General information, not tax, legal or banking advice. Bank networks change; check the bank's own website before you travel to a branch. Last checked October 2026.
- SBI has the largest US footprint of any Indian bank, and State Bank of India (California) is a separate FDIC-insured US bank with branches across California.
- ICICI Bank, Bank of Baroda, Bank of India and Canara Bank each have a branch in New York; Bank of India also has a San Francisco agency.
- HDFC Bank has no branch in the USA. It serves US-based NRIs online.
- US branches of foreign banks are generally not FDIC-insured and are restricted from taking small retail deposits, which is why most will not open a personal account for you.
- You do not need a US branch to open or run an NRE, NRO or FCNR account. Online applications with notarised or embassy-attested KYC are the normal route.
- Indian accounts held by US residents must be reported on FBAR and, above the thresholds, on Form 8938. NRE interest is tax-free in India but taxable in the US.
Which Indian banks have branches in the USA?
Here is the US presence of the Indian banks people most often ask about, as of October 2026. A branch can book loans and deposits; an agency can lend but generally cannot take deposits from US residents; a representative office can only market and liaise, not do banking business.
| Bank | US presence | Where | Walk in to open a personal NRE/NRO account? |
|---|---|---|---|
| State Bank of India | Branches and an office; separate California subsidiary | New York, Chicago, Los Angeles, Washington DC; SBI California branches across the state | No at the branches (attestation only). SBI California is a US bank with its own US accounts. |
| ICICI Bank | Branch and representative offices | New York branch; representative offices in California and Texas | No. The New York branch is a wholesale branch. |
| Bank of Baroda | Branch | New York | Check with the branch; mainly corporate and trade business |
| Bank of India | Branch and agency | New York branch, San Francisco agency | Check with the branch; mainly corporate and trade business |
| Canara Bank | Branch | New York | Check with the branch; mainly corporate and trade business |
| HDFC Bank | None | No US branch or office | Not applicable. Apply online with HDFC Bank in India. |
If a search result tells you an Indian bank has dozens of US branches, it is usually counting ATMs of a partner bank, money-transfer agents or the bank's India branches. Check the bank's official website, or the FDIC BankFind and Federal Reserve listings, before you rely on it.
›State Bank of India (SBI)
SBI, India's largest bank, has the widest US network of any Indian lender. Its US offices are in New York, Chicago and Los Angeles, with an office in Washington DC. According to SBI's own NRI services page, these US offices can attest your NRE, NRO and FCNR account-opening forms and KYC documents, but they do not accept the applications themselves; you send the attested forms to SBI in India. Some offices do this only on a non-solicitation basis, which means you sign a declaration that you approached them, not the other way round.
State Bank of India (California) is different. It is a separate, US-chartered subsidiary of SBI, regulated by the FDIC (FDIC certificate 23998), with branches in Los Angeles, Cerritos, Woodland Hills, Fresno, Fremont, San Jose and San Diego. It offers ordinary US checking, savings and CD accounts, insured by the FDIC up to the usual limits. It is the closest thing to a retail Indian bank branch in the USA, but an account there is a US account, not an NRE or NRO account in India.
›ICICI Bank
ICICI Bank has a New York branch and has set up representative offices in California and Texas. The New York branch is a wholesale branch that serves companies and institutions, not individuals. Most US-based NRIs bank with ICICI through its online NRI account opening and its Money2India remittance service, both run from India.
›Bank of Baroda
Bank of Baroda has a branch in New York. Its business is mainly trade finance, corporate banking and correspondent banking for Indian firms. If you already bank with Bank of Baroda in India, the New York branch may be able to help with documentation, but call ahead before you visit.
›Bank of India
Bank of India has a branch in New York and an agency in San Francisco. As with the other public-sector banks, the focus is trade and corporate business, so confirm by phone what they can do for a personal NRI customer.
›Canara Bank
Canara Bank has one US branch, in New York. It mainly handles trade finance and remittance business for Indian corporates.
