the foreign exchange laws in India.