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Can US citizen with OCI open account & CDS in SBI(India) and buy property in India?

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Will they get the same interest rate in SBI like Indian citizen and will they have to pay extra money to buy property???Where else can they open account in India??Please answer.

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Can an OIC open a bank account in India,oci can open bank account in india

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  1. Karthick on Mar 16, 2011 reply

    S u can buy property in India but u cant buy an agricultural land.

    They will get more interest from u since ur considered as NRI.

    The money for the property will b fixed by the property owner.

    But there is a big problem that is the payment mode if u pay the money through bank u have to pay only white money for which u have get Income tax clearance.

    U can’t register the property for under value so the owner must agree to registering it for the exact value of the property which is again a problem.

    If all favours u, u can buy property here

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