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NRE Account Interest Rates: Detailed Guide

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NRE Account Interest Rates: Detailed Guide

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One of the crucial reasons to use an NRE account is that the interest earned on a DBS Treasures NRE account is exempt from taxes. Know more about NRE account Interest Rates with DBS Treasures!

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Key Takeaways: One of the compelling reasons to use an NRE account is that the interest earned on an NRE account is exempt from taxes. Read on to know more. NRE savings account interest rates
NRE accounts provide many benefits to NRIs: the ability to manage foreign income earned outside india, secure transfers of money to fulfil their India obligations and unlimited repatriations. In addition to this, interest earned on an NRE account is exempt from tax in India, making it an attractive savings option especially since many banks offer highly competitive interest rates.
NRE fixed deposit interest rates
An NRE account can be maintained as savings and deposits. Most banks calculate the NRE savings account interest on the balance available in the account at the end of the day. Interest is often paid quarterly or as decided by the bank. These interest rates differ depending on the account balance slabs. Most interest rates for NRE savings account begin from 3.5% per annum*. If you want to earn higher interest rates, you can opt for an NRE fixed deposit.
Tax advantage
NRE fixed deposit rates depend on the tenure for which you invest. Private and public sector banks typically offer interest rates starting from 3.5% per annum* for 1 to 5 year tenures. Fixed deposits are best suited for you if you are looking to balance your portfolio of high-risk investments with a lower risk asset.
Final Note: *Please note that the interest rates are applicable as on April 2020 and are subject to change. A higher interest rate combined with other conveniences such as full repatriability and easy remittances make an NRE account a must-have for NRIs.
The balance and interest earned in an NRE account are fully repatriable. Added to this, the interest earned on this account is tax-free in India. Unlike for other accounts in India, tax deducted at source (TDS) is not applicable for NRE savings and fixed deposit accounts. Funds in this account can be transferred to a Non-Resident Ordinary (NRO) Rupee account as well as to the country of residence. However, TDS will be applicable for interest earned in an NRO account.

Disclaimer: This article has been shared purely from an information perspective and we recommend you conduct extensive research before proceeding.

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NRE Account Interest Rate: Understand Everything about NRE Account Interest Rate | DBS Treasures

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NRIs may open NRE SB Account or NRE FD Account in order to have tax advantage or to earn higher rate of interest. Know about NRE fixed deposit, savings bank account interest rates along with their advantages at DBS Treasures now!

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International Money Transfer Tips for NRIs

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International Money Transfer Tips for NRIs

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Transferring money to your loved ones in India? Read a detailed checklist on online money transfers to find the best ways to send funds home with DBS Treasures.

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Key Takeaways: Transferring money to your loved ones in India? Read on to find a detailed checklist on online money transfers to find the best ways to send funds home.
As an NRI, you may need to send money to India frequently and you would want the process of doing so to be quick, simple, efficient and affordable. The best service is one that lets you send money anytime, anywhere, from your home, through a smartphone and in just a few minutes.
Money transfer checklist for NRIs

Exchange rates: The biggest differentiator between service providers is the exchange rates. Choose a partner that has the most transparent and competitive rates in the industry. You can also look for premium banking services that offer preferential rates.

Taxes and conversion fee: Some financial institutions charge service taxes, conversion fees and receiving charges in India for every transaction. Do check for hidden costs before you send money overseas.

Remittance partners list: Many banks partner with their foreign counterparts to facilitate international money transfers. You should ask the bank's customer support for the list of financial institutions they have partnered with in foreign countries and keep this handy.

Transaction speed and time: To make sure the beneficiary receives the money on time, check for how quickly the transaction will be completed. Ideally, you want a bank that takes the shortest time possible. Depending on your mode of transfer, transactions can take from a few hours to a few days to complete.

Cut-off time: Banks also have a cut-off time for different countries. If you can initiate an international money transfer successfully before the cut-off time, then your transaction will be completed within the same day for most countries. Ask the customer service for the cut-off time for each country.

Currency list: Check if your remittance service provider can cater to the currency you want to transact in.

Past exchange rates: Check the exchange rate for the day before you make a transaction as the slightest fluctuation in the rate can result in significant gains or losses in rupee terms.

Transaction limits: Banks have limits on the money you can send abroad. Also, some banks have limitations on the number of transactions in a year. Know the limit before making international transfers.

Beneficiary details: When you remit money to India, banks will ask you to add the details of the beneficiaries. Transactions can be denied if you provide wrong information about the recipient's bank account number, name, address, bank's branch name and IFSC (Indian Financial System Code) number. Also, the SWIFT code is required in some cases. Verify the details and keep it ready before any transaction.

Holidays and working hours: Banks do not conduct operations on holidays. So keep a calendar handy and make sure you plan accordingly.

Regulations: Above all, understand the rules. The Reserve Bank of India has a set of rules that govern the transfer of money, be it for family, investment or any other purposes.

Final Note: *Disclaimer: This article has been shared purely from an information perspective and we recommend you conduct extensive research before proceeding. Sending money to India is a relatively easy process if you have the right banking partner. Using our checklist can help you zero in on the right one.

We have outlined what you need to consider to ensure that your remittances are shared quickly and seamlessly.

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Top 11 International Money Transfer Tips Every NRI Should Follow | DBS Treasures

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Key Takeaways: Transferring money to your loved ones in India? Read on to find a detailed checklist on online money transfers to find the best ways to send funds home. As an NRI, you may need to send money to India frequently and you would want the process of doing so to be quick, simple, efficient and affordable.

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If you are an NRI who earns income in India, you need to open an NRO account to manage these earnings. Read on to know more about opening an NRI account with DBS Treasures.

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Key Takeaways: If you are an NRI who earns income in India, you will need to open an NRO account to manage these earnings. Read on to know more on how to open an NRI account.
As an NRI, you may have investments in India which now continue to give you returns or you may have properties that bring you rental income or perhaps you are a partner in a business that gives you some earnings.

Regardless of the source, if you are earning income in India, you will need an NRO account to manage it.
Who is eligible to open an NRO account?

NRIs, PIOs and OCIs (except those residing in Nepal or Bhutan)

International students studying in India and foreign tourists on short visits

If you are wondering how to open an NRO account, here is a quick guide.
Open an NRO Savings Account What documents are needed to open an NRO account?
Please note that foreign nationals employed in India are not eligible.
How to open an NRO account online
NRIs and PIOs typically need two types of documentation - identity proof and address proof. Both require a valid passport along with their address proof for their residence abroad. They also need income-proof documents such as form 60, along with their PAN card. A passport-size photograph and proof of NRI or PIO status is also a necessity to ensure that a person is eligible for NRO account opening in India. Some of these documents may need attestations at the nearest Indian embassy, notary or an overseas bank branch of an Indian bank in the country of residence of the individual.

Opening an NRO account online is easy with DBS Treasures.

Step 1: Ensure that all documents needed for the process are in place before you proceed with your NRO account opening.

Step 2: Fill out and submit a simple form and our Relationship Manager will be in touch with you to help you with the process.
How to fund an NRO account

You can remit money from overseas to an NRO account

You can deposit rupee gifts or loans made by resident Indians to you

You can receive money from other NRO accounts

You can deposit income such as rent, dividends, pensions and interest

You can deposit proceeds from the sale of property or investments.

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On a case-by-case basis, additional documents may be necessary. If needed, our Relationship Manager will share that requirement with you as well.

Final Note: An NRO Savings account lets you easily receive income earned in India. You can use this income to manage local expenses or reinvest the same. You can even repatriate it to your country of residence, within certain limits.

Would you like to start funding an NRO Account seamlessly? Begin with an NRO Account from DBS Treasures. Apply Now!

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How to Open an NRO Account Online | DBS Treasures India

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Key Takeaways: If you are an NRI who earns income in India, you will need to open an NRO account to manage these earnings. Read on to know more on how to open an NRI account.

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Inward Remittance basically transfers funds from overseas to an Indian bank account. Know all about inward remittances in detail with DBS Treasures.

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Key Takeaways: If you are planning to send money to your loved ones back in India or to make investments, then you should know all about inward remittances. Here is a look at the RBI rules for inward remittances. What is an inward remittance?
India has a large and successful diaspora and, as a result, receives a significant share of global remittances. You can transfer funds to India from anywhere in the world through a variety of options - through cheques, demand drafts, bank transfers and telegraphic fund transfers.
Two routes for inward remittance ¹
Any transfer of funds from overseas to a bank account in India is an inward remittance. You can transfer funds to fulfil financial obligations such as loan payments or investments or to support family members back home or even to make a donation. NRIs usually remit money into an NRE account that allows them to manage their finances in India conveniently.

RBI has specified two different routes for inward remittances - the Rupee Drawing Arrangement (RDA) and the Money Transfer Service Scheme (MTSS). NRIs may use either to transfer money to India, but it is essential to understand which method to use for your particular transfer.
Open an NRE Savings Account Choosing the right route
Under RDA, you must transfer funds directly into an Indian bank account. You can remit any amount of money under RDA to meet personal obligations - from paying for family expenses to settling utility bills to funding your NRE account. While there is no limit on transferring money to individuals for personal transactions, RDA puts a cap of INR 15 lakh for trade-related transactions.

MTSS remittances are arranged by professional money transfer services abroad, who co-ordinate with authorised agents in India to disburse the remitted funds to beneficiaries. Under MTSS, you can transfer money to pay for family expenses, but you cannot send money for donation, trade, investments, purchase of property, or to credit to an NRE account. You can transfer a total of USD 2500 per calendar year with a limit of 30 transactions.
Final Note: Transferring funds to India is not as complicated as it seems. It is simple, prompt and hassle-free if you know the rules governing the remittances.
MTSS may be an option to pay for family expenses, especially where the beneficiary may not have access to a bank account. For most NRIs, transferring to an NRE account under RDA may be the most convenient choice. You can remit money in a foreign currency into an NRE account which can then be used to pay for all your Indian expenses. What's more, whenever you wish, you could transfer the money back to your country of residence without any hassle.

Open an NRE account today and manage your finances in Inda better.

Open an NRE account with DBS Treasures today and manage your income from abroad better. You can also experience exclusive family privileges and world-class digital banking services. Apply Now!

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Inward Remittance: Read more about how foreign inward remittances work

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Key Takeaways: If you are planning to send money to your loved ones back in India or to make investments, then you should know all about inward remittances. Here is a look at the RBI rules for inward remittances. What is an inward remittance?

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NRI savings accounts are of two types and allow NRIs to deposit income earned abroad & in India while working overseas. Each account has a different objective. Know more in detail about the difference between NRE & NRO with DBS.

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Key Takeaways: We understand that Non-Resident Indians like you have several financial needs. These include managing wealth and saving for the future. If you have the right bank account, you can utilise your savings for investments, sending money to India and repatriation. The best way to carry out these transactions is through NRE and NRO accounts. Let us take a look at the features of both these accounts. Six differences between NRE and NRO accounts

1. Definition: NRE stands for Non-Resident External and you can use it to deposit funds that you earn abroad in a foreign currency. In contrast, you can use a Non-Resident Ordinary (NRO) account to manage income and funds that are generated in India in Indian rupees.

2. Taxability: A significant difference between NRE and NRO accounts is that the interest earned in an NRE account is tax-free in India, while you have to pay income tax on interest earned from an NRO savings account in India.

3. Withdrawals and Deposits[1]: An NRE savings account allows deposits in foreign currencies. An NRO savings account is primarily for deposits in INR; although it enables deposits in other currencies as well. You can make withdrawals only in INR from both accounts.

Open an NRI Savings Account

1. Repatriability: You can repatriate funds (principal and interest) from an NRE account freely and completely. If you want to repatriate funds from an NRO account, the limit is USD 1 million in a financial year.

2. Account opening purpose: You may want an NRE account if you have family back in India and wish to take care of their expenses. It makes the remittance transactions seamless and the account also allows you to get better interest rates than what is currently prevailing in most developed countries. An NRE account will also come handy if you intend to repatriate the funds to your current country of residence.

An NRO account is great if you wish to deposit your income from India. This could be rent from your residential property in India or interest from Indian fixed deposits and other assets. You can also use the account to make investments and pay for bills or other purchases in India.

Get 40+ privileges and more benefits with DBS Treasures NRI Accounts. Apply Now.

3. Holding Structure: You can hold an NRE account jointly with another NRI family member; you can also have a resident joint account holder only in former or survivor mode of operation. You can hold an NRO account jointly with another NRI or resident Indian relative.

NRE and NRO accounts help NRIs like you to keep your money safe and give you seamless access to it, wherever you are. Each account has a different objective.

Final Note: Though there are several differences between an NRE and NRO account, you will need both to manage your funds. An NRE account proves useful for your foreign earnings and you can even send money back to your country of residence freely. An NRO account helps keep your income earned in India safe and within India.

Why miss out on a signature banking experience at DBS Treasures? Open your NRI accounts with us today!

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NRE vs NRO - Key Difference Between NRE and NRO Account | DBS Treasures

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Key Takeaways: We understand that Non-Resident Indians like you have several financial needs. These include managing wealth and saving for the future. If you have the right bank account, you can utilise your savings for investments, sending money to India and repatriation. The best way to carry out these transactions is through NRE and NRO accounts.

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As an NRI, you may be earning a dual income. To manage these transactions, you can choose between an NRE, NRO or FCNR account. Look at each of them in detail and check which account best suits your needs with DBS Treasures.

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Key Takeaways: Have you wondered which NRI account allows you to hold funds tax-free? Which one do you use to collect income earned in India? Liiving life overseas is challenging enough. Worrying about the right kind of NRI account should be the last thing on your mind. Here is a quick look at the differences between different types of NRI accounts. Types of NRI Accounts 1. NRE (Non-Resident External Account)
The Foreign Exchange Management Act (FEMA) mandates that a Non-Resident Indian (NRI) must maintain an NRI account if they wish to carry out financial transactions in India. They can use an NRI account to transfer money earned abroad to India and maintain savings here. They can also use an NRI account to manage income earned in India or repatriate income earned in India. NRIs can choose from three major types of accounts.

NRE is one of the many types of NRI bank accounts. NRIs use it to transfer foreign earnings to India. With this account, you can deposit money in a foreign currency and freely repatriate back to your country of residence. Once the money is deposited in foreign currency, it's converted into INR. You can subsequently maintain and withdraw funds in INR. An NRE account is available in the form of savings or fixed deposits.

Tax Benefits - The amount which is deposited or credited in this account is exempt from tax in India. The interest earned is also not taxable in India.

Repatriation Benefits - You can quickly and easily transfer funds from your NRE savings account back to your country of residence or transfer foreign earnings to the account. There are no restrictions on the repatriation of funds using the NRE account back to your country of residence.

Open an NRI Savings Account 2. NRO (Non-Resident Ordinary Account)
Some of the key benefits of having an NRE account are -

An NRO account is also an Indian rupee-denominated account and is available as a savings account and a fixed deposit. However, while an NRE account is used to keep money earned overseas, an NRO account is for managing the income you earn in India. This income can be through sources like rent (from a property you own in India), dividends, salaries, etc. You can repatriate up to USD 1 million in any financial year through an NRO account. You do need to note that this account's interest is taxable in India according to the Income Tax Act of India.

Easily manage India earnings and expenses: An NRO account is ideal for managing your local earnings and expenses.

Joint Holding: You can open a joint NRO account with an NRI and a resident Indian. However, the NRI can only choose a resident close relative as a joint account holder on a former or survivor basis.

3. FCNR (Foreign Currency Non-Resident Account)
Some of the key benefits of having an NRO account are -

FCNR is a fixed deposit account opened by an NRI to transfer their foreign income in the same currency. Fundamentally, it differs from NRE and NRO in terms of the underlying currency denomination. NRIs can deposit funds in 7 currencies - US Dollars, UK Pound, Singapore Dollar, Hong Kong Dollar, Canadian Dollar, Australian Dollar and Swiss Franc. There are no restrictions on repatriation from an FCNR account. It is an investment option for NRIs looking to retain their income in foreign currency for better returns.

Low risk- NRIs have to maintain an FCNR account in a foreign currency. Through this account, NRIs can reduce the risk of losses due to currency fluctuations.

Tax-Free - Neither the principal amount deposited nor its interest is taxable in India under the Indian Income Tax Act 1961.

Some of the key benefits of having an FCNR account are -

Final Note: Some NRIs often face difficulties with bifurcated earnings across India and abroad. It is challenging to manage finances spread across multiple accounts and keep track. NRI accounts help mitigate such challenges while also complying with the Indian laws. However, NRIs need to understand the various types of NRI accounts and their benefits to choose the best alternative.

Open FCNR deposits with attractive interest rates and tax-free income. Choose DBS Treasures.

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Types of NRI Account - Different Types of NRI Bank Accounts | DBS Treasures

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Key Takeaways: Have you wondered which NRI account allows you to hold funds tax-free? Which one do you use to collect income earned in India? Liiving life overseas is challenging enough. Worrying about the right kind of NRI account should be the last thing on your mind.

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An FCNR account is a type of term deposit that NRIs can hold in India in a foreign currency. Know more about the features and benefits of FCNR account with DBS Treasures.

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Key Takeaways: What is an FCNR (B) Account? As an NRI, you have several investment choices in India. One of them is a Foreign Currency Non-Resident (FCNR) deposit account for you to keep money in your desired currency. If you want to know more about the features and benefits of an FCNR account, please read on. Why invest in an FCNR (B) deposit?
Foreign Currency Non-Resident - FCNR (B) Account is a fixed deposit account that you, as a Non-Resident Indian, can open in the currency of your current residence country. With this account, you can earn a fixed rate of interest until maturity. In case your residency status changes to resident Indian, you can continue to hold an existing FCNR (B) deposit until maturity, but at a contracted interest rate[1].
Open an NRE Fixed Deposit Features and Benefits of an FCNR (B) Account:

Multiple currencies: You can book an FCNR (B) deposit in a freely convertible foreign currency as designated by the Reserve Bank of India (RBI)[2]. As of now, you can book this deposit in 9 currencies like USD, GBP, AUD, SGD, CAD, CHF, HKD, EUR, JPY.

Flexible tenure: You can choose from tenures from 1 year up to 5 years.

No minimum or maximum limits: You can open an FCNR (B) deposit without limitations.

High liquidity: The deposit amount and the interest earned in this account are fully and freely repatriable.

Tax-free: Interest earned on FCNR (B) account is exempted from income tax in India.

Fixed interest rates: The interest rate remains unchanged throughout the tenure of the deposit. It is compounded on a half-yearly basis.[3].

