State Bank of India (SBI), India's largest bank, offers a host of deposit options for NRIs to earn attractive interest on their savings. NRO and NRE accounts are some of the company’s popular term deposit options, allowing account holders to earn a good rate of return and park money in India. They come with a high degree of security, operational flexibility and a number of other benefits.
About SBI - Headquartered in Mumbai, the SBI Group provides an array of products and services to individuals, large corporations, commercial enterprises, public bodies and institutional customers. The bank is the country’s largest commercial bank in terms of deposits, assets, branches, number of customers and workforce. It has established its presence in 36 nations through 195 foreign offices.
(Note - All the information contained in this page has been sourced from the official website of the State Bank of India.)
Click here to know about SBI NRE Term Deposits Rate
Source: SBI official website Note: Interest rates are subject to change from time to time as per the Bank’s discretion.
With effect from 9 May 2019
Click here to know about SBI NRO Term Deposits Rates
Source: SBI official website
Note: Interest rates are subject to change from time to time as per the Bank’s discretion.
Click here to know about Foreign Currency Non-Resident Deposits (FCNR(B))
Source: SBI official website Note: Interest rates are subject to change from time to time as per the Bank’s discretion.
| Period | USD>300000 | USD≥300000 | GBP | EURO |
|---|---|---|---|---|
| 1 year to less than 2 years | 3.42 | 3.47 | 1.40 | 0.01 |
| 2 years to less than 3 years | 3.34 | 3.44 | 1.56 | 0.01 |
| 3 years | 3.33 | 3.43 | 1.62 | 0.01 |
Source: SBI official website
Note: Interest rates are subject to change from time to time as per the Bank’s discretion.
Click here to know about features of SBI NRI FD
Source: SBI official website
Click here to know about Eligibility for SBI NRI FDs
Source: SBI official website
What is the interest rate that SBI NRI FD account offers on senior citizens FDs?
Differential interest rates are not offered to senior citizens maintaining SBI NRE/NRO Term deposits. The rates will be the same as stated in the table listed above.
Can I make alterations to the tenure of my ongoing SBI NRI FD account?
An individual cannot change the tenure of an already active fixed deposit account. However, he or she can close the existing fixed deposit account and open a new one with tenure of his or her choice.
How to open an SBI NRI FD account without a PAN card?
In case PAN is not available, an individual will have to make a declaration in Form 60.
What is the highest interest rate that is offered on SBI NRI FD account?
For investments of up to Rs. 2 crores, the interest rate can go as high as 7.00%
What are the FD tenure options with SBI NRI FD account?
The investment term for NRE account is 1 year (minimum) to 10 years (maximum), while the tenure for NRO account is 7 days (minimum) to 10 years (maximum).
What is the minimum amount required to start an SBI NRI FD account?
The minimum amount required to open an SBI NRI FD account is Rs. 1,000.
What is the eligibility criteria to open an SBI NRI FD Rates account?
Entities holding residential status of NRI, PIO and OCI are permitted to open NRO, NRE AND FCNR (B) accounts with SBI.
