South Indian Bank Ltd. Head Office T.B Road, Mission Quarters, Thrissur 680 001,Kerala, India
Accounts & Deposits
We understand the challenges NRIs face when managing finances from afar. Our NRI Banking Account is designed to offer ease, flexibility, and tax-efficient benefits to help you stay connected to your finances in India. We strive to bring you the comfort of home in every transaction, with solutions crafted to fit seamlessly into your lifestyle and support your future ambitions.
Choose from our range of Savings, Current, and Term Deposits to suit your needs.
Open your account easily through both Online and Offline modes.
Open accounts individually or with a co-holder for added flexibility.
Enjoy more savings as the interest earned on your NRE Banking Account is exempt from income tax.
Non Resident External Account : Park your overseas earnings in India. Enjoy easy repatriation. Avail the added benefit of this Rupee account being tax-free, both on the principal and interest earned.
Non-resident Ordinary Account: Manage income earned in India, like rent, dividends, or pension. Ensure easy access to your Indian earnings while allowing you to repatriate a portion of the funds annually.
Fixed Currency Non-Resident Account: Save and grow your money in foreign currency like USD, GBP, Euros, AUD, CHF, CAD and JPY. Ensure your funds are safe from exchange rate fluctuations. Plus, enjoy tax-free interest in India.
Portfolio Investment Scheme: Invest in Indian Stock Market and enjoy seamless trading of shares and debentures, backed by low transaction charges and no hidden fees. Benefit from hassle-free tax filing for capital gains.
To get answers to the frequently asked queries
Any Indian citizen living overseas or a Person of Indian Origin (PIO) with proper documentation showing their status as an NRI or PIO may open an NRI savings account.
No, you can only hold an NRE account jointly with another NRI. NRO accounts, however, permit combined accounts with resident Indians.
Yes, you can freely repatriate the whole amount, principal and interest included, to your overseas account.
Use an NRE account for tax-free savings and easy repatriation, an NRO account for managing income earned in India, and an FCNR account to protect your foreign currency deposits from exchange rate risks.
Keep an eye on exchange rate trends to maximize the value of your remittances and deposits, especially when transferring funds into an FCNR or NRE account.
While NRE and FCNR accounts allow full repatriation, NRO accounts have limits. Plan your remittances in advance to avoid surprises when transferring funds abroad.
Use your PIS account to diversify your portfolio by investing in Indian equities and debentures. Take expert advice to understand the best sectors and stocks for investment.
Nominate beneficiaries for your accounts and deposits to ensure smooth access for your family or heirs in case of unforeseen events.
Open FCNR deposits during times of high interest rates to lock in better returns. Similarly, compare deposit rates across banks to maximize your earnings.
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