Documents Required to Open an FCNR (B) Account[4]:
Since there is no change in the type of currency, the risks arising out of exchange rate changes are mitigated. This means that if you open an FCNR (B) deposit with USD 35,000, you can withdraw it (and the accumulated interest) in without conversion.

Copy of passport

Proof of residency status (PIO/OCI)

Overseas address proof

Indian address proof (optional)

Copy of PAN card

Here are the documents you will need to open an FCNR (B) account:
Final Note: You can open an FCNR account in India to save money on taxes and get competitive interest rates. The funds are freely repatriable and you need not worry about currency conversion rates. In case of premature withdrawal, the RBI allows it; you will have to check with your bank on the procedure and charges.
The FCNR (B) account replaced FCNR (A) accounts in 1993. To know more about the difference, click here.

Get competitive interest rates on your DBS Treasures FCNR deposits. Apply Now

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6 Features & Benefits of FCNR Account Explained

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Key Takeaways: What is an FCNR (B) Account? As an NRI, you have several investment choices in India. One of them is a Foreign Currency Non-Resident (FCNR) deposit account for you to keep money in your desired currency. If you want to know more about the features and benefits of an FCNR account, please read on.

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Documents required for Home Loan in India for NRIs

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Documents required for Home Loan in India for NRIs

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As an NRI, you can buy residential or commercial property in India. NRIs need to complete a few formalities & require some documents before buying the property. Know the list of documents with DBS Treasures.

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Key Takeaways: Planning to buy property in India? Take a look at the documents you will require at various stages from home loan processing to registration. An important point to remember: As an NRI, you can buy residential or commercial property but you cannot buy agricultural plots, farmhouses or plantations. What are the documents you need before you buy real estate?
Many NRIs buy property in India for various reasons - as a long-term investment; as a place to stay during their visits home; as a way to remain emotionally connected to India or for their families back home. Once you embark on the process, you will realize that buying real estate in India requires you to complete a few formalities and documentation. Here's a quick checklist of what you will need at every stage.

Passport and/or OCI card: NRIs must show their Indian passport. If you hold a foreign passport, you can buy property in India provided you have a PIO (Persons of Indian Origin) card or an OCI (Overseas Citizen of India) card.

PAN Card: This is mandatory for property transactions.
How to execute a Power Of Attorney (POA)?
Power of attorney: NRIs must provide a power of attorney in case they're not in India for executing the purchase transaction. Please note that you will need a special power of attorney which is registered and notarized and not a general power of attorney to execute a property transaction.
How to fund your property purchase?
A power of attorney authorizes another person residing in India to complete the property transaction on your behalf. This POA needs to be signed by you in the presence of a consulate officer or notary in your country of residence. It will also have to be attested by them.
What documents do you need to get a home loan?
NRIs can fund their property purchases through inward remittances or through funds in a non-resident account. They can also take a home loan.

Copy of Indian passport and visa

In case an Indian passport in unavailable

PIO card if you hold a foreign passport

OCI card if your parents are citizens of India

Work permit / employment contract / appointment letter of your country of residence

Latest salary certificate / Payslips for the last six months

Latest income tax returns

Bank statement of NRE and NRO accounts for the last 1 year

Bureau report of country of residence

Power of attorney in the format provided by the bank (in case you are not in India for executing the purchase transaction)

Which property documents should you ask for?
To get a home loan, NRIs must furnish the following documents:

Title deed (in the seller's name). Some states have specific paperwork that you need to be aware of. For example, if you are planning to buy property in Bengaluru, you must check for e-Khata (in the seller's name) for property taxes.

Approved plan

Building permit

Occupation certificate (in case it is a ready building)

Older title deeds, if any

Updated encumbrance certificate

Share certificate (in case it is a cooperative housing society)

NOC from the society

RERA registration (if applicable)

For a smooth transaction and a hassle-free ownership experience, make sure you check and verify all the essential papers.
What are the documents required for registration?
If these documents are in order, then you can proceed to prepare the sale agreement for purchasing the property.
Final Note: *Disclaimer: This article has been shared purely from an information perspective and we recommend you conduct extensive research before proceeding. To ensure that your property transaction is hassle-free, you can consult a real-estate advocate in India. Keeping these documents with you will make the process simpler and faster, making your property buying experience a smooth one.
Besides your identity proof documents (like passport and PAN card), you will need to submit your current address proof documents (like utility bills) and passport size photographs for the sale deed registration.

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Important Documents Required For NRI Home Loan In India | DBS Treasures

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Key Takeaways: Planning to buy property in India? Take a look at the documents you will require at various stages from home loan processing to registration. An important point to remember: As an NRI, you can buy residential or commercial property but you cannot buy agricultural plots, farmhouses or plantations.

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In Outward remittances, funds are sent back to your country of residence from NRI Account. Understand in detail about outward remittance and documents required with DBS Treasures.

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Key Takeaways: What is an outward remittance? There are times that you may want to send funds back to your country of residence from your NRI account. These transactions fall under outward remittances and you can carry them out via an NRE or NRO account. Let us take a look at what is an outward remittance and the different transactions that fall under it. What is repatriation?
From India's perspective, any money which goes out of the country is categorised under an outward remittance. There are primarily two reasons why you would want to send money abroad. One, because you are a resident of India and want to support family or relatives staying abroad, e.g. tuition fees for your child's international studies. Two, you are an NRI looking to repatriate funds from an NRI account into your country of residence. In this article, we will focus on repatriation as a type of outward remittance.

Over years of living abroad, you may have accumulated funds in all your NRI accounts. You would have deposited your foreign earnings in an NRE account and your income in India into an NRO account. Now you want the money available to you abroad. That's when you will need to make an outward remittance from India to your country of residence. However, it is important to understand the documentation and compliance requirements so that you can transfer funds smoothly.
Open an NRE Savings Account Repatriation from an NRE account ¹ Documentation required
All outward remittances from India come under the purview of RBI's Foreign Exchange Management Act (FEMA).

Since an NRE account is exclusively meant for your foreign earnings, you can transfer the money back to your country of residence at any time. According to the RBI, the funds in this account are fully repatriable and without an upper transaction limit.
Repatriation from an NRO account
Get in touch with your bank's representative who will assist you with the documentation. You will have to keep your NRE account information ready to complete the outward remittance form.
Documents required
To know about what more you can do with an NRE account, click here.

Any income you earn in India goes into an NRO account. The sources of income include proceeds from the sale of your house, rental income from your existing home in India, earnings from investments in the form of interest or dividends and cash gifts from resident Indian relatives. According to RBI, you can repatriate up to USD 1 million in any financial year. ²

Application Form for Repatriation

Here are the documents you will need to complete the outward remittance of funds from an NRO account ²:

1. Tax Certificates under Forms 15CA/15 CB

2. Form A2 (Declaration under FEMA)

3. Copy of PAN Card (Indian)

From your bank in the current country of residence:
Final Note: Outward remittances are the best way for you as an NRI to route your earnings back to your country of residence when you need them. Though you can initiate these remittances from both NRE and NRO accounts, the process is more seamless with the former. With benefits like full repatriation and unlimited transaction amounts, it is worth considering having an NRE account if you haven't got one already.
From India:

You can contact any reputed Chartered Account in India to help with the certificates mentioned above.

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Outward Remittance | NRI Repatriation: process and workflow

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Key Takeaways: What is an outward remittance? There are times that you may want to send funds back to your country of residence from your NRI account. These transactions fall under outward remittances and you can carry them out via an NRE or NRO account.

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KYC: Definition, Types and Documents Required

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KYC: Definition, Types and Documents Required

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If you are an NRI looking to invest in India, you should be KYC compliant. Learn more about KYC guidelines, types, and objectives for NRIs with DBS Treasures.

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Key Takeaways: Meaning of KYC If you are an NRI looking to diversify your investments by investing in India, you should be KYC compliant. The KYC procedure is relatively simple and, once completed, lets you take advantage of a range of investment opportunities. Why is KYC Required?
KYC stands for Know Your Customer. It is a mandatory procedure in India that helps banks, insurance companies and other financial institutions verify prospective customers' addresses and identities before conducting transactions. It includes verifying the customer's identity, address, occupation, residential status, financial status and other personal details.
Types of KYC
The KYC process helps financial entities verify that investments/ transactions are being made in a real person's name. This helps cut down unlawful practices like money laundering, fraud or financing illegal activities. KYC compliance is required to open bank accounts, Demat and trading accounts, start fixed deposits or invest in mutual funds. It is even needed if you want to apply for a home or a personal loan.

Aadhaar based KYC (eKYC)

Offline KYC or In-Person-Verification (IPV) KYC

Centralised KYC (CKYC)

There are different types of KYC in India based on the verification process. These are

The eKYC process involves downloading the KYC application form from the KYC registration agency's official website and filling in necessary details, entering and verifying Aadhaar and mobile number using an OTP. While accepting consent declaration terms on the KYC form, you will need to upload an attested copy of your Aadhaar card.

You can complete your IPV in India through a NISM/AMFI-certified distributor who fulfils the Know Your Distributor criteria. Any bank can also do it for you. IPV involves physically meeting the certified distributor with your original documents.
Open an NRI Savings Account KYC Documents Required
In the Centralised KYC (CKYC) process, you will have to fill out an online CKYC form only once, upload scanned copies of your documents and submit them along with the completed digital form. You receive a 14-digit unique account number. The Central Registry of Securitisation Asset Reconstruction and Security Interest of India (CERSAI) stores your data in their online repository. The most significant benefit of CKYC is that you need not submit KYC forms each time you want to open a bank account or invest in mutual funds. Banks and Asset Management Companies will source your documents through your 14-digit CKYC account number.

Documents needed to complete a KYC procedure include a recent photograph, documents to prove NRI/PIO status, PAN card copy, Aadhaar card copy, Indian and overseas address proof.

Copy of passport

Copy of visa or work/residence permit

PIO or OCI card (for Foreign passport holders)

For proof of NRI/PIO status, you can submit:

Proof of Indian address can be established via

Passport

Bank statement of India or overseas bank (not more than three months old from the date of application)

Permanent overseas driving license

Utility bills like electricity, gas, water (not more than three months old)

Proof of overseas address can be established via
KYC Procedure
You can attest these documents by authorised officials of overseas branches of registered commercial banks, public notaries, magistrate or judge, or the Indian embassy/consulate general in your country of residence.

The KYC procedure involves in-person verification to verify an individual's identity, address, financial status and other personal details. You can begin by downloading the KYC form available on bank or mutual fund websites, AMFI and KYC Registration agencies.

Once you fill out the necessary information, you can submit it to your bank, where you hold your NRI account. You can either courier physical documents to your Relationship Manager or check with your bank if there is a convenient option to submit these documents online.

If any of the documents are in a foreign language, you may have to translate them into English before submitting them. If you have appointed a Power of Attorney (POA) (in India) to make investments on your behalf, then the POA holder should also be KYC compliant.

Final Note: Getting your KYC done is an essential step in your investment journey. The sooner it is done, the earlier you can begin making investments.

To begin investing in India, you will need an NRI account. At DBS Treasures, you can choose between NRE, NRO or FCNR accounts depending on your financial needs and get started remotely. Apply Now !

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What is KYC (Know you Customer) in Banking and How it Works | DBS Treasures

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Key Takeaways: Meaning of KYC If you are an NRI looking to diversify your investments by investing in India, you should be KYC compliant. The KYC procedure is relatively simple and, once completed, lets you take advantage of a range of investment opportunities. Why is KYC Required? KYC stands for Know Your Customer.

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PPF combines fixed & safe returns with good tax efficiency. As an NRI, there are queries like whether you can open a new account or retain your existing account. Get to know about the importance & latest rules of PPF with DBS Treasures.

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Key Takeaways: Public Provident Fund (PPF) schemes are popular investments in India. As an NRI, you might want to know if you can open a new PPF account or if you can retain your existing PPF account. Here's all you need to know about PPF for NRIs. The 2017 PPF - NRI notification
The Public Provident Fund is a popular long-term saving scheme from the Government of India. It provides safe and guaranteed returns and is one of the most tax-friendly investments. As an NRI, however, you cannot open a new PPF account and invest in it. But in case you already had a PPF account before you became an NRI, then you can continue to hold it till the scheme's maturity.

A government notification released on 3 rd October 2017 amended the Public Provident Fund rules and stated that you will need to close the PPF account the day you become an NRI. It also said that if you choose to continue the account, the rate of interest accrued will be reduced to the rate applicable to the Post Office Saving Account (currently 4% per annum*).

Prior to this rule, NRIs (who had a PPF account as a resident Indian) could invest in the fund through an NRO account. They also enjoyed the same rate of interest given to a resident Indian, which was about 7.8% per annum in 2017.
Present PPF rules for NRIs
The government made amendments to this rule in 2018 and set out revised guidelines.

You cannot extend the account beyond maturity which is 15 years

Interest rates will be reviewed by the Government of India every quarter and can be changed

Interest earned is exempt from taxes

Procedure for withdrawal
As per the new rules set in 2018, as an NRI, you can continue your PPF account that you had opened while in India, but you cannot open a new account. Some of the other rules are as follow:

You can close the PPF account prematurely after five years to pay for your higher education or your child's higher education if your child is the primary account holder. Another instance where premature withdrawal is allowed is to pay for a medical contingency where you or your loved one is diagnosed with a life-threatening illness. Else, you can close your account after maturity and withdraw the funds. However, these funds are non-repatriable which means that you cannot transfer the money abroad.

To close the account, you need to submit the PPF withdrawal form, PPF passbook from your bank, photo identity card and a cancelled cheque from your NRO account to which you want the PPF balance credited. If you are not available to complete all formalities, then you can send a representative with an authorization letter. The documents need to be attested by your bank's branch manager before they are submitted.
Final Note: *Please note that the interest rates are applicable as on April 2020 and are subject to change. Disclaimer: This article has been shared purely from an information perspective and we recommend you conduct extensive research before proceeding. PPF combines fixed and safe returns with good tax efficiency. It's one of the few investments that is classified as Exempt, Exempt, Exempt (EEE) - your investments are tax-deductible; the returns are tax-exempt and so are the maturity proceeds. So, if you are an NRI with an existing PPF account, continue holding it by all means.
Once the process is completed, the funds will be transferred to your NRO account.

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New Public Prodvident Fund (PPF) rules for NRI in 2020 | DBS Treasures

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New PPF NRI Rules: Post changes in the PPF rules for NRI's in 2018, there are a lot of queries for NRI's who want to open a new account or check the status of their existing account. Here are the latest PPF rules NRI's need to follow in 2020

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NRI accounts allow NRIs to deposit income earned abroad and in India while working overseas. Know the difference between NRE, NRO and FCNR accounts, and check which account best suits your needs with DBS Treasures.

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Key Takeaways: NRIs have many bank account options to choose from depending on their financial objectives. Read on to know more about the different types of accounts available, their features and benefits so that you can make the right choice.

As an NRI, you may be earning a dual income - one in your country of residence in foreign currency and the other from your Indian investments in INR. You may frequently want to transfer the money you have earned abroad back to India and vice versa or you may need access to money in a bank during your travels to India.

To manage these transactions, you can choose between an NRE, NRO or FCNR account. Let's look at each of them in detail.
Non-Resident External (NRE) account
A Non-Resident External (NRE) account is a savings account in which you can deposit foreign currency earnings and freely repatriate monies held in the account back to your country of residence.

NRE accounts are INR denominated accounts which means all the funds you deposit are maintained in Indian rupee. When you deposit foreign currency into this account, the current exchange rate is applied by the receiving bank and Indian rupees matching the exchange rate are deposited in your account.
Key features of the NRE account

The money you deposit in this account is completely repatriable and tax-free

The account facilitates the transfer of foreign currency to India allowing you to maintain an INR balance in your Indian bank account

You can earn up to 5% p.a. interest rate on your savings account and up to 5.2% p.a. interest rate on your NRE deposits*

Non-Resident Ordinary (NRO) account
A Non-Resident Ordinary (NRO) account is a savings account that is useful if you have earnings in India. You can deposit Indian earnings - from dividends, equity returns, pension, rentals, or any other income - into an NRO account.

Similar to an NRE account, NRO Account is maintained in INR too.
Key features of the NRO account

The NRO account enables you to manage your income earned in India from various sources

When you deposit foreign currency in the NRO account, it gets converted to INR as per the exchange rate applicable

Withdrawals can only be made in INR

You can earn up to 5% p.a. interest rate on your savings account and up to 5.2% p.a. interest rate on your NRO deposits*

You can repatriate up to USD 1 million every financial year from this account.

Foreign Currency Non-Resident (FCNR) accounts
FCNR is an account that allows you to save money earned overseas in a foreign currency in a term deposit.
Key features of the FCNR account

As an FCNR account holder, you can maintain your deposit in various currencies including USD, GBP, EUR, JPY, AUD, CAD, SGD, CHF & HKD

The tenure of these deposits can range between 1 year and 5 years

The amount you deposit and the interest earned are fully repatriable

FCNR account allows automatic renewal of deposit on maturity

FCNR deposits are not taxable in India

Opening NRE, NRO and FCNR accounts online
As an NRI, you can open your NRE, NRO and FCNR account online. You can fill the account opening form available on the bank's website and submit scanned copies of the necessary documents as mentioned on the form. In case of online account opening, the documents should be duly attested by the embassy of the country you are residing in. You will also be required to complete an in-person verification (IPV) with your bank.

Final Note: All three accounts offer easy and efficient ways of managing your income from diverse sources and allow you to transfer funds between India and your country of residence so go ahead and choose an account that suits you best.
*Please note that the interest rates are applicable as on April 2020 and are subject to change Disclaimer: This article has been shared purely from an information perspective and we recommend you conduct extensive research before proceeding.

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difference between nre nro and fcnr account

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Difference Between NRE, NRO & FCNR Accounts Explained | DBS Treasures

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Key Takeaways: NRIs have many bank account options to choose from depending on their financial objectives. Read on to know more about the different types of accounts available, their features and benefits so that you can make the right choice.

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DBS Treasures NRE Account offers several benefits, from competitive interest rates to easily and quickly remitting foreign earnings to India. Read on to know more about NRE Account benefits.

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Key Takeaways: An NRE account offers several benefits including the facility to easily and quickly remit foreign earnings to India. Read on to know more about an NRE account benefits. Benefits of NRE account
Even though NRIs live abroad, they have strong family and financial ties back in India. An NRE account helps NRIs easily manage their financial commitments in India, be it family expenses, investments or utility bills. You can deposit foreign currency earnings in your NRE account and withdraw in rupees to manage Indian expenses. The good thing is you can fully repatriate the amount you hold in an NRE account. Let us look at more NRE account benefits in this article.

