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Team Leader:
Wherever you go we are there . . .
Shri. Joy C Aryakara, DGM (PBBU & NRI)
A monthly newsletter from
Our Editorial Team:
NRI Services, State Bank of India,
Smt. Smija P M Asst. General Manager (PBBU)
Local Head Office, Trivandrum
Shri. Sajeesh M S - Chief Manager (NRI & IB)
E-mail: nridesk.kerala@sbi.co.in
Shri Lalson Jacob - Vice President (PBBU)
Land Line No. : 0471 2336383, 654996
Volume: VII Issue No. : 1 April 2017
Dear Customer,
It gives me great pleasure to welcome the esteemed NRI customers of our Associate Banks into the family of State Bank of
India. April 1st , 2017 will be a red letter day in the history of Banking and Finance, as the five Associate Banks namely
State Bank of Travancore, State Bank of Bikaner and Jaipur, State Bank of Hyderabad, State Bank of Mysore and State
Bank of Patiala besides Bharatiya Mahila Bank merge with State Bank of India, already known as 'The Giant in the
Banking Industry, in India.
SBI has the largest asset base of Rs.30.72 trillion and after merger of the above banks, it would be Rs.45 trillion (USD
555 billion) taking it amongst the top 50 banks in the world. With the merger, the network of State Bank of India would be
over 23500 branches in India and presence in 37 countries with 198 overseas branches besides sponsored Exchange
Companies in GCC countries. However overwhelming the figures might be, I would like to reassure you that you are
with the Bank which is committed to serve the individual customers like you and well known as a 'Banker to Every
Indian'. We assure you that we are with you all the way.
Even though the merger took place on 1st April, 2017, the data merger will take place in a phased manner and we expect
the whole process to go through seamlessly with least disruption to the customer. The products offered by the Associate
Banks will no longer be available from April 1st, 2017. However, SBI has a plethora of products (both liabilities and
assets) to take care of your needs, which is available from 01/04/2017. For the convenience of customers the existing
deposits and loan accounts held by customers with Associate Banks until 31st March, 2017 will continue till
maturity/repayment/closure. There would not be any change in the customer account numbers. Internet banking facility
and ATM facility will continue to be available to all, as before. As, data merger of the banks will be completed in a
phased manner, until such time the customers of Associate Banks will need to transact through branches of Associate
Banks only. A toll free help-line (No.1800-4252-771) is being put in place to assist customers and answer their
transaction related queries during the merger and post-merger period.
In our forthcoming issues of our newsletter, we shall be sharing with you details of our wide range of Deposit and Loan
and Investment Products, Schemes and Services, which I am sure, will be informative and useful to you. It will be our
earnest endeavor to continue the excellent service you have been receiving from our Associate Banks. Your patronage is
immensely valuable to us, so also your suggestions. Looking forward to your continued association with State Bank, the
enlarged family.
With regards,
S. Venkataraman,
Chief General Manager,
State Bank of India,
FAQs on NRE/NRO/FCNR
Thiruvananthapuram Circle. account w.r.t SBIs merger with its Associate Banks & Bharatiya Mahila Bank
(for customers of SBI Associate Banks & Bharatiya Mahila Bank)
Q: Whether my CIF number (in case of only one CIF number with any one of the associate Bank) will remain the same?
A: Yes. The CIF number will remain the same and it will be mapped to the respective home branch.
Q: Whether my multiple NRE/ NRO savings accounts with SBI and with Associate Banks will continue?
A: Yes, multiple NRE / NRO Savings Bank accounts will continue.
Q: Whether I need to update nominee details in my NRE/ NRO Account in case of CIF merger?
A:. As the existing NRE/ NRO/ FCNR Account will remain same therefore no need to update nominee details.
Q: Whether any service charges applicable on my NRE/ NRO Savings Bank Account after merger?
A: Service charges, if any, will be applicable as per the SBI service charge structure.
Q: Whether the interest rate applicable on existing NRE/NRO/FCNR term deposit account with ABs will remain same?
A: Yes. Interest rate applicable on existing NRE/ NRO/ FCNR term deposit account with ABs will remain same till the
maturity/closure.
Q: What will be the penalty on premature closure of my NRE/ NRO/ FCNR term deposit account?
A: Penalty on premature closure will be applicable as per the existing SBI instruction and guidelines.
