SB NRO Platinum Account

NRO Platinum Account Features

Maintain an average monthly minimum balance of Rs. 100,000/-
Enjoy the flexibility of minimum balance in your last two linked NRI accounts
No minimum balance is required in your Savings Bank account with an NRI Term Deposit of Rs. 500,000/-
Get a 25% waiver on loan processing fees, saving up to Rs. 2,500/-
Access to free Mobile banking (SIB Mirror+) and Internet banking (SIBerNet) services
Experience no annual maintenance charges or opening fees for DEMAT and PIS accounts

Before you apply, take a moment to confirm your eligibility for opening an NR account with us. This simple step will ensure a smoother application process!

NRIs (Non-Resident Indians)
Indian citizens living abroad for:

Work, studies or business
Assignments with the UN or government-related postings
Jobs as mariners or on foreign airlines

PIOs/OCIs (Persons of Indian Origin/Overseas Citizens of India) Individuals with a foreign passport who:

Previously held an Indian passport.
Have parents or grandparents who were Indian citizens under the Constitution or Citizenship Act of 1955.
Are married to an Indian citizen or another PIO.

NRO account opening online is quick and simple. Just follow the steps below to start banking with your fingertips

Online

To open an SB NRO Platinum Account Online:

Keep your documents ready
Fill up the that is available online
Once the application Application Form is filled and the documents are uploaded, email it to nrionline@sib.co.in
A representative from South Indian Bank will quickly get in touch with you

Once you have initiated this process, you can open an NRO Account online and remit your initial deposit or minimum balance by:

Direct remittance from abroad
Transfer from existing NRE and NRO accounts

Offline

To open an SB NRO Platinum account in person, visit the nearest branch in India, submit the required documents along with the application and deposit your funds using traveller’s cheque or foreign currency notes.

Documentation For Account Opening

2 passport-size photographs
Proof of Identity (Copy of latest Passport with all pages)
Pan Card or Form 60
Overseas Address proof
Permanent Address Proof (India or Abroad)
Proof of NRI Status
Transfer from an existing Indian Bank Account, Initial remittance through DD issued by a foreign bank or an exchange company abroad, or cheque drawn on a foreign bank in your country of residence

To learn more about our account opening process, visit our NRI account opening Guidelines page

Experience clarity and openness with our fee structure, empowering you to navigate your NRI Banking account transactions with confidence.

Frequently Asked Questions

To get answers to the frequently asked queries

Yes, it requires a higher minimum balance of Rs. 100,000/- than standard NRI accounts, but the advantages justify this requirement.

The Platinum Account offers a customized banking experience with higher transaction limits and priority services, catering to NRIs with significant financial needs.

Yes, interest earned is subject to Indian income tax, and TDS (Tax Deducted at Source) applies based on your residency status. You may claim a refund under tax treaties between India and your country.

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