May 14th, 2010 
Malvika
NRI funds have been a prime focus of most of the Indian banks for the advancement of their growth. Numerous products and numerous services have been introduced by Indian banks to attract the NRI funds. With the tremendous increase of NRIs transactions of funds to India, many banks in Andhra Pradesh are by far the most successful banks in tapping the largest part of NRI funds in as compared with banks of other states in India.
Andhra Pradesh consists of a very large NRI community. Competition prevails out between several banks in the entire state to turn on NRI deposits. The success of these banks depends upon the products and services they offer to NRI customers which generally includes opening of NRE, NRO and FCNR accounts, high interest rates, remittance and Internet banking facilities, 24 hours customer services and so on.
The Andhra Bank is good for those NRIs who travel often. This bank has a broad network of many branch offices and is famous for its quick and efficient service. SBI also has a wide presence in Andhra Pradesh. The Bank has a special “Pravasi NRI Cell” located at its branch of Yerramukkapalle.
ICICI Bank Limited consists of many branches in the state and also many unique and excellent online facilities especially for NRIs. HDFC Bank is also a good option regarding these facilities. The list of the branches of ICICI bank can be found easily in their official site.
Other banks include State Bank of Travancore, The South Indian Bank, Citi Bank and the AXIS Bank which can be well chosen by you according to your needs.
Before finalizing the NRI bank it would be best to do a research on the banks which best satisfies your needs. Research can include reading of newsletters published by various banks, getting bank information online, inquiring about customer services, its market reputation and many more as per your requirement.
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