NRI Banking

  PIS (Portfolio Investment Scheme) allows NRI to invest in different securities. NRIs can invest/trade on repatriation basis. Portfolio investment helps in dividing risk over different securities. Account holders can trade in shares and debentures of Indian companies, Invest in options and futures and also Invest in Mutual Funds. SBM NRE Portfolio Investment Scheme Account have it’s own benefits: · Invest in India from any part of the World · Buy, Sell, Repatriate at a click · Enjoy Smooth Transactions · 3-in-1 Account with Competitive Pricing · Competitive Brokerage and Value Added Subscription Plans · Award winning Research Team · Dedicated Support team

With advanced technology transferring money from one country to another has become easy. There were times where transferring money was difficult as one has to wait for the right exchange rate and transaction cost. Now remitting money back home can be done through convenient modes. · International Wire Transfers Wire transfers or telegraphic transfers are one of the most common ways to transfer money to India from abroad, and they usually take the form of bank-to-bank transfers. You would need to approach your bank to know about the exchange rates and the applicable charges. · Digital Remittance Services Online money transfer services offered by many Indian banks are far the most convenient and quick solution to all your remittance worries. These are the most affordable transfer options in the market as they charge zero to nominal fees. Many big banks provide online remittance services through an online portal for their account holder to make it easy with just a few clicks · Forei...

Today everybody needs a bank account, be it an Indian or a Non- resident Indian. If you are an NRI or a person of Indian and wish to open an NRI saving account , Then you can maintain a bank account with a financial institution authorized by the reserve bank of India. NRI banking services is a banking service provided to a Non-resident Indian, where he can avail the banking and investment services which he needs regularly. In India along with NRI account people also make: Non-resident ordinary account (NRO) The Non-Resident Ordinary (NRO) Account is primarily opened for depositing money earned in India and also Foreign earnings can be deposited in this account. Non-resident external account (NRE) is a bank account opened in India in the name of an NRI, to store his foreign earnings and convert it into Indian rupees. NRE saving account helps you to easily transfer your foreign currencies to India.

  FCNR Accounts 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 are the FCNR Accounts? 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 an 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 repatriable...

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: 1. 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. 2. Online Transfer Probably the easiest way to transfer money is through online mode using your local bank’s internet banking facility. How...

Indians living abroad or Non-Resident Indians (NRIs) send money back home for a variety of reasons, but for those who have moved abroad recently, determining the best way to remit money to India can be a daunting exercise. Because transferring money home comes with a set of options and doubts — is this the best exchange rate, what is the most convenient and efficient way of transferring money, what is the fee charged, is this service provider trustworthy, and so on. If you are an NRI and have some similar questions, then let’s discuss some of the most popular methods to transfer money to India . International Wire Transfers Wire transfers or telegraphic transfers are one of the most common ways to transfer money to India from abroad , and they usually take the form of bank-to-bank transfer. The sender (NRI in this case) has to go to an institution like a bank or other agencies like Western Union, or Remit2India and can transfer funds from his local overseas bank to his NRI bank account...

Home loans have been the greatest way of making the dream come true of owning a house. However, the coronavirus pandemic has brought many of our plans and financial decisions on halt. If you belong to the same group and can’t apply for an NRI housing loan considering your economic setbacks, let us tell you why applying for an NRI housing loan in the present scenario is beneficial.  The First benefit you get tax benefits on the interest paid and loan amount repaid; you can avail the homeownership today instead of waiting for the future; you also get assistance from the home loan provider to assess the builder’s credibility and track record and the legal documents about the building. Here are three key benefits of applying for an NRI housing loan in the present situation Low property prices As the prices of the real estate have decreased, including the residential properties, the homebuyers have got multiple options in the affordable home segment. Applying for Housing loan in the pr...