NRI NRO NRE Accounts Global Indian Programme

As a Non-Resident Indian (NRI) you might be looking for some smart investment opportunities to diversify your portfolio and grow your savings. This is why you should consider investing in NRI fixed deposits offering lucrative interest rates to NRIs.
SBM Bank India offers FDs for three types of candidates Non-Resident Indians (NRIs), Overseas Citizens of India (OCI), and Persons of Indian Origin (PIO). If you are either one of them, you can apply and choose any tenure between 1 year to 3 years, as per your financial requirements.
Which types of NRI Fixed Deposits are best for you?
You can choose from majorly four types of NRI fixed deposit accounts.
NRE Fixed Deposits –You can deposit your earnings as savings in the branch and obtain higher interest rates given by the bank. However, the tenure of the NRE FD might differ from a domestic FD along with the interest rates. The biggest benefit of an NRE account fixed deposit is that the interest is fully repatriable and exempted from tax.
NRO Fixed Deposits –Same as NRE FD, except the interest rates, are the same as the domestic deposit, and the money is taxable. However, if you have a source of income in India, opening an NRO account is essential if you don’t want to pay penalties. Also, you can invest your money only through NRO accounts as an NRI.
FCNR Fixed Deposits – You can deposit your money in foreign currencies like the Pound, USD, Euro, CAD, Japanese Yen, and the Singapore Dollar, which are accepted all over the world.