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8th July 2016, 05:36 PM
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Join Date: Apr 2013
Re: State Bank of India NRE Account

Through Non Resident External (NRE) Account at State Bank of India customers can park overseas earnings remitted to India and converted to Indian Rupees.

Types of NRE Accounts & Deposits:

Savings Bank (SB) / Current Account

Rupee denominated account

Account can be opened with a zero balance

Interest is paid half yearly on the daily balance in Savings Bank account.

No interest is paid in Current Account.

Minimum Deposit:
In General Branches:
No minimum amount

In Personal Banking Branches:
For Metro / Urban areas:
Rs. 1 lakh

For Semi-Urban / Rural areas
Rs. 50,000

Principal & interest amount are fully repatriable

Nomination facility available

Term Deposits (TDR) –

Rupee deposits of fixed tenure

Account can be opened with a zero balance

Interest is paid quarterly on Term Deposit Receipts (TDRs).

Minimum Deposit:
In General Branches:
Rs. 1000/-

In Personal Banking Branches:
Rs. 1 lakh for Metro / Urban areas
Rs. 50,000 for Semi-Urban / Rural areas

Nomination facility available

Can avail a loan/overdraft against your deposit

Premature withdrawal permissible

Special Term Deposits (STDR) –

Rupee deposits of fixed tenure

Interest gets compounded every quarter.

Minimum Deposit:
In General Branches:
Rs. 1000/-

In Personal Banking Branches:
Rs. 1 lakh for Metro / Urban areas
Rs. 50,000 for Semi-Urban / Rural areas

Can avail a loan/overdraft against your deposit

Premature withdrawal permissible

Automatic renewal on maturity

Recurring Deposits (RD) –

Minimum monthly installment : Rs.100/-

Principal & interest amount are fully repatriable
Nomination facility available

Premature withdrawal permissible

No automatic renewal will happen.


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