NRI Banking

  The New Year is about new beginnings. While most of us are planning the things we want to achieve in the year 2021, we also need to think about our finances and make crucial financial resolutions to ensure we have better years to come.  This blog will walk you through some crucial financial resolutions that you need to adapt to your new year’s resolutions. Financial resolutions for NRIs that will make your life better. Invest in health insurance Health insurance is an essential part of NRI financial planning . Getting adequate health insurance for you and your family is probably the most important financial decision that you will make. Health insurance costs very little, and it is a safety net that takes care of you and your family in times of need.  Be careful about the plans you choose; consider your family’s health requirements.  Get a contingency fund. After health insurance comes to a contingency fund, but what is a contingency fund? A contingency fund is your...

  Sending money to India from abroad seems difficult as one has to wait for the right exchange rates, the transaction/operational costs associated with the money transfer, along with the duration within which the money should reach the recipient. But with the advent of technology, money transfer has now become way more hassle-free and much easier. Now remitting money back home can be done through convenient modes offered by the SBM Bank.  Some of these avenues are: SBM Remittance Services  SBM Bank provides an online transfer facility through SBM Remit, which enables the NRIs to send money to India from Mauritius, Europe, UK, Japan, the United States, and Australia. Moreover, the remitters can also transfer money to their NRE savings account in India. The transactions are fully secure and encrypted and the data is protected by advanced firewalls.  Online Transfer Probably the easiest way to transfer money is through online mode using your local bank’s inte...

  For high net worth individuals (HNWIs) who want to invest in the Indian market, private banking offers information and recommendations on what may be the most appropriate investment options for them.  NRI banking services for HNIs are best provided by SBM Private Wealth Banking which comes with more personalized financial services through dedicated banking personnel who take care of all their banking needs.  Banking Services Offered to HNI's The HNIs who prefer lifestyle privileges and expert assistance, SBM Bank’s Private Wealth privileges offer exclusive banking solutions to the NRIs. Let’s see what they come with:  Expert assistance- SBM Private Wealth’s experts facilitate assistance in important matters like managing property in India, FEMA consulting, tax filing, and much more.  Personal Concierge- Through a personal concierge, you get: expert assistance in investment planning, travel privileges, medical assistance, stay benefits, exclusive events, and m...

  Moving abroad can be exciting, full of new opportunities, with a bright future. But, if you ask your parents, it is a bitter-sweet experience for them. On the one hand, they have their kid's bright future to look forward to; on the other hand, the idea of you moving away for months at length can be quite daunting.  So, what can you do to make this transition easy for them? Here are a few things to do before moving abroad to ease your parents into this transition: Show them you are responsible: Most Indian parents believe that their kids are helpless without their presence. It gives them a reason to worry about your life in an entirely new city or country. Change that! Take responsibility for your life and actions. Start small, like making your bed, managing and saving your pocket money or income, neatly completing tasks asked of you.  Discuss your plans with them: Every little detail matters here. The more you discuss your plans, the better they are aware of your future...

  Gone are the days of carrying multiple currencies for international Indian travellers. With today’s banking advancements, global travellers and NRIs can opt for International debit cards .  This blog will walk you through the best international debit card - SBM International Debit cards and talk about SBM International Debit cards’ benefits.  What is the SBM International Debit card ? And who can benefit from an SBM international debit card? SBM International Debit Card is for Indian who love travelling internationally and NRIs. SBM International debit card offers you exclusive access to the life of your dreams. Full of rich experiences and moments unique to you.  In a single SBM International Debit Card, you enjoy dual benefits, unique global experiences powered by zero-mark up on international transactions, exclusive privileges which can make your travel more exciting.  Why SBM international debit cards are the best debit cards for international travelle...

  Non-Resident Indians who are keen to invest in the Indian stock markets can now get it done seamlessly. There are few ways by which they can handle the procedure and paperwork essential for the same. These efficient ways allow NRIs to make their investment in the stock markets of India efficiently. In this article, We've shared some effective ideas for NRI investment in India. Make use of a Mandate Holder If you opt for portfolio investment services Investment, Then having a mandate holder is the best assistant to operate the NRE accounts . All the NRI investors can seek to appoint a mandate holder to take care of their wealth. The respective appointment is to be signed by obtaining the form from the bank. KYC documents are a must to verify the credentials of NRI. The mandate holder will also sign the form for proceeding with the registration process. Now, the mandate holders can issue cheques, draw cheques, handle payments, and use the cards on behalf of NRI. There are banks an...