›HDFC Bank, Axis Bank, Kotak and other private banks
HDFC Bank does not have a branch in the USA. Its overseas offices are in places such as Bahrain, Dubai, Hong Kong and Kenya. US-based NRIs open HDFC NRE, NRO and FCNR accounts online and send KYC documents by courier or complete them by video, where the bank offers it. The same online-first model applies to most private banks, including Axis Bank and Kotak Mahindra Bank, whatever their overseas presence elsewhere.
Why most Indian bank branches in the USA won't open your account
Two things limit what these US offices can do for an individual NRI.
First, US law. Since the FDIC Improvement Act of 1991, a foreign bank's US branch cannot get FDIC deposit insurance; a foreign bank that wants to take small retail deposits must set up an insured US subsidiary, which is exactly what SBI did in California. Uninsured branches are generally restricted from accepting retail deposits below the FDIC insurance limit, with narrow exceptions. So most Indian bank branches in the US focus on wholesale and corporate business.
Second, Indian rules. An NRE or NRO account is an account in India, opened and held by the bank's Indian branch under RBI and FEMA rules. A US office cannot open it for you; at most it can verify your identity and forward or attest the paperwork.
The practical result: for most NRIs in the US, the nearest Indian bank branch is useful for attesting documents and for talking to a person, not for day-to-day banking.
What an Indian bank's US office can still help with
- Attesting your passport, visa and address proof for NRE, NRO or FCNR account opening, so you don't need a notary.
- Attesting KYC documents when your India account is frozen for re-KYC.
- Guidance on NRI home loans from the bank in India, and in some offices attesting the loan application.
- Answering questions about the bank's remittance products.
- For SBI California customers: ordinary US checking, savings and CD accounts.
If your account in India has been blocked for KYC, see our guide to completing re-KYC from abroad. Many banks also accept documents attested by a notary public in the US or by the Indian embassy or consulate.
How to open an NRE or NRO account from the USA without a branch
Attestation is the step people get stuck on. Banks generally accept KYC copies certified by the overseas branch of an Indian bank, a notary public in your country of residence, or the Indian embassy or consulate. Some banks also run video KYC for NRIs. Each bank sets its own process, so follow its checklist.
Not sure which account you need? Our account comparison tool walks you through NRE, NRO and FCNR based on where your money comes from. The full rules are in our NRE, NRO and FCNR guide.
Is your money safe? FDIC vs DICGC
- FDIC-insured up to $250,000 per depositor, per ownership category
- US account in dollars
- Covered by US rules, not RBI rules
- Generally not FDIC-insured
- Mostly corporate and wholesale deposits
- Rarely open to personal accounts
- Insured by DICGC up to ₹5 lakh per depositor, per bank
- Covers principal and interest together
- Governed by RBI and FEMA
The government has been considering a higher DICGC limit in 2026, so check the current figure on dicgc.org.in. Large balances above these limits rely on the strength of the bank itself, so spread big deposits across banks if that matters to you.
How to choose the best Indian bank for NRIs in the USA
There is no single best Indian bank for NRIs in the US. Physical branches matter far less than they used to. Compare these instead:
- Where your existing relationship is. If your family accounts, home loan or property paperwork sit with one bank, keeping your NRE and NRO accounts there saves time when you sell or repatriate.
- The remittance route and its real cost. Compare the rupee amount that lands, not the advertised fee.
- Online banking that works from the US: OTPs to an overseas number, a working mobile app, and online forms for repatriation.
- How the bank handles Forms 145 and 146 (the old 15CA and 15CB) when you move money out of an NRO account.
- Whether an office near you can attest documents, which helps if you dislike couriering originals.
Keep your Indian mobile number alive or register an overseas number for OTPs before you leave India; losing it is one of the most common ways NRIs get locked out. More pitfalls are in our list of NRI banking mistakes, and our remittance guide shows how to compare two transfer quotes.
US tax reporting for Indian bank accounts
If you are a US citizen, green-card holder or US tax resident, your Indian accounts are part of your US tax picture.
