Nri Banking Choices

Banking Choices for Non Resident Indians

NRIs living abroad in the United States, UK, Canada, Australia, Germany or France often open bank accounts with banks that offer Nri banking services.

Nri Banking services help non resident Indians meet their obligations in India such as pay bills in India for expenses such property maintenance, life insurance premiums etc or perhaps to send money to family members in India.

There are many banks now that offer people of Indian origin nri banking facilities abroad. Banks advertise extensively to attract Indian customers. ICICI bank for instance uses noted film actor Sharukh Khan as a spokesman for promoting their bank. Recently I believe some banks were even offering Indian movie DVD's as an incentive to open accounts at their banks. NRIs now have many banks to select from when it comes to nri banking services.

Selecting a NRI Bank abroad

Shopping around always helps when it comes to selecting a bank. Some of the things you may want to consider are:

Location of the bank, is it easily accessible. Do they have a branch and a real time person to talk to when it comes to customer service. It is always easier to be able to talk to a person face to face rather than a customer service representative talking to you on a telephone from who knows where.

Don't let the free gifts be the deciding factor. Most banks offer the same types of accounts to non resident Indians. The interest rates on NRI accounts are governed by the Reserve Bank of India. Usually you will find them to be the same in most banks offering NRI banking services.

Customer service is what you should look for when deciding on a bank to do your banking. Nri's living abroad need customer service not only in the overseas country they live in, but also when they visit India. It always helps to bank with someone who has a branch abroad as well as in India.

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NRI's should keep in mind that even though the banks they deal with may be located in foreign countries, their Nri accounts are usually not protected by deposit insurance.

While local accounts may be protected in a particular branch and signs posted in the bank that the bank accounts are insured by way of deposit insurance, don't automatically assume that your NRI bank accounts in that bank are also insured. The chances are that they are not.

There are many Indian banks that do have branches in foreign countries across the world. A partial list is given below:

Indian Banks Abroad

Bank of Baroda Fiji

Branches in Fiji

86/88 Marks Street
G.P. O. Box - 57
SUVA
5 Tukani Street
PO Box 42
LAUTOKA
Queen's Road
P.O. Box 22
NADI
King's Road
P.O.Box 254
BA
Nasekula Road
P.O. Box 190
LABASA
Queen's Road
P.O.Box 3
SIGATOKA
P.O.Box 88
Vaileka Town
RAKIRAKI
Main Street
Nausori Town Council Complex
NAUSOR

In Mauritus

Bank of Baroda
P.B. No. 553
No.32, Sir William Newton Street,
Port Louis
Mauritius

In the United States of America

Bank of Baroda
One Park Avenue
New York, NY 10016

In the Bahamas

Bank of Baroda
Pilot House
East Bay Street
P.O.Box SS 19046
Nassau, Bahamas

In Guyana

Bank of Baroda
10 Avenue of the Republic
Georgetown, Guyana

In Brussels

Bank of Baroda
Rue de la Loi 28
1040 Brussels
Belgium

The State Bank of India

In Australia

Suite 2&3 Level 12,
234 George Street,
Sydney - Australia
NSW 2000
Tel : (00 61 2) - 9241 6965 , 8850 5598
Fax :9247 0536

In Canada

State Bank of India (Australia)
Suite 2&3 Level 12,an class="style9">SBI Canada
1450 Meyerside Drive,
Drive Suite #100,
Mississauga, Ontario - Canada
L5T 2N5
Tel : (001) - 905 565 8959 , 905 507 8232
Fax :905 565 8967
3471 Sheppard Avenue East,
Ontario,
Scarborough, Ontario - Canada
M1T 3K5
Tel : (001) - 416 754 0039 , 416 292 8775
Fax :416 754 0489
200 Bay Street Suite # 1600,
Royal Bank Plaza North Tower,
Toronto, Ontario - Canada
M5J 2J2
Tel : (001) - 1866 SBIC NOW
Fax :416 865 1735
6433 Fraser Street,
Vancouver B.C ,
Canada,
Vancouver B.C. - Canada
V5W 3A6
Tel : (001) - 604 731 6635 , 604 263 4604
Fax :604 731 5268

