With its flourishing economy and growing expatriate population, Oman has become a hub for Indian expatriates and Non-Resident Indians (NRIs) in recent years. There are over 6 lakh Indians residing in Oman making up 33% of the expat population and 13% of Oman’s total population. To cater to the financial needs of this community, several Indian banks have established a presence in Oman. Such presence of Indian banks in Oman has helped a lot of Non-Resident Indians (NRIs) to get seamless and hassle-free access to NRI services and other banking needs. In this blog, we’ll provide a comprehensive list of Indian banks in Oman along with their addresses and contact details.
List of Indian Banks in Oman: Branches & Contact Details
Major Indian banks like State Bank of India (SBI) and Bank of Baroda (BOB) operate in Oman via their overseas branches while there are a few Indian banks that have representative offices or exchange offices in Oman. Listed below are Indian banks in Oman:
- State Bank of India
- Bank of Baroda
- Union Bank of India (Exchange Office)
- Axis Bank (Via Partner Bank)
Also read: List of Indian Banks in Dubai: Address, Contact Details
State Bank of India(SBI) Branch in Oman
Given below is the address of SBI Bank Muscat Branch:
| Address | State Bank of India, Muscat Branch, Salalah House, CBD Area, Bait Al Falaj Street, P.O.Box 264, P.C.112, Ruwi, Muscat, Sultanate of Oman |
| Contact Number | (+968) 24704232, 24704233 |
| Fax No. | (+968) 24701580, 24704026 |
| [email protected] |
Bank of Baroda Sultanate of Oman Branch Address
Given below is the address of the Bank of Baroda Oman Branch:
| Branch | Bank of Baroda Greater Muttrah |
| Address | MBD Area, P.O. Box 1610 Postal Code 112 Ruwi, Sultanate of Oman |
| Contact Person | Mr. Manish Prasad (AGM, Chief Executive) |
| Phone Number | (00968) 24820484 (00968) 24816368 |
| Email ID | [email protected] [email protected] |
Union Bank of India Branch in Oman
Given below is the address of Union Bank of India Exchange Office Oman:
| Address | Oman International Exchange Company(LLC), P.O. Box 994, Jibroo, Hay Al Mina, Postal Code 114, Sultanate of Oman |
| Contact Number | 00968-24832197 00968-24830893 |
| [email protected] |
Top Indian Bank for NRI Account Opening in Oman
Here are some of the best NRI accounts for NRIs living in Oman:
| Bank | INTEREST RATE (%) P.A. | Minimum Monthly Balance required |
| HSBC Bank | 2% to 2.5% per annum | Average Quarterly Balance (AQB) of Rs 150,000 or more in a combination of savings account, current account and fixed deposit balances |
| SBI | – Balance < Rs. 10 cr: 2.70%– Balance Rs. 10 cr & above: 3.00% | – Rs. 1 lakh for Metro & Urban areas and– Rs. 50,000 for Semi-Urban and rural areas |
| HDFC Bank | – 3.50% (Rs. 50 Lakhs and above)– 3% (below 50 Lakhs) | Metro / Urban branches: AMB Rs.10,000Semi-Urban Branches: AMB Rs.5,000Rural Branches: AQB Rs.2,500 |
| ICICI Bank | – For balance Rs. 50 lakh or above: 3.50%– For balance below Rs. 50 lakh: 3% | Rs. 10,000 |
| Federal Bank | – Up to Rs. 1 lakh: 4.25%– Rs. 1 lakh to Rs. 10 lakh: 5.50%– Rs. 10 lakh to Rs. 25 lakh: 6.00%– Rs. 25 lakh and to Rs. 7.5 Crore: 7.00%– Rs. 7.5 Crore to Rs. 25 Crore: 6.25%– Rs. 25 Cr to Rs. 50 Cr: 6.25%– Rs. 50 cr upto Rs. 100 cr: 5.25%– Rs. 100 cr to Rs. 200 cr: 6.00%– Rs. 200 cr to Rs. 400 cr: 4.00%– Rs. 400 cr: 5.25% | The average monthly balance required for FED NRI Power is Rs. 5,000. |
Note: Interest rates are subject to periodic change.
Also read: NRI Account Opening in UAE: Top NRI Accounts 2023
SBI NRI Account Opening in Oman
SBI NRI Account Opening in Oman is simpler than you thought it was. Either you can apply for an SBI NRI account online through the bank’s website, or you can visit a branch in Oman. For example, the State Bank of India’s branch office in Oman offers an instant NRI account facility. So, you can open an SBI NRI account from Oman itself.
Also read: SBI NRI Account Opening: 2 Ways (No. 2 will surprise you)
Bank of Baroda NRI Account Opening in Oman
Bank of Baroda is one of the two major Indian banks operating a branch in Oman allowing NRIs and the Indian expat community to access banking services like NRI account opening, NRO/NRE FD, and much more. NRIs can easily open a Bank of Baroda NRI Account in Oman by applying for it via the bank’s website or by visiting the branch.
Also read: Bank of Baroda NRI Account Opening: Open NRI Account Online
How to open an NRI account from Oman?
For NRI account opening in Oman, NRIs need to visit the official website of the bank if they want to open an NRI account. Locate the NRI account application form and fill the form with relevant details. Once this is done, the bank representative will call you to further assist with the account opening process.
You can also open your NRI account from Oman online via SBNRI’s partner banks. Please refer to the below section for the online NRI account creation from Oman.
NRI Account Opening through SBNRI
To apply for an NRI account online, you have two options. You can either click the “Apply for NRI” button on this page or utilize the SBNRI app. The SBNRI app is a unique platform designed specifically for the convenience of opening an NRI account online. Here are the simple steps to apply for an online NRI account using the SBNRI app:
- Download the SBNRI app from either the Google Play Store or App Store.
- Log in to the app using your credentials.
- Tap on the “Open NRI account” button and choose the desired bank from the provided list.
- Utilize the in-app scanning feature to scan and upload your KYC documents.
- Finally, click on the “Apply” button, and your application will be submitted.
By following these steps, you can easily apply for an NRI account online using the user-friendly SBNRI app.
Contact SBNRI
Indian Banks operating in Oman offer various banking and investment services to NRI retail and corporate customers and citizens, such as NRE/ NRO accounts, fixed deposits, loans, and credit cards.
NRIs living in Oman can avail of a variety of online financial services available in India, including NRO, NRE account opening, investment in India, tax filing, and a lot more. You can download SBNRI App to apply for an NRI account with nominal documentation in just 10 minutes.
You can also click on the button below to open an NRI account. Also visit our blog and Youtube Channel for more details.
FAQs
Is SBI available in Oman?
- Yes, State Bank of India has a branch in Oman where you can open your NRI account.
Is Kotak Mahindra Bank in Oman?
- No, Kotak Mahindra Bank doesn’t have any branch or presence in Oman.
Is HDFC Bank available in Oman?
- No. HDFC Bank doesn’t have any branch or representative office in Oman. However, users can avail the NRI banking through their dedicated NRI customer care service and online medium.
Is Axis Bank available in Oman?
- Axis Bank has partnered with the National Bank of Oman to bring NRI banking services to the Indian diaspora living in Oman.
Which Indian banks have branches in Oman?
- State Bank of India (SBI) and Bank of Baroda (BOB) have branches in Oman while a few other Indian banks exchange offices.
Can NRIs open bank accounts in Oman?
- Yes, NRIs living in Oman can open Indian bank account provided they have necessary documents. They can apply for the NRI account opening in Oman in online as well as offline mode.
Which bank is best for Indians in Dubai?
- There are many Indian banks in Dubai catering to the NRI and OCI financial needs. You can refer the blog above to find the list of banks in Dubai for NRIs along with their contact details and also the best NRE accounts for NRIs/OCIs in Dubai.
