What is an NRO account in SBI?

NRO account in SBI is an account for NRIs for depositing Indian sources of funds. One can also deposit foreign funds in NRO but the main purpose is to manage Indian income.

SBI Bank NRO Account Opening Process:

1. Complete NRI registration process by filling customer information and type of account.
2. On completion of registration, an NRI account reference number (NARN) and account opening form gets generated.
3. Download the completed application form.
4. Prepare Photographs:
   • Affix passport-sized photographs of the sole/first applicant and the second applicant (if any) in the designated sections of the form.
   • Include an additional photograph of each applicant in the envelope when sending the account opening application to the bank.
5. Sign the Application:
   • Sign at the specified locations (A1, A2, A3, A4 for the first applicant and B1, B2, B3, B4 for the second applicant).
   • Ensure to mention the place and date while affixing your signatures.
6. Attestation of Documents:
   • If you are not visiting an SBI branch, all applicant signatures and identification documents need to be attested by one of the following:
     • SBI Foreign Office (check whether SBI Foreign Office in your country permits attestation)
     • Notary Public.
     • Indian Embassy/High Commission.
   • Note: If either applicant already has an NRI account with SBI and is KYC compliant, existing verification details can be used without needing new attestation.
7. Initial Remittance (Optional): If sending an initial remittance (cheque/demand draft), draw it in favour of "State Bank of India A/c [Applicant’s Name]."
8. Send Application: Label the envelope with "ONLINE NRI ACCOUNT OPENING APPLICATION [NARN No issued to you]" and post/courier it along with attested documents to the postal address mentioned in the email sent by the bank during the online application process.
9. Preliminary Verification (Optional):
   • Before dispatching your application and documents to SBI in India, you can upload scanned copies for preliminary verification.
   • Use the "Upload Application & Document for Preliminary Verification" button on the home page.
   • The bank will review the documents and inform you of the verification status.
   • If corrections are needed, make the necessary changes before dispatching the original documents.