In Oman

State Bank of India
Salalah House CBD Area,
P.O.Box 264 Ruwi Postal Code 112 ,
SultanateofOman - Sultanate of Oman
Tel : (00 968) - 2470 4232
Fax :2470 1580

The Bahamas

State Bank of India
P.O. Box N-3118,Suite #201 affrey Square,
BayStreetNassau,
Nassau - The Bahamas
Tel : (001) - 242 326 2772 , 242 393 2261
Fax :242 326 3969

In UK

State Bank of India
118 Soho Road,
Handsworth ,
Birmingham - U.K.
B21 9DP
Tel : (0044) - 0121 515 0400 to 409
Fax :0121 515 0407
State Bank of India
630-632 Finchley Road,
London - U.K.
NW11 7RR
Tel : (0044) - 020 8458 7588 , 020 8458 3856
Fax :020 8209 0756
State Bank of India
25 Horsefair Street,
Leicester - U.K.
LE1 5BP
Tel : (0044) - 0116 242 8830 to 8839
Fax :0116 242 8837
State Bank of India
15 King Street,
London - U.K.
EC2V 8EA
Tel : (0044) - 020 7454 4324 , 020 7454 4315
Fax :020 7454 4423
State Bank of India
Carlton House ,
18 Albert Square ,
Manchester - U.K.
M2 5PE
Tel : (0044) - 0161 817 2530 to 2539
Fax :0161 817 2537
State Bank of India
Kings House,
The Green,
Southhall,
Middlesex - U.K.
UB2 4QH
Tel : (0044) - 020 8571 3679 , 020 8574 0111
Fax :020 8571 9302

In USA

State Bank of India
19 South La Salle Street,
Illinois,
Chicago, Illinois - U.S.A.
60603-1467
Tel : (00-1) - 312 621 0007 , 312 266 0425
Fax :312 621 0740
State Bank of India
707 Wilshire Blvd.,
19th Floor Suite 1995,
LosAngeles, California - U.S.A.
CA 90017
Tel : (00-1) - 213 414 1977 , 323 571 8686
Fax :213 622 2069
State Bank of India
460 Park Avenue,
NewYork - U.S.A.
N.Y.10022
Tel : (001) - 212 521 3221
Fax :212 521 3361
State Bank of India
460 Park Avenue,
NewYork, NewYork - U.S.A.
N.Y.10022
Tel : (001) - 212 521 3201
Fax :212 521 3360
State Bank of India
Pioneer Blvd.,
Artesia, California - U.S.A.
CA 90701
Tel : (00-1) - 562 402 4079 , 562 402 5667
Fax :562 865 0136

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State Bank of India foreign branches

In France

State Bank of India
12-14 -Point,
Des Camps Elysees, Paris - France
Tel : (00331) - 5377 2301 , 4577 3789

In Germany

State Bank of India
Mainzer Landstrasse 61,
60329 Frankfurt Main, Frankfurt - Germany
D-60052
Tel : (0049 69) - 27237 120/121
Fax :27237 138

In Hong Kong

State Bank of India
15th Floor Central Tower,
28 Queen's Road ,
CentralHongKong,
HongKong - Hong Kong
GPO Box 10125
Tel : (00 852) - 2523 2887 , 2574 4401
Fax :2868 1966

In Israel

State Bank of India
Diamond Exchange on Bldg,
P.B.No.163 Commercial Floor,
3JabotinskyStreetRamatGan,
TelAviv - Israel
52520
Tel : (00-972) - 36129436 , 37565400
Fax :36005376, 36005377

In Japan

State Bank of India
Nomura Fudosan Osaka Building, 6th Floor 8-15 zuchimachi 1-Chome,
ChuoKuOsaka,
Osaka - Japan
541 0052
Tel : (00 81) - 6271 3696 , 797 34 3211
Fax :6271 3693
State Bank of India
Yurakucho Denki Building,
South Tower 352 PO Box 580,
ChiyodaKu,
Tokyo - Japan
100 0006
Tel : (00 81) - 3284 0098 , 5491 0214
Fax :3201 5750

