An Indian citizen or a foreign citizen of Indian origin who stays abroad for employment/carrying on business or vocation or under circumstances indicating an intention for an uncertain duration of stay abroad is a NON-RESIDENT INDIAN (NRI).(Those who stay abroad on business visit, medical treatment,such other purposes which do not indicate an intention to stay there for an indefinite period will not be considered as NRIs).
Integrated Voice Response
System (IVRS) for NRIs.
Benefits of banking with us We operate worldwide through the most extensive network which has spread over all time zones, you can rest assured that we are best placed to serve Non- Resident Indians like you with a wide range of deposits and investment banking services and to enable you to earn interest rate amongst the highest offered anywhere in the world.Come across and call us up anytime. We will see your transaction through better because we speak the same language. We will assist you in opening of NRI accounts in any of our more than 9000 branches.
NRI’s SERVICES NRI’s can open the following types of accounts with any of our branches in India.
- NRE Rupee accounts.
- Savings Bank.
- Current Accounts.
- Term Deposits
- Special term Deposits.
- Non-Resident (ordinary) Accounts.
- Foreign Currency Non resident Accounts in pound Sterling, US Dollar, Euro, Canadian Dollar and Australian Dollar.
Tax benefits for NRIs
- Interest on NRE and FCNR are not subject to Income Tax in India.
- Tax @ 30% will be deducted at source on all interest income in NRO accounts.
- On permanent return to India, income on all investments out of foreign exchange funds would be eligible for a flat tax rate of 20% (excluding surcharge) till maturity of investments.
We facilitate NRI Housing Term Loan through a branch of your choice
To get more details about NRI Services by State Bank of India, please click here. You may please visit SBI NRI Services, a NRI portal of State Bank of India at www.onlinesbi.com/nri to view the details of various banking facilities offered by State Bank of India to NRIs.