SBI Mutual Fund is an Asset Management Company (AMC), incorporated on 29 June 1987. It was started as a trust with the State Bank of India (SBI) as the sponsor and SBI Mutual Fund Trustee Company Private Limited as the Trustee. SBI later signed an agreement with Amundi Asset Management on 13 April 2011 making it a joint venture with SBI holding 63% and Amundi holding the remaining 37%. SBI Funds Management Private Limited (SBIFMPL) is the designated AMC of SBI Mutual Fund. In this article, we take a look at a comprehensive overview of SBI Mutual Fund for NRIs, different schemes, NAV, performance, and more.
Also Read: How NRI invest in India: Mutual Funds
Overview of SBI Mutual Fund for NRIs
SBI Funds Management Private Limited (SBIFML) is one of the largest fund houses in India and the second oldest to offer mutual funds after UTI Mutual Funds. It was the first one to launch Contra Funds and ESG Funds in India alongside various other key milestones. Employee Provident Fund of India (EPF) invested in mutual funds for the first time in 2015 via SBIMF’s Sensex ETFs.
SBI Mutual Fund has managed over Rs 791,796 crores approx. in Assets under Management (AUM) in India and has a market share of 17.83% of the industry AUM. SBI Mutual Fund offers 139 primary mutual fund schemes for resident Indians and Non-residential Indians (NRIs) alike spread across equity, debt, hybrid, and other funds like ETFs, index funds, gold funds, and more.
Also read:
Tata Mutual Fund for NRIs – A Comprehensive Overview of Schemes, NAV, and Performance
UTI Mutual Fund for NRIs – A Comprehensive Overview of Schemes, NAV, and Performance
HDFC Mutual Fund for NRIs – A Comprehensive Overview of Schemes, NAV, and Performance
Can NRIs invest in SBI Mutual Funds?
Yes, NRIs can easily invest in SBI mutual funds after getting their Mutual Fund KYC done and linked to their NRO/NRE Bank accounts. They can invest in various mutual fund schemes and generate good returns in the long term. This helps NRIs to build a fund that can match their investment goals and secure their future for any long-term financial needs.
The FEMA Act, RBI rules, and SEBI guidelines govern the rules and regulations regarding NRI investments in mutual funds which is why it has a slightly different procedure than that of resident individuals. Keeping in check with the FEMA Act, the funds on offer for NRIs from the US & Canada to NRIs from other countries may sometimes vary.
Also read: Best Mutual Funds for NRI in India 2023
How can NRIs invest in SBI Funds Management Private Limited (SBIFMPL)?
NRIs and OCIs can download the SBNRI app to invest in mutual funds from the country of their residence. Here are a few simple steps you need to take:
- Complete your NRI KYC: Type in your personal details and attach supporting documents, like:
- PAN Number
- Overseas address proof: Any – Water/electricity bills, postpaid mobile/internet bills, rent agreements, driving licenses, etc.
