Key Feature of South Indian Bank NRI Banking

Multiple Account Choices

Choose from our range of Savings, Current, and Term Deposits to suit your needs.

Simple Account Opening

Open your account easily through both Online and Offline modes.

Joint Account With Loved Ones

Open accounts individually or with a co-holder for added flexibility.

Tax-Free Savings

Enjoy more savings as the interest earned on your NRE Banking Account is exempt from income tax.

SIB NRI Accounts

Types of NRI Accounts & Deposits

NRE Accounts

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. 

NRO Accounts

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.

Foreign Currency Deposits

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.

PIS – Portfolio Investment Scheme

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.


Pro Tips: Managing NRI Accounts and Deposits Wisely

1
Choose the right account for your needs:

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.

2
Monitor Exchange Rates:

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.

3
Understand Repatriation Rules

While NRE and FCNR accounts allow full repatriation, NRO accounts have limits. Plan your remittances in advance to avoid surprises when transferring funds abroad.

4
Invest Smartly with a PIS Account:

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.

5
Plan for Succession

Nominate beneficiaries for your accounts and deposits to ensure smooth access for your family or heirs in case of unforeseen events.

6
Time Your Fixed Deposits Wisely

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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