NRO Savings Account Interest Rate
Here, at SBM Bank India, we provide you the exclusive benefits of growing your domestic income with your NRO (Non-Resident Ordinary) Account.
Here, at SBM Bank India, we provide you the exclusive benefits of growing your domestic income with your NRO (Non-Resident Ordinary) Account.
At SBM Bank, we aim to enhance your financial growth. Therefore, we offer lucrative interest rates on NRO Savings Account to provide you with high returns on your deposits
| For Resident and Non-Resident Indians | |
|---|---|
| Savings Account balance (INR) | Interest Rates (p.a.) * w.e.f. 01-06-25 |
| Up to 5 Lakhs | 2.75% |
| More than 5 Lakhs to 10 Lakhs | 5.00% |
| More than 10 Lakhs to 50 Lakhs | 7.00% |
| More than 50 Lakhs to 3 Crores | 7.25% |
| More than 3 Crores to 25 Crores | 7.50% |
| More than 25 Crores to 50 Crores | 7.25% |
| More than 50 Crores to 75 Crores | 7.00% |
| More than 75 Crores | 5.00% |
If you want to deposit an amount greater than INR 5 crore, please get in touch with the bank branch or your designated Relationship Manager.
For further support and assistance, contact our Customer Service Team on 1800 1033 817 or email us at customercare@sbmbank.co.in.
*The savings interest rate shall apply on an incremental balance. We reserve the right to change the above rates without prior notice. The depositor is requested to confirm the rate with the respective branch before investing.
Our NRO Account interest rates our highly competitive, ensuring that your domestic income and investments yield maximum returns. Our lucrative interest rates are intended to optimise your earnings and enhance your financial planning.
Manage your transactions with ease, our NRO Account facilitates swift and hassle-free fund transfers from your account to any other bank account in India or abroad.
After deducting taxes, interest received on NRO Accounts is allowed to be repatriated up to a specific maximum every fiscal year, according to regulatory requirements. This allows you to freely transfer funds overseas.
Our NRO Accounts are easy to maintain, and you can access your account via a variety of banking channels, including online banking and mobile banking applications.
Our customer support services are available round-the-clock for your convenience and is always prepared to address your queries, provide assistance, and offer solutions regardless of your geographical location.
Enjoy special rates across a host of our other products and services along with competitive currency conversion rates.
To open an NRO Account with the SBM Bank, you need the following documents/proofs.
Repatriability means the process of transferring funds from one country to another. In the context of Non-Resident Ordinary Accounts, it refers to the transfer of funds from a NRO Account in India to a foreign country. Interest earned in NRO Account is completely repatriable. However, repatriation of principal amount up to USD 1 million per financial year can be made every financial year.
To open an NRO Account with SBM Bank India, please visit our nearest branch office and initiate the account opening process or you can also raise an account opening process through our website. Share your details here and our representative will reach out to you to assist you with the application.
Yes, interest earned in an NRO Account is subject to tax payment.
Yes, you can. You can deposit a freely convertible foreign currency in your NRO Account via normal banking channels.
Yes, you can. You can transfer funds from your NRO Account to NRE Account within the USD 1 million per financial year ceiling.