In China

State Bank of India
2202 K. Centre,
1010 uai Hai Zhonglu ,
Shanghai - Peoples Republic of China
Tel : (00 86 21) - 5405 1021

In Singapore

State Bank of India
135 Cecil Street #01-00,Singapore - Singapore br />069536
Tel : (0065) - 6222 2033 , 6224 5939
Fax :6225 3348

In South Africa

State Bank of India
3rd Floor use 11Cradock Avenue,
Rosebank 2196 Saxonwold 2132 ,
JohannesburgS.A.,
Johannesburg - South Africabr Tel : (00 27 11) - 778 4501 , 884 7668
Fax :788 6769

In Sri Lanka

State Bank of India
PO Box No.93,
16 Sir Baron Jayatilake Mawatha,
Colombo - Sri Lanka
Tel : (00 94 11) - 244 7166 , 244 6192
Fax :243 9404
State Bank of India
No.385, Galle Road,
Colombo - Sri Lanka
Tel : (00 94 11) - 237 0456
Fax :237 0456
State Bank of India
No.6, St. Lawrence Road,
Colombo - Sri Lanka
Tel : (00 94 11) - 236 1541 , 236 3362
Fax :236 1541
State Bank of India
16 Sir Baron Jayatilake Mawatha,
Colombo - Sri Lanka
Tel : (00 94 11) - 232 3856 , 272 7316
Fax :232 3856
State Bank of India
1111/1 First Floor,
Kotugodella Veediya,
Kandy - Sri Lanka
Tel : (00 94 081) - 492 3923

ICICI Bank Branches

ICICI Singapore

ICICI Bank
9 Raffles Place, # 50-01
Republic Plaza, Singapore 048619

HongKong

ICICI Bank
7014-7016, Two International
Finance Centre, No. 8,
Finance Street, Central
Hongkong

In Bahrain

ICICI Bank Limited, Bahrain
Branch, Building No 116
Road No 383, Block 316
P.O. Box 1494 , Manama
Center, Kingdom of Bahrain

In Sri Lanka

ICICI Bank Sri Lanka
58, Dharmapala Mawatha,
Colombo -07

In Qatar

1101, Qatar Financial Centre,
West Bay, PO Box No.24708
State of Qatar, Doha

In United Arab Emirates

ICICI Bank
505, level 5, Gate precinct
building 4, Dubai International
Financial Centre (DIFC),
Sheikh Zayed Road, P.O.
506529, Dubai, UAE

In USA

ICICI Bank
500, Fifth Avenue, 28th floor.
New York, NY 10110

State Bank of India in USA (Continued)

State Bank of India
2787 W. Shaw Ave.,
Ste 101,
Fresno, California - U.S.A.
CA 93711
Tel : (00-1) - 559 225 2401 , 559 271 9219
Fax :559 225 2516
State Bank of India
707 Wilshire Blvd.,
19th Floor Suite 1995,
LosAngeles, California - U.S.A.
CA 90017
Tel : (00-1) - 213 623 4022 , 323 934 5285
Fax :213 622 2069
State Bank of India
Black Mountain Road # C,
SanDiego, California - U.S.A.
CA 92126
Tel : (00-1) - 858 547 1505 , 858 547 1506
Fax :858 547 1507
State Bank of India
675 North First Street,
Suite 105,
SanJose, California - U.S.A.
CA 95112
Tel : (00-1 ) - 408 938 9241 , 408 247 8924
Fax :408 971 1406
State Bank of India
707 Wilshire Blvd.,
19th Floor Suite 1995,
LosAngeles, California - U.S.A.
CA 90017
Tel : (00-1) - 213 614 1975 , 323 939 1441
Fax :213 622 2069
State Bank of India
22019 Sherman Way,
CanogaPark, California - U.S.A.
CA 91303
Tel : (00-1) - 818 251 9761 , 818 703 0283
Fax :818 251 9780