Q: After renewal of my NRE/ NRO/ FCNR term deposit account, what interest rate and T & C will be applied to my
renewed NRE/NRO/FCNR term deposit account?
A: Interest rate and T & C will be applicable as per the existing SBI Interest rate and T & C, as on date of renewal.
Q: Can I open a new NRE/ NRO/ FCNR account with features and benefits offered by Associate Bank after merger?
A. No. Products of SBI only will be available after merger.
Q: I have a Cheque issued by AB and whether I can continue to use it after merger?
A. Yes, but a new Cheque book will be issued before June 30, 2017.
FAQs for customers of SBI Associate Banks and Bharatiya Mahila Bank on Internet Banking
Q. I am a customer and net banking user of SBH/SBP/SBM/SBT/SBBJ. In view of merger of my Bank with SBI, should I
register afresh or can I login with the net banking username and password provided to me earlier?
A. There is no need to register afresh for availing net banking services of SBI i.e. the merged bank. You can log on to OnlineSBI
(https://www.onlinesbi.com ) with your current username and password. If you are still unable to login, please lodge a
complaint in CMS. (https://cms.onlinesbi.com )
Q. Whether the third party beneficiaries (Interbank/Intrabank/International/IMPS) and billers added by me in my net
banking account previously, will be available in OnlineSBI after merger of my bank with SBI?
A. The third party beneficiaries as well as billers added and approved/registered by you earlier will be available.
Q. I have set standing instructions/scheduled bill payments in my net banking account prior to merger. What will happen to
those standing instructions?
A. The standing instructions set by you earlier will be executed on the due dates. No need to cancel them.
Q. Will there be any changes in service charges for ABs customers after Merger?
A. Service charges as applicable for SBI customers will be applicable for customers of Associate Banks.
Q. How do I add existing SBI account as third party as beneficiary?
A. For the time being, you have to add the existing SBI account as beneficiary under GRPT/NEFT/RTGS category till the date of
data merger which will be notified in due course. If you add the exiting SBI account as GRPT beneficiary, no funds transfer
charges will be recovered.
Q. Which bank do I need to select while making merchant payment like ticket booking, e-commerce etc?
Ans. For making merchant payment like ticket booking, e-commerce etc, choose your erstwhile bank name till further notice.
Useful tips for customers of SBI Associate Banks & Bharatiya Mahila Bank on Merger
Continue to use your Present Branch for usage of Cash Deposit Machine, Clearing of Cheques and other instruments
Continue to use cheque books already provided to you till you receive new cheque book of SBI
Transact all FOREX business/transactions through your existing Branch
Continue to use your existing internet Banking credentials (UserID & Password) for Log-in and transactions
through your erstwhile Bank URL or www.onlinesbi.com
Continue using SBI Anywhere Associate Banks Mobile app till further notice.
Obtaining Permanent Account Number (PAN) from Income Tax Department of Government of India is
necessary before any Indian citizen invests in a company in India or becomes a Director in an Indian company.
It is also advisable for foreign citizens investing in India to get PAN. The NRIs who are PIOs (Person of Indian
Origin) or OCI (Overseas Citizen of India) can also apply for PAN online. One essentially needs two documents
for applying for a PAN Card - one for proof of identity and one for proof of address. The documents required are
as follows:
Click here
to apply
Interest rates
NRE Term Deposits (w.e.f 01/03/2017)
Tenors Below Rs.1 Crore Above Rs. 1 Crore
1 year to 455 days 6.90% 4.25%
456 days to less than 2 years 6.75% 4.25%
2 years to less than 3 years 6.75% 4.25%
3 years to less than 5 years 6.50% 4.25%
5 years and upto 10 years 6.50% 4.25%
FCNR (B) Deposits With effect from 01st April 2017 (in % p.a.)
Currency USD GBP EURO CAD AUD JPY
Period Rate Yield Rate Yield Rate Yield Rate Yield Rate Yield Rate Yield
1 year to less than 2 years 2.15 2.22 1.17 1.2 0.15 0.15 1.94 2 2.6 2.69 0.05 0.05
2 years to less than 3 years 2.62 2.75 1.62 1.68 0.3 0.31 2.12 2.21 2.96 3.12 0.05 0.05
3 years to less than 4 years 2.83 3.02 1.71 1.79 0.3 0.31 2.26 2.39 3.1 3.32 0.05 0.05
4 years to less than 5 years 2.96 3.21 1.79 1.89 0.3 0.31 2.38 2.55 3.43 3.76 0.05 0.05
5 years 3.06 3.33 1.86 1.97 0.4 0.41 2.48 2.66 3.55 3.91 0.05 0.05
* Rates are subject to change, without prior notice. * Annualized yield at the end of the period.
