| A. 2: Yes, if you are an NRI or a PIO
NRE account is a Rupee denominated account which is fully repatriable. Funds into this account will have to be received from outside India. You can open either a SB account (liquid account provided with a check book) or a Fixed deposit. The minimum period for an NRE fixed deposit is 12 months. FCNR accounts can be opened in five different currencies viz., US dollar, Pound Sterling, Euro, Jap Yen, Canadian Dollar & Australian Dollar. They are in the form of fixed deposits only and the minimum period of deposit is 12 months. NRO account is a Rupee denominated account which is not repatriable. This account is basically for your rupee funds generated in India. You can open either a SB account (liquid account provided with a check book) or a Fixed deposit.
A. 4: Yes, you can open NRE & FCNR jointly provided the other person is also an NRI. These accounts cannot be jointly held with an Indian resident. NRO accounts can be jointly held with an Indian resident. A. 5: Please visit the website of Indian operations (www.statebankofindia.com) and click on the box "Interest Rates" located at the bottom left hand corner of the home page. A. 6: Regrettably no. NRI Accounts are not managed or serviced by offices in USA. As such they cannot be opened with our offices in USA . | | | | | |  | A. 7: NRI accounts (NRE/FCNR/NRO) are accounts held by offices in India . They are neither managed nor serviced by offices in USA . In order to open an account, the Account Opening Form duly filled in must be sent to a branch of your choice in India. To know a branch located in your city in India, please go to "branch locator" on the top left hand corner of the home page of the bank's Indian website www.sbi.co.in
Please note the following:
a) Attach 2 photographs (one signed and affixed on the form)
b) Enclose copy of passport attested by an authorized official of the Indian Embassy / Consulate or a Notary Public or an officer of our bank. Indian citizens need to enclose copy of the current visa page or green card
c) The same official to verify your signature on the account opening form
d) It is advisable to ask the branch in India to open a `zero balance' account and on receipt of account number fund the account (pl see Q- 9 below for funding options) | | | | | | | A. 8: a) Accounts opened in only one name
Mode of operation: Single b) Account opened in two names:
Either or survivor – Account owned equally by the two account holders and for transactions / issuing instructions only one of the two needs to sign.
Both or Survivor – Account owned equally by the two account holders but for transactions / issuing instructions both will have to sign
Former or Survivor - Account owned only by one person (the first applicant). The second applicant does not have any rights to transact / operate the account. Latter or Survivor - Account owned only by one person (the second applicant). The first applicant does not have any rights to transact / operate the account. c) Acccount opened in three names:
Anyone or survivor(s) - Account owned equally by all the three applicants and and for transactions / issuing instructions only one of the three needs to sign. First or survivor(s) - Account owned only by one person (the first applicant). The 2nd and 3rd applicants do not have any rights to transact / operate the account.
A. 9: You can fund by sending us – New York office, a check. For details please visit www.statebank.com/remittance.htm In addition to checks, you can also effect the remittance thru an ACH authorization, charge to your debit/credit card or vide a wire transfer to SBI New York. The charges are as follows:
| Rupee remittances | below $ 2500 | Free | | $ 2500 & above | Free | Dollar remittances | | $ 30 | | Our India office offers an online remittance service – SBI Express Remit – to India. For details visit www.onlinesbi.com/gls. Please note that this service is provided by our India office and as such US offices will not be in a position to assist you in any manner with regard to this service. A. 10: Express Remit is a service provided by our office in India . Contact particulars are given below: | Email | | India Cell Number | 9920831935 (Mr. H Anand)
9833560695 (Mr. Anil Maroli) | |
A. 11: Yes, you can authorize a close relative (father, mother, brother, sister or wife) to operate your NRE SB account (only your NRE SB account and not any other type of 'NRI account'). The Letter of Authority form will have to be signed by you and the relative before it is handed over to the branch in India. You can ask the branch to hand over the ATM card linked to the NRE account to this relative. Please bear in mind that the letter of authority holder does not become an account holder but is only your authorized representative . Click here to download Authority form
A. 12: These deposits are automatically renewed by the branch in India for the same period. In case you want a change in period or amount you will have to write to the Indian branch. A. 13: You will have to write to the Indian branch. If the deposit is either a NRE or an FCNR account and you wish to bring the amount to USA, you can ask the Indian branch to either send you a check or directly credit your account with any US bank by providing the routing number. | 