Exempt from Taxes: The interest earned on the principal amount in an NRE savings account is tax free.

Free and easy transferability: If you wish, you can transfer both the principal amount and the interest from an NRE account to an account in a foreign bank without any restrictions. You can also transfer funds quickly from an NRE account to another NRE account or an NRO account.

Useful for Investments: You can use funds in this account to make investments in India. Whether it is equity or debt mutual funds, you can get started seamlessly.

Open an NRE Savings Account
What happens to your NRE account if you become a resident Indian again?

Joint Account Holding[1]: If both the account holders are NRIs, you can opt for joint account holding. You can also mandate a resident family member to operate the account on your behalf. However, please note that you can have a joint resident Indian account holder only on a 'former' or 'survivor' basis. This joint holder resident must be related, e.g., a parent.

Easy Withdrawal: With the help of an international debit card, you can withdraw money 24*7 from these accounts. You can also avail internet and mobile banking services that allow you to manage your money online.

Competitive Interest Rates: NRE accounts offer attractive interest rates. A DBS Treasures NRE account offers higher interest rates on NRE savings accounts.

Final Note: NRE accounts bring a lot of benefits to NRIs, helping them manage their India financial affairs more efficiently and seamlessly. *This article is for information purpose only and is not a tax advice by DBS Bank. Sound professional advice should be taken before making any investment decisions. Bank will not be responsible for any tax loss/other loss suffered by a person actng on the above.
Here are six benefits of an NRE account:

In case of a short visit, the NRE account can continue as it is. However, if you plan to become a resident Indian again, you would need to re-designate the NRE account to a resident account or a Resident Foreign Currency (RFC) account.

Would you like to avail preferential rates on remittances to India? With DBS Treasures, you can have access to better rates and faster international money transfers. Know more!

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NRE Account Benefits: 6 Advantages of NRE Accounts Explained

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Key Takeaways: An NRE account offers several benefits including the facility to easily and quickly remit foreign earnings to India. Read on to know more about an NRE account benefits. Benefits of NRE account Even though NRIs live abroad, they have strong family and financial ties back in India.

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FATCA aims to bring transparency and curb tax evasion by monitoring the income earned by NRIs living in the USA from their non-US investments and assets. Know more about FATCA with DBS Treasures.

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Key Takeaways: Any NRI living in USA and investing in Indian assets will have to adhere to the Foreign Account Tax Compliance Act (FATCA) laws. These legislations require financial institutions to declare details of accounts held by US taxpayers. FATCA also requires a self-declaration from NRIs living in the USA while making investments in India. If you are an NRI who lives in USA, find out which investments need FATCA compliance in India. What is FATCA?
All NRIs must adhere to global tax compliance systems for their offshore accounts. One of the most important set of rules is outlined within the Foreign Account Tax Compliance Act or FATCA for NRIs living in USA.

FATCA or Foreign Account Tax Compliance Act is a tax law endorsed by the US government in 2010 as part of the Hiring Incentive to Restore Employment (HIRE) Act ¹. The Act requires certain international financial institutions ² to report details of financial accounts held by US taxpayers to the Internal Revenue Service (IRS). These institutions are also required to report instances of tax evasion. A financial institution is empowered to withhold tax if an individual does not comply with any document requirements.
India and FATCA
In short, FATCA aims to bring in transparency and curb tax evasion by monitoring the income earned by NRIs living in USA from their non-US investments and assets.

The Indian government agreed to implement the FATCA in 2015 by way of inter-government agreement between India and USA. As per the inter-government agreement, Indian tax officials need to obtain specific information from US investors. To achieve this, the Indian government made it mandatory for all NRI investors from the US to self-declare FATCA compliance through Form 61B, as per Rules 114F and 114H of the Income Tax Rules, 1962. In addition, the government of India also asks for tax residency numbers and Indian passports.
To whom does FATCA apply?
The Inter-Governmental Agreement (IGA) with USA for implementation of FATCA entered into force on 31st August 2015. Under the alternative procedure provided in Rule 114H(8) of the Income Tax Rules, 1962, the financial institutions need to obtain the self-certification and carry out due diligence procedure to determine the reasonableness of the self-certification in respect of all individual and entity accounts opened from 1st July 2014 to 31st August 2015. Such self-certification and documentation is required to be obtained by the financial institutions by 31st August 2016, otherwise they are required to close the account and report the same if found to be a "reportable account" as per the prescribed due diligence procedure for pre-existing account.

US permanent residents or green cardholders

US citizens or NRIs who have migrated to the US and are now its naturalized citizens

NRIs and Persons of Indian Origin (PIO) working in the US via B1/B2, H1-B, E-2, or L1/L2 visa

According to FATCA, everyone living in the USA is subject to this tax law. These include:
Investments and FATCA application
Let's look at a detailed list of investments and assets to see if they fall under FATCA's purview: ³
House property owned by NRIs
Indian investments that are subject to reporting and taxation in the US include fixed deposits, public provident fund, stocks, mutual funds, bank interest, other capital gains and retirement contributions.
Bank accounts
House properties owned by NRIs in India do not fall under specified assets of FATCA. This means income earned from them is not subject to FATCA. However, this income is subject to taxation in India.
Not covered by FATCA
NRE, NRO and FCNR accounts held by NRIs come under the purview of FATCA.
Difference between FATCA and CRS ⁴ Non-compliance repercussions
Assets that do not come under the FATCA lens include antiques, jewellery, cars, art pieces and other collectables. Safety deposit boxes do not require to be reported. Foreign currency held by you but not in any financial institution also does not need to be reported under FATCA.
Final Note: Requirements as per RBI: "FATCA" means Foreign Account Tax Compliance Act of the United States of America (USA) which, inter alia, requires foreign financial institutions to report about financial accounts held by U.S. taxpayers or foreign entities in which U.S. taxpayers hold a substantial ownership interest. "IGA" means Inter Governmental Agreement between the Governments of India and the USA to improve international tax compliance and to implement FATCA of the USA. Reporting requirement under Foreign Account Tax Compliance Act (FATCA) and Common Reporting Standards (CRS): Under FATCA and CRS, REs shall adhere to the provisions of Income Tax Rules 114F, 114G and 114H and determine whether they are a Reporting Financial Institution as defined in Income Tax Rule 114F. Disclaimer: The information provided on this site is for general information only. The information herein is not and does not constitute or form part of any offer, recommendation, invitation or solicitation to subscribe to or to enter into any transaction. The information provided on this site is subject to change without notice, its accuracy is not guaranteed and it may be incomplete or condensed. DBS is not acting as your advisor or agent when providing the information on this site. The information herein is not intended to provide, and should not be relied upon for accounting, legal or tax advice or investment recommendations and is not to be taken in substitution for the exercise of judgment by the reader who should obtain separate professional legal, tax or financial advice. FATCA is a concentrated effort to fight tax evasion in the US. NRIs may earn income from foreign assets but they should definitely declare them. So if you are an NRI in the USA, please remember to comply with FATCA rules before investing in assets in India.
Buoyed by the success of FATCA, the Organisation of Economic Cooperation and Development (OECD) introduced the CRS or Common Standard on Reporting and Due Diligence for Financial Account Information. The CRS was based on similar regulations as the FATCA, but there are notable differences between the two. While both legislations were introduced to combat tax evasion, CRS has a more considerable breadth of design. It covers 90 countries except the US. Reporting of all financial accounts is mandatory under the CRS, while it is not compulsory for FATCA. FATCA concerns only people living in the USA and has a limit that exempts US taxpayers with an aggregate value of foreign financial assets less than $50,000. CRS does not have any such exemptions.

Non-compliance with FATCA norms in India can lead to freezing of bank accounts, suspension of mutual fund investments and blocking of PPF or NPS accounts.

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what is foreign account tax compliance act

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What is FATCA? Know the Importance of FATCA for NRIs | DBS Treasures

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Key Takeaways: Any NRI living in USA and investing in Indian assets will have to adhere to the Foreign Account Tax Compliance Act (FATCA) laws. These legislations require financial institutions to declare details of accounts held by US taxpayers. FATCA also requires a self-declaration from NRIs living in the USA while making investments in India.

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If you are looking to remit money without any limitation, opening an NRE account is the best option. Know more in detail about NRE accounts & open an NRE Account with DBS Treasures.

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Key Takeaways: Most NRIs set up an NRE account to enjoy repatriation of funds without limits and take advantage of its liquidity. If you are looking to remit money without any limitation, then opening an NRE account is the best option for you.
You live and work abroad, but your retired parents choose to stay in India. You want to remit money to them regularly to ensure they are as comfortable as possible. What's the best way to do it, you ask? Just set up an NRE account and enjoy the smooth remittance of funds from your country of residence to your loved ones in India.
Why do you need a separate account?
A Non-Resident External (NRE) account is a rupee dominated account opened by an NRI to facilitate deposit of foreign currency earnings. The advantage of an NRE account is that it has high liquidity and allows for full repatriation of funds from the account to the NRI's country of residence when required.

Following the Foreign Exchange Management Act (FEMA) guidelines, the Reserve Bank of India allows an NRI to open two types of savings bank accounts with authorised dealers and banks: A Non-Resident External (NRE) Rupee account and a Non-Resident Ordinary Rupee (NRO) Account.
Depositing and withdrawing money²
The RBI states that an NRE account should be opened by NRIs themselves ¹. It does not permit the holder of a power of attorney to open these accounts. So, if you don't already have one, make sure you open one on your next visit.

Apart from remittances to India, the account allows you to make foreign currency deposits during your visit to India. It permits you to transfer from another NRE or Foreign Currency Non-Resident (FCNR) bank account. Personal cheques, travellers' cheques and bank drafts drawn in any foreign currency can be deposited by you in person. However, banks have to be provided with proper documentation to prove that you are an NRI.

Interest earned on the funds in your account, proceeds from the sale of FDI investments, interest and dividends from other assets can be seamlessly credited to an NRE account.
Joint accounts
You can also withdraw money from this account for local disbursements, remittances outside India, investment in shares, purchase of immovable properties or transfer to other NRE/ FCNR accounts.

Two or more Non-Resident Indians can open a joint NRE account as long as all account holders are persons of Indian origin or nationality. If one of the joint account holders becomes a resident Indian, then the banks have the option to delete his/her name and allow the account to continue as an NRE account. Another option is to convert the account into a resident Indian account by removing the NRI holder's name.
Becoming a resident Indian again
Please note that an NRI has an option to open an NRE account jointly with a resident Indian only in former or survivor mode of operation ³.
Final Note: *Disclaimer: This article has been shared purely from an information perspective and we recommend you conduct extensive research before proceeding. The primary difference between an NRE and an NRO account is that the former is used for parking foreign income earned outside India and the latter is used to maintain and manage income earned in India. NRE accounts do not have a limit on repatriation and the interest earned is tax-free in India. An NRO account, in contrast, has a limit of $1 million on remittances outside India in a financial year.
What happens to an NRE account when you return to India? The NRE account has to be redesignated to a resident account or a Resident Foreign Currency (RFC) account. If the account holder is in India for a short visit, the account may continue as an NRE account during his stay in the county.

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What is NRE Account? Meaning, Benefits and Everything about NRE Account | DBS Treasures

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NRE account stands for Non-Resident External account and it's a Rupee dominated account. NRE account is used by the NRIs who regularly wants to send money to their near and dear ones in India due to it's no limit feature. Know more about NRE Account at DBS Treasures now!

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Aadhaar is a centralised system of identification. As an NRI, you will need an aadhar card to make any financial transactions in India. Know more about the procedure to get Aadhaar Card for an NRI.

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If you live abroad and have roots in India, your residency status is either a PIO or OCI. Are you still confused between PIO and OCI Cards? Read the difference between PIO and OCI in detail with DBS Treasures.

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Key Takeaways: If you are living abroad and have roots in India, your residency status is either as a Non-Resident Indian (NRI), Person of Indian Origin (PIO) or that of an Overseas Citizen of India (OCI). Here we will take a look at the differences between PIO and OCI. What does a Person of Indian Origin (PIO) mean?
As an individual of Indian origin staying in another country, you could either apply for a PIO Card or an OCI Card.

Person of Indian Origin (PIO) refers to a foreign citizen who held an Indian Passport at any point in time or whose parents/grandparents/great grandparents were citizens of India. Here is the Reserve Bank of India's definition of a PIO:
Benefits of PIO Card[2]:

1. PIO cardholders do not need a visa if they wish to visit India for up to 15 years from the issuance of a PIO Card.

2. They can stay for up to 180 days In India without registration to FRRO (Foreigner Regional Registration Office).

3. They can study or work for private institutions in India without a special visa

4. They have the same financial and economic benefits as NRIs.

Person of Indian Origin (PIO) means a citizen of any country other than Bangladesh or Pakistan who had (a) at any time held Indian passport or (b) he or either of his parents or any of his grandparents were a citizen of India by virtue of the Constitution of India or the Citizenship Act, 1955 or (c) the person is a spouse of an Indian citizen or a person referred to in (a) or (b). [1]
What Does OCI Mean?
If you are planning to come to India soon, you need to be aware of FEMA guidelines for NRIs.
Eligibility for OCI:
OCI is an immigration status that allows foreign citizens of Indian origin to live, study or work in India. OCI cardholders can visit India at any time and stay for any time.
Benefits of OCI:

1. An OCI Card Holder can visit India anytime during their lifetime.

2. They can stay in India for any duration without registration to FRRO (Foreigner Regional Registration Office) or local authorities.

3. They can study or work for private institutions in India without special permissions

4. They have the same financial and economic benefits as NRIs.

An OCI Card is issued to foreign citizens who hold a passport of another country except for Pakistan and Bangladesh. A citizen whose parents were born or were citizens of Pakistan and Bangladesh are not eligible for OCI.
Open an NRI Savings Account
PIO or OCI Cardholders cannot purchase agricultural land, work for Indian government offices and have no voting rights. PIO and OCI may sound synonymous but have a few substantial differences.

Let us have a look at the differences between PIO Cards and OCI Cards [3].

Visa Validity

15 years from the date of PIO Card issuance

Lifelong from the date of OCI Card issuance

FRRO Registration

If your stay in India exceeds 180 days

Not required

Reissuance

Reissued after 15 years

Each time a new passport is issued till 20 years of age and once after 50 years of age. You can get a new OCI Card when renewing your passport

Application for Indian citizenship

Must surrender the current citizenship and must reside in India for a minimum of 7 years

Must surrender current citizenship. OCI Card Holders can apply for Indian citizenship after 5 years of holding an OCI Card and they must reside in India for a year

According to the Citizenship Amendment Bill 2015, all PIO card holders are 'deemed to be' OCI card holders with effect from January 9, 2016. The income earned in India by the cardholders is taxable under the Indian Tax system.

Final Note: The distinction between PIO and OCI was diminished by the Government of India to streamline residency norms. All the benefits of OCI cardholders are also extended to PIO cardholders after conversion.

After your residency status changes, you will need an NRI account to bank in India. With DBS Treasures, you can open NRE, NRO or FCNR accounts remotely from the comfort of your home. Apply Now!

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OCI vs PIO - Difference Between PIO and OCI | Live eNRIChed

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Key Takeaways: If you are living abroad and have roots in India, your residency status is either as a Non-Resident Indian (NRI), Person of Indian Origin (PIO) or that of an Overseas Citizen of India (OCI). Here we will take a look at the differences between PIO and OCI.

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A PAN card is an alphanumeric identifier with ten characters. If you have a source of income in India, you will need a PAN to file your taxes. Know about the steps required to get PAN Card for an NRI with DBS Treasures.

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Key Takeaways: Introduction While you live outside India, you may still want to buy a property or invest in mutual funds in India. To be able to do either of these, you will need a PAN card. Let us look at why you need to have a PAN card in India and the documents you will require to apply for a PAN card. PAN Card Application for an NRI
A PAN (Permanent Account Number) card is an alphanumeric identifier with ten characters. The Indian Income Tax Department issues this card. If you are an existing taxpayer and want to file a return of income in India or buy a house or even invest in India, a PAN card is mandatory. Another point to note, you cannot hold more than one PAN card in India.[1]

If you have a source of income in India, you will need a PAN to file your taxes, even if you live abroad. This income could be generated by renting out real estate, receiving dividends from shares, getting returns from mutual funds, or a business in India. Even if you do not have an income source in India right now, it still helps to have a PAN card if you decide to perhaps invest in India in any way.

Documents Required for Applying for a PAN Card[2]

1. Two recent passport-sized photographs

2. A copy of your passport

3. A copy of your PIO or OCI card

4. An overseas address proof

5. A copy of your overseas bank statement

Steps to Apply for a PAN Card for NRIs
Completing a PAN application for an NRI is a relatively simple and straightforward process. To get started, here is a list of the necessary documents required for an NRI PAN card:

1. Log on to the official website of TIN-NSDL to start the application process.

2. Fill out Form 49A, furnishing the required information in the form.

3. Upload your photograph, address, ID and age proofs.

4. Pay the fees.

5. Use the acknowledgement to track your application's status.

Foreign Citizens Applying for PAN
The entire PAN application process is simple, convenient and seamless. Any eligible NRI can apply at the click of a button. Here are the steps to apply for a PAN online:

Even if you are a foreign citizen who wants to apply for a PAN card in India, you will have to start by filling out the form. You can visit the TIN-NSDL website and fill out form 49AA. Individuals who have foreign nationalities, OCI holders and PIOs need to use this form to get a PAN Card.

In both instances, you will have to mention your residential address if they do not have one in India, you can provide the address where you are staying currently. You will also have to indicate your communication address on the form.

1. Copy of appointment letter/contract from the Indian company

2. Applicant's certificate of address in India in original issued by an authorised signatory of the applicant's employer. This certificate should be on the employer's letterhead, and it should contain the PAN of the employer.

3. A copy of the PAN card, which is detailed in the employer's certificate. It may be noted that the PAN of the employer, as mentioned in the employer's certificate, will be verified online before processing the application.

Holding More than One PAN Card[2]
If you're a foreign citizen applying for a PAN card with an Indian office address, you need to provide the following documents as proof for the office address.
Final Note: A PAN card is a mandatory document for income tax filing and investments in India. It is even necessary if you want to open an NRO or NRE account. Applying for a PAN card is easy; however, it helps to keep your documents ready to upload. *This article is for information only. We recommend you get in touch with your income tax advisor or CA for expert advice.
As per the income tax laws, you can have only one PAN card per person. You can surrender a duplicate PAN allotment by filling out and submitting a PAN Change/Correction Request form.