- Passport – front and back
- Passport size photograph
- Signature
- Onboarding: After KYC, you need to share the following details to complete the onboarding process and start investing in SBI Mutual Fund for NRIs
- Onboarding: After KYC, you need to share the following details to complete the onboarding process and start investing:
- City and country of birth
- NRE/NRO bank account statement/ canceled cheque for the last 3 months
- Nominee details
Top 10 Performing SBI Equity Mutual Funds for NRIs
| Fund Name | Fund Size (In Crores) | Expense Ratio | Current NAV (INR) | 1 YR | 3 YR |
| SBI Contra Fund Growth for NRI | 14,608 Cr | 1.7% | 278.57 | 26.76% | 37.48% |
| SBI Small Cap Fund Plan Growth for NRI | 20,912 Cr | 1.8% | 134.75 | 16.47% | 31.77% |
| SBI Magnum Midcap Fund Growth for NRI | 12,555 Cr | 1.8% | 180.25 | 19.18% | 33.65% |
| SBI Infrastructure Fund Growth for NRI | 1,209 Cr | 2.2% | 35.43 | 32.30% | 34.62% |
| SBI PSU Growth for NRI | 679 Cr | 2.4% | 20.16 | 39.92% | 36.31% |
| SBI Consumption Opportunities Fund Plan Growth for NRI | 1,575 Cr | 2.2% | 243.73 | 16.86% | 32.64% |
| SBI Technology Opportunities Fund Growth for NRI | 3,216 Cr | 2.0% | 159.04 | 21.08% | 23.01% |
| SBI Long Term Equity Fund Growth for NRI | 15,587 Cr | 1.7% | 292.16 | 28.34% | 26.57% |
| SBI Healthcare Opportunities Fund Growth for NRI | 2,093 Cr | 2.1% | 278.56 | 25.46% | 15.51% |
| SBI Large & Midcap Fund Growth for NRI | 14,682 Cr | 1.7% | 451.14 | 14.82% | 27.22% |
Also read: Best Equity Mutual Funds for NRIs to Invest in 2023
Top 5 Performing SBI Debt Mutual Funds for NRIs
| Fund Name | Fund Size (In Crores) | Expense Ratio | Current NAV (INR) | 1 YR | 3 YR |
| SBI Credit Risk Fund Plan Growth for NRI | 2,725 Cr | 1.5% | 39.73 | 8.10% | 6.19% |
| SBI Magnum Medium Duration Fund Growth for NRI | 7,070 Cr | 1.2% | 44.49 | 7.24% | 5.22% |
| SBI Magnum Gilt Fund Growth for NRI | 7,255 Cr | 0.9% | 56.96 | 7.15% | 5.09% |
| SBI Magnum Income Fund Growth for NRI | 1,676 Cr | 1.5% | 61.50 | 7.16% | 4.85% |
| SBI Dynamic Bond Growth for NRI | 2,974 Cr | 1.4% | 31.22 | 6.86% | 4.54% |
Also read: Best Debt Mutual Funds in India 2023 for Residents and NRIs
Top 5 Performing SBI Hybrid Mutual Funds for NRIs
| Fund Name | Fund Size (In Crores) | Expense Ratio | Current NAV (INR) | 1 YR | 3 YR |
| SBI Equity Hybrid Fund Growth for NRI | 59,810 Cr | 1.4% | 225.97 | 9.66% | 17.03% |
| SBI Multi Asset Allocation Fund Growth for NRI | 1,834 Cr | 1.7% | 44.79 | 15.68% | 13.65% |
| SBI Equity Savings Growth for NRI | 2,758 Cr | 1.2% | 20.06 | 13.08% | 13.07% |
| SBI Conservative Hybrid Fund Growth for NRI | 8,923 Cr | 1.1% | 60.92 | 10.58% | 12.19% |
| SBI Arbitrage Opportunities Fund Growth for NRI | 17,701 Cr | 1.0% | 29.94 | 7.40% | 5.08% |
Also read: Best SIP to Invest in 2023 – Top 10 SIP Mutual Fund Plans for NRIs
Top Performing SBI Tax Savings Mutual Funds for NRIs
| Fund Name | Fund Size (In Crores) | Expense Ratio | Current NAV (INR) | 1 YR | 3 YR |
| SBI Long Term Equity Fund Growth for NRI | 15,587 Cr | 1.7% | 292.16 | 28.34% | 26.57% |
Also read: List of Top Performing Liquid Funds for NRIs in 2023
Customer Care Details
For any query regarding any schemes offered by SBI Mutual Fund, you can contact the following address:
- Registered Address: 9th Floor-Crescenzo, C-38 & 39-, G Block, Bandra-Kurla Complex, Bandra (East), Mumbai – 400051. Branch Timing (9 am – 6 pm)
- Phone no: 022-61793000 / 1800-425-5425
- Email: [email protected]
How to Invest in SBI Mutual Funds as NRI?
NRIs can now download the SBNRI App and choose to invest in different SBI mutual funds for NRIs scheme from SBI Funds Management Private Limited (SBIFML) in India with ease. You can also get detailed investment advice from experts at SBNRI. Also, visit our blog and YouTube channel for more details.
