NRI Facilitation Services

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NRE/NRO/FCNR Account Opening Facilitation

SBI Singapore offers facilitation services for opening of NRE/NRO/FCNR accounts.Please contact the following branches for assistance.

Cecil Street Branch
135 Cecil Street
#01-00
Singapore 069536
(65) 6228 1151
nri-cecilstreet@sbising.com

Jurong East Branch
Block 131 Jurong Gateway Road
#01-265
Singapore 600131
(65) 6506 4106
jurongeast@sbising.com

Little India Branch
Block 677 Rangoon Road,
(Opposite Farrer Park, MRT Exit A)
#01-02 Singapore 210677

Please call 6228 1194 / 6228 1193 to book an appointment for your NRE/NRO/FCNR Account Opening.(This service is provided daily from 2pm to 6pm)

(65) 6228 1193
nri-littleindia@sbising.com

Marine Parade Branch
Block 83 Marine Parade Central
#01-564
Singapore 440083
(65) 6506 4266
marineparade@sbising.com

Verdun Road Branch
24 Verdun Road
Opp Mustafa Travels
Singapore 207282
(65) 6506 4235
verdun@sbising.com

Click here for Branch Operating hours
Please send an email or speak to the branch for prior appointment.
We recommend prior appointment to reduce waiting time at the branch.

Documents Required
  1. Duly completed Application From
  2. Passport size latest Photographs and the following documents:
Singaporeans
  1. NRIC
  2. Passport
  3. OCI or PIO CARD
PRs and Others
  1. NRIC or EP or WP
  2. Passport
  3. Latest Phone / Utility Bill /Bank Statement
  4. PAN card required for NRO accounts

SGD 25 facilitation charges apply. SGD 125 approximate as Minimum Balance for NRE/NRO accounts

Please note that SBI Singapore offers facilitation services only. Account related queries will be handled by the branch where your account is maintained.

Non Resident accounts are maintained with branches of SBI in India and are governed by RBI / GOI rules and regulations. These are not SDIC insured deposits.

NRI Home Loan Facilitation

State Bank of India has a wide range of Housing Loan products to suit various needs of NRIs.

For details on eligibility and online application, please Click here

For application format, please Click here

Please contact the following branches for further assistance.

Cecil Street Branch
135 Cecil Street
#01-00
Singapore 069536
(65) 6228 1151
nri-cecilstreet@sbising.com

Jurong East Branch
Block 131 Jurong Gateway Road
#01-265
Singapore 600131
(65) 6506 4277
jurongeast@sbising.com

Little India Branch
Block 677 Rangoon Road,
(Opposite Farrer Park, MRT Exit A)
#01-02 Singapore 210677
(65) 6228 1193
nri-littleindia@sbising.com

Click here for Branch Operating hours
Please send an email or speak to the branch for prior appointment.
We recommend prior appointment to reduce waiting time at the branch.

Documents Required
  1. Duly completed Application From
  2. Passport size latest Photographs, copy of your latest Credit Bureau (CBS) report and the following documents:
Singaporeans
  1. NRIC
  2. Passport
  3. OCI or PIO CARD
PRs and Others
  1. NRIC or EP or WP
  2. Passport
  3. Latest Phone / Utility Bill /Bank Statement

SGD 25 facilitation charges apply.

Power of attorney (POA), if required. It can be given to close relatives namely Spouse, Father, Mother, Brother, Sister, Children, Father-in-law and mother-in-law. Please click here to download the standard POA format and instructions to execute it. Income Proof for each applicant as per following:

