SBI IBU has launched a Saving Account in Foreign Currency under the Liberalized Remittance Scheme of RBI and as per the IFSCA Circular no. F. No. IFSCA-FMPP0BR/1/2021-Banking-Part (1)/3 dated December 13, 2024.

Key Features:

• Foreign currency saving account to Resident Indians under LRS scheme of RBI.
• Available in currencies permitted by IFSCA.
• Rate of Interest will be 2.5% p.a. calculated on Actual/360.
• Nomination Facility will be provided to the customer.
• Online Banking access available for monitoring of funds and upload of request for transfer of funds, modifications in the account etc.
• Fixed Deposits is not allowed from SB LRS.

For more information on Saving Account under LRS, please get in touch with us at ibu@statebank.com,ops.ibu@statebank.com