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Here are some important reasons why you should choose State Bank of India, Sydney to keep your hard earned savings:

  • Very competitive interest rates in AUD.
  • Flexible tenors from 6 months to 5 years.
  • Options of depositing in all major currencies
  • Comfort of investing in a Govt of India majority owned bank
  • SBI has been trusted for generations by Indians all over the world to save their money.
  • Strong Balance Sheet. SBI is a bank untouched by the Global Financial Crisis.
  • Personalized and courteous service. We speak your language!
  • Easy transfer of funds to India or elsewhere through SBI’s world-wide network.
  • Deposit holders offered free remittance service to India

Terms for opening a deposit account

A minimum deposit size of AUD 250,000 is required to open the account for resident individuals. For Non-residents and other incorporated entities including superannuation funds, the minimum deposit size is AUD 20,000 The interest at the rate shown in our website is normally paid on maturity. However, interest can also be paid on annual or quarterly basis at suitably discounted rates at the option of the depositor.

Documents required for opening accounts:

    • Completed Account Opening Form set.
    • Photocopy of Passport.
    • Photocopy of Identification Documents.
    • One Latest passport size photograph of all the Deposit Holders.
    • Photocopy of address proof.
    • TFN number
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