State Bank of India

SBI NRO Accounts

• Rupee denominated account
• Account can be opened with a zero balance
• It is preferable to fund the account upfront to avoid payment of charges for non-maintenance of Minimum Average Balance.
• Interest is paid quarterly on the daily balance in Savings Bank account. No interest is paid in Current Account.
• Minimum Deposit:
  • In General Branches: As per MAB (Minimum Average Balance) criteria
  • In Personal Banking Branches: Minimum total customer account/deposit balance should be Rs. 1 lakh for Metro / Urban areas and Rs. 50,000 for Semi-Urban / Rural areas
• Balances in the account are partly repeatable subject to overall ceiling of USD 1 million or equivalent in a financial year
• Nomination facility available

• SMS Alerts
• Multi-City Cheque book (MCC)
• Domestic Debit Card
• Internet banking
• NRI Family Card
• To park India based current income in Rupees in India
• Account can be opened either individually or jointly.