scripbox logo

sbi nri mutual fund online

Invest in the best mutual funds recommended by Scripbox that are scientifically and algorithmically selected that best suit your needs. Let’s take a look at the top mutual funds to invest this year. Be it long-term, short-term, tax saving or your emergency needs. We have you covered.

Scripbox algorithm recommends 2-4 funds for investment for an investment asset class such as large cap, diversified, liquid etc. When you invest for an objective, the algorithm suggests the appropriate asset class and funds.

ABOUT SBI FUNDS PRIVATE MANAGEMENT LIMITED

SBI Funds Management Private Limited manages assets worth 358,018 crores and was set up on 7 February 1992. It’s current offering of mutual fund schemes includes 75 equity,227 debt and 54 hybrid funds.See top SBI Funds Management Private Limited funds

The SBI Mutual Fund Trustee Company Private Limited was set up as a trust under the Trust Act of 1882. This Trust controls the SBI Mutual Fund, one of India’s largest and oldest MFs. The SBI Mutual Fund is a Joint Venture (JV) between one of India’s largest and most profitable banks, the State Bank of India, and Amundi, which is a French asset management company

sbi nri mutual fund online

Funds recommended by Scripbox for 2021

SBI Focused Equity Fund (G)

SBI Focused Equity Fund (G)

Diversified

Recommended

Top Ranked

₹ 14,253 Cr

Fund Size

11.8%

3Y returns

SBI Magnum Ultra Short Duration Fund (G)

SBI Magnum Ultra Short Duration Fund (G)

Ultra Short

Recommended

Top Ranked

₹ 9,007 Cr

Fund Size

6.8%

3Y returns

NRI Mutual Funds Questions & Answers

Frequently asked questions

Can NRI invest online in mutual funds?

NRI can invest in mutual funds in India as long as they adhere to the Foreign Exchange Act. However, mutual fund asset management companies in India accept only local currency, based on the fact that the NRI has to open an NRO or NRE account with an Indian bank.  The investment can start once the account is activated whether as a direct investment or indirect through a power of attorney

Can I redeem SBI Mutual Fund Online?

Yes, you can redeem SBI mutual funds online in addition to other online services like switching or investing. Simply download the MyCams app on your mobile phone and complete your registration. Once you are registered, you can easily redeem your mutual funds. You can also redeem through SBI mutual fund website.

Can NRI invest sip?

Yes, NRI can invest in SIP under the condition of having an NRE or NRO account with an Indian bank as systematic Investment plans do not accept any currency other than the local one according to the regulations set by FEMA.

Do NRI pay tax on mutual funds?

Taxation for NRIs investing in Indian Mutual Funds is the same as taxation of resident Indians. The only difference is that for NRIs, there is a TDS of 15% for short term (< 1 year) and 10% for long term (> 1 year) in the case of Equities and a TDS of 30% for short term (< 3 years) and 20% post indexation benefit for long term (> 3 years) in case of Debt/Gold funds at the time of redemptions.

Is SBI Mutual Fund Safe?

SBI is one of the most trustworthy mutual fund investments in India. It is offering several types of scheme, and based on the scheme you choose the risk can be low, moderate, or high and the capital appreciation varies according to the type of fund and level of risk

Can NRI invest in PPF?

An NRI is not entitled to invest in Public Provident Fund Schemes. However, if an NRI is holding PPF before becoming an NRI, the investment can still be held until the maturity date on a Non-Repatriation basis. NRI cannot open a new PPF account or invest in PPF Schemes

What is the best investment for NRI in India?

There are several investment options for NRI in India like the ones for Indian residents, some of those options are:

  1. Fix Deposit Bank Accounts: Providing interest better than interest on saving account balance 
  2. Mutual Funds: Invest in mutual funds after analyzing your financial goals
  3. Direct Equity: An investor must gain a good understanding of the market before investing
  4. Real Estate: A better investment option for long term investments
  5. Bonds and Non-Convertible Debentures (NCDs): NCD is another option for NRIs who are looking for investments apart from mutual funds or the stock market.
  6. Certificate of Deposit: These are basically short term investments for retail investors with fixed returns
  7. National Pension Scheme (NPS): NPS is a retirement plan. The maturity benefits from an NPS are taxable.
  8. Government Securities: Government securities are generally considered a low-risk investment.

How can I transfer money from SBI Mutual Fund to a bank account?

Transferring money can be processed in the same way as redemption, mutual fund units can be redeemed either by using any of the supporting apps or through SPI mutual funds website. Once the redemption is done, the money will be automatically transferred to the bank account linked with the profile.

Can NRI maintain a savings account?

NRI is not allowed to hold bank savings accounts as this facility is available only to Indian Residents. NRI is entitled to hold a Non-resident Ordinary Account (NRO), Non-Resident External Account (NRE), or Foreign Currency Non-resident Account (FCNR)