Yes, it is possible to convert an existing SBI savings account to an NRI/NRO account if you have changed your status from a resident Indian to a Non-Resident Indian (NRI) or Non-Resident Ordinary (NRO) account holder. To convert your SBI savings account to an NRI/NRO account, you need to follow the below steps:
- Submit proof of your NRI/NRO status such as your passport, visa, and proof of address in the foreign country.
- Fill out the NRI/NRO account conversion form and submit it to the SBI branch where you hold your savings account.
- Provide your NRI/NRO bank details.
- Your SBI savings account will be converted to an NRI/NRO account after completing the formalities and receiving the necessary approvals.
Note: You may have to pay some charges or fees for the conversion process. It is advisable to check with the bank for the exact charges and procedures.
Converting from existing SBI savings account to an NRI/NRO account PAN card is requires?
Yes, a PAN card is required to convert your existing SBI savings account to an NRI/NRO account. A PAN card is a mandatory document for all financial transactions in India, including opening and converting bank accounts. PAN card serves as a unique identity proof and helps in tracking financial transactions, which is why it is a mandatory requirement for NRI/NRO account conversions. So, you need to provide a copy of your PAN card while converting your SBI savings account to an NRI/NRO account.
