How to plan your investments in India through Standard Chartered NRI Investment solutions

NRI (Non-Resident Indian) by definition is an Indian or a person of Indian origin (POI), residing overseas for more than 182 years in a given year. According to the Ministry of External Affairs, there are 28 million NRIs and POIs residing outside of India.  Indian banks offer NRE(Non-Resident External) and NRO (Non-Resident Ordinary) bank accounts to NRIs, opening a new door for them with many possibilities of investing in India with the money earned overseas as well as with the income generated here in India through property rentals, sales, businesses, etc. NRE accounts are primarily used to deposit foreign incomes and salaries whereas NRO accounts are used to manage income through properties and rentals in India.

NRIs are taxable for the income earned in India, making it essential for them to invest in tax saving investment options like Provident Fund, National Pension Scheme and ELSS. Investing in India is a great opportunity to build wealth for most NRIs and Standard Chartered Bank provides NRI investment solutions in major investment options such as the public sector, private sector, stock market, bonds, etc. Standard Chartered has a dedicated team of well trained and experienced professionals who deliver the best investment experience for NRIs. 

 Standard Chartered NRI investment Solutions. Source: Standard Chartered

Plan your investments in India with Standard Chartered NRI Investment solutions:

These are some of the best investment and insurance options provided by the Standard Chartered bank. 

Invest in Indian stock market:

The Portfolio investment scheme by RBI allows NRIs to directly invest in the Indian Stock Market. Standard Chartered bank offers PIS (Portfolio Investment Scheme) Accounts to NRIs through some designated branches. With this account, NRIs can buy and sell shares as well as convertible debentures of BSE/NSE listed Indian companies. These transactions are routed through his/her NRE/NRO bank accounts. Through PIS account NRIs can also invest in equity mutual funds, futures and options. The bank offers a three-in-one account which is NRO or NRE account with PIS and Demat Accounts included, which makes account setup for investment easier.

Securities and bonds:

Standard Chartered bank offers fixed income bonds and securities such as Short-Dated securities (tenors shorter than one year) and Long-Dated securities (tenors longer than one year). 

Several short-dated securities include:

• Commercial Paper
• Bank Certificates of Deposits
• Government of India Treasury Bills.

Several long-dated securities offered by Standard Chartered Bank:

• Private Sector
• Public Sector Corporate Bonds
• Government of India securities

These investment options help NRIs to customize their investment portfolio to reap maximum benefits. 

Child’s Plan & Retirement:

Standard chartered provides investment options that can help a kid’s education expenses. Through the child’s plan, NRIs can choose to invest a certain amount monthly for a chosen number of years and the payout will be given periodically for the same number of years with added interest. The bank also offers retirement plans similar to that of a child’s plan. NRIs can buy their dream retirement house through property loans.  The interest rates are very low, starting from 8.3% along with zero processing fees.

Fixed Deposits:

The interest rates in fixed deposits and savings are usually higher in NRE and NRO accounts. NRE deposits can be opened for durations ranging from 1 year to 5 years. If the deposit amount is below Rs. 1 crore, the interest rates are:

•  7.25% per annum on deposits made for 391 days to 5 years
• 8.15% per annum for deposits made for 376 days to 390 days
• 1 year to 375 days can expect to earn 8.1% per annum. 

The interest rates for deposits above INR 1 crore will be 6.4% per annum.

Invest in Insurance:

Standard Chartered Bank also offers insurance plans to provide security and protection to NRIs and their family members. Several types of insurance plans offered by the bank include:

• General Insurance
• Health Insurance
• Insurance for Home/Home Content

Key Benefits of Investing with Standard Chartered Bank:

• Robust investment process designed to give NRIs the best possible investment experience.

• Understanding the financial and risk profile to better cater to the needs of customers.

• Regular portfolio review and balancing.
• Recommending the right asset allocation and products.
• Online and offline remittances solutions.
• Account holding NRIs can transfer money from anywhere in the world to their NRE/NR0 account in India.
• Easy access to market information on currency movements.
• Competitive pricing for forex and transaction execution.
• Comprehensive insurance plans with high coverage.
• Dedicated foreign exchange area in onshore banks.
• Better interest rates on Fixed Deposits and savings plans.
• Free international money transfers and flexibility to choose your currency.

Standard Chartered Bank has been there in India for around 150 years, operating in 43 cities with more than 100 branches. The bank offers a wide range of services for NRIs along with investment solutions including Loans, Mortgages, Credit Cards and Remittance services. The bank also provides opportunities in real estate investment through home financing and loans. Through both investments and insurance, Standard Chartered bank helps NRIs increase their wealth and protection.