- NRE Rupee Deposit
- NRE Recurring Deposit
- NRO Rupee Deposit
- NRO Recurring Deposit
- Foreign Currency Non Resident (FCNR) Deposit
- NRI Pro Foreign Currency Deposit
- NRI Pro Rupee Deposit
- Resident Foreign Currency Term Deposit
- Fixed Deposit Plus
Getting an opportunity to move overseas is a bitter-sweet experience for your aging parents, isn’t it? On the one hand, they are excited about the new career heights that you are embracing; on the other hand, they may feel insecure about their lives as they know that from now on, they would have to take care of every little thing themselves, without your help.
Here are a few practical tips that will help you assuage their fears and prepare them for your upcoming transition.
Nothing is more comforting for parents than knowing that they can communicate with their children whenever they please. Before your move, give your parents a brief 101 lesson on using various technologies such as email, instant messaging, sharing images and documents, and using video chat services. Download resourceful apps on their mobile that will help them stay connected.
If they don’t use them yet, help your parents get acquainted with using their debit/ATM and credit cards. Orient them to essential internet banking services and download the mobile banking application for them, so they can conveniently manage their finances from the comfort of their homes. Most importantly, teach them best practices for safe online banking, so they feel confident making a transaction when you are not around.
Moreover, before you move abroad, you will need to convert your existing savings account into a Non-Resident Ordinary (NRO) Savings account and open NRE account; these will enable you to make deposits from an overseas account and remit money back home. You can authorize your parents to conduct transactions on your behalf, if required, ensuring smooth banking experience. Also, introduce them to your Bank’s Relationship Manager, who can help them out whenever needed.
It is important that your parents undergo periodic preventive health check-ups. Before you leave the country, help them organize their recent medical records, prescriptions, and health insurance plans, so these documents can be kept handy. When you move abroad, set up weekly reminders to check with them about their health updates.
Create a list of trusted SOS contacts your parents can reach out to in case of an emergency; this should include your local neighbors, relatives, friends, safety helplines, as well as your prospective flat mates. Be sure to keep this list offline so that they can access it anytime.
Make a list of contact details of all the handymen and local service providers such as electricians, plumbers, appliance repair vendors, newspapers vendors, and cable TV & broadband provider. If you have an ongoing subscription, collate details of renewal fees and when they are due. This list will make it easy for your parents to get resolutions for their problems when the need arises.
The above tips are just small ways to make your parents feel at ease. These gestures will show them that even though you are moving out, you care for their comfort and safety and will always be there for them. So, go on, use these practical tips and make that big move easier for your parents!
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