SBNRI is an authorized Mutual Fund Distributor platform & registered with the Association of Mutual Funds in India (AMFI). ARN No. 246671. NRIs willing to invest in mutual funds in India can download the SBNRI App to choose from 2,000+ mutual fund schemes or can connect with the SBNRI wealth team to better understand Mutual Fund investments.
Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions. SBNRI does not intend to predict future returns, please read all related documents before investing.
FAQs
Can NRIs invest in SBI Funds Management Private Limited (SBIFML) Mutual Funds?
- Yes, NRIs can invest in SBI Funds Management Private Limited (SBIFML) Mutual Funds on a full repatriation and non-repatriation basis as long as they adhere to the Foreign Exchange Management Act (FEMA) guidelines. NRIs need to complete the KYC to invest in mutual funds in India.
How can NRI buy Mutual Funds from SBI Mutual Funds?
- Step 1: Set up an NRI Account: As per FEMA guidelines, after attaining the NRI status, you can’t park your money in a regular resident savings account in India and need to open an NRE or NRO account. Once the account is activated, you can start investing.
- Step 2: Get Your KYC Done: You need to complete the KYC process before starting investment in SBI mutual funds for NRIs in India.
Are SBI Mutual Fund’s schemes safe to invest in?
- Mutual funds are subject to market conditions and all market-linked investments come with a degree of risk. However, you can choose from low-risk to high-risk mutual funds to invest in as per your risk appetite and investing goals.
Which SBI Mutual Fund scheme is best for the short term?
- Generally, a short-term investment is ideal for up to 3 years. If you are planning short-term investment, consider SBI Mutual fund debt funds for NRIs. If your investment is up to three months, SBI Mutual Fund liquid funds for NRIs are ideal for you.
What is the taxation on SBI Debt Mutual Funds?
- The debt mutual fund tax has been changed with effect from April 1, 2023, after the Budget 2023 brought certain amendments. Debt mutual funds will no longer be allowed to avail of indexation benefits from FY 23-24. Any gains made on debt mutual funds investment will now attract taxation on applicable slab rates of the investor’s income bracket.
What are Debt funds vs. Equity Funds?
- Debt funds are mutual funds that invest money into fixed-income securities, corporate bonds, treasury bills, commercial papers, and more. On the other hand equity funds invest the money into stocks/shares of the company.
Are SBI debt mutual funds safer than SBI equity mutual funds?
- Debt funds invest in fixed-income securities, corporate bonds, treasury bills, commercial papers, and more while equity funds invest in stocks/shares of the company. This makes debt funds a relatively safer option as an investment than equity funds.
Are SBI equity mutual funds safer for NRIs?
- Equity mutual funds have high volatility and can be risky for investors. However, overseeing the returns generated by equity mutual funds for the past 15 years, these funds can be a great investment vehicle and offer great wealth-generation opportunities for NRIs.
Is SBI equity mutual funds safer than FD?
- Fixed deposits have a risk-free fixed income and are safer than equity mutual funds. However, as per the returns and growth opportunity, equity mutual funds look to be a better investment option for investors, residents, and NRIs alike.
What is the SBI liquid fund taxation for NRI?
- NRIs are liable to pay taxes on the capital gain earned from Liquid funds. The short-term capital gains for sell of liquid funds for a period under 3 years of holding are taxed at investor’s slab rates. After the Budget 2023 amendments, long-term capital gains won’t enjoy any indexation benefit and will be charged as per the investor’s slab rates removing the LTCG benefits altogether.
Can I invest from the USA in the SBI Mutual Fund?
- Yes an NRI can invest from the USA in India in various mutual fund schemes offered by SBI Mutual Funds for NRIs provided it complies with the FEMA Act, RBI guidelines, and SEBI guidelines.
Can NRI invest in SIP in SBI Mutual Fund in India?
- Yes, an NRI can invest in India through the SIP route in SBI Mutual Fund for NRI schemes. SIP stands for Systematic Investment Plan.
