NRI Banking

SBM Bank offers a diverse range of banking solutions to the Non-Resident Indians (NRIs) and aims to make banking easier and more comfortable. No matter what your lifestyle, SBM Bank offers attractive   lifestyle benefits for NRIs .  From shopping, dining out, movies, traveling to anything else, SBM Private Wealth brings you the SBM World Debit Card in association with Mastercard and offers the finest experiences and privileges for all members who enjoy  priority banking .  SBM World Debit Card Benefits: SBM Private Wealth offers an exclusive and premium range of  lifestyle benefits  across travel, stay, dining, fashion and more.  Welcome aboard offers of over INR 10,000.  Unlimited free withdrawal at ATMs of all banks.  Zero cross-currency mark-up on international transactions.  Enable experiences across 77 countries- From taking a cooking workshop to hitting the road on a supercar in Singapore, get similar exciting and unique experience...

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 takes 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...

  There are many schemes and offers for Non-Resident Indians (NRIs) to buy property, mortgage or apply for loans. Similarly, for investing in Indian stocks and bonds the NRIs can apply for the scheme given by the Reserve Bank of India (RBI), that is the Portfolio Investment Scheme (PIS). What is the Portfolio Investment Scheme (PIS)? The Reserve Bank of India (RBI) enables NRIs to invest in stocks and mutual funds of their favorite companies in India through a recognized stock exchange by directing these transactions through their  NRI savings accounts . However, they should have these  NRI savings accounts  with designated bank branches only which are present worldwide. Let’s see  what the Portfolio Investment Scheme  comes with: For transactions through a recognized stock exchange, the NRIs would need to set up  NRI savings account  with the designated bank having a global presence, like SBM Bank. For portfolio investments in the secondary marke...

  FCNR Account  have become a popular tool for investment for NRIs in India, especially after the Union Budget 2019. The revised interest rates and merging of foreign portfolio investments (FPI) with NRI portfolio investments have made these accounts the topmost investment options for NRIs. What is the FCNR Account? FCNR is an acronym for Foreign Currency Non-Resident (FCNR) bank (B) account, which is a term deposit account that allows the Non-Resident Indian (NRI) or a Person of Indian Origin (PIO) to transfer their foreign income to India in the same currency in which they are earning. This protects them against exchange rate risks. Features of FCNR account FCNR is a foreign currency-denominated account, where you can invest in your resident currency. FCNR deposit accounts  are not a savings account and have a minimum tenure of 1 year and a maximum of 5 years. No need to pay income tax on interests earned from FCNR accounts. Both principal and interest are freely repatr...

  NRIs (Non-Resident Indians) who want to keep their India based earnings in India, usually hold either NRE or  NRO savings accounts . These are fairly popular deposit options exclusively available to them which give them a good rate of return and place their funds in India. An  NRO savings account  is a Non-Resident Ordinary Rupee Account, usually opened by an NRI to manage the income in any form (like rent, pension or other types of dividends) that is earned in India. Hence, such an account helps them in two ways: they can send their earned money to India from the resident country, and retain their income earned through other assets in India. How to open an NRO savings account The candidate (here, NRI) has got two options to open his  NRO savings account : He/she can either convert his/her existing resident account in India to  NRO account , Or he/she can open a new  NRO account . These options would require the candidate to submit the documentary pr...

  If you’re moving to a foreign country and are worried about managing your banking services in India, then SBM Bank has got your back. They offer a wide range of  NRI banking services  which cover everything from banking to investment to loan. SBM Bank aims to offer convenient and rewarding investment schemes and products to its customers whether you are in India or anywhere else. They offer attractive interest rates and world-class privileges on their deposits and accounts, along with 24*7 strong customer support and hassle-free management. NRI saving account SBM Bank offers NRIs the best options for banking and wealth management opportunities so that they can work stress-free while SBM takes care of their banking needs. With SBM  NRE Savings Account ,  you get to deposit your funds and get free access to them in INR and earn profitable returns. Or, you can also convert the same funds into the currency of your resident country and repatriate it any time you wa...