Key facts
What the official sources publish
Every value below belongs to this exact product. Select a source marker to check its context.
Account typeNRE savings bank salary account
Source 1Published purposeDeposit monthly overseas earnings in Indian rupees in India
Source 2NRE savings interest rate2.50% p.a. across all account balancesEffective 15 Jun 2025
Source 3Holder modeIndividual or joint with other NRIs, PIOs or OCIs
Source 4Published tax treatmentInterest earned on NRE accounts is stated as exempt from Indian income tax
Source 5Employment eligibilityIndian-employer staff posted overseas or on ships, and overseas-employer staff meeting SBI's listed employer-account condition
Source 6Listed service-charge waiversSMS alerts; online NEFT/
Source 7Benefits and features
- Includes the features of SBI's normal NRE Savings Bank Account
- The page lists multiple service-charge waivers
- The page lists additional benefits on NRI home and car loans
Eligibility
- Employees of an Indian employer posted overseas or on a ship may open the account before leaving India or after relocating overseas.
- For overseas-employer staff, SBI states that at least ten NRE/NRO Salary Package accounts of employees of the same employer must initially be opened.
- The separate car-loan condition waiver requires the account to be at least three months old with continuous salary credit.
Passing a listed condition does not mean the bank will approve an application.
Documents the bank lists
- KYC identification documents
- One of: last month's salary slip, employer-issued employee identity card, or a bona fide/authentic HR or employer administration letter
