NRO Savings Account

Manage Your Finance in India Worry-Free with Us

Deposit your domestic earnings directly into a Non-Resident Ordinary (NRO) savings account and manage your legitimate transactions in Indian Rupees with confidence. Take control of your incoming rent, dividends, and pension payments effortlessly. Repatriate up to $1 million USD of your local earnings to your country of residence.

Types of NRO Savings Account

Choose from a Range of NRI Investment Plans to Invest Your Money Wisely.

SB NRO Silver Account

The SB NRO Silver Savings Account is a low-maintenance account to handle domestic earnings in India.

An average monthly balance requirement of Rs. 5000/-
No minimum balance with NRI Term Deposit of Rs. 1,00,000/- and above

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SB NRO Gold Account

The SB NRO Gold Savings Account provides enhanced features and greater value for NRIs seeking a comprehensive banking experience.

An average monthly balance requirement of Rs. 10,000/-
No minimum balance with NRI Term Deposit of Rs. 2,00,000/- and above

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SB NRO Platinum Account

The SB NRO Platinum Savings Account offers premium banking experiences with enhanced convenience and global access.

An average monthly balance requirement of Rs. 1,00,000/-
No minimum balance with NRI Term Deposit of Rs. 5,00,000/- and above

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SB NRO Seafarer Account

The SB NRO Seafarers Account offers tailored banking solutions for NRIs in maritime professions, ensuring convenient financial management back home.

An average monthly balance requirement of Rs. 10,000/-
No minimum balance with NRI Term Deposit of Rs. 2,00,000/- and above

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SB NRO Pulse Account

The SB NRO Pulse Account, created especially for non-resident medical professionals, enables you to handle all your financial transactions in India.

An average monthly balance requirement of Rs. 10,000/-
No minimum balance with NRI Term Deposit of Rs. 2,00,000/- and above

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SB NRO Edge Account

The Edge Account is a special variant for NRI software professionals abroad to manage their Indian earnings.

An average monthly balance requirement of Rs. 10,000/-
No minimum balance with NRI Term Deposit of Rs. 2,00,000/- and above

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SB NRO Fly High Account

The NRO Flyhigh account is designed for students studying abroad, providing easy financial management while they are away

An average monthly balance requirement of Rs. 5,000/-
No minimum balance with NRI Term Deposit of Rs. 1,00,000/- and above

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What is an NRO Savings Account, and who can open it?

An NRO or Non-Resident Ordinary Savings Account is designed to help NRIs manage their income earned in India through rent, dividends, pensions, or other legitimate earnings. Any individual with NRI status can open an NRO / NRI Banking Account

What are the Benefits of an NRO Savings Account?

Smooth management of income accrued in India.
Allows cash withdrawal and shopping in Indian Rupees.
It also enables inward remittances from abroad and limited repatriation of funds to other countries.

Can I Repatriate Funds from My NRO Savings Account?

Yes, you can, up to 1 million USD per financial year (after deducting applicable taxes and giving the required documents, subject to compliance with RBI directives).

Are there taxes on interest earned on the NRO Savings Account?

Yes, the interest is payable and liable for Indian Income Tax. The bank deducts TDS at applicable rates.

Can I open a joint NRO Savings Account?

Yes, joint NRO Savings Accounts or any NRI Account can be opened with another NRI or a resident Indian relative, provided they comply with FEMA guidelines.

Questions & Answers

Frequently Asked Questions

To get answers to the frequently asked queries

Smooth management of income accrued in India.
Allows cash withdrawal and shopping in Indian Rupees.
It also enables inward remittances from abroad and limited repatriation of funds to other countries.

Yes, you can, up to 1 million USD per financial year (after deducting applicable taxes and giving the required documents, subject to compliance with RBI directives).

Yes, the interest is payable and liable for Indian Income Tax. The bank deducts TDS at applicable rates.

Yes, joint NRO Savings Accounts or any NRI Account can be opened with another NRI or a resident Indian relative, provided they comply with FEMA guidelines.