Key facts
What the official sources publish
Every value below belongs to this exact product. Select a source marker to check its context.
Account formsSavings bank, current, term deposit, special term deposit and recurring deposit
Source 1Account denominationIndian rupees
Source 2Opening balanceZero balance permitted for NRE savings and current accounts
Source 3NRE savings interest rate2.50% p.a. across all account balancesEffective 15 Jun 2025
Source 4Residential-status eligibilityNRI, PIO and OCI customers are permitted, subject to SBI's listed conditions
Source 5RepatriabilityPrincipal and interest are fully repatriable
Source 6Deposit tenure1 year minimum and 10 years maximum for TDR, STDR and RD
Source 7Published tax treatmentInterest on NRE accounts is stated as exempt from Indian income tax
Source 8Listed facilitiesSMS alerts, multi-city cheque book, international or domestic debit card, internet banking and NRI Family Card
Source 9Permissible credit routesFresh overseas remittance, eligible transfers from NRE, FCNR(B) or NRO accounts, specified foreign instruments, and eligible India investment proceeds
Source 10Benefits and features
- Principal and interest are fully repatriable
- Nomination is available for the listed account and deposit forms
- Rupee loans may be available against NRE deposits
- The product page states that NRE interest income is exempt from Indian income tax
Eligibility
- The SBI eligibility table permits NRE accounts for NRI, PIO and OCI customers subject to its footnoted conditions.
- A joint account with a resident close relative may be opened only under SBI's listed former-or-survivor arrangement, with the non-resident as the first holder.
- Nationality-specific and residential-status conditions on the official page still apply.
Passing a listed condition does not mean the bank will approve an application.