Start investing in India even if you are miles away from home. Join DBS Treasures

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What Documents are Required to Apply for NRI PAN Card?

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Key Takeaways: Introduction While you live outside India, you may still want to buy a property or invest in mutual funds in India. To be able to do either of these, you will need a PAN card. Let us look at why you need to have a PAN card in India and the documents you will require to apply for a PAN card.

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Can NRIs transfer funds from an NRO account to an NRE account? Check out the detailed guide on how to transfer money from the NRO account to the NRE account and what are possible documents required.

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Reading Time: 2 Minutes

Key Takeaways: The complexities involved in transferring money between an NRO and NRE account can seem baffling. Is the transfer tax-compliant? Are any laws being broken? Can funds be freely transferred from an NRO account to an NRE account? Here are the answers you seek.

What is an NRO account?

Non-Resident Ordinary (NRO) accounts help you manage Indian rupee income sources like rent, dividend, or other income such as profit accrued through an investment or property sale in India. Here, both the non-resident and resident Indians can be joint account holders. The account also allows you to receive income in any currency, Indian or foreign.

However, you can only withdraw funds in Indian rupees from an NRO account. The funds available in an NRO account are not freely repatriable to any other currency or country either as these are used typically for income/profit that is accrued in India. The interest earned in this account is also taxable.

Can NRIs transfer funds from an NRO account to an NRE account?

Yes, you can transfer funds from an NRO account to an NRE or Non-Resident External account. The Reserve Bank of India allows the transfer of funds up to USD 1 million a year from an NRO to an NRE account.

Here is a list of documents you will require if you are planning NRO to NRE transfer of funds:

A signed cheque for the transfer of funds from NRO to NRE account

FEMA declaration

Documentary evidence of source of funds

Form 15CA (get it from here)

Form 15CB - It is a form certified by the CA. It contains details regarding the payment like the TDS rate, deductions and the applicability of DTAA.

Open an NRI Savings Account

Reasons for transferring funds from an NRO account to an NRE account

There are several reasons why you may need to transfer money to an NRE account. You might need to transfer your income in Indian currency and withdraw to meet investments and expenses in your preferred currency abroad. You might want to keep an NRO account only for collecting the Indian income and manage all investments in an NRE account that allows you the flexibility of full repatriation when you need the funds. If you need to access the funds in your NRO account in any other currency, then transferring it to your NRE account might be the best bet.

An NRE account offers other benefits too:

1. No limitations: FEMA does not impose any maximum ceiling on the amount that you can transfer from an NRE account. As the money deposited in an NRE account is earned outside India, it is freely repatriable.

2. Preferential rates on remittance: Better currency conversion rates are applicable whether you choose to send money to India or repatriate funds abroad from your DBS Treasures NRE account.

3. Tax benefits: The principal amount in NRE accounts is exempt from taxes. Moreover, there is no gift tax, wealth tax or taxes on interest earned in India.

Final Note: If you want access to your Indian funds at any time in any currency, then transferring funds from an NRO to NRE account makes sense. However, to manage your India expenses, you may want to keep funds in an NRO account itself.

Whether you are looking to open an NRO or NRE savings account or seamlessly transfer funds, DBS Treasures can help you. If you need assistance, feel free to reach out to us here.

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NRO to NRE Transfer - Money Transfer from NRO to NRE Account

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Can NRI transfer money freely from nro to nre account. Check out the detailed answer on transferring funds from nro to nre account.

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Every bank in India uses UTR numbers for all local modes of money transfer. It is basically for identifying an NEFT, IMPS or RTGS transaction. Read more about the UTR number with DBS!

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Key Takeaways: Every fund transfer transaction in India has a UTR number. Let us read more about the importance of a UTR Number, what it entails and its usefulness.

When you send money to India for supporting your parents or your other family members, they need to have easy access to it. You can use local funds transfer options in India like NEFT, IMPS or RTGS to transfer funds from your NRE or NRO account to resident Indian savings accounts in India.[1] However, you have to keep in mind FEMA guidelines for these transactions. You can read more about the differences between RTGS and NEFT in another article.

If an NEFT transfer is taking a little longer than expected, you might need to check the UTR number to get the status of the transaction. So, what does a UTR number mean in banking?
What is a UTR number?
A UTR or Unique Transaction Reference number is a reference number for identifying an NEFT, IMPS or RTGS transaction. Every bank in India uses UTR numbers for all local modes of money transfer and they are beneficial for recipients in case there has been no recent update or credit corresponding to your transaction.
Open an NRI Savings Account How to find a UTR number?
The quickest way to get a transaction's UTR number is from your NRI savings account statement. You can view or download this statement from your bank's mobile app or through internet banking. It is the 16 or 22 character number next to the transaction date.
Uses and importance of a UTR number
In case your NRI account is debited, but the beneficiary hasn't received the funds, you can use the UTR and reach out to the bank customer support team for them to trace the transaction. All banks in India have the customer service information updated on their websites. In the case of premium banking propositions, you can reach out to your dedicated Relationship Manager to enquire about the transaction. You will have to keep the UTR number handy to communicate it to your bank representative.

Final Note: You need not memorise the UTR number for your transactions because banks rarely delay funds transfers. In case your payment does not reach your loved ones, most banks automatically refund the amount in case the same was debited. You then have the flexibility to re-initiate the transfer.

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What is a UTR Number? Uses & Importance of UTR Explained

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Key Takeaways: Every fund transfer transaction in India has a UTR number. Let us read more about the importance of a UTR Number, what it entails and its usefulness. When you send money to India for supporting your parents or your other family members, they need to have easy access to it.

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Open FCNR Fixed Deposit Account Online in USA with DBS Treasures

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Open FCNR Fixed Deposit Account Online in USA with DBS Treasures

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Open FCNR Fixed Deposit Account Online in USA with DBS Treasures and enjoy exclusive benefits such as highly competitive interest rates, tax-free income, no minimum deposit amount and many more. Apply Now!

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At a Glance

An FCNR deposit account is a fixed deposit account for foreign currency that allows Non-Resident Indians to earn tax-free interest on their investment.

You can stay protected against forex rate fluctuations as your investment continues to grow in the same currency you choose to invest. Plus, you get competitive interest rates, the income earned is tax-free and you can repatriate funds to your country of residence.

Features and Benefits

Maintain your deposit in any of these nine currencies: USD, GBP, EUR, JPY, AUD, CAD, CHF, SGD and HKD

Avail tenures ranging from 1 to 5 years

No minimum deposit amount

Deposit amount and interest earned are fully repatriable in FCNR account

Interest earned on FCNR account is exempt from income tax in India

Benefit from competitive interest rates with DBS Treasures

Internet banking facility ensures that you have 24-hour access to your account with fully secure and quick transactions

Mobile banking on-the-go from anywhere in the world

Bank at any of our branches when you visit India using our DBS Treasures priority services

FCNR Interest Rates
Interest Rate w.e.f 1st April, 2021
Deposit Terms and Conditions:

The Bank shall, on written request from all depositors, allow withdrawal of a Resident / NRO Term deposits and NRE / FCNR Deposits before the date of its maturity. The interest on prematurely withdrawn Resident / NRO Term Deposits and NRE / FCNR deposits will be paid for the period that such deposit is held, at the rate prevailing on the date of placement of such deposit or the contracted rate, whichever is lower, subject to a deduction of a 1% penalty.

However, no interest will be paid in case of NRE / FCNR Deposits prematurely withdrawn before the expiry of 1 (one) year from the date of deposit or its renewal.

Please note that pre-closure charges of 1% will be applicable on all Term Deposits booked / renewed on or after 15th April 2019.

For detail terms and conditions click here.

Eligibility Criteria

You may be eligible to open an FCNR deposit if:

You are an NRI (Non-Resident Indian)

You have a PIO card (The Person of Indian origin) / OCI card (Overseas Citizen of India)

For NRI (Non-Resident Indian)

A valid passport

Proof of NRI status - Either Employment / Residence Visa copy or Work / Residence Permit

Address proof in India and overseas (as per the Customer Identification Policy)

A copy of your Indian PAN card or Form 60

A recent passport size colour photograph

Additionally for seafarers: Current work contract and copy of CDC along with the disembarkation stamp on the last page & FEMA declaration.

For PIO (Person of Indian Origin)

Valid passport

Valid PIO/OCI card or any other proof of PIO status (as per Customer Identification Policy)

Address Proof (Indian and overseas addresses) as per Customer Identification Policy

Signed and fully filled-in PIO declaration

A copy of your Indian PAN Card or Form 60

A recent passport-size colour photograph.

Documents Required

How to Apply

Apply Now A Relationship Manager will reach out to you shortly.

Frequently Asked Questions

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Open FCNR Deposit Online for Indians in USA

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An FCNR deposit account is a fixed deposit account for foreign currency that allows Non-Resident Indians to earn tax-free interest on their investment. You can stay protected against forex rate fluctuations as your investment continues to grow in the same currency you choose to invest.

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Open FCNR Fixed Deposit Account Online in UAE with DBS Treasures

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Open FCNR Fixed Deposit Account Online in UAE with DBS Treasures

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Open FCNR Fixed Deposit Account Online in UAE with DBS Treasures and enjoy exclusive benefits such as highly competitive interest rates, tax-free income, no minimum deposit amount and many more. Apply Now!

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Open FCNR Deposit Online for Indians in UAE Dubai

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An FCNR deposit account is a fixed deposit account for foreign currency that allows Non-Resident Indians to earn tax-free interest on their investment. You can stay protected against forex rate fluctuations as your investment continues to grow in the same currency you choose to invest.

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Open FCNR Fixed Deposit Account Online in Australia with DBS Treasures

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Open FCNR Fixed Deposit Account Online in Australia with DBS Treasures

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Open FCNR Fixed Deposit Account Online in Australia with DBS Treasures and enjoy exclusive benefits such as highly competitive interest rates, tax-free income, no minimum deposit amount and many more. Apply Now!

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At a Glance

An FCNR deposit account is a fixed deposit account for foreign currency that allows Non-Resident Indians to earn tax-free interest on their investment.

You can stay protected against forex rate fluctuations as your investment continues to grow in the same currency you choose to invest. Plus, you get competitive interest rates, the income earned is tax-free and you can repatriate funds to your country of residence.

Features and Benefits

Maintain your deposit in any of these nine currencies: USD, GBP, EUR, JPY, AUD, CAD, CHF, SGD and HKD

Avail tenures ranging from 1 to 5 years

No minimum deposit amount

Deposit amount and interest earned are fully repatriable in FCNR account

Interest earned on FCNR account is exempt from income tax in India

Benefit from competitive interest rates with DBS Treasures

Internet banking facility ensures that you have 24-hour access to your account with fully secure and quick transactions

Mobile banking on-the-go from anywhere in the world

Bank at any of our branches when you visit India using our DBS Treasures priority services

FCNR Interest Rates
Interest Rate w.e.f 1st April, 2021
Deposit Terms and Conditions:

The Bank shall, on written request from all depositors, allow withdrawal of a Resident / NRO Term deposits and NRE / FCNR Deposits before the date of its maturity. The interest on prematurely withdrawn Resident / NRO Term Deposits and NRE / FCNR deposits will be paid for the period that such deposit is held, at the rate prevailing on the date of placement of such deposit or the contracted rate, whichever is lower, subject to a deduction of a 1% penalty.

However, no interest will be paid in case of NRE / FCNR Deposits prematurely withdrawn before the expiry of 1 (one) year from the date of deposit or its renewal.

Please note that pre-closure charges of 1% will be applicable on all Term Deposits booked / renewed on or after 15th April 2019.

For detail terms and conditions click here.

Eligibility Criteria

You may be eligible to open an FCNR deposit if:

You are an NRI (Non-Resident Indian)

You have a PIO card (The Person of Indian origin) / OCI card (Overseas Citizen of India)

For NRI (Non-Resident Indian)

A valid passport

Proof of NRI status - Either Employment / Residence Visa copy or Work / Residence Permit

Address proof in India and overseas (as per the Customer Identification Policy)

A copy of your Indian PAN card or Form 60

A recent passport size colour photograph

Additionally for seafarers: Current work contract and copy of CDC along with the disembarkation stamp on the last page & FEMA declaration.

For PIO (Person of Indian Origin)

Valid passport

Valid PIO/OCI card or any other proof of PIO status (as per Customer Identification Policy)

Address Proof (Indian and overseas addresses) as per Customer Identification Policy

Signed and fully filled-in PIO declaration

A copy of your Indian PAN Card or Form 60

A recent passport-size colour photograph.

Documents Required

How to Apply

Apply Now A Relationship Manager will reach out to you shortly.

Frequently Asked Questions

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fcnr deposit online for indians in australia

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Open FCNR Deposit Online for Indians in Australia

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An FCNR deposit account is a fixed deposit account for foreign currency that allows Non-Resident Indians to earn tax-free interest on their investment. You can stay protected against forex rate fluctuations as your investment continues to grow in the same currency you choose to invest.

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Open NRO Fixed Deposit Online in USA with DBS Treasures

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Open NRO Fixed Deposit Online in USA with DBS Treasures

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Open an NRO Fixed Deposit account online in USA with DBS Treasures and earn competitive rates on Indian Income. Also, the account can be opened jointly with resident and non-resident Indians. Apply Now!

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At a Glance

NRO fixed deposits allow you to earn interest at a competitive rate on the income earned in India while you work or live overseas.

Grow your savings with DBS Treasures NRO FDs. Earn competitive interest rates on your Indian income.

Please note that DBS Treasures NRO fixed deposits can be opened jointly with resident and non-resident Indians.

Features and Benefits

DBS Treasures Non-Resident Ordinary (NRO) account fixed deposit is ideal for you if you are an NRI but have sources of regular income in India such a rental property, general fixed deposits, pension, mutual fund dividends, etc.

Interest earned on NRO account deposits is taxable as per the Income Tax Act of 1961

While the principal amount is not fully repatriable, you can transfer the entire interest earned on the deposit to a foreign currency

NRO fixed deposit account holders can open the FD jointly with a non-resident or resident Indian citizen

You can earn higher interest rates and returns on rupee income

Interest Rates
Rates w.e.f. 29th October 2020
Simple Interest rate will be paid on fixed deposits below 6 months. For fixed deposits of 6 months or above, interest will be compounded quarterly.

For more information click here.

Eligibility Criteria

Only Non-Resident individuals of Indian nationality or Indian origin can apply.

Documents Required
For NRI (Non-Resident Indian)

Indian PAN card or Form 60

A valid Indian passport

Proof of NRI status - Employment/Residence Visa copy or Work / Residence Permit

Address proof (Overseas and in India) as per Customer Identification Policy

Recent passport size colour photograph

Additionally, for Seafarers: FEMA declaration, along with the current work contract and a copy of CDC along with the last page of disembarkation stamp

For PIO (Person of Indian Origin)

A valid Indian passport

A valid PIO/OCI card or any other proof of PIO status as per Customer Identification Policy

Proof of Address (Overseas and in India) as per Customer Identification Policy

Duly signed and filled-in PIO declaration

Recent passport size colour photograph

Once a DBS Treasures NRO Savings account is opened basis above documents, NRO fixed deposits can be booked online through DBS Treasures Mobile or Internet Banking Platform. You may also choose to submit an FD request form at the nearest DBS Treasures branch.

How to Apply

Apply Now A Relationship Manager will reach out to you shortly.

Frequently Asked Questions

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nro fixed deposit online for indians in usa

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Open NRO Fixed Deposit Online for Indians in USA

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NRO fixed deposits allow you to earn interest at a competitive rate on the income earned in India while you work or live overseas. Grow your savings with DBS Treasures NRO FDs. Earn competitive interest rates on your Indian income. Please note that DBS Treasures NRO fixed deposits can be opened jointly with resident and non-resident Indians.

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Open NRO Fixed Deposit Online in UAE with DBS Treasures

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Open NRO Fixed Deposit Online in UAE with DBS Treasures

# data[].attributes.body
Open an NRO Fixed Deposit account online in UAE with DBS Treasures and earn competitive rates on Indian Income. Also, the account can be opened jointly with resident and non-resident Indians. Apply Now!

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At a Glance

NRO fixed deposits allow you to earn interest at a competitive rate on the income earned in India while you work or live overseas.

Grow your savings with DBS Treasures NRO FDs. Earn competitive interest rates on your Indian income.

Please note that DBS Treasures NRO fixed deposits can be opened jointly with resident and non-resident Indians.

Features and Benefits

DBS Treasures Non-Resident Ordinary (NRO) account fixed deposit is ideal for you if you are an NRI but have sources of regular income in India such a rental property, general fixed deposits, pension, mutual fund dividends, etc.

Interest earned on NRO account deposits is taxable as per the Income Tax Act of 1961

While the principal amount is not fully repatriable, you can transfer the entire interest earned on the deposit to a foreign currency

NRO fixed deposit account holders can open the FD jointly with a non-resident or resident Indian citizen

You can earn higher interest rates and returns on rupee income

Interest Rates
Rates w.e.f. 29th October 2020
Simple Interest rate will be paid on fixed deposits below 6 months. For fixed deposits of 6 months or above, interest will be compounded quarterly.

For more information click here.

Eligibility Criteria

Only Non-Resident individuals of Indian nationality or Indian origin can apply.

Documents Required
For NRI (Non-Resident Indian)

Indian PAN card or Form 60

A valid Indian passport

Proof of NRI status - Employment/Residence Visa copy or Work / Residence Permit

Address proof (Overseas and in India) as per Customer Identification Policy

Recent passport size colour photograph

Additionally, for Seafarers: FEMA declaration, along with the current work contract and a copy of CDC along with the last page of disembarkation stamp

For PIO (Person of Indian Origin)

A valid Indian passport

A valid PIO/OCI card or any other proof of PIO status as per Customer Identification Policy

Proof of Address (Overseas and in India) as per Customer Identification Policy

Duly signed and filled-in PIO declaration

Recent passport size colour photograph

Once a DBS Treasures NRO Savings account is opened basis above documents, NRO fixed deposits can be booked online through DBS Treasures Mobile or Internet Banking Platform. You may also choose to submit an FD request form at the nearest DBS Treasures branch.

How to Apply

Apply Now A Relationship Manager will reach out to you shortly.

Frequently Asked Questions

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Open NRO Fixed Deposit Online for Indians in UAE Dubai

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NRO fixed deposits allow you to earn interest at a competitive rate on the income earned in India while you work or live overseas. Grow your savings with DBS Treasures NRO FDs. Earn competitive interest rates on your Indian income. Please note that DBS Treasures NRO fixed deposits can be opened jointly with resident and non-resident Indians.