Premature withdrawals of FCNR (B) Deposits:
No interest is payable, if the deposit is withdrawn before one year. If the deposit is withdrawn after completion of one year, the interest paid shall
be 1.00 % below the rate applicable for the period deposit has remained with the Bank or 1.00 % below the contracted rate, whichever is lower.
RESIDENT FOREIGN CURRENCY ACCOUNT (RFC ) (% P.A.) w.e.f 1st April , 2017
PERIOD USD GBP EURO
1 year and above but less than 2 years 2.15 1.17 0.15
2 years and above but less than 3 years 2.62 1.62 0.30
3 years only 2.83 1.71 0.30
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Minimum Loan amount
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Rs.20
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years
Now NRIs can avail Car Loan from State Bank of India in their names with their relatives
as guarantor. The salient features of our NRI Car Loan are as mentioned below:
Quick Sanction
Upto 85% on Road Price Financing*
o On road Price include taxes, Octroi, Registration, Click here
Insurance, Accessories, extended warranty and to apply
maintenance package.
online
Longest tenure 7 years
Interest on Daily reducing balance
The loan can be repaid by debit to your NRE/FCNR/NRO
accounts or by inward remittances. The loan can also be
repaid by your resident close relative.
No prepayment penalty SBI LOYALTY CAR LOAN SCHEME for existing SBI Home Loan customers
Interest rate 8.75% p.a. Car loan sanctioned upto 100% of on-road price of the vehicle.
EMI per Lakh Rs. 1596/-
SBI offers the facility of opening NRE-PIS account for its NRI customers who have a KYC compliant NRE Savings Bank (SB)
account being maintained with the bank.
To facilitate Demat & Trading services for NRI customers three separate accounts will be needed (along with the
NRE/NRO Bank account maintained by NRI customers)
PIS account
Demat account
Online/Offline Trading Account
PIS account: The Bank has to open a PIS account for routing investments.
Advantages
Transactions handled by SBI Indias Largest Bank
Good returns on your Investment in stock market
Low cost of transactions
Good Avenue for diversified Investment
For any details on Mutual Funds, Life Insurance, Medical Insurance, Demat Accounts, SBI Credit Cards, National
Pension Scheme, please contact:
Shri. Jyothish Kumar/Shri. S S Bhakta
State Bank of India, Cross Selling Dept.,
Local Head Office, Thiruvananthapuram.
Mobile: 9447778619 / 9447788853 Email: agmmcs.lhotri@sbi.co.in
SBI SPECIALISED NRI PREMIUM BANKING CENTRE, THIRUVANATHAPURAM
SBI Specialised NRI Premium Banking Centre is an exclusive branch opened in the year 2011 for High Networth
Individuals. It is designed to provide personalized services with exclusive dedicated Relationship Managers for
servicing customers efficiently.
The Branch is located at Vellayambalam in the heart of Trivandrum city with ample car parking facility. The
Interior of the branch is designed in a unique way that few would feel that they are inside a bank. The branch
provides a host of value added services including wealth management for better returns of your hard earned
money.
Address:
State Bank of India, Specialised NRI Premium Banking Centre,1st Floor,
Yaathrika Vellayambalam, Trivandrum Kerala -695010.
Contact No. 0471-2723222 Fax: 0417-2724222,
email ID: nritvm@sbt.co.in
NRI customers can enquire their account balance, Cheque collection/realization status, ATM Card
related requests for Blocking/Hot-listing of Debit card, by calling our below toll free numbers:
Australia 1800-012-473 Oman 800-757-92
Bahrain 80-801-724 Qatar 00800-100-157
Belgium 80-076-562 Russia 810-800-293-010-12
Canada 1866-3284-209 Saudi Arabia 800-814-4209
France 800-740-849 Singapore 800-101-2333
Germany 800-183-0736 South Africa 800-982-360
Hong Kong 800-932-045 UAE 800-091-190-05
New Zealand 800-449-909 UK 808-101-7633
Italy 800-789-407 USA 1866-328-4209
Japan 006-633-812-439 1800 425 3800 or 1800 11 2211
India
Netherlands 800-022-3031 or +91-80-26599990 (chargeable)