SBI Bank International Branches List for NRIs

Being an NRI, to remit or save money back home, it becomes essential to maintain a non-resident account. Considering this, to assist you and offer quality banking services, SBI Bank international branches for NRIs come to your rescue. With a strong focus on global connectivity and customer satisfaction, the bank has established a network of global branches, fulfilling the banking requirements of both NRIs, OCIs, and businesses.

To assist you in this blog, we have provided the SBI Bank international branches list for NRIs, along with their addresses, contact details, and email addresses. Additionally, we have also stated why it is the best choice for NRIs. So read on and gather all the details.

SBI's Global Presence: The Full Picture

State Bank of India, or SBI, is a multinational public sector bank and financial service provider in India. Its headquartered is in Mumbai. With a 23% market share by assets, SBI is the largest bank in India. Additionally, SBI also ranked at the 48th position in the list of the biggest banks in the world by total assets.

Further, it also maintains its international presence in these 22 countries:

• Major Operations: Canada, UK, Australia, USA, UAE, Singapore
• Regional Hubs: Japan, Belgium, Hong Kong, South Africa, Germany
• Neighboring Markets: Maldives, Bangladesh, Bhutan, Sri Lanka, Nepal
• Emerging Markets: Oman, China, Mauritius, Saudi Arabia, Indonesia, Nigeria

This was all about the global presence of SBI. Moving ahead, let's know the list of SBI Bank international branches for NRIs.

List of SBI Bank International Branches for NRIs

Here is the list of SBI international branches for NRIs:

This was all about the list of SBI Bank international branches for NRIs. Moving further, now let's know why NRIs prefer SBI for global banking. 

Why NRIs Prefer SBI for Global Banking?

The international presence of SBI provides NRIs access to Indian banking services. Additionally, through SBI NRI banking services, you can simply open NRI accounts, with their global network, manage investments, and access customer support. There are several more benefits that SBI bank offers to NRIs, these are as follows:

• Comprehensive Banking Ecosystem: Unlike the newly launched fintech banking platforms, SBI provides the experience of complete banking, like in India. Additionally, through its international branches, you can open NRE and NRO accounts, access investment options, and apply for NRI fixed deposits.
• Seamless Indian Connection: The vast domestic network of the bank allows your international branch to simply connect with the Indian branches. This further helps in fulfilling family banking needs, property transactions, and investment management.
• Regulatory Trust and Safety: The Reserve Bank of India (RBI) has stated that HDFC, SBI, and ICICI Bank as the domestic systemically essential banks (D-SIBs). Additionally, these are often mentioned as Indian banks that are "too big to fail." This further provides you with confidence that your money is secure and safe.
• Established NRI Services: For decades, SBI has been providing its banking services to NRIs. Considering this, SBI better understands the tax compliance, DTAA benefits, and repatriation rules than most Indian banks. 
• Dedicated NRI Services: SBI has dedicated international banking services and customer support teams for NRIs to help them out with their banking needs. Additionally, they also provide guidance on the best investment options for NRIs available in India and regulatory requirements. 

So, here is why NRIs prefer SBI for global banking. However, apart from all these benefits, SBI banking services for NRIs also have some drawbacks. Want to know what they are? Read the next section and get your answers. 

Limitations of SBI Bank International Branches

Here are some of the limitations of SBI Bank international branches that NRIs face during banking services overseas:

• Technology Gap: Compared to modern fintech banking solutions, the digital experience of SBI is not so good. The mobile of the bank sometimes gets clunky. Additionally, new platforms like Gift City investment options, the online process of the SBI bank takes longer to process.
• Limited Services in Representative Offices: Many SBI branches overseas operate only as representative offices. This means they do not provide banking transactions can only assist you with opening a bank account. Additionally, they help you out with documentation, coordination with SBI India, and signature attestation.
• Bureaucratic Processes: Compared to digital-first solutions and private banks, being a government bank, SBI includes more documentation. Additionally, for certain requests, a longer time is taken to process as the approval comes from India. 
• Currency Conversion Costs: The forex rates of SBI do not have competitive currency conversion costs as specialized remittance services. Additionally, NRIs living in the USA, Canada, and other high-compliance regions due to FATCA/ CRS regulations face extra restrictions. 
• Banking Services Vary: According to the country, the SBI banking services for NRIs vary, such as deposit options, interest rates, digital features, and loan availability. Considering this, due to regulatory limitations, certain investment options may not be available for residents of specific countries. 