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Open NRO Fixed Deposit Online in Australia with DBS Treasures

# data[].attributes.subject
Open NRO Fixed Deposit Online in Australia with DBS Treasures

# data[].attributes.body
Open an NRO Fixed Deposit account online in Australia with DBS Treasures and earn competitive rates on Indian Income. Also, the account can be opened jointly with resident and non-resident Indians. Apply Now!

# data[].attributes.attachment_link.readable_text
At a Glance

NRO fixed deposits allow you to earn interest at a competitive rate on the income earned in India while you work or live overseas.

Grow your savings with DBS Treasures NRO FDs. Earn competitive interest rates on your Indian income.

Please note that DBS Treasures NRO fixed deposits can be opened jointly with resident and non-resident Indians.

Features and Benefits

DBS Treasures Non-Resident Ordinary (NRO) account fixed deposit is ideal for you if you are an NRI but have sources of regular income in India such a rental property, general fixed deposits, pension, mutual fund dividends, etc.

Interest earned on NRO account deposits is taxable as per the Income Tax Act of 1961

While the principal amount is not fully repatriable, you can transfer the entire interest earned on the deposit to a foreign currency

NRO fixed deposit account holders can open the FD jointly with a non-resident or resident Indian citizen

You can earn higher interest rates and returns on rupee income

Interest Rates
Rates w.e.f. 29th October 2020
Simple Interest rate will be paid on fixed deposits below 6 months. For fixed deposits of 6 months or above, interest will be compounded quarterly.

For more information click here.

Eligibility Criteria

Only Non-Resident individuals of Indian nationality or Indian origin can apply.

Documents Required
For NRI (Non-Resident Indian)

Indian PAN card or Form 60

A valid Indian passport

Proof of NRI status - Employment/Residence Visa copy or Work / Residence Permit

Address proof (Overseas and in India) as per Customer Identification Policy

Recent passport size colour photograph

Additionally, for Seafarers: FEMA declaration, along with the current work contract and a copy of CDC along with the last page of disembarkation stamp

For PIO (Person of Indian Origin)

A valid Indian passport

A valid PIO/OCI card or any other proof of PIO status as per Customer Identification Policy

Proof of Address (Overseas and in India) as per Customer Identification Policy

Duly signed and filled-in PIO declaration

Recent passport size colour photograph

Once a DBS Treasures NRO Savings account is opened basis above documents, NRO fixed deposits can be booked online through DBS Treasures Mobile or Internet Banking Platform. You may also choose to submit an FD request form at the nearest DBS Treasures branch.

How to Apply

Apply Now A Relationship Manager will reach out to you shortly.

Frequently Asked Questions

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nro fixed deposit  online for indians in australia

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open nro fixed deposit account in australia

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Open NRO Fixed Deposit Online for Indians in Australia

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NRO fixed deposits allow you to earn interest at a competitive rate on the income earned in India while you work or live overseas. Grow your savings with DBS Treasures NRO FDs. Earn competitive interest rates on your Indian income. Please note that DBS Treasures NRO fixed deposits can be opened jointly with resident and non-resident Indians.

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Open NRE Fixed Deposit Online in USA with DBS Treasures

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Open NRE Fixed Deposit Online in USA with DBS Treasures

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Enjoy exclusive benefits such as principal and interest earned are tax-free, competitive interest rates, and many more by opening an NRE Fixed Deposit account today in USA with DBS Treasures.

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At a Glance

NRE fixed deposits allow you to grow foreign currency savings in India and earn tax-free interest at competitive interest rates.

DBS Treasures NRE fixed deposits are fully repatriable, though the investment you make is converted to Indian rupees. On repatriation, this amount can be converted into the currency of your choosing. The principal amount and interest earned on NRE fixed deposits are 100% tax-free.

Features and Benefits

Both principal and the interest earned on NRE fixed deposits are tax-free in India

You can freely and fully repatriate the principal amount and interest earned to your country of residence with your NRE FD account

You get competitive interest rates on your NRE fixed deposits

You can hold the NRE FD jointly with more than one non-resident Indian

An NRE FD can be opened for flexible tenures lasting from one year to 10 years

You can renew your NRE fixed deposit online in a hassle-free manner

You can assign a nominee on your NRE FD

Interest Rates

Rates w.e.f. 7th November 2020
For interest rates on FDs of INR 2 Crore and above, please contact your Relationship Manager or nearest branch.
For more information click here.

Eligibility Criteria

Only Non-Resident individuals of Indian nationality or of Indian origin can apply for NRE fixed deposits.

Documents Required
For NRI (Non-Resident Indian)

Recent passport size colour photograph

Your Indian PAN card or Form 60

Copy of valid passport

Proof of NRI status - Employment/Residence Visa copy or Work / Residence Permit

Address proof (overseas and in India) as per Customer Identification Policy

Additionally, for seafarers: Copy of CDC and last page with disembarkation stamp, current work contract and FEMA declaration

For PIO (Person of Indian Origin)

Recent passport size colour photograph

A valid passport

Valid PIO/OCI card or other proof of PIO status as per Customer Identification Policy

Address proof (overseas and in India) as per Customer Identification Policy

Duly signed and filled-in PIO declaration

Once your DBS Treasures NRE savings account is opened basis the documents listed above, NRE fixed deposits can be booked online through the DBS Treasures internet or mobile banking platforms. You may also choose to submit an FD request form at the nearest DBS Treasures branch in India.

How to Apply

Apply Now A Relationship Manager will reach out to you shortly.

Frequently Asked Questions

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nre fixed deposit  online for indians in usa

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Open NRE Fixed Deposit Online for Indians in USA

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NRE fixed deposits allow you to grow foreign currency savings in India and earn tax-free interest at competitive interest rates. DBS Treasures NRE fixed deposits are fully repatriable, though the investment you make is converted to Indian rupees. On repatriation, this amount can be converted into the currency of your choosing.

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Open NRE Fixed Deposit Online in UAE with DBS Treasures

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Open NRE Fixed Deposit Online in UAE with DBS Treasures

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Enjoy exclusive benefits such as principal and interest earned are tax-free, competitive interest rates, and many more by opening an NRE Fixed Deposit account today in UAE with DBS Treasures.

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At a Glance

NRE fixed deposits allow you to grow foreign currency savings in India and earn tax-free interest at competitive interest rates.

DBS Treasures NRE fixed deposits are fully repatriable, though the investment you make is converted to Indian rupees. On repatriation, this amount can be converted into the currency of your choosing. The principal amount and interest earned on NRE fixed deposits are 100% tax-free.

Features and Benefits

Both principal and the interest earned on NRE fixed deposits are tax-free in India

You can freely and fully repatriate the principal amount and interest earned to your country of residence with your NRE FD account

You get competitive interest rates on your NRE fixed deposits

You can hold the NRE FD jointly with more than one non-resident Indian

An NRE FD can be opened for flexible tenures lasting from one year to 10 years

You can renew your NRE fixed deposit online in a hassle-free manner

You can assign a nominee on your NRE FD

Interest Rates

Rates w.e.f. 7th November 2020
For interest rates on FDs of INR 2 Crore and above, please contact your Relationship Manager or nearest branch.
For more information click here.

Eligibility Criteria

Only Non-Resident individuals of Indian nationality or of Indian origin can apply for NRE fixed deposits.

Documents Required
For NRI (Non-Resident Indian)

Recent passport size colour photograph

Your Indian PAN card or Form 60

Copy of valid passport

Proof of NRI status - Employment/Residence Visa copy or Work / Residence Permit

Address proof (overseas and in India) as per Customer Identification Policy

Additionally, for seafarers: Copy of CDC and last page with disembarkation stamp, current work contract and FEMA declaration

For PIO (Person of Indian Origin)

Recent passport size colour photograph

A valid passport

Valid PIO/OCI card or other proof of PIO status as per Customer Identification Policy

Address proof (overseas and in India) as per Customer Identification Policy

Duly signed and filled-in PIO declaration

Once your DBS Treasures NRE savings account is opened basis the documents listed above, NRE fixed deposits can be booked online through the DBS Treasures internet or mobile banking platforms. You may also choose to submit an FD request form at the nearest DBS Treasures branch in India.

How to Apply

Apply Now A Relationship Manager will reach out to you shortly.

Frequently Asked Questions

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nre fixed deposit online for indians in dubai

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open nre fixed deposit account  in dubai

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open nre fd account in dubai nre fixed deposit online for indians in uae

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Open NRE Fixed Deposit Online for Indians in UAE Dubai

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NRE fixed deposits allow you to grow foreign currency savings in India and earn tax-free interest at competitive interest rates. DBS Treasures NRE fixed deposits are fully repatriable, though the investment you make is converted to Indian rupees. On repatriation, this amount can be converted into the currency of your choosing.

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Open NRE Fixed Deposit Online in Australia with DBS Treasures

# data[].attributes.subject
Open NRE Fixed Deposit Online in Australia with DBS Treasures

# data[].attributes.body
Enjoy exclusive benefits such as principal and interest earned are tax-free, competitive interest rates, and many more by opening an NRE Fixed Deposit account today in Australia with DBS Treasures.

# data[].attributes.attachment_link.readable_text
At a Glance

NRE fixed deposits allow you to grow foreign currency savings in India and earn tax-free interest at competitive interest rates.

DBS Treasures NRE fixed deposits are fully repatriable, though the investment you make is converted to Indian rupees. On repatriation, this amount can be converted into the currency of your choosing. The principal amount and interest earned on NRE fixed deposits are 100% tax-free.

Features and Benefits

Both principal and the interest earned on NRE fixed deposits are tax-free in India

You can freely and fully repatriate the principal amount and interest earned to your country of residence with your NRE FD account

You get competitive interest rates on your NRE fixed deposits

You can hold the NRE FD jointly with more than one non-resident Indian

An NRE FD can be opened for flexible tenures lasting from one year to 10 years

You can renew your NRE fixed deposit online in a hassle-free manner

You can assign a nominee on your NRE FD

Interest Rates

Rates w.e.f. 7th November 2020
For interest rates on FDs of INR 2 Crore and above, please contact your Relationship Manager or nearest branch.
For more information click here.

Eligibility Criteria

Only Non-Resident individuals of Indian nationality or of Indian origin can apply for NRE fixed deposits.

Documents Required
For NRI (Non-Resident Indian)

Recent passport size colour photograph

Your Indian PAN card or Form 60

Copy of valid passport

Proof of NRI status - Employment/Residence Visa copy or Work / Residence Permit

Address proof (overseas and in India) as per Customer Identification Policy

Additionally, for seafarers: Copy of CDC and last page with disembarkation stamp, current work contract and FEMA declaration

For PIO (Person of Indian Origin)

Recent passport size colour photograph

A valid passport

Valid PIO/OCI card or other proof of PIO status as per Customer Identification Policy

Address proof (overseas and in India) as per Customer Identification Policy

Duly signed and filled-in PIO declaration

Once your DBS Treasures NRE savings account is opened basis the documents listed above, NRE fixed deposits can be booked online through the DBS Treasures internet or mobile banking platforms. You may also choose to submit an FD request form at the nearest DBS Treasures branch in India.

How to Apply

Apply Now A Relationship Manager will reach out to you shortly.

Frequently Asked Questions

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nre fixed deposit  online for indians in australia

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open nre fixed deposit account  in australia

# data[].attributes.attachment_link.title
Open NRE Fixed Deposit Online for Indians in Australia

# data[].attributes.attachment_link.description
NRE fixed deposits allow you to grow foreign currency savings in India and earn tax-free interest at competitive interest rates. DBS Treasures NRE fixed deposits are fully repatriable, though the investment you make is converted to Indian rupees. On repatriation, this amount can be converted into the currency of your choosing.

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Open NRO Account Online in USA with DBS Treasures

# data[].attributes.subject
Open NRO Account Online in USA with DBS Treasures

# data[].attributes.body
Open an NRO account in USA with DBS Treasures and manage it online from anywhere across the world with several unmatched privileges. You can also repatriate up to USD 1 million in a financial year. Apply Now!

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At a Glance

An NRO account allows you to access and manage the income you earn in India. As an NRI, you may still earn from sources in India like rent from owned property in India, mutual fund dividends, pension, fixed deposit interest and other Indian investments. You can conveniently deposit income from all these sources into your NRO savings account. You can also repatriate up to USD 1 million in a financial year from this account to your country of residence.

Another feature of an NRO account is that you can deposit foreign currency into it. The amount gets auto-converted into INR. You can also withdraw from an NRO savings account in Indian rupees.

If you open an NRO account with DBS Treasures, you can manage it online from anywhere across the world. You also have access to several unmatched privileges to bring you the best in NRI banking.

Features and Benefits

NRO accounts are savings accounts in which funds are maintained in Indian rupees or INR

Foreign currencies deposited into these accounts are auto-converted into INR at prevailing foreign exchange rates

You can repatriate up to USD 1 million (with taxes) in a financial year from these types of accounts

You get a DBS Infinite Debit Card with exclusive offers

You can earn interest at competitive rates of up to 3% per annum on your savings account

You can open this account jointly with a resident Indian on a former or survivor basis

These accounts are ideal for placing income earned in India from sources such as rent from property, interest earned on fixed deposits, dividends earned from mutual funds, pension income, etc.

Interest earned on an NRO account is taxable

Double Taxation Avoidance Agreement (DTAA)

While NRO accounts are not exempt from tax, account holders can avoid paying double taxes, thanks to the Double Taxation Avoidance Agreement (DTAA). If you are an NRI, any income you earn in India will be taxed by the Indian government. However, you may also have to pay taxes on the same income in your country of residence. The Reserve Bank of India (RBI) has entered into a DTAA with several countries, as a result of which you can avoid paying double taxes.

As per the DTAA signed between India and several other countries, you only have to pay taxes once, at a rate fixed by the agreement. Therefore, if you as an NRI have earned income in India, the tax you have to pay will depend on the rates specified in the DTAA with the country in which you live currently.

India has entered into a DTAA with several countries where Indians are present in overseas. Here are the taxes you have to pay, according to the country you live in:

Fees and Charges

Click here to view the fees and charges.

Eligibility Criteria

The following individuals are eligible to open an NRO Savings Account:

NRI (Non-Resident Indian)

Indian citizens residing outside India on employment, student or business visas

Individuals posted in the UN or deputed abroad by the Government of India or public sector undertakings

Indian nationals in the merchant navy, individuals who are working on oil rigs and those who are employed with airlines overseas

PIO (Person of Indian origin)/OCI (Overseas Citizen of India)

Those who have held an Indian passport at any point in time

A parent or their grandparent was a citizen of India by the Constitution of India or India Citizen Act 1955

The spouse of an Indian Citizen or spouse of PIO

Documents Required

Copy of valid passport (pages with your name, address, date of birth, date and place of issue, expiry date, photograph, address, signature, immigration stamp and visa page, if any)

Proof of NRI status, by way of valid Employment/Residence Visa copy or Work / Residence Permit

Proof of an overseas and an Indian address (as per Customer Identification Policy)

Copy of Indian PAN card or Form 60

Recent passport size colour photograph

Additionally, for seafarers: Current work contract and copy of CDC along with the last page of disembarkation stamp & FEMA declaration is required for confirming NR status

For PIO (Person of Indian Origin)

Copy of valid passport (pages with your name, address, date of birth, date and place of issue, expiry date, photograph, signature and observation page, if any)

Copy of valid PIO/OCI card or any other proof of PIO status (as per Customer Identification Policy)

Proof of Overseas and Indian Address (as per Customer Identification Policy)

Duly signed and filled-in PIO declaration

Copy of Indian PAN Card or Form 60

Recent passport size colour photograph

How to Apply

Apply Now A Relationship Manager will reach out to you shortly.

Frequently Asked Questions

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nro savings account online for indians in us

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Open NRO Savings Account Online for Indians in US

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An NRO account allows you to access and manage the income you earn in India. As an NRI, you may still earn from sources in India like rent from owned property in India, mutual fund dividends, pension, fixed deposit interest and other Indian investments.

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Open NRO Account Online in UAE with DBS Treasures

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Open NRO Account Online in UAE with DBS Treasures

# data[].attributes.body
Open an NRO account in UAE with DBS Treasures and manage it online from anywhere across the world with several unmatched privileges. You can also repatriate up to USD 1 million in a financial year. Apply Now!

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At a Glance

An NRO account allows you to access and manage the income you earn in India. As an NRI, you may still earn from sources in India like rent from owned property in India, mutual fund dividends, pension, fixed deposit interest and other Indian investments. You can conveniently deposit income from all these sources into your NRO savings account. You can also repatriate up to USD 1 million in a financial year from this account to your country of residence.

Another feature of an NRO account is that you can deposit foreign currency into it. The amount gets auto-converted into INR. You can also withdraw from an NRO savings account in Indian rupees.

If you open an NRO account with DBS Treasures, you can manage it online from anywhere across the world. You also have access to several unmatched privileges to bring you the best in NRI banking.

Features and Benefits

NRO accounts are savings accounts in which funds are maintained in Indian rupees or INR

Foreign currencies deposited into these accounts are auto-converted into INR at prevailing foreign exchange rates

You can repatriate up to USD 1 million (with taxes) in a financial year from these types of accounts

You get a DBS Infinite Debit Card with exclusive offers

You can earn interest at competitive rates of up to 3% per annum on your savings account

You can open this account jointly with a resident Indian on a former or survivor basis

These accounts are ideal for placing income earned in India from sources such as rent from property, interest earned on fixed deposits, dividends earned from mutual funds, pension income, etc.

Interest earned on an NRO account is taxable

Double Taxation Avoidance Agreement (DTAA)

While NRO accounts are not exempt from tax, account holders can avoid paying double taxes, thanks to the Double Taxation Avoidance Agreement (DTAA). If you are an NRI, any income you earn in India will be taxed by the Indian government. However, you may also have to pay taxes on the same income in your country of residence. The Reserve Bank of India (RBI) has entered into a DTAA with several countries, as a result of which you can avoid paying double taxes.

As per the DTAA signed between India and several other countries, you only have to pay taxes once, at a rate fixed by the agreement. Therefore, if you as an NRI have earned income in India, the tax you have to pay will depend on the rates specified in the DTAA with the country in which you live currently.

India has entered into a DTAA with several countries where Indians are present in overseas. Here are the taxes you have to pay, according to the country you live in:

Fees and Charges

Click here to view the fees and charges.

