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SBI NRI / NRE Account Opening

To open an NRE account please complete the account opening form  and mail it to the branch of your choice along with
  • Passport copy
  • Visa/residence permit
  • 2 photographs
  • Initial Money Remittance
Your signature may be verified by anyone of the following
  • Indian Embassy/consulate
  • Any person known to the Bank
  • Notary public
  • Any of our offices abroad

You can open

  • NRE Saving Bank a/c / Current Accounts
  • NRO accounts (Rupee accounts for crediting income in India )
  • FCNR - Fixed Deposits in Indian Rupees & Foreign Currency

Understanding NRI Accounts

The NRI Term refers to the Person Who Stays Outside India and NRI is not the Account Type, but the Person who open the account.

NRI Users are having 4 Different Account Opening Options, they are called NRI Accounts.
Following are the different NRI Account Type available for NRI Person
  1. Foreign Currency Non-Resident Account (FCNR).
  2. Non-Resident External (NRE) Rupee Account.
  3. Non-Resident Ordinary Account (NRO).
  4. Resident Foreign Currency (RFC) Account for returning Indians.

Minimum Balance

Its Zero balance and Non Expiration Account.

Tax Free

NRI Accounts are all Tax Free (NRE,NRO,FCNR,RFC) and Interest Generated from these account are also Tax Free.

Maximum and Minimum Deposit

There is No Limit on Minimum Deposit and Also No cap for Maximum Deposit.

FCNR Account is simply for the use of Foreign Currencies. More than 10 Currencies are supported Till now. 

RFC Account is also Foreign Currency Savings Account, but difference is it is having only three currency options.

NRE is for the Person Who is from India and very rarely returning to India.

NRO is for the person who is from India Living outside India and Frequently Visits India.

Forms Download

Step 1: Download the Application form. PDF
(or) view https://www.onlinesbi.com/nri/
Step 2: View NRI Account opening Form and Fill it.
Post to your Bank.
Here is How SBI NRI FORM Looks











FCNB ACCOUNT OPENING FORM ( FOR NON RESIDENT INDIANS ) 

Download NRI  Account Opening Form

SBI Money transfer Form Download
Download this SBI Money transfer form

Application Form For Opening RFC Account

Thats it.

1 comment:

  1. When NRI is Taxable.?

    Interest income on RFC deposits is taxable when the NRI loses RNOR (resident not ordinarily resident) status and becomes an ordinary resident.

    ReplyDelete