NRI Banking

  Most Non-Resident Indians have families back in India, especially elder parents. Taking care of them from a different part of the world might seem challenging, but it’s a lot easier if you have a good health insurance plan in place. Non-Resident Indians can buy health insurance for their parents in India even when they live overseas and can even manage various payments in India no matter where they are in the world. It is always recommended to get health insurance for your parents, especially in sensitive times like these, it’s always good to be prepared with a solid insurance plan which offers state-of-the-art healthcare facilities so that you can rest assured. Good health insurance will also protect you and your parents from exorbitant charges in case of hospitalization. However, it is important to choose the right insurance plan for your parents. You can go for an individual plan or could also opt for a family health plan and add your parents as dependents. A senior citizen he...

  Just like there are various types of bank accounts for Indians living in the country, there are different types of NRI accounts for Indians living abroad to help manage their money back home in India. To understand the different types of bank accounts an NRI can open in India, first, let us understand who qualifies to be an NRI. When an individual stays out of the country for at least 120 days in a year and less than 365 days in the previous 4 years, their residential status changes to Non-Resident Indian (NRI). Any NRI is qualified to open an NRI account with various banks in India. Banks such as SBM Bank India offers a range of NRI Savings Accounts with competitive interest rates and many more benefits that help make managing funds back home easy. Based on their investment and financial needs, NRIs can opt for any of the following accounts. NRE Savings Account A Non-Residential External Savings Account or NRE Savings Account is opened by NRIs to maintain earnings from their...