SBI For closure or premature closure of an existing NRE / NRO / FCNR (B) deposit

The Form NRI-6 is a formal request used by State Bank of India (SBI) customers to terminate their non-resident deposit accounts, either at the time of maturity or before the scheduled date.

The key points of the form include:

1. Nature of the Request

• Action Type: Applicants must specify whether they are requesting a standard Closure (at maturity) or a Premature Closure.

   

• Account Scope: The form applies to NRE, NRO, and FCNR (B) deposits.

• Deposit Formats: It covers Term Deposits (TDR), Special Term Deposits (STDR), and Recurring Deposits (RD).

2. Required Identification

• Deposit Details: The user must provide the specific Deposit Number of the account being closed.

   

• Applicant Information: The names and signatures of the account holder(s) are mandatory for processing.

   

3. Disbursement of Funds

• Transfer to Account: Proceeds can be transferred directly to an existing SBI Savings or SBI Current account.

• Cheque Issuance: Alternatively, customers can request a cheque in various currencies, including INR, USD, GBP, EURO, AUD, CAD, or JPY.

4. Terms and Interest Stipulations

• Interest Adjustments: The applicant acknowledges that for premature withdrawals, interest payments will be subject to the prevailing rules set by the Reserve Bank of India (RBI) and State Bank of India.

   

• Compliance: By signing, the user agrees to the terms and conditions in force regarding the closure and withdrawal of non-resident deposits.