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NRK Sandesham

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)

SL. No. Name of the Associate Banks


Q: Whether my NRE/ NRO/ FCNR account number will remain the 1. State Bank of Bikaner and Jaipur (SBBJ)
same? 2. State Bank of Hyderabad (SBP)
A: Yes. NRE/ NRO/ FCNR account number will remain the same except the 3. State Bank of Mysore (SBM)
Bharatiya Mahila Bank account number (12 digit). Account Numbers in 4. State Bank of Patiala (SBP)
Bhartiya Mahila Bank will be assigned new 11 digit account number on a 5. State Bank of Travancore (SBT)
later date.

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 a fresh KYC compliance to be done?


A: Yes, if it is not as per KYC compliance of SBI norms, otherwise it is not required. (Check with branch)

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.

Q: Whether I have to change the passbook of AB held with me.


A. You may continue to use the old passbook, but it is advisable to obtain a new passbook for producing it as a documentary
proof whenever required.

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.

SBI Singapore Launches Remittance to India through ATM


State Bank of India Singapore now has a new channel through which
money can be remitted to India. The Remittance through ATM service was
launched on 2nd March 2017 by the Chairman Smt. Arundhati Bhattacharya and
the High Commissioner of India to Singapore, HE Jawed Ashraf, jointly. This is in
addition to the existing channels for remittance facility offered by SBIS through
Internet Banking, Kiosk, e-Remit and also through its network of 6 branches.
With this service, the remitters get a wide reach (to over 20,000
branches within SBI group and over 80, 000 other bank branches across India),
quick service (transaction processed well within one minute) and a 24*7
convenient option (The service is available on all 25 SBI ATMs across Singapore).
This service is available to all account holders of SBI Singapore who are registered for Remittances. Money can be sent to
existing beneficiaries in India by debiting the senders account. The remitters will be able to use this 24*7 channel, all-round
the year. SBI exchange rates are competitive and one of the finest in the market. As a launch offer, no commission is being
charged.

IMPORTANT SECURITY TIPS FOR SAFE ONLINE BANKING


Access your bank website only by typing the URL in the address bar of your browser.
Do not click on any links in any e-mail message to access the site.
State Bank never sends e-mail and embedded links asking you to update or verify personal, confidential and
security details. NEVER RESPOND to such e-mails/phone calls/SMS if you receive.
Do not be lured if you receive an e-mail/SMS/phone call promising reward for providing your personal
information or for updating your account details in the bank site.
Please ensure you have the following to improve internet security:
Latest version of Operating System with latest security patches.
Latest version of Browsers (IE 7.0 and above , Mozilla Firefox 3.1 and above, Opera 9.5 and above,
Safari 3.5 and above, Google chrome, etc.)
Firewall is always enabled.
Antivirus signatures applied/updated
Scan your computer regularly with Antivirus to ensure that the system is Virus free.
Change your Internet Banking password at periodic intervals.
Always check the last log-in date and time in the post login page.
Avoid accessing Internet banking accounts from cyber cafes or shared PCs.
Government moves a fresh proposal to limit cash transactions at Rs 2 lakhs
The proposed Budget measure is aimed at discouraging black money through restricting cash
transactions from Rs. 3 Lakh to Rs 2 lakh. "The penalty for violating this is a fine equivalent to the
amount of transaction,". The penalty will be levied on the receiver of cash, that is, the seller. The limit
will be effective from 1st April 2017. The government also plans to make inclusion of the Aadhaar ID
mandatory in applications for Permanent Account Number (PAN) cards. The Aadhaar number will
also need to be quoted in Income-Tax Returns from 1st July 2017.

PAN card Online Application for Foreign residents ( Indian citizens)

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:

Proof of Identity Documents (Any one of the following documents)


Copy of Passport
Other National ID attested by Indian Embassy / Consulate / High Commission /Apostille
Person of Indian Origin (PIO) card issued by GoI
Copy of Overseas Citizen of India(OCI) card issued by GoI

Proof of Address Document (Any one of the following documents)


Copy of Passport
Other National ID attested by Indian Embassy/Consulate/High Commission/Apostille
Bank account statement in country of residence, duly attested by Indian Embassy/High Commission/
Consulate/Apostille
For enquiries/Status on PAN Card:
Person of Indian Origin (PIO) card issued by GoI
Toll Free : 1800 220 306
NRE bank account statement
1800 113 738
Overseas Citizen of India (OCI) card issued by GoI
Phone : 020 2721 8080
In essence, if you have a copy of your passport, you do not need anything else.

Logon to https://tin.tin.nsdl.com/pan/form49AA.html or http://www.myutiitsl.com/PANONLINE/form49AA.jsp and


fill the form 49AA online.
The fee for processing PAN application is Rs. 989.00. Payment can be made only by way of Demand
Draft payable at Mumbai. DD should be drawn in favour of 'NSDL - PAN'. The acknowledgement
number should be mentioned on the reverse of the demand draft.
The acknowledgement duly signed, affixed with photograph along with DD and proof of identity (name
in the application should be same as in the proof of identity) & proof of address as specified in the
application form is to be sent to NSDL at 'Income Tax PAN Services Unit, NSDL e-Governance
Infrastructure Limited, 5th floor, Mantri Sterling, Plot No. 341, Survey No. 997/8, Model Colony,
Near Deep Bungalow Chowk, Pune - 411016'.
Super scribe the envelope with 'APPLICATION FOR PAN Acknowledgement Number' (e.g.
'APPLICATION FOR PAN - 881010100000097').
Your acknowledgement, Demand Draft, if any, and proofs, should reach NSDL within 15 days from the
date of online application
Online NRI Account Opening

Click here
to apply

Checklist of Procedure to fill Steps after filling Frequently asked


Documents Online Online questions
required Application Application

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%

NRO Term Deposits (With effect from 1st March 2017)


Tenor Below Rs. 1 Crore Rs. 1 Crore and above
7 days to 45 days 5.50% 3.75%
46 days to 179 days 6.50% 3.85%
180 days to 210 days 6.75% 3.85%
211 days to less than 1 year 6.50% 4.00%
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 and up to 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

LOANS AGAINST THE SECURITY OF NRE/NRO/FCNR (B) DEPOSITS ( DL or O.D.)


