Quick answer: Only 3 Indian banks have physical branches in Australia . These are SBI, Bank of Baroda, and Union Bank of India. All are in Sydney CBD; SBI also has a Melbourne branch. HDFC, ICICI, and Axis are online-only for NRIs in Australia. While most banking can now be done online, these branches can help with NRE/NRO accounts, remittances, trade finance, fixed deposits, and other India-related banking services.
Indian Bank Branch Directory in Australia
All four branches are in central business districts. There are currently no Indian bank branches in QLD, WA, SA, or ACT . If you’re outside Sydney or Melbourne, account opening must be done online or by post.
| Bank | City | Address | Phone | Hours (Mon–Fri) |
|---|---|---|---|---|
| SBI Australia | Sydney | Level 31, Suite 02, 264 George St, NSW 2000 | 02 9241 5643 | 9:30am – 4:30pm |
| SBI Australia | Melbourne | Level 9, 416–420 Collins St, VIC 3000 | 03 8637 7930 | 9:30am – 4:30pm |
| Bank of Baroda | Sydney | Level 7, 265 Castlereagh St, NSW 2000 | 02 9087 7400 | Call to confirm |
| Union Bank of India | Sydney | Level 9, 20 Hunter St, NSW 2000 | +61 2 9221 2766 | Call to confirm |
What Services Do These Branches Offer?
These are not full retail banks like a Commonwealth or NAB branch. Their core focus is NRI banking, remittance to India, and wholesale/corporate services.
| Bank | NRE Account | NRO Account | FCNR Deposits | Remittance | Primary Focus |
|---|---|---|---|---|---|
| SBI Australia | ✅ | ✅ | ✅ | ✅ | Retail + NRI banking |
| Bank of Baroda | ✅ | ✅ | ✅ | ✅ | Wholesale + NRI deposits |
| Union Bank of India | ✅ | ✅ | ✅ | ✅ | Corporate + NRI accounts |
NRE vs NRO Account : Which One Do You Need?
This is the most common question. The short answer: earning in Australia → NRE. Income still coming from India → NRO.
NRE Account — For Australian Income
- Deposit your AUD earnings in INR
- Interest is tax-free in India
- Fully repatriable — move money back anytime
- Best for: salary & savings earned in Australia
NRO Account — For Indian Income
- For rent, dividends, pension from India
- Interest is taxable in India (TDS applies)
- Repatriation capped at USD 1 million/year
- Best for: income still flowing from India
What About FCNR Deposits?
FCNR (Foreign Currency Non-Resident) accounts let you hold fixed deposits in AUD in India . No currency conversion risk, and interest is tax-free in India. Worth considering if you want to park a lump sum without converting to INR.
Opening an NRE/NRO Account From Australia — What You Need
Documents Required
| Document | Purpose | Notes |
|---|---|---|
| Indian Passport | Identity proof | Copy of all pages including visa stamps |
| Australian Visa / PR / Citizenship | NRI status proof | Student, skilled, or PR visa all accepted |
| Overseas Address Proof | Current residence | Utility bill or bank statement (last 3 months) |
| PAN Card | Tax identification | Mandatory — apply online at incometax.gov.in |
| Passport-size photos | Application form | Usually 2 copies required |
- Not in Sydney or Melbourne? All three banks let you start online. SBI has the YONO app; Bank of Baroda has an online NRI portal. No branch visit needed.
- Book an appointment first. SBI and Bank of Baroda require prior appointments for NRI account opening — call before turning up.
- LRS / TCS note: Remittances above ₹7 lakh from India attract TCS under the Liberalised Remittance Scheme. Keep records — you can claim it back in your Indian ITR.
- Australia–India DTAA: NRE account interest is tax-free in India, but you may need to declare it in Australia depending on your tax residency. Check with a tax adviser.
- Online-only alternatives: HDFC, ICICI, and Axis Bank all offer NRE/NRO account opening for Australian residents entirely online — no local branch needed.
- SBI Australia — sbiaustralia.com.au
- Bank of Baroda Australia — bankofbaroda.com.au
- Union Bank of India — unionbankofindia.co.in
- RBI — Indian Banks’ Foreign Branches (Nov 2025) — rbidocs.rbi.org.in
- Income Tax India — NRE/NRO/FCNR rules — incometaxindia.gov.in
Last verified June 2026. Branch details can change — always confirm directly with the bank before visiting. This article is for informational purposes only and does not constitute financial advice.
