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NRE Savings Account

We, at SBM Bank India, believe in nurturing your wealth no matter where you are and let you witness it grow and thrive. With that in mind, we cater to the diverse needs of Non-Resident Indians (NRIs) with our Non-Resident External (NRE) Accounts. As an NRI, you can avail of a secure place to park your foreign earnings while enjoying tax benefits and easy access to your funds at any time, any place. Our NRE Accounts also come with exclusive global lifestyle privileges and access to multiple investment avenues to help leverage the diverse wealth opportunities of India.

Savings Account

THE SBM BANK BENEFIT

Seamless Global Access
Seamless Global Access

You can manage your wealth from anywhere in the world, with swift and effortless fund transfers and round-the-clock assistance. We provide you with seamless global access, enabling you to conduct transactions, monitor investments in real-time and manage your funds easily.

Diverse Investment Opportunities
Diverse Investment Opportunities

Our services empower you to explore investment opportunities in India to diversify your portfolio for optimal returns. You can expand your financial horizons with various investments options such as Mutual Funds, government securities and more.

Access to Wealth Management Solutions
Access to Wealth Management Solutions

At SBM Bank India, we provide personalised and comprehensive strategies for wealth management. Our team of experienced wealth managers work closely with you to analyse risk tolerance, investment opportunities and financial priorities to diversify your portfolio.

EXCLUSIVE FEATURES OF SBM BANK INDIA NRE ACCOUNTS

We place your financial well-being at the forefront of every service we provide. We are committed to providing you with a personalised experience while offering attractive interest rates, and incredible flexibility in terms of your loan tenure and repayments, whether you want to buy a ready to move-in property or under-construction property.

Tax Exemptions
Tax Exemptions

With your NRE Bank Account, you can optimise the growth of your funds by taking advantage of returns without any tax implications.

Hassle-Free Repatriation
Hassle-Free Repatriation

With SBM Bank India, repatriating your funds becomes a seamless process. You can make effortless and secure cross-border transactions and enjoy the freedom of moving your wealth on your terms.

Lucrative Interest Rates
Lucrative Interest Rates

We know that your wealth deserves to flourish. Hence, we offer lucrative interest rates to amplify your wealth with our NRE Savings account. You can earn attractive interest rates on your savings with monthly interest payouts.

Dedicated Relationship Manager
Dedicated Relationship Manager

Your financial preferences deserve expert guidance. With our NRE Accounts, you can enjoy personalised attention from our wealth specialists who are adept at understanding and fulfilling your discerning needs, 24×7.

Digital Banking Facility
Digital Banking Facility

Our smart banking services offer instant access to your NRE Account from anywhere in the world. The user-friendly online banking platform allows you to effortlessly manage funds, track transactions, view account balance and more.

Exclusive Debit Card Privileges
Exclusive Debit Card Privileges

Our Debit Cards are designed to cater to your needs while corroborating your global lifestyle. You can enjoy lounge access at domestic and international airports, offers at premium restaurants and hotels, wellness programs and zero forex mark-up* on international transactions.

Family Account Extensions
Preferential Pricing

When you open an NRE Account with us, you get access to a world of NRI Banking and Wealth Management solutions. You can enjoy special rates across a host of such products and services, including Forex, Loans, etc.

Family Account Extensions
Fixed Deposit (FD) Facility

As an NRE Account holder, you can park your foreign earnings in a rupee-denominated FD for a fixed period and earn interest at attractive rates.

Family Account Extensions
Personalisation Option

At SBM Bank India, you can choose an NRE Account number of your choice.

Apply for NRE Account at SBM Bank India

To open an NRE Account with us, provide your contact details below Our representative will get in touch with you shortly.

If you are an existing SBM Bank India customer, you can contact your Relationship Manager for immediate assistance.

NRE Savings Account Interest Rates

You can check the complete schedule of NRE Account interest rates here. Interest rates are subject to change per the bank’s sole discretion.

FAQs

The NRE Account is a specialised rupee-denominated bank account designed for NRIs and PIOs who reside outside of India. This account facilitates the management of foreign earnings and investments in INR. NRIs/PIOs can deposit their foreign earnings such as income from jobs, business profits or sale of foreign assets, into their NRE Account. The funds in the NRE account are fully repatriable, meaning that you can transfer both the principal amount and the interest earned without any restrictions.

Yes, you can. You can open an NRE Account jointly with two or more NRIs. You can also open the NRE Account with a close Resident Indian (RI) relative on a ‘former or survivor basis’.

The list of required documents are as follows:

  • Identity proof: Passport
  • Address proof: Driving license or current utility bill such as gas or electricity.
  • NRI status: Visa for Indian Passport holders and PIO/OCI Card for foreign passport holders.
  • 2 copies of colour photograph
  • PAN (Permanent Account Number)

No, there isn’t. NRE Accounts are fully repatriable with no limit on repatriation. Both the principal amount and the interest earned are repatriable without limitation.

Yes, you can. You can deposit any foreign currency in your NRE Account. The bank automatically converts the deposits into Indian Rupees.

You can use your funds from NRE Account to make local payments, remit money outside India, make investments or transfer to other NRE Accounts or Foreign Currency Non-Resident (FCNR) Deposits.

With NRE Accounts, you can deposit foreign currency in a rupee-denominated account. The interest and principal amount are fully repatriable and tax-free. With NRO Accounts, you can deposit your Indian earnings as well as foreign earnings in a rupee-denominated account. Interest earned in an NRO Account is added to your taxable income. Also, the NRO Account funds are only partially repatriable.

NEVER SHARE your Card Number, CVV, PIN, OTP, Internet Banking User ID, Password, or URN with anyone, as it can lead to unauthorised access to your account. | DIAL 1930 FOR ONLINE FINANCIAL FRAUD. REPORT ANY CYBERCRIME AT WWW.CYBERCRIME.GOV.IN | Dear Customer, in line with RBI regulation, if there are any changes/updates in the KYC documents you previously submitted with the Bank, please provide the updated documents within 30 days of such changes.

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