These were some of the limitations of SBI Bank international branches. However, despite all these drawbacks, SBI is still an ideal choice for NRI banking services overseas. Considering this, let's know about the services offered by the bank to NRIs.

Key Banking Services Available for NRIs at SBI International Branches

From opening an NRE or NRO account to NRI fixed deposits and investment options, SBI provides a comprehensive range of banking services overseas to NRIs. To provide an idea of it, here is the list of investment and banking services of SBI international branches offered to NRIs:

NRI Account

• NRE and NRO current/ savings accounts
• NRI family card
• NRE, NRO, FCNR, and RFC fixed deposits
• SBI Amrit Kalash FD
• NRI Demat Account at SBI
• SBI Securities NRI Trading Account

Loans for NRIs

• SBI NRI home loan
• Loan against deposits
• Car loan
• Overdraft against FD

Investment options of NRIs

• Insurance
• SBI Mutual Funds for NRIs
• Portfolio Investment Scheme (PIS)
• Equity trading
• NPS for NRIs

Remittances

• Remittance from India
• Remittance to India

These were some of the key banking services available for NRIs at SBI International branches. Moving ahead, let's know how NRIs can open an SBI account from abroad. 

How NRIs Can Open an SBI Account from Abroad?

NRIs can open an SBI account from abroad by visiting the official site of the bank. Once you fill out the application online, it will be sent to the Global NRI Centre in India. Further, here is the step-by-step process for opening an SBI NRI bank account:

• Visit the official website of the SBI bank and complete the application of SBI NRI account form online. 
• Now, scan and upload all the KYC documents stated in the application form.
• After submission of the online form, download it and attach a passport-sized photo of yourself to it.
• Sign the form, and as mentioned on the form, provide the place and date.
• Self-attest the completed application form. 
• On one of the mentioned entities, get your form further attested:
  • Notary Public
  • SBI Foreign Office
  • Indian Embassy
• Further, if you are sending an initial remittance (DD/ cheque), make it payable to "State Bank of India A/c (name of the applicant)."
• Additionally, mail all the application forms to the address stated in it. 
• Upon the receipt of the set of original forms and submitted documents at the bank, the NRI bank account will be opened.

This is how, following the above steps, you can simply open the NRI bank account in the SBI international branch. Moving further, now, let's know the 24x7 SBI NRI helpline numbers.

24x7 International Helpline for NRIs

Apart from the SBI Bank international branches for banking and financial services, the bank also offers customer services to NRIs. Considering this, NRI customers of the bank from the following 21 countries can call SBI international toll-free numbers (ITFNs) and fulfill their banking needs:

Further, save the 24x7 SBI NRI helpline number of the country you are currently residing in on your phone. It is often quicker to resolve your simple queries on the phone than to visit the branch. 

Final Thoughts

Lastly, now with the SBI bank international branches list for NRIs, you are aware of the global presence of SBI. The bank functioning outside India provides several banking and investment services to NRIs and corporate customers. It includes opening NRE/ NRO accounts, loans, fixed deposits, and credit cards. Considering this, NRIs living in the above-stated countries can avail several online banking and financial services in India.

Further, if you are facing issues in opening an SBI NRE or NRO account, contact Savetaxs. We have a team of professionals who help you in simply opening the account without any issues. Additionally, if needed, they can also assist you with choosing the right NRI investment option in India.