crypto friendly bank
State Bank of India
Headquarters: Mumbai, India • Founded: 1996
About State Bank of India
State Bank of India is ranked #48 in the list of largest global banks by assets under management. It serves retail and corporate clients worldwide, offering standard commercial banking, wealth management, and capital markets access. Regarding digital assets, its stance is crypto-friendly, offering integrations with major exchanges and custodians.
Regulations & Trust Profile
Banking License Type
commercial bank license
Licensed/Regulated By
India Central Bank
MiCA Compliant (EU)
No / N/A
Deposit Insurance
India Deposit Insurance (up to $100,000)
Supported Services & Assets
Fees & Pricing
Account Monthly Fee
$10/mo
Crypto Trading Fee
1.5%
Wire Transfer Fee
$15
Crypto Withdrawal Fee
$5
Pricing Notes: Crypto services may require external account linking.
Pros
- Huge liquidity
- Global network
- FDIC/local deposit protection
Cons
- Rigid traditional structure
- No direct custody of crypto assets
Frequently Asked Questions
Is State Bank of India safe for crypto?
Is State Bank of India FDIC insured?
Yes, standard cash deposits are insured under the India Deposit Insurance scheme up to $100,000 or local equivalents. However, government deposit insurance schemes do not cover cryptocurrency holdings.
Does State Bank of India support business accounts?
What countries does State Bank of India operate in?
State Bank of India operates primarily in India, and supports international clients from IN.
What are State Bank of India's crypto fees?
Monthly account fees are $10. Crypto trading fees are 1.5%.
Can I send crypto directly from State Bank of India?
No, State Bank of India only supports fiat bank transfers and does not support on-chain cryptocurrency withdrawals.