Eligibility Criteria

The following individuals are eligible to open an NRO Savings Account:

NRI (Non-Resident Indian)

Indian citizens residing outside India on employment, student or business visas

Individuals posted in the UN or deputed abroad by the Government of India or public sector undertakings

Indian nationals in the merchant navy, individuals who are working on oil rigs and those who are employed with airlines overseas

PIO (Person of Indian origin)/OCI (Overseas Citizen of India)

Those who have held an Indian passport at any point in time

A parent or their grandparent was a citizen of India by the Constitution of India or India Citizen Act 1955

The spouse of an Indian Citizen or spouse of PIO

Documents Required

Copy of valid passport (pages with your name, address, date of birth, date and place of issue, expiry date, photograph, address, signature, immigration stamp and visa page, if any)

Proof of NRI status, by way of valid Employment/Residence Visa copy or Work / Residence Permit

Proof of an overseas and an Indian address (as per Customer Identification Policy)

Copy of Indian PAN card or Form 60

Recent passport size colour photograph

Additionally, for seafarers: Current work contract and copy of CDC along with the last page of disembarkation stamp & FEMA declaration is required for confirming NR status

For PIO (Person of Indian Origin)

Copy of valid passport (pages with your name, address, date of birth, date and place of issue, expiry date, photograph, signature and observation page, if any)

Copy of valid PIO/OCI card or any other proof of PIO status (as per Customer Identification Policy)

Proof of Overseas and Indian Address (as per Customer Identification Policy)

Duly signed and filled-in PIO declaration

Copy of Indian PAN Card or Form 60

Recent passport size colour photograph

How to Apply

Apply Now A Relationship Manager will reach out to you shortly.

Frequently Asked Questions

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nro savings account online for indians in uae dubai

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Open NRO Savings Account Online for Indians in UAE Dubai

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An NRO account allows you to access and manage the income you earn in India. As an NRI, you may still earn from sources in India like rent from owned property in India, mutual fund dividends, pension, fixed deposit interest and other Indian investments.

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Open NRO Account Online in Australia with DBS Treasures

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Open NRO Account Online in Australia with DBS Treasures

# data[].attributes.body
Open an NRO account in Australia with DBS Treasures and manage it online from anywhere across the world with several unmatched privileges. You can also repatriate up to USD 1 million in a financial year. Apply Now!

# data[].attributes.attachment_link.readable_text
At a Glance

An NRO account allows you to access and manage the income you earn in India. As an NRI, you may still earn from sources in India like rent from owned property in India, mutual fund dividends, pension, fixed deposit interest and other Indian investments. You can conveniently deposit income from all these sources into your NRO savings account. You can also repatriate up to USD 1 million in a financial year from this account to your country of residence.

Another feature of an NRO account is that you can deposit foreign currency into it. The amount gets auto-converted into INR. You can also withdraw from an NRO savings account in Indian rupees.

If you open an NRO account with DBS Treasures, you can manage it online from anywhere across the world. You also have access to several unmatched privileges to bring you the best in NRI banking.

Features and Benefits

NRO accounts are savings accounts in which funds are maintained in Indian rupees or INR

Foreign currencies deposited into these accounts are auto-converted into INR at prevailing foreign exchange rates

You can repatriate up to USD 1 million (with taxes) in a financial year from these types of accounts

You get a DBS Infinite Debit Card with exclusive offers

You can earn interest at competitive rates of up to 3% per annum on your savings account

You can open this account jointly with a resident Indian on a former or survivor basis

These accounts are ideal for placing income earned in India from sources such as rent from property, interest earned on fixed deposits, dividends earned from mutual funds, pension income, etc.

Interest earned on an NRO account is taxable

Double Taxation Avoidance Agreement (DTAA)

While NRO accounts are not exempt from tax, account holders can avoid paying double taxes, thanks to the Double Taxation Avoidance Agreement (DTAA). If you are an NRI, any income you earn in India will be taxed by the Indian government. However, you may also have to pay taxes on the same income in your country of residence. The Reserve Bank of India (RBI) has entered into a DTAA with several countries, as a result of which you can avoid paying double taxes.

As per the DTAA signed between India and several other countries, you only have to pay taxes once, at a rate fixed by the agreement. Therefore, if you as an NRI have earned income in India, the tax you have to pay will depend on the rates specified in the DTAA with the country in which you live currently.

India has entered into a DTAA with several countries where Indians are present in overseas. Here are the taxes you have to pay, according to the country you live in:

Fees and Charges

Click here to view the fees and charges.

Eligibility Criteria

The following individuals are eligible to open an NRO Savings Account:

NRI (Non-Resident Indian)

Indian citizens residing outside India on employment, student or business visas

Individuals posted in the UN or deputed abroad by the Government of India or public sector undertakings

Indian nationals in the merchant navy, individuals who are working on oil rigs and those who are employed with airlines overseas

PIO (Person of Indian origin)/OCI (Overseas Citizen of India)

Those who have held an Indian passport at any point in time

A parent or their grandparent was a citizen of India by the Constitution of India or India Citizen Act 1955

The spouse of an Indian Citizen or spouse of PIO

Documents Required

Copy of valid passport (pages with your name, address, date of birth, date and place of issue, expiry date, photograph, address, signature, immigration stamp and visa page, if any)

Proof of NRI status, by way of valid Employment/Residence Visa copy or Work / Residence Permit

Proof of an overseas and an Indian address (as per Customer Identification Policy)

Copy of Indian PAN card or Form 60

Recent passport size colour photograph

Additionally, for seafarers: Current work contract and copy of CDC along with the last page of disembarkation stamp & FEMA declaration is required for confirming NR status

For PIO (Person of Indian Origin)

Copy of valid passport (pages with your name, address, date of birth, date and place of issue, expiry date, photograph, signature and observation page, if any)

Copy of valid PIO/OCI card or any other proof of PIO status (as per Customer Identification Policy)

Proof of Overseas and Indian Address (as per Customer Identification Policy)

Duly signed and filled-in PIO declaration

Copy of Indian PAN Card or Form 60

Recent passport size colour photograph

How to Apply

Apply Now A Relationship Manager will reach out to you shortly.

Frequently Asked Questions

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nro savings account online for indians in australia

# data[].attributes.attachment_link.title
Open NRO Savings Account Online for Indians in Australia

# data[].attributes.attachment_link.description
An NRO account allows you to access and manage the income you earn in India. As an NRI, you may still earn from sources in India like rent from owned property in India, mutual fund dividends, pension, fixed deposit interest and other Indian investments.

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Open NRO Account Online in Singapore with DBS Treasures

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Open NRO Account Online in Singapore with DBS Treasures

# data[].attributes.body
Open an NRO account in Singapore with DBS Treasures and manage it online from anywhere across the world with several unmatched privileges. You can also repatriate up to USD 1 million in a financial year. Apply Now!

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At a Glance

An NRO account allows you to access and manage the income you earn in India. As an NRI, you may still earn from sources in India like rent from owned property in India, mutual fund dividends, pension, fixed deposit interest and other Indian investments. You can conveniently deposit income from all these sources into your NRO savings account. You can also repatriate up to USD 1 million in a financial year from this account to your country of residence.

Another feature of an NRO account is that you can deposit foreign currency into it. The amount gets auto-converted into INR. You can also withdraw from an NRO savings account in Indian rupees.

If you open an NRO account with DBS Treasures, you can manage it online from anywhere across the world. You also have access to several unmatched privileges to bring you the best in NRI banking.

Features and Benefits

NRO accounts are savings accounts in which funds are maintained in Indian rupees or INR

Foreign currencies deposited into these accounts are auto-converted into INR at prevailing foreign exchange rates

You can repatriate up to USD 1 million (with taxes) in a financial year from these types of accounts

You get a DBS Infinite Debit Card with exclusive offers

You can earn interest at competitive rates of up to 3% per annum on your savings account

You can open this account jointly with a resident Indian on a former or survivor basis

These accounts are ideal for placing income earned in India from sources such as rent from property, interest earned on fixed deposits, dividends earned from mutual funds, pension income, etc.

Interest earned on an NRO account is taxable

Double Taxation Avoidance Agreement (DTAA)

While NRO accounts are not exempt from tax, account holders can avoid paying double taxes, thanks to the Double Taxation Avoidance Agreement (DTAA). If you are an NRI, any income you earn in India will be taxed by the Indian government. However, you may also have to pay taxes on the same income in your country of residence. The Reserve Bank of India (RBI) has entered into a DTAA with several countries, as a result of which you can avoid paying double taxes.

As per the DTAA signed between India and several other countries, you only have to pay taxes once, at a rate fixed by the agreement. Therefore, if you as an NRI have earned income in India, the tax you have to pay will depend on the rates specified in the DTAA with the country in which you live currently.

India has entered into a DTAA with several countries where Indians are present in overseas. Here are the taxes you have to pay, according to the country you live in:

Fees and Charges

Click here to view the fees and charges.

Eligibility Criteria

The following individuals are eligible to open an NRO Savings Account:

NRI (Non-Resident Indian)

Indian citizens residing outside India on employment, student or business visas

Individuals posted in the UN or deputed abroad by the Government of India or public sector undertakings

Indian nationals in the merchant navy, individuals who are working on oil rigs and those who are employed with airlines overseas

PIO (Person of Indian origin)/OCI (Overseas Citizen of India)

Those who have held an Indian passport at any point in time

A parent or their grandparent was a citizen of India by the Constitution of India or India Citizen Act 1955

The spouse of an Indian Citizen or spouse of PIO

Documents Required

Copy of valid passport (pages with your name, address, date of birth, date and place of issue, expiry date, photograph, address, signature, immigration stamp and visa page, if any)

Proof of NRI status, by way of valid Employment/Residence Visa copy or Work / Residence Permit

Proof of an overseas and an Indian address (as per Customer Identification Policy)

Copy of Indian PAN card or Form 60

Recent passport size colour photograph

Additionally, for seafarers: Current work contract and copy of CDC along with the last page of disembarkation stamp & FEMA declaration is required for confirming NR status

For PIO (Person of Indian Origin)

Copy of valid passport (pages with your name, address, date of birth, date and place of issue, expiry date, photograph, signature and observation page, if any)

Copy of valid PIO/OCI card or any other proof of PIO status (as per Customer Identification Policy)

Proof of Overseas and Indian Address (as per Customer Identification Policy)

Duly signed and filled-in PIO declaration

Copy of Indian PAN Card or Form 60

Recent passport size colour photograph

How to Apply

Apply Now A Relationship Manager will reach out to you shortly.

Frequently Asked Questions

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nro savings account online for indians in singapore

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Open NRO Savings Account Online for Indians in Singapore

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An NRO account allows you to access and manage the income you earn in India. As an NRI, you may still earn from sources in India like rent from owned property in India, mutual fund dividends, pension, fixed deposit interest and other Indian investments.

# data[].attributes.headline
Open NRE Account Online in USA with DBS Treasures

# data[].attributes.subject
Open NRE Account Online in USA with DBS Treasures

# data[].attributes.body
Open NRE Account Online in USA with DBS Treasures and get exclusive benefits and privileges that go beyond traditional banking and maintain savings in INR at a higher rate of interest.

# data[].attributes.attachment_link.readable_text
At a Glance

As an NRI, you can deposit your foreign currency earnings easily into NRE accounts. There is no limit on the amount you can repatriate to your country of residence. You can even withdraw from your NRE savings account in Indian Rupees.

You can choose to open your NRE savings account individually or jointly with another non-resident Indian. You can also invest online in mutual funds easily through your NRE account.

An NRE account from DBS Treasures offers a competitive interest rate on your savings account and fixed deposits. It also has a host of exclusive benefits and privileges that go beyond traditional banking.

Features and Benefits

Earn high interest rates of up to 3% per annum on savings parked in the account

Principal and interest amounts earned are fully and freely repatriable

Transfer money anywhere in the world easily and safely with internet banking and mobile banking services

A joint NRE account can be opened along with another Non-Resident Indian or Person of Indian Origin (PIO) and operated on either or survivor basis

An NRE account can be used to make investments in India across mutual funds

Both principal and interest earned are tax free in India

Fees and Charges

Click here to view the fees and charges.

Eligibility Criteria

The following individuals are eligible to open an NRE Savings Account:

NRI (Non Resident Indian)

An Indian citizen residing outside India for employment, studies or business

Individual posted in UN Organisation or official deputed abroad by the Government of India or public sector undertakings

Indian nationals who may be mariners or seafarers working on oil rigs or registered foreign airlines

PIO (The Person of Indian origin) / OCI (Overseas Citizen of India)

Has held an Indian passport at any point of time

A parent or their grandparent was a citizen of India under the Constitution of India or India Citizen Act 1955

Is a spouse of an Indian Citizen or spouse of PIO

Documents Required
For NRI (Non-Resident Indian)

Copy of valid passport (pages with your name, address, date of birth, date and place of issue, expiry date, photograph, address, signature, immigration stamp and visa pages, if any)

Proof of NRI status, by way of valid employment/residence visa copy or work/residence permit

Proof of Overseas and Indian Address (as per Customer Identification Policy)

Copy of Indian PAN card or Form 60

Recent passport size colour photograph

Additionally, for seafarers: Current work contract and copy of CDC along with the last page of disembarkation stamp & FEMA declaration is required to confirm NRI status

For PIO (Person of Indian Origin)

Copy of valid passport (pages with your name, address, date of birth, date and place of issue, expiry date, photograph, signature and observation page, if any)

Copy of valid PIO/OCI card or any other proof of PIO status (as per Customer Identification Policy)

Proof of overseas and Indian address (as per Customer Identification Policy)

Duly signed and filled-in PIO declaration

Copy of Indian PAN Card or Form 60

Recent passport size colour photograph

How to Apply

Apply Now A Relationship Manager will reach out to you shortly.

Frequently Asked Questions

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nre savings account online for indians in usa

# data[].attributes.attachment_link.title
Open NRE Savings Account Online for Indians in the USA

# data[].attributes.attachment_link.description
As an NRI, you can deposit your foreign currency earnings easily into NRE accounts. There is no limit on the amount you can repatriate to your country of residence. You can even withdraw from your NRE savings account in Indian Rupees. You can choose to open your NRE savings account individually or jointly with another non-resident Indian.

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Open NRE Account Online in UAE with DBS Treasures

# data[].attributes.subject
Open NRE Account Online in UAE with DBS Treasures

# data[].attributes.body
Open NRE Account Online in UAE with DBS Treasures and get exclusive benefits and privileges that go beyond traditional banking and maintain savings in INR at a higher rate of interest.

# data[].attributes.attachment_link.readable_text
At a Glance

As an NRI, you can deposit your foreign currency earnings easily into NRE accounts. There is no limit on the amount you can repatriate to your country of residence. You can even withdraw from your NRE savings account in Indian Rupees.

You can choose to open your NRE savings account individually or jointly with another non-resident Indian. You can also invest online in mutual funds easily through your NRE account.

An NRE account from DBS Treasures offers a competitive interest rate on your savings account and fixed deposits. It also has a host of exclusive benefits and privileges that go beyond traditional banking.

Features and Benefits

Earn high interest rates of up to 3% per annum on savings parked in the account

Principal and interest amounts earned are fully and freely repatriable

Transfer money anywhere in the world easily and safely with internet banking and mobile banking services

A joint NRE account can be opened along with another Non-Resident Indian or Person of Indian Origin (PIO) and operated on either or survivor basis

An NRE account can be used to make investments in India across mutual funds

Both principal and interest earned are tax free in India

Fees and Charges

Click here to view the fees and charges.

Eligibility Criteria

The following individuals are eligible to open an NRE Savings Account:

NRI (Non Resident Indian)

An Indian citizen residing outside India for employment, studies or business

Individual posted in UN Organisation or official deputed abroad by the Government of India or public sector undertakings

Indian nationals who may be mariners or seafarers working on oil rigs or registered foreign airlines

PIO (The Person of Indian origin) / OCI (Overseas Citizen of India)

Has held an Indian passport at any point of time

A parent or their grandparent was a citizen of India under the Constitution of India or India Citizen Act 1955

Is a spouse of an Indian Citizen or spouse of PIO

Documents Required
For NRI (Non-Resident Indian)

Copy of valid passport (pages with your name, address, date of birth, date and place of issue, expiry date, photograph, address, signature, immigration stamp and visa pages, if any)

Proof of NRI status, by way of valid employment/residence visa copy or work/residence permit

Proof of Overseas and Indian Address (as per Customer Identification Policy)

Copy of Indian PAN card or Form 60

Recent passport size colour photograph

Additionally, for seafarers: Current work contract and copy of CDC along with the last page of disembarkation stamp & FEMA declaration is required to confirm NRI status

For PIO (Person of Indian Origin)

Copy of valid passport (pages with your name, address, date of birth, date and place of issue, expiry date, photograph, signature and observation page, if any)

Copy of valid PIO/OCI card or any other proof of PIO status (as per Customer Identification Policy)

Proof of overseas and Indian address (as per Customer Identification Policy)

Duly signed and filled-in PIO declaration

Copy of Indian PAN Card or Form 60

Recent passport size colour photograph

How to Apply

Apply Now A Relationship Manager will reach out to you shortly.

Frequently Asked Questions

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nre savings account online for indians in dubai

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Open NRE Savings Account Online for Indians in UAE Dubai

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As an NRI, you can deposit your foreign currency earnings easily into NRE accounts. There is no limit on the amount you can repatriate to your country of residence. You can even withdraw from your NRE savings account in Indian Rupees. You can choose to open your NRE savings account individually or jointly with another non-resident Indian.

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Open NRE Account Online in Australia with DBS Treasures

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Open NRE Account Online in Australia with DBS Treasures

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Open NRE Account Online in Australia with DBS Treasures and get exclusive benefits and privileges that go beyond traditional banking and maintain savings in INR at a higher rate of interest.

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At a Glance

As an NRI, you can deposit your foreign currency earnings easily into NRE accounts. There is no limit on the amount you can repatriate to your country of residence. You can even withdraw from your NRE savings account in Indian Rupees.

You can choose to open your NRE savings account individually or jointly with another non-resident Indian. You can also invest online in mutual funds easily through your NRE account.

An NRE account from DBS Treasures offers a competitive interest rate on your savings account and fixed deposits. It also has a host of exclusive benefits and privileges that go beyond traditional banking.

Features and Benefits

Earn high interest rates of up to 3% per annum on savings parked in the account

Principal and interest amounts earned are fully and freely repatriable

Transfer money anywhere in the world easily and safely with internet banking and mobile banking services

A joint NRE account can be opened along with another Non-Resident Indian or Person of Indian Origin (PIO) and operated on either or survivor basis

An NRE account can be used to make investments in India across mutual funds

Both principal and interest earned are tax free in India

Fees and Charges

Click here to view the fees and charges.

