Request to Convert Resident Indian SB Account to NRO

Submit this form by visiting your nearest State Bank of India branch. Ensure all required fields are completed and necessary documentation is included before submission. For any inquiries about the submission process or to verify your application status, contact your branch directly or reach out via their customer service email.

There are no specific deadlines for conversion; however, timely submission is advised to ensure uninterrupted banking services. Bank policies may update, so reviewing guidelines annually is beneficial. Changes in tax obligations may also affect the timeline.

The purpose of this form is to facilitate individuals in changing their banking status from Resident Indian to Non-Resident Indian. It is designed to help manage and streamline account transitions effectively to comply with legal and financial regulations. Properly filling out this form is essential for ensuring continued access to banking services without disruption.

• 1. Branch Name/Code: The name or code of the branch where the account is held.
• 2. Receipt Date: The date when the request form is submitted.
• 3. Account Holder's Name: Full name of the individual whose account is being converted.
• 4. Account Number: The current savings account number to be converted.
• 5. Date of Birth: Date of birth of the account holder for verification.
• 6. Current Address: The overseas address of the account holder.
• 7. Permanent Address: The permanent address which may be in India or overseas.
• 8. Aadhaar Number: Unique identification number for Indian residents.
• 9. PIO/OCI Card Number: Details of PIO or OCI card if applicable.
• 10. Nationality: Current nationality of the individual.

Failure to submit this form may result in the inability to convert your bank account status. Proper submission is crucial to avoid issues with compliance and legal banking operations. It is important to follow the guidelines to ensure all necessary documentation is completed.

• Account Status Issues: Failure to convert may keep your account classified as a Resident Indian account, leading to potential legal issues.
• Access Restrictions: Lack of proper status may result in limitations on banking operations.
• Non-Compliance Penalties: Not complying with guidelines could attract penalties from tax authorities.

• 1. Change in Residency: Applicable for individuals who've moved overseas and changed their residency status.
• 2. Account Management Abroad: For Indians living outside the country needing to manage financial accounts.
• 3. Tax Compliance: Required for ensuring adherence to tax obligations for NRIs.