How to open NRI Savings account from Overseas

 Being an NRI or Non-resident Indian you might worry regarding your investments and savings in India. SBM Bank understands your needs and offers NRI savings accounts to suit your requirements and convenience while you’re living abroad.

NRIs are allowed to open NRE and NRO accounts, either savings or fixed deposit accounts, as per their wish. However, since you’re living outside India, it is obvious that you will find it difficult to visit the bank in India to complete the account opening formalities. Here’s where SBM Bank comes to the scene and offers you a simple way to open your NRE or NRO savings accounts just by sitting at home.

Though both these accounts are specially catered to NRIs, NRE (Non-Resident External) accounts and NRO (Non-Resident Ordinary) accounts differ in many ways from each other. Like in NRE savings account, you cannot deposit your earnings in Indian currency, but in NRO savings account, you can. You are also allowed to transfer funds from your NRE account to an NRO account. The NRE savings account interest rates vary with that of an NRO account. Only interest generated income can be transferred in NRO but principal and interest both can be transferred in NRE.

SBM Bank offers an exclusive range of benefits with their NRI savings accounts for your comfort and hassle-free banking. You just have to follow these steps and apply for an NRI account online through their website here

1. Download the form to open a Nri savings account

download the form to open an nri savings account


If you’re in India, you can visit the branch and obtain the hardcopy of the form. Otherwise, you can visit their website mentioned above, and download the form shown above. Fill it up and submit. There is also the option of filling the form online.


2. Upload all the necessary documents necessary for NRI savings account

upload all the necessary documents


Just like other accounts, the opening of NRI savings accounts also requires certain documents to be produced/uploaded along with the application form. These include: approved proof of identity, proof of NRI or PIO status (through passport with a valid visa or PIO card), approved proof of address, and payment instrument for initial contribution.

3. Attestation of all the necessary documents

You would also be required to get these documents attested by either the Indian Embassy or Notary or by a Banker overseas in your country. Some banks also allow additional proofs which are self-attested.

4. Additional KYC along with the documents


you will need kyc too


Your bank might require you to fill an additional KYC format to disclose tax residency status and related details. For this, you might need to provide them with additional proofs and documents.

5. Dispatch an attested copy of your documents

Dispatch all the copies of documents

If you can dispatch the form along with the mentioned documents to the bank branch, that would be the final step. Otherwise, you can also drop your application in a post box with the PO Box number if provided by your bank.

While opening any of the NRI saving account, remember that account opening usually takes time it is done without meeting the NRI face-to-face. You can always reach your bank for any assistance regarding account opening formalities through their NRI helplines.

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