NRI from all over the world (excluding U.S.A. & Canada) can invest in this fund

INVEST VIA NRE/NRO

SBI Banking & Financial Services Growth for NRI [38.01]

Min Investment

5,000

Fund Size

6,120.42 Cr

Expense Ratio

1.8%

Exit Load

0.5%

SBNRI is a certified Mutual Fund distributor registered with Association of Mutual Funds in India (AMFI) with Reg. No. 246671

38.01

-0.75%

NAV as on 05 Oct 24, 12:00 AM

very high risk

sector financial services

equity

NAV as on 05 Oct 24, 12:00 AM

very high risk

sector financial services

equity

34.03%p.a.

Last 1Y

14.97%p.a.

Last 3Y

16.26%p.a.

Last 5Y

15.23%p.a.

Since Inception

About SBI Banking & Financial Services Growth for NRIs

NRIs can achieve long-term capital appreciation by investing in the SBI Banking & Financial Services Growth scheme from SBI Funds Management Ltd. It is a Sector - Financial Services mutual fund scheme that predominantly invests in Sector - Financial Services stocks of companies. Launched on Feb 2015, SBI Banking & Financial Services Growth is Sector - Financial Services fund of its category with 6,120.42 Cr fund under management as on Oct 2024. The expense ratio of this fund is less than that of most other Fund category Sector - Financial Services funds.

  • SBI Banking & Financial Services Growth delivered 34.0% annual returns during the last year. It has delivered 15.2% average annual returns since the fund was launched.
  • SBI Banking & Financial Services Growth scheme tends to consistently deliver higher returns than most schemes in the same category.
  • The scheme has predominantly invested in equity

Fund Objective

The investment objective of the scheme is to generate long-term capital appreciation to unit holders from a portfolio that is invested predominantly in equity and equity related securities of companies engaged in banking and financial services. However, there can be no assurance that the investment objective of the Scheme will be realized.

Top 10 Holdings

ICICI Bank Ltd

18.35%

HDFC Bank Ltd

16.35%

Kotak Mahindra Bank Ltd

9.60%

Muthoot Finance Ltd

5.32%

Power Finance Corp Ltd

4.57%

Bajaj Finance Ltd

3.76%

ICICI Lombard General Insurance Co Ltd

3.37%

State Bank of India

2.98%

Nippon Life India Asset Management Ltd Ordinary Shares

2.80%

Cholamandalam Investment and Finance Co Ltd

2.73%

Fund Managers

  1. Milind Agrawal (Aug 2019 - Present)
  2. Pradeep Kesavan (Dec 2023 - Present)

Key Information

View Scheme Document

SBI Banking & Financial Services Growth SIP Calculator

If invested

5,000

per month

For a period of

Investment of 0 could have been

0(+0.0%)

0 (+0.0%)

This Fund

0 (+0.0%)

Fixed Deposit

NRI Mutual Fund Tax on SBI Banking & Financial Services Growth

Just like for resident investors, capital gains from mutual fund investments are subject to income tax for NRI investors.

Fund TypeShort-term Capital Gains (STCG) TaxLong-term Capital Gains (LTCG) Tax
Equity mutual funds15%10% (above Rs. 1 lakh LTCG) without indexation*
Debt & other types of fundsAt tax slab rate20% with indexation benefits

How can NRIs invest in SBI Banking & Financial Services Growth?

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 of – Water/electricity bill, postpaid mobile/internet bill, rent agreement, driving license, etc.
  • Passport – front and back
  • Passport size photograph
  • signature

If all details are correct, your KYC will be approved within 7 to 8 business days.

  • Onboarding: After KYC, you need to share the following details to complete onboarding process and start investing in SBI Banking & Financial Services Growth
  • Onboarding: After KYC, you need to share the following details to complete onboarding process and start investing:
  • City and country of birth
  • NRE/NRO bank account statement/ canceled cheque for the latest 3 months
  • Nominee details

Frequently Asked Questions