Eligibility Criteria

The following individuals are eligible to open an NRE Savings Account:

NRI (Non Resident Indian)

An Indian citizen residing outside India for employment, studies or business

Individual posted in UN Organisation or official deputed abroad by the Government of India or public sector undertakings

Indian nationals who may be mariners or seafarers working on oil rigs or registered foreign airlines

PIO (The Person of Indian origin) / OCI (Overseas Citizen of India)

Has held an Indian passport at any point of time

A parent or their grandparent was a citizen of India under the Constitution of India or India Citizen Act 1955

Is a spouse of an Indian Citizen or spouse of PIO

Documents Required
For NRI (Non-Resident Indian)

Copy of valid passport (pages with your name, address, date of birth, date and place of issue, expiry date, photograph, address, signature, immigration stamp and visa pages, if any)

Proof of NRI status, by way of valid employment/residence visa copy or work/residence permit

Proof of Overseas and Indian Address (as per Customer Identification Policy)

Copy of Indian PAN card or Form 60

Recent passport size colour photograph

Additionally, for seafarers: Current work contract and copy of CDC along with the last page of disembarkation stamp & FEMA declaration is required to confirm NRI status

For PIO (Person of Indian Origin)

Copy of valid passport (pages with your name, address, date of birth, date and place of issue, expiry date, photograph, signature and observation page, if any)

Copy of valid PIO/OCI card or any other proof of PIO status (as per Customer Identification Policy)

Proof of overseas and Indian address (as per Customer Identification Policy)

Duly signed and filled-in PIO declaration

Copy of Indian PAN Card or Form 60

Recent passport size colour photograph

How to Apply

Apply Now A Relationship Manager will reach out to you shortly.

Frequently Asked Questions

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nre savings account online for indians in australia

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Open NRE Savings Account Online for Indians in Australia

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As an NRI, you can deposit your foreign currency earnings easily into NRE accounts. There is no limit on the amount you can repatriate to your country of residence. You can even withdraw from your NRE savings account in Indian Rupees. You can choose to open your NRE savings account individually or jointly with another non-resident Indian.

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Open NRE Account Online in Singapore with DBS Treasures

# data[].attributes.subject
Open NRE Account Online in Singapore with DBS Treasures

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Open NRE Account Online in Singapore with DBS Treasures and get exclusive benefits and privileges that go beyond traditional banking and maintain savings in INR at a higher rate of interest.

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At a Glance

As an NRI, you can deposit your foreign currency earnings easily into NRE accounts. There is no limit on the amount you can repatriate to your country of residence. You can even withdraw from your NRE savings account in Indian Rupees.

You can choose to open your NRE savings account individually or jointly with another non-resident Indian. You can also invest online in mutual funds easily through your NRE account.

An NRE account from DBS Treasures offers a competitive interest rate on your savings account and fixed deposits. It also has a host of exclusive benefits and privileges that go beyond traditional banking.

Features and Benefits

Earn high interest rates of up to 3% per annum on savings parked in the account

Principal and interest amounts earned are fully and freely repatriable

Transfer money anywhere in the world easily and safely with internet banking and mobile banking services

A joint NRE account can be opened along with another Non-Resident Indian or Person of Indian Origin (PIO) and operated on either or survivor basis

An NRE account can be used to make investments in India across mutual funds

Both principal and interest earned are tax free in India

Fees and Charges

Click here to view the fees and charges.

Eligibility Criteria

The following individuals are eligible to open an NRE Savings Account:

NRI (Non Resident Indian)

An Indian citizen residing outside India for employment, studies or business

Individual posted in UN Organisation or official deputed abroad by the Government of India or public sector undertakings

Indian nationals who may be mariners or seafarers working on oil rigs or registered foreign airlines

PIO (The Person of Indian origin) / OCI (Overseas Citizen of India)

Has held an Indian passport at any point of time

A parent or their grandparent was a citizen of India under the Constitution of India or India Citizen Act 1955

Is a spouse of an Indian Citizen or spouse of PIO

Documents Required
For NRI (Non-Resident Indian)

Copy of valid passport (pages with your name, address, date of birth, date and place of issue, expiry date, photograph, address, signature, immigration stamp and visa pages, if any)

Proof of NRI status, by way of valid employment/residence visa copy or work/residence permit

Proof of Overseas and Indian Address (as per Customer Identification Policy)

Copy of Indian PAN card or Form 60

Recent passport size colour photograph

Additionally, for seafarers: Current work contract and copy of CDC along with the last page of disembarkation stamp & FEMA declaration is required to confirm NRI status

For PIO (Person of Indian Origin)

Copy of valid passport (pages with your name, address, date of birth, date and place of issue, expiry date, photograph, signature and observation page, if any)

Copy of valid PIO/OCI card or any other proof of PIO status (as per Customer Identification Policy)

Proof of overseas and Indian address (as per Customer Identification Policy)

Duly signed and filled-in PIO declaration

Copy of Indian PAN Card or Form 60

Recent passport size colour photograph

How to Apply

Apply Now A Relationship Manager will reach out to you shortly.

Frequently Asked Questions

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nre savings account online for indians in singapore

# data[].attributes.attachment_link.title
Open NRE Savings Account Online for Indians in Singapore

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As an NRI, you can deposit your foreign currency earnings easily into NRE accounts. There is no limit on the amount you can repatriate to your country of residence. You can even withdraw from your NRE savings account in Indian Rupees. You can choose to open your NRE savings account individually or jointly with another non-resident Indian.

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Open NRI Account Online in USA with DBS Treasures

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Open NRI Account Online in USA with DBS Treasures

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NRI savings accounts are one-stop solutions for the Indians working in United States. Choose from NRE, NRO and FCNR accounts as per your needs. Open NRI Account Online in USA with DBS Treasures.

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At a Glance

NRI savings accounts allow NRIs to deposit income earned abroad and in India while they work overseas. These accounts are of two types, NRE or NRO accounts. Each has its purpose and every NRI has to have both.

DBS Treasures NRI savings accounts are one-stop solutions for citizens of India. If you open an NRI savings account with us, you get a competitive interest rate and many more benefits.

Features and Benefits

With a DBS Treasures NRI Savings Account, you will have the below features and benefits.

Easy to open: Opening an NRI Savings account at DBS Treasures is extremely easy. You can open the account by filling out a form online or taking a printout and self-authenticating all the necessary documents. This can then be dropped off at the DBS Treasures office nearest to you.

FCNR deposit: At DBS Treasures, you have the advantage of booking foreign currency deposits, which allows you to save money in a foreign currency. The best part? You can earn interest in the currency of your choice.

Tax benefits: Interest earned in an NRE account is exempt from income tax in India, while interest earned in the NRO account is subject to TDS as per income tax regulations (in India).

Through DBS Treasures you can open one or both types of NRI savings account

NRE Savings Account

With DBS Treasures Non-Resident External (NRE) savings accounts, you can deposit your funds in a foreign currency and withdraw it in INR. Funds in this account are fully repatriable
Features of the NRE Account:

It can be maintained as a savings account or for long-term deposits

Interest earned in NRE account is exempt from income tax in India

DBS Treasures offers high interest rates of up to 3.5% p.a. on NRE Savings Account

Funds maintained in NRE Savings Account and deposits are wholly repatriable

NRO Savings Account

A DBS Treasures Non-Resident Ordinary (NRO) savings account is designed to help you manage your earnings in INR while you are based abroad. It is the ideal choice for those who have some form of income in India while overseas, such as a rental property, mutual fund dividends, pension, fixed deposits, or any other similar sources in India.
Features of the NRO Account:

Foreign currency that is deposited in the NRO account is converted to INR as per prevailing forex rates. You can withdraw only in INR. All withdrawals are made in INR only

It can be maintained as a savings account or deposits

DBS Treasures offers high interest rates of up to 3.5% p.a. on NRO savings account

Interest income is subject to deduction of tax at source in India

Frequently Asked Questions

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nri savings account online for indians in usa

# data[].attributes.attachment_link.title
Open NRI Savings Account Online for Indians in USA

# data[].attributes.attachment_link.description
NRI savings accounts allow NRIs to deposit income earned abroad and in India while they work overseas. These accounts are of two types, NRE or NRO accounts. Each has its purpose and every NRI has to have both. DBS Treasures NRI savings accounts are one-stop solutions for citizens of India.

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Open NRI Account Online in UAE with DBS Treasures

# data[].attributes.subject
Open NRI Account Online in UAE with DBS Treasures

# data[].attributes.body
NRI savings accounts are one-stop solutions for the Indians working in UAE. Choose from NRE, NRO and FCNR accounts as per your needs. Open NRI Account Online in UAE with DBS Treasures.

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At a Glance

NRI savings accounts allow NRIs to deposit income earned abroad as well as in India while they work overseas. These accounts are of two types, NRE or NRO accounts. Each has its own purpose and every NRI can choose to have both.

DBS Treasures NRI savings accounts are one-stop solutions for the global Indian working abroad. If you open an NRI saving account with DBS Treasures, you get a competitive interest rate and many more exclusive benefits.

Features and Benefits

With a DBS Treasures NRI Savings Account, you will have the below features and benefits.

Easy to open: Opening an NRI savings account at DBS Treasures is easy, contactless and can be done remotely.

FCNR deposit: At DBS Treasures, you have the advantage of booking foreign currency deposits which allows you to save money in a foreign currency. The best part? You can earn interest in the currency of your choice.

Tax benefits: Interest earned in an NRE account is exempt from Indian income tax while interest earned in an NRO account is subject to TDS as per Indian income tax regulations.

Through DBS Treasures you can open one or both types of NRI savings account

NRE Savings Account

With DBS Treasures Non-Resident External (NRE) savings account, you can deposit your foreign earnings from your country of residence and withdraw it in Indian Rupees. Funds in this account are fully repatriable
Features of the NRE Account:

Funds can be maintained in a savings account or in deposits

Interest earned in an NRE account is exempt from Indian income tax

DBS Treasures offers high interest rates of up to 3.5% p.a. on NRE Savings Account

Funds maintained in NRE savings account and deposits are wholly repatriable

NRO Savings Account

A DBS Treasures Non-Resident Ordinary (NRO) savings account is designed to help you manage your Indian rupee earnings while you are based abroad. It is the ideal choice for those who have some form of income in India while they are overseas such as a rental property, mutual fund dividends, pension, fixed deposits or any other similar sources in India.
Features of the NRO Account:

Foreign currency that is deposited in the NRO account is converted to INR as per prevailing forex rates. You can withdraw only in INR

Funds can be maintained in a savings account or in deposits

DBS Treasures offers high interest rates of up to 3.5% p.a. on NRO savings account

Interest income is subject to deduction of tax at source

Frequently Asked Questions

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nri savings account online for indians in uae dubai

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Open NRI Savings Account Online for Indians in UAE Dubai

# data[].attributes.attachment_link.description
NRI savings accounts allow NRIs to deposit income earned abroad as well as in India while they work overseas. These accounts are of two types, NRE or NRO accounts. Each has its own purpose and every NRI can choose to have both. DBS Treasures NRI savings accounts are one-stop solutions for the global Indian working abroad.

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Open NRI Account Online in Australia with DBS Treasures

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Open NRI Account Online in Australia with DBS Treasures

# data[].attributes.body
NRI savings accounts are one-stop solutions for the Indians working in Australia. Choose from NRE, NRO and FCNR accounts as per your needs. Open NRI Account Online in Australia with DBS Treasures.

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Open NRI Savings Account Online for Indians in Australia

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Stay connected to India while you are overseas, with an NRI Savings account

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Open NRI Account Online in Singapore with DBS Treasures

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Open NRI Account Online in Singapore with DBS Treasures

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NRI savings accounts are one-stop solutions for the Indians working in Singapore. Choose from NRE, NRO and FCNR accounts as per your needs. Open NRI Account Online in Singapore with DBS Treasures.

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Open NRI Savings Account Online for Indians in Singapore

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Stay connected to India while you are overseas, with an NRI Savings account

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Convert GBP to INR quickly with DBS Treasures Currency Converter

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Convert GBP to INR quickly with DBS Treasures Currency Converter

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Convert GBP to INR with the help of DBS Treasures free Currency Converter. Transfer money from UK to India instantly with DBS Treasures at competitive conversion rates for NRIs staying across UK.

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GBP to INR: Convert British Pound to Indian Rupee Online | DBS Treasures

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The best time to send money to your loved ones in India is when the GBP is at its strongest. That way, you can get more Indian rupees for your funds. If you consider repatriation back to your account in the UK, then it is favourable to pick a time when INR is at its strongest.

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Convert EURO to INR quickly with DBS Treasures Currency Converter

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Convert EURO to INR quickly with DBS Treasures Currency Converter

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Convert 1 Euro to INR with the help of DBS Treasures free Currency Converter. Transfer money from Euro to India instantly with DBS Treasures at competitive conversion rates for NRIs staying across Europe.

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Euro to INR: Convert Euro to Indian Rupee Online | DBS Treasures

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Are you an NRI living in Europe? Do you want to save Euros and convert them to INR when you return to India? With our online currency converter, you can easily calculate the final value that you will receive before you convert EUR to INR.

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Convert AUD to INR quickly with DBS Treasures Currency Converter

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Convert AUD to INR quickly with DBS Treasures Currency Converter

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Convert 1 Australian Dollar to Indian Rupee with the help of DBS Treasures free Currency Converter. Transfer money from Australia to India instantly with DBS Treasures at competitive conversion rates for NRIs staying across Australia.

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AUD to INR: Australian Dollar to Indian Rupee Online | DBS Treasures

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The best time to convert your AUD to INR is when AUD is at its strongest i.e. you get the most INR for your funds. This way, your beneficiary in India can receive a higher INR amount.

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Convert SGD to INR quickly with DBS Treasures Currency Converter

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Convert SGD to INR quickly with DBS Treasures Currency Converter

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Convert 1 SGD to INR with the help of DBS Treasures free Currency Converter. Transfer money from Singapore to India instantly with DBS Treasures at competitive conversion rates for NRIs staying across Singapore.

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1 SGD to INR: Singapore Dollar to Indian Rupee | DBS Treasures

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The best time to send money to your loved ones in India is when the SGD is at its strongest so that you can get more Indian rupees for your funds. If you are considering repatriation back to your account in Singapore, then a time when INR is at its strongest is more favourable.

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Convert USD to INR quickly with DBS Treasures Currency Converter

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Convert USD to INR quickly with DBS Treasures Currency Converter

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Convert Dollar to Rupee with the help of DBS Treasures free Currency Converter. Transfer money from US to India instantly with DBS Treasures at competitive conversion rates for NRIs staying across the US.

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USD to INR: Convert Dollar to INR Online | DBS Treasures

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The best time to send money to your loved ones in India is when the USD is at its strongest, so that you can get more Indian rupees for your funds. If you are considering repatriation back to your account in USA, then a time when INR is at its strongest is more favourable.

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There are many quick and easy money transfer options available without any limits to credit your NRE account in India from USA. Refer the detailed guide to transfer money online from USA to India seamlessly with DBS Treasures.

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Transfer Money From USA to India with Ease | DBS Treasures

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Effortlessly send money from USA to India with DBS Treasures. Enjoy seamless international transfers, competitive exchange rates, and secure transactions for all your financial needs.

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How to transfer money from Australia to India

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How to transfer money from Australia to India

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Sending money to an NRE account is one of the easiest ways to manage your expenses in India. DBS Treasures NRE account provides NRIs with a convenient way to send money from Australia to India.

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How to transfer money from Dubai to India

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How to transfer money from Dubai to India

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An NRE account allows NRIs to remit money to India and repatriate the same back to their resident country any time they wish. Refer the detailed guide from DBS Treasures to transfer money online from Dubai to India seamlessly.

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Send Money from Dubai to India with Ease | DBS Treasures

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Money Transfer from Dubai to India: Safely send money to India from Dubai with DBS Treasures. ✓Seamless International Transfers ✓Competitive Exchange Rates ✓Speedy Credit Service

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How to transfer money from Singapore to India

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How to transfer money from Singapore to India

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NRE account enables you to send as much money as you like from Singapore to India quickly and conveniently. Know more on the best way to send money to India from Singapore with DBS Treasures.

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At a Glance

Singapore is a land of outstanding opportunities and home to thousands of Non-Resident Indians. As an NRI living in Singapore, one of the most efficient ways of managing your expenses and investments in India is with an NRE account. An NRE account enables you to send as much money as you like from Singapore to India quickly and conveniently.

You can use the money in an NRE account for a wide range of purposes - be it for paying school fees, investing in Indian securities, buying property, supporting family expense, shopping or settling monthly bills.

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Send Money from Singapore to India with Ease | DBS Treasures

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Money Transfer from Singapore to India: Safely send money to India from Singapore with DBS Treasures. ✓Seamless International Transfers ✓Competitive Exchange Rates ✓Speedy Credit Service

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Avail Foreign Currency Cheque facility at DBS Treasures

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Avail Foreign Currency Cheque facility at DBS Treasures

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You can deposit a foreign currency cheque in an account you hold with an Indian bank and get it converted to rupees. Avail Foreign Currency Cheque facility and know more about it with DBS Treasures!

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At a Glance

A foreign currency cheque is simply a cheque that is denominated in a currency other than Indian rupees. These cheques are typically payable by banks in foreign countries (for example, a dollar-denominated cheque is payable by a bank in the US). But you can deposit a foreign currency cheque in an account you hold with an Indian bank and get it converted to rupees.

There are many types of foreign currency cheques, including demand drafts, cashier's cheques, traveller's cheques, etc.

If you are a beneficiary of a foreign currency cheque, you must deposit it in your account; your bank's foreign currency cheque collection service will process it (by sending it to the bank of origin for realisation) and credit the Indian rupee amount to your account.

The foreign currency cheque is frequently used by people residing outside India (NRIs, for example) as an alternative to wire transfers. Visitors to India sometimes carry traveller's cheques.

The final rupee amount that is credited into a beneficiary's account is based on the exchange rate on the date of the credit. Banks charge processing fees for the foreign currency cheque collection service, and the fees are subtracted from the final amount deposited into the beneficiary's account.
Open an NRI Savings Account
Features and Benefits

Foreign currency cheques allow you to receive money in an overseas currency in India. If you are an NRI travelling to India, you can carry a foreign currency cheque and convert it to rupees at an Indian bank.

Your foreign currency amount will be converted at the exchange rate prevalent when the funds are deposited into your account.

A foreign currency cheque offers more security than cash. If you lose a foreign currency cheque, you can immediately stop payment on it.