1.00% over the rate paid on the relative fixed / term deposit offered as security
Loan against NRO and NRE Fixed Deposits (w.e.f. 01 October 2016)
In Foreign Currency: 1.50% over applicable FCNR(B) rate for the relative period at the time of extending the
Loan against security of FCNR (B) Deposits loan. In Indian Rupees: 2.90% over prevalent Bank's MCLR* (10.90% p.a. currently).
*Bank's MCLR is 8.00 % p.a. (w.e.f. 01st January 2017) and subject to change, without prior notice.
NRI HOME LOAN SCHEME

SBI Flexipay Home Loan


Higher loan amount eligibility (up to 1.2 times than ordinary Home Loans)
For salaried applicants of age 21-45 years
Minimum 2 years work experience
Reduced EMIs in initial years Click here
Moratorium period up to 60 months to apply
online

Can
operate Homefor
Loan given Loan account
purchase ofas anfor
plot Overdraft (OD)account
construction of house
SBI
SBIMaxgain
Realty Park
surplus funds
Customer cantoalso
reduce
availinterest
anotherburden
home loan simultaneously for
Home Loan Chequeconstruction
Book/Net Banking
of housefacility available for the home loan account
Minimum Loan amount
Repayment periodisup
Rs.20
to 10lakhs
years

Based on monthly income Home Loan amount can be sanctioned before


approved

finalizing the property/project


Property related documents to be submitted within 4 months
Pre-

Loans up to Rs.30 Lakhs can be availed at a concessional interest rate


SBI Hamara Ghar Interest rate is fixed for 2 years

Loan provided for purchase of new home by mortgaging existing


SBI Bridge property/home to meet shortfall in funds
Maximum tenure is only 2 years
Home Loan
Personal Loans for Home Loan Borrowers/Property Owners
Personal Loans offered for existing SBI Home Loan borrowers
Home Top-up For customers with good repayment record of 1 year
Loan
Personal Loans offered for existing SBI Home Loan borrowers
Insta Home For customers with good repayment record of 3 years
Can avail loans up to Rs. 5 lakhs through SBI Internet banking
Top-up loan
Personal loans up to Rs. 7.5 Crs by mortgaging existing property
Loan against Maximum Loan tenure is 15 years
Property
SBI NRI CAR LOANS

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 NRI DEMAT & PIS ACCOUNT

Non Resident Indians (NRIs) are permitted to invest in Secondary


(In Association Market
with SBICAP through their
Securities Ltd)NRE/NRO account under Portfolio
Investment Scheme (PIS) facility. The Portfolio Investment Scheme (PIS) allows NRIs to invest in shares of Indian
companies, in secondary market, under repatriation basis through a registered stock broker on a recognized stock
exchange. The investment on repatriation basis has to be made by way of funds from inward remittance of foreign
exchange through normal banking channels or out of funds held in NRE/FCNR (B) account maintained in India.

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

Some key features of NRE PIS are given below


Grant of permission on behalf of RBI to purchases shares/debentures through Indian stock market under Portfolio
Investment Scheme (PIS)
Calculation of capital gains tax and issuance of tax deduction certificate.

Demat account and Online/Offline Trading Account


A Demat or 'dematerialised' account holds shares in electronic form. SBICAP Securities will facilitate & manage the Demat
account of SBIs NRI customers. NRIs can opt for either Online or Offline trading accounts, based on their preferences.

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.

Other Value Added services


*Facility to avail for foreign currency loan/LC/BG for your
business need
*Exclusive desk for handling forex /remittance for customers
* Foreign Travel card and NRI family card
*Presence of investment advisors form SBI Life, SBI Mutual Funds,
Sbicapsec (Demat accounts)
*Lockers of multiple sizes ranging from small to extra large are
available
*Mini conference hall with Wi-Fi facility for business customers

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

Please contact us for facilitating the investment / clarifications.


Name & Emp-Code Desig & Assignment Phone-Office Mobile
Shri. Ajaya Kumar C AGM 0471-2723222 9446028483
Smt. Anju Fathima S Relationship Manager 0471-2724222 9895194511
Smt. Anitha V S Relationship Manager 0471-2723222 9496345391
Shri. Sathyan VT Relationship Manager 0471-2723222 8589062027
Miss. Priya Elizabeth Philip Relationship Manager 0471-2727222 9446309231

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)

Your Feedback is important to us.


We cordially invite your suggestions and views to improve our products and quality of services. Please write to Shri. Sajeesh MS, NRI Nodal Officer, at
nridesk.kerala@sbi.co.in . Please visit exclusive portal of our Bank for NRIs at www.onlinesbi.com/nri for more information on our products and services.
Disclaimer:
This Newsletter has been brought out with the sole intention of disseminating useful information to NRIs and does not purport to be a legal document or a
solicitation. In case of any variation between what has been stated herein and the relevant Acts, Rules & Regulations, Policy Statement, Banks instructions. etc, the
latter shall prevail.