Best Bank Account in India for High Net Worth NRIs

 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 much more. 

  • SBM World Debit Card- In association with Mastercard, it allows you to enjoy unique lifestyle experiences with unlimited free withdrawal at all banks’ ATMs, zero mark-ups on international transactions and much more. 

  • Offers- SBM Private Wealth comes with a wide range of offers- from travel offers to X-border offers- especially for the HNIs to enjoy. 

  • Signature experiences- Just as you sit down to think what more you can avail from SBM Private Wealth, it offers a signature experience for everything you do-from taking cooking classes to experiencing gourmet on tours. 

Why should you invest your Overseas Earnings in India?

If you are an HNI looking for reasons and avenues to invest in India, here are some reasons why you should do so: 

  1. Real Estate

Real estate has been a good investment option in India for decades.While residential real estate has been the most preferred and safest investment option, commercial real estate is also emerging as a new one. 

  1. Equity markets

Among the Rs 1 trillion-plus markets,India is like a tax haven when it comes to investing in equity. NRIs or Indian residents enjoy several tax benefits when they invest in equity markets: tax-free long-term capital gains while short term gains taxed at 10%; dividend distribution tax at 15%; repatriable capital when investments are made from NRE Savings Accounts. 

  1. Directly

HNIs who possess relevant experience can invest directly in stocks, while first-time investors can invest directly in shares of companies with strong fundamentals.

  1. Mutual funds

If directly investing in the market is not your cup of tea, then investing through mutual funds is the most suitable option where you can either invest a lump sum or in segments through a systematic investment plan.

  1. Sovereign gold bonds

Popularly known as ‘paper gold’, these gold bonds are issued by the Government of India which you can buy online and earn an assured yield of 2.5% per annum interest.


NRE Savings Accounts are the best option exclusively for Non-Resident Indians or NRIs to park and manage the foreign earnings in India, denominated in INR, with exempted TDS and repatriable interest and principal amounts. These are the best NRI banking services for HNI for cost-effective remittance arrangement to transfer funds for investment through their NRE Savings Accounts.

Comments

Post a Comment

Popular posts from this blog

Why is India a Good Destination for Investment

Image
India continues to be an attractive destination for the investors, and form a huge part of the world’s fastest-growing economies. Indian residents and Non-Resident Indians(NRIs) are actively looking to earn money by Investing in India. Also, if the investments are made by NRIs then it is treated as ‘foreign investments’ as per the Indian foreign exchange regulations, making India one of the top recipients of  foreign remittances   from its diaspora. Here are some reason why India is a good place for investment:- Indian economy is one of the world's fastest-growing economies According to the Department of Promotion of Industry and Internal Trade, India has crossed the $70 Bn mark in the Fiscal Year 2019-20 and recorded a total FDI inflow of $73.45 Bn, ranking amongst the top countries for investments by leading investors. Indian infrastructure story More than $1.5 trillion investments have been planned for Indian infrastructure for the next two decades across the key government...
Read more

All you need to know about an FCNR Account.

Image
  Providing NRIs with lucrative returns without much hassle was the main objective with which the FCNR account was first introduced. This primary objective still holds.  What is an FCNR Account? FCNR stands for Foreign Currency Non-Resident Account. It is a term deposit account popularly known as an FCNR deposit . These fixed deposit accounts are opened for depositing foreign currency income earned overseas. The account is maintained in the same foreign currency as deposited.  NRIs (Non-Resident Indians) and PIOs (Person of Indian Origin) are eligible to open an FCNR account with an authorized bank or dealer.   FCNR account is more beneficial to those NRIs who are sure to repatriate their funds from the account on maturity. Also, FCNR deposits are a good option for NRIs who are looking for a secure hassle-free fund deposit option in India. You can book your FCNR Account in  US Dollars Canadian Dollars Australian Dollars Pound Sterling Swiss Franc Euro Japan...
Read more

What are the benefits of opening an NRI account?

Image
NRI account s can be opened by Non-Resident Indian who reside outside the geographic territory of India. This account facilitates account holders to manage transactions in the currency of their country of residence. There are types of NRI saving account one can opt to open: NRE Account NRO Account NRE Account: NRE (Non-Resident External) account is accessible to deposit overseas savings as rupee dominated. It is an account opened in India in the name of NRI. One can open a joint account between two Non-Resident Indians or a Person of Indian Origin with the SBM NRE savings account . Benefits of NRE account: Interest 6% p.a. with monthly payout of interest Tax-free returns Fully repatriable Competitive forex rates Dedicated Relationship manager Preferential pricing on a host of products and service Premium privileges with Personal concierge NRO Account: NRO (Non-Resident Ordinary Rupee) is an account opened in India by the name of NRI to manage the income earned in India. That earning c...
Read more