Frequently Asked Questions

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Foreign Currency Cheque: Send Money to India | DBS Treasures

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A foreign currency cheque is simply a cheque that is denominated in a currency other than Indian rupees. These cheques are typically payable by banks in foreign countries (for example, a dollar-denominated cheque is payable by a bank in the US).

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Send Money to India by Demand Draft with DBS Treasures

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Send Money to India by Demand Draft with DBS Treasures

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DBS Treasures offers many avenues to remit money to India, one being the foreign currency demand draft. Read more about foreign currency dd and benefits in detail.

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At a Glance

When you stay away from your home country, your responsibilities do tend to increase. One such responsibility each NRI has is to send money to his or her loved ones back home in India. There are several methods, and the most common is through foreign currency demand drafts. Demand drafts (DD) need to be drawn in favour of your beneficiary or recipient. Foreign currency demand drafts can be used to make different kinds of payments.

Features & Benefits

Banks in India offer facilities to remit money to India through demand drafts. A foreign currency DD has several benefits. Here they are:

It is a low-cost option, though you do have to pay a fixed fee and applicable service tax, both are minimal

These cannot be misused because the beneficiary's details have to be mentioned

Foreign currency demand drafts can be issued in various currencies like USD, GBP, EUR, AUD, SGD, and so on

If your bank has arrangements with a large number of corresponding banks across the globe, the process becomes easier

These drafts can be drawn up to any amount as per the Foreign Exchange Management Act ( FEMA) rules

Process/Time to transfer

Here's an outline of the process and time for sending money through a foreign currency DD:

You can download the demand draft request form (Payment Application Form) by clicking here

A typical request form will ask you for the following information:

Name of the recipient

Name of the sender

Amount to be transferred

The location where the transferred money needs to be paid

Mode in which transferred amount needs to be paid. It could either be in cash for though bank account

Mode in which you will pay money to the bank. It could be in either cash or cheque

If a demand draft is lost, one can request for a duplicate

Time taken for the money to be remitted is generally between 7-28 days

How to Apply

Locate us Visit us at your nearest DBS branch
Call 1860 267 1234 / 1800 209 4555 / +91 44 6685 4555
Frequently Asked Questions

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Foreign Currency Demand Draft (DD) Fund Transfer Online

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When you stay away from your home country, your responsibilities do tend to increase. One such responsibility each NRI has is to send money to his or her loved ones back home in India. There are several methods, and the most common is through foreign currency demand drafts.

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Send Money to India by Telegraphic Transfer with DBS Treasures

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Send Money to India by Telegraphic Transfer with DBS Treasures

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Make fund transfers to India quickly within four working days at an attractive exchange rate by Telegraphic Transfer with DBS Treasures.

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Send money to India through telegraphic fund transfers

At a Glance

An electronic funds transfer is the most convenient method of transferring funds overseas. Also referred to as telegraphic transfer or telex transfer, such transfers happen through Society for Worldwide Interbank Financial Telecommunication (SWIFT) messaging network. SWIFT transfer network is used to send information through the banking system. Information regarding transfer of funds is submitted through this network.

Features and Benefits

International transfer through this mode offers attractive exchange rates.

It is a trusted, reliable way of sending funds to India. The transfer happens within 1-4 working days.

Telegraphic fund transfers are a secure way to send money.

How does it work?

1. Log on to your online banking account. If you cannot do it online visit your nearest bank branch.

2. Check the cost and the charges. There would be currency conversion fees and service taxes. Check the currency conversion rates.

3. Fill up all the necessary information in the transfer form. This way, you give required wire transfer information to the bank.

4. The money is deducted from the account of the sender (correspondent bank) and credited to the account of the beneficiary (in a bank in India).

How to Apply

Locate us Visit us at your nearest DBS branch

Call 1860 267 1234 / 1800 209 4555 / +91 44 6685 4555

Frequently Asked Questions

Your name, address and bank account number

The currency of payment and payment amount

Name of the beneficiary

Beneficiary bank name and address with branch name

Beneficiary's bank account number

The SWIFT code of beneficiary's bank

Details of intermediary banks, if any are involved

Purpose of payment

Your name, address and bank account number

The currency of payment and payment amount

Name of the beneficiary

Beneficiary bank name and address with branch name

Beneficiary's bank account number

The SWIFT code of beneficiary's bank

Details of intermediary banks, if any are involved

Purpose of payment

Thank you. Your feedback will help us serve you better.

Was this information useful ?

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Telegraphic Transfer - TT Transfer | DBS Treasures

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Send money to India through telegraphic fund transfers An electronic funds transfer is the most convenient method of transferring funds overseas. Also referred to as telegraphic transfer or telex transfer, such transfers happen through Society for Worldwide Interbank Financial Telecommunication (SWIFT) messaging network. SWIFT transfer network is used to send information through the banking system.

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Send Money to India by Wire Transfer with DBS Treasures

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Send Money to India by Wire Transfer with DBS Treasures

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Wire transfer is a safe and secure means of sending money to friends or family in India. Learn more about transferring money to India via wire transfer with DBS Treasures.

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At a Glance

A wire transfer is an electronic mode of sending money from one account to another, in any part of the world. So, if you are working abroad and want to send money to friends or family back home, you can opt for it.

An international wire transfer is fast, secure and convenient. It works both ways - you can send and receive funds from India. You can also wire funds towards investments, your home loan by providing required details. Your bank may charge a fee to process your wire request.

Features and Benefits

A wire transfer is the traditional, trusted way to remit funds to India. It takes one or two days for the funds to be credited in the recipient's account.

It is a simple process of issuing an instruction to your local bank.

DBS Treasures allows international wire transfers in 19 foreign currencies through its network of correspondent banks across the world.

You can transfer funds to open FCNR fixed deposits, make investments and home loans.

How does wire transfer work?

To make a transfer you should make sure you have the correct account number, address, email ID and contact number of the recipient. You should also have the SWIFT Code of the correspondent bank.

Society for Worldwide Interbank Financial Telecommunication (SWIFT) is a network of banks and financial institutions around the globe that ensures secure banking transactions such as sending and receiving funds. The SWIFT Codes of your bank as well as the recipient's are essential to make a wire transfer.

Here's how you can wire money to India:

You have to instruct your local bank by providing request form for initiating an overseas funds transfer.

Fill in the details like beneficiary bank name, address and account number, IFSC Code, beneficiary email ID and contact number as well as the purpose of payment in the form.

Mention the SWIFT codes of your local bank as well as the beneficiary bank.

Submit the form with your local bank.

Funds will be transferred from your account to the beneficiary's account in one or two working days.

How to Apply

Locate us Visit us at your nearest DBS branch
Call 1860 267 1234 / 1800 209 4555 / +91 44 6685 4555
Frequently Asked Questions

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International Wire Transfer to India Facility |DBS Treasures

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A wire transfer is an electronic mode of sending money from one account to another, in any part of the world. So, if you are working abroad and want to send money to friends or family back home, you can opt for it. An international wire transfer is fast, secure and convenient.

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Remit money to India easily with DBS Treasures

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Remit money to India easily with DBS Treasures

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Remit money to India easily at attractive rates with DBS Treasures and get exclusive benefits such as preferential exchange rates, no service charges, speedy credit, SMS and Email Notification.

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Home Loan for NRIs in India: Detailed Guide

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Home Loan for NRIs in India: Detailed Guide

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Purchase your dream home in major Indian cities effortlessly with a DBS Treasures NRI home loan and get more exclusive benefits. Get attractive interest rates and loan approval even before a property is selected.

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NRI Home Loan - Apply for NRI Housing Loan | DBS Treasures

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DBS Treasures Home loans for NRIs help you make your dream come true of buying a new house or investing in a dream residence. Check your eligibility and apply for NRI Home loan with DBS now!

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Best FCNR Interest Rates by DBS Treasures

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Best FCNR Interest Rates by DBS Treasures

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With DBS Treasures, take advantage of competitive FCNR rates and grow your investments. Read on to know more in detail about FCNR Interest Rates.

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At a Glance

As Global Indians, one option you have when it comes to depositing your money is through a Foreign Currency Non-Repatriable (FCNR) account. DBS Treasures' FCNR Account is a convenient way of depositing this money, as the interest you earn is tax-free in India.

Furthermore, FCNR deposits in India offer a higher interest rates when compared with other countries.

To open FCNR deposit account, click here.

Features and Benefits

Tenures ranging from 1 to 5 years

Competitive interest rates

You can deposit in nine currencies

No minimum deposit amount

Interest earned exempt from income tax

Easy to open

FCNR Interest Rates
Interest Rate w.e.f. 1st September 2020
Deposits Terms and Conditions:

The Bank shall, on written request from all depositors, allow withdrawal of a Resident / NRO Term deposits and NRE / FCNR Deposits prior to the date of its maturity. The interest on prematurely withdrawn Resident / NRO Term Deposits and NRE / FCNR deposits will be paid for the period that such deposit is held, at the rate prevailing on the date of placement of such deposit or the contracted rate, whichever is lower, subject to a deduction of a 1% penalty.

However, no interest will be paid in case of NRE / FCNR Deposits prematurely withdrawn before the expiry of 1 (one) year from the date of deposit or its renewal.

Please note that pre-closure charges of 1% will be applicable on all Term Deposits booked / renewed on or after 15th April 2019.

For detailed terms and conditions click here.

Documents Required

Here are some of the documents needed to open FCNR deposits:

For NRI (Non Resident Indian)

Copy of valid passport (pages with your name, address, date of birth, date and place of issue, expiry date, photograph, address, signature, immigration stamp and visa pages if any)

Proof of NRI status, by way of valid Employment / Residence Visa copy or Work / Residence Permit

Proof of Overseas and Indian Address (as per Customer Identification Policy)

Copy of Indian PAN card or Form 60

Recent passport size colour photograph

For Seafarer: Current work contract and copy of CDC along with last page of disembarkation stamp & FEMA declaration is required confirming NR status

For PIO (Person of Indian Origin)

Copy of valid passport (pages with your name, address, date of birth, date and place of issue, expiry date, photograph, signature and observation page, if any)

Copy of valid PIO/OCI card or any other proof of PIO status (as per Customer Identification Policy)

Proof of Overseas and Indian Address (as per Customer Identification Policy)

Duly signed and filled-in PIO declaration

Copy of Indian PAN Card or Form 60

Recent passport size colour photograph

How to Apply

Apply Now A Relationship Manager will reach out to you shortly

Frequently Asked Questions

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FCNR Deposit Rates - Get FCNR Interest Rates in India

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As Global Indians, one option you have when it comes to depositing your money is through a Foreign Currency Non-Repatriable (FCNR) account. DBS Treasures' FCNR Account is a convenient way of depositing this money, as the interest you earn is tax-free in India.

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Get exclusive benefits and competitive NRI FD Interest rates on opening an NRI Fixed Deposit account online with DBS Treasures. Read on to know more in detail about attractive NRI FD Interest Rates.

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At a Glance

DBS Treasures allows Non-Resident Indians to open NRI accounts and invest their money through fixed deposits at competitive interest rates.

The interest rates are different for each type of term deposit account i.e. NRE, NRO and FCNR accounts. For FCNR deposits, the rate of interest also varies based on the currency the account is held in.

Opening a fixed deposit is beneficial for NRIs since it allows for:

Secure investments

A convenient way to deposit and save money earned in India via NRO fixed deposits

A safer way to grow your overseas earnings via NRE and FCNR fixed deposits

High returns

Types of fixed deposits

NRE Fixed Deposit

DBS Treasures NRE fixed deposit accounts enable you to earn competitive interest on your foreign currency earnings. DBS Treasures NRE fixed deposits are fully repatriable. Moreover, interest earned on NRE deposits is tax-free in India.

NRO Fixed Deposit

DBS Treasures NRO fixed deposit accounts allow for higher interest earnings on income earned in India while you are overseas. DBS Treasures NRO fixed deposits can be opened jointly with resident or non-resident Indians.

FCNR Deposit

When you are abroad and earning in foreign currency, you may still want to retain some of your funds in India. Your best option could be a Foreign Currency Non-Resident Fixed Deposit, commonly known as FCNR deposit. Deposit funds in foreign currencies and earn higher interest rates with an FCNR FD.

Interest Rates

NRE Fixed Deposits
Rates w.e.f. 7th November, 2020
NRO Fixed Deposits
Rates w.e.f. 2nd December 2020
FCNR Deposits
Interest Rate w.e.f 1st January, 2021
Deposits Terms and Conditions:

The Bank shall, on written request from all depositors, allow withdrawal of a Resident / NRO Term deposits and NRE / FCNR Deposits before the date of its maturity. The interest on prematurely withdrawn Resident/NRO Term Deposits and NRE / FCNR deposits will be paid for the period that such deposit is held, at the rate prevailing on the date of placement of such deposit or the contracted rate, whichever is lower, subject to a deduction of a 1% penalty.

However, no interest will be paid in case of NRE / FCNR Deposits prematurely withdrawn before the expiry of 1 (one) year from the date of deposit or its renewal.

Please note that pre-closure charges of 1% will be applicable on all Term Deposits booked / renewed on or after 15th April 2019.

For detail terms and conditions click here.

How to Apply

Apply Now A Relationship Manager will reach out to you shortly.

Frequently Asked Questions

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NRI Fixed Deposit (FD) Interest Rates Online | DBS Treasures

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DBS Treasures allows Non-Resident Indians to open NRI accounts and invest their money through fixed deposits at competitive interest rates. The interest rates are different for each type of term deposit account i.e. NRE, NRO and FCNR accounts. For FCNR deposits, the rate of interest also varies based on the currency the account is held in.

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Open FCNR Fixed Deposit Account Online with DBS Treasures

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Open FCNR Fixed Deposit Account Online with DBS Treasures

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Open FCNR Fixed Deposit Account Online with DBS Treasures and enjoy exclusive benefits such as highly competitive interest rates, tax-free income, no minimum deposit amount and many more. Apply Now!

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At a Glance
Use your foreign currency to open FCNR deposits in India and earn higher rates of interest
When you are abroad and earning in foreign currency, but still want to remit your funds to India, one of the best option could be a Foreign Currency Non-Resident Fixed Deposit, commonly known as FCNR deposit . Deposit funds in foreign currency and earn competitive high interest rates at the same time with an FCNR FD.

Features & Benefits

Maintain your deposit in any of these nine currencies: USD, GBP, EUR, JPY, AUD, CAD, CHF SGD and HKD

Avail tenures ranging from 1 to 5 years

No minimum deposit amount

Deposit amount and interest earned are fully repatriable in NRE account

Interest earned on FCNR account is exempted from income tax and makes it tax efficient

Benefit from the higher interest prevailing in India

Internet banking facility, offering you 24-hour access to your account while ensuring the highest level of security and ease of transactions.

Mobile banking on the go from anywhere in the world.

Bank at any of our branches when you visit India using our inter-city banking facility

Click here to view the FCNR Interest Rates

Eligibility Criteria

Following individuals are eligible to open an FCNR deposit.

NRI (Non Resident Indian)

PIO (The Person of Indian origin) / OCI (Overseas Citizen of India)

Documents Required

For NRI (Non Resident Indian)

Copy of valid passport (pages with your name, address, date of birth, date and place of issue, expiry date, photograph, address, signature and observation page, if any)

Proof of NRI status, by way of valid Employment/Residence Visa copy or Work / Residence Permit

Proof of Overseas and Indian Address (as per Customer Identification Policy)

Copy of Indian PAN card or Form 60

Recent passport size colour photograph

For PIO (Person of Indian Origin)

Copy of valid passport (pages with your name, address, date of birth, date and place of issue, expiry date, photograph, signature and observation page, if any)

Copy of valid PIO/OCI card or any other proof of PIO status (as per Customer Identification Policy)

Proof of Overseas and Indian Address (as per Customer Identification Policy)

Duly signed and filled-in PIO declaration

Copy of Indian PAN Card or Form 60

Recent passport size colour photograph

How to Apply

A Relationship Manager will reach out to you

Locate us Visit us at your nearest DBS branch

Call 1860 267 1234 / 1800 209 4555 / +91 44 6685 4555

Frequently Asked Questions

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FCNR Deposit: Open FCNR Fixed Deposit Account by DBS Treasur

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Use your foreign currency to open FCNR deposits in India and earn higher rates of interest When you are abroad and earning in foreign currency, but still want to remit your funds to India, one of the best option could be a Foreign Currency Non-Resident Fixed Deposit, commonly known as FCNR deposit .

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Open NRO Fixed Deposit Online with DBS Treasures

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Open NRO Fixed Deposit Online with DBS Treasures

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Open an NRO Fixed Deposit account online with DBS Treasures and earn competitive rates on Indian Income. Also, the account can be opened jointly with resident and non-resident Indians. Apply Now!

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At a Glance

Grow your savings with DBS Treasures NRO Fixed Deposits. Earn competitive interest rates on your Indian income.

DBS Treasures NRO fixed deposit accounts allows you to earn good interest on your income sources in India. DBS Treasures NRO fixed deposits can be opened jointly with resident or non-resident Indians.

Features and Benefits

DBS Treasures Non Resident Ordinary account fixed deposit is ideal for you if you are an NRI but have sources of regular income in India such a rental property, general fixed deposits, pension, mutual fund dividends etc.

Interest earned on NRO account deposits is taxable as per the Income Tax Act of 1961

While the principal amount is not fully repatriable, you can transfer the entire interest earned on the deposit to a foreign currency

NRO fixed deposit account holders can open the FD jointly with non-resident or resident Indian citizens

You can earn higher interest rates and returns on rupee income

Interest Rates
Rates w.e.f. 2nd September 2020
Simple Interest rate will be paid on fixed deposits below 6 months. For fixed deposits of 6 months or above, interest will be compounded quarterly.

For more information click here.

Eligibility Criteria

Only Non-Resident individuals of Indian nationality or of Indian origin can apply

Documents Required

Copy of valid passport (pages with your name, address, date of birth, date and place of issue, expiry date, photograph, address, signature, immigration stamp and visa pages if any)

Proof of NRI status, by way of valid Employment/Residence Visa copy or Work / Residence Permit

Proof of Overseas and Indian Address (as per Customer Identification Policy)

Copy of Indian PAN card or Form 60

Recent passport size colour photograph

For Seafarer: Current work contract and copy of CDC along with last page of disembarkation stamp & FEMA declaration is required confirming NR status

For PIO (Person of Indian Origin)

Copy of valid passport (pages with your name, address, date of birth, date and place of issue, expiry date, photograph, address, signature and observation page, if any)

Copy of valid PIO/OCI card or any other proof of PIO status as per Customer