Occupation type Documents required
  Self-attested copy of following documents:
Salaried Applicants
  1. Employment contract/ appointment letter/Offer letter or any other document/agreement showing current terms of employment
  2. Salary certificate / slip for last 3months
  3. Bank account statement showing salary credit for last six months
  4. Duly acknowledged copy of last year Individual Tax Return(NRIs/PIOs located in Middle east countries or employed in Merchant Navy are not required to submit individual tax return)
  5. Copy of Continuous Discharge Certificate (CDC) for applicants employed in the Merchant Navy
  Self-attested copy of following documents:
Non-Salaried Applicants (Businessmen / Professionals / Self Employed)
  1. Audited / Chartered Accountant certified Balance Sheet and P&L accounts for last 2 years
  2. Individual Tax Return except for last 2 years (NRIs/PIOs located in Middle east countries are not required to submit individual tax return)
  3. Bank account statement of overseas account in the name of individual as well as company/unit for last six months

Please note that Housing Loans are processed by our offices in India. SBI Singapore only facilitates the loan application / documentation process.

All enquiries on the loan facilities to be addressed to the branch in India, where you avail the loan facility. Non Resident accounts are maintained with branches of SBI in India and are governed by RBI / GOI rules and regulations. These are not SDIC insured deposits.

Re-KYC diligence & operationalizing ‘In-operative’ NRI account
Please download and complete the attached form and send it to your home branch with self-attested copies of required identification and additional documents.

The following services are available at our Cecil Street, Jurong East and Little India Branches.

  1. Life Certificate Attestation Service for Pensioners ( SBI Account Holders only )
  2. Facilitation for Renewal of Existing TD
Cecil Street Branch
135 Cecil Street
#01-00
Singapore 069536
(65) 6228 1151
nri-cecilstreet@sbising.com

Jurong East Branch
Block 131 Jurong Gateway Road
#01-265
Singapore 600131
(65) 6506 4277
jurongeast@sbising.com

Little India Branch
Block 677 Rangoon Road,
(Opposite Farrer Park, MRT Exit A)
#01-02 Singapore 210677
(65) 6228 1193
nri-littleindia@sbising.com

Click here for Branch Operating hours
Please send an email or speak to the branch for prior appointment.
We recommend prior appointment to reduce waiting time at the branch.

Please carry your Passport and NRIC/EP/DP/SP/Visit Pass (PPO is required for Life Certificate attestation)

Please click here for other forms.
Non Resident accounts are maintained with branches of SBI in India and are governed by RBI / GOI rules and regulations. These are not SDIC insured deposits.

Please note that SBI Singapore offers facilitation services only. Account related queries will be handled by the branch where your account is maintained.

Click here for complete details on NRI Services including interest rates

Demand loan/Overdraft against NRE/FCNR deposits

We offer demand loan/overdraft facilities against NRE/FCNR deposits placed with authorized SBI branches in India to cater to your short-term financing needs as well as provide you with redrawing flexibility without compromising the returns on your deposits.

Benefits & Features
  1. Available in SGD or USD
  2. Offers liquidity against NRE/FCNR deposits without compromising the returns on the deposits
  3. Low interest rates – applied daily only on amounts utilized
  4. Flexibility

Terms and conditions apply.

Eligibility
  1. NRIs residing in Singapore, having NRE/FCNR deposits placed with SBI India
  2. 21 years old and above
  3. Overdraft facilities granted only for 1st party and documents executed at SBIS branches
  4. Minimum loan amount: SGD 50,000 or equivalent if the loan is in USD
  5. Maximum loan amount: SGD 3,000,000 or its equivalent if the loan is in USD
  6. NRE/FCNR deposit opened at least 3 months prior to the loan and with minimum remaining tenor of 6 months to maturity
Charges
  1. Flat fee of SGD 100 per application
  2. Borrower must open a loan servicing account for payment of processing fee and monthly interest servicing.
Required Documents
Documents to be submitted along with the application form
  1. Application form
  2. Demand Promissory note
  3. Deed of Security over deposit(s)
  4. Declaration/Undertaking by the borrower to update the bank on any change in NRI residency status
  5. Authorisation letter to SBI India for lien of TD and repatriation of maturity proceeds

Approval of this application is at the bank’s discretion.

How to Apply
Walk in to any of our branches to talk to our relationship managers.

 

 

Click here for complete details on NRI Services including interest rates