- FBAR (FinCEN Form 114): required if the combined maximum balance of all your foreign accounts exceeds $10,000 at any time in the year. NRE, NRO and FCNR accounts all count.
- Form 8938 (FATCA): required above higher thresholds, for example more than $50,000 at year end or $75,000 at any time for a single filer living in the US.
- Interest: NRE and FCNR interest is tax-free in India, but the US taxes your worldwide income, so it goes on your US return. NRO interest is taxed in both countries, with a foreign tax credit in the US for the Indian TDS.
- Indian mutual funds held by US persons can fall under the PFIC rules, which are expensive to comply with.
Our FBAR guide covers deadlines and penalties, and the US investments tax guide covers PFIC.
Selling property in India from the US: which account receives the money?
This is where account choice really matters. Sale proceeds of property in India are usually credited to your NRO account. You can then move up to USD 1 million per financial year from NRO balances abroad, after the CA certificate and declaration on Forms 146 and 145. If the property was bought with money from abroad, proceeds can be repatriated under separate rules, limited to two residential properties.
Before the sale, the buyer deducts TDS on an NRI seller's gain, which is why a Form 128 lower TDS certificate matters. Our step-by-step guide to selling property in India from the USA covers documents, power of attorney, TDS, and how the gain is reported on your US return. If you'd rather hand the whole process to someone, see our property sale service.
Common mistakes
- Travelling to a US branch expecting to open an NRE account over the counter. Call first; most can only attest documents.
- Assuming deposits at a US branch of an Indian bank are FDIC-insured. Generally they are not; SBI California is the exception because it is a US bank.
- Keeping a resident savings account in India after becoming an NRI instead of converting it to NRO.
- Forgetting to report NRE and NRO accounts on FBAR because the interest is tax-free in India.
- Letting your Indian mobile number lapse, which blocks OTPs, UPI and online repatriation forms.
If you still hold a resident account, here is how to convert it to NRO.
Which Indian banks have branches in the USA?
State Bank of India (New York, Chicago, Los Angeles, a Washington DC office and its California subsidiary), ICICI Bank (New York), Bank of Baroda (New York), Bank of India (New York, plus a San Francisco agency) and Canara Bank (New York). Most of these branches focus on corporate and trade business.
Does HDFC Bank have branches in the USA?
No. HDFC Bank has no branch in the US. NRIs in the US open and run HDFC NRE, NRO and FCNR accounts online, with KYC documents sent by courier or completed by video where the bank offers it.
Does ICICI Bank have branches in the USA?
ICICI Bank has a branch in New York and representative offices in California and Texas, but the New York branch serves businesses, not individuals. Personal NRI accounts are opened online with ICICI Bank in India.
Can I open an NRE account at an Indian bank branch in the USA?
Usually not. An NRE account is held in India, so the US office can at most attest your documents. SBI's US offices, for example, attest account-opening forms and KYC but do not accept the applications.
Is State Bank of India California the same as SBI?
It is a US-chartered subsidiary of SBI, regulated and insured by the FDIC, with branches in California. Accounts there are US accounts, not NRE or NRO accounts in India.
Which is the best Indian bank for NRIs in the USA?
There is no single best bank. Choose based on your existing relationship in India, remittance cost, online banking from the US, and how smoothly the bank handles repatriation paperwork. A physical US branch matters less than these.
Do I need to report my NRE account to the IRS?
If you are a US person and your foreign accounts together exceed $10,000 at any point in the year, you must file an FBAR, and Form 8938 may also apply. NRE interest is tax-free in India but taxable on your US return.
Are deposits at Indian bank branches in the USA FDIC-insured?
Generally no. Foreign bank branches in the US have not been able to get FDIC insurance since 1991. SBI California is FDIC-insured because it is a US bank. Deposits held in India are covered by DICGC up to ₹5 lakh per depositor per bank.
Need help choosing the right account before you sell, or moving sale proceeds to the US? Our banking team can sort out the accounts and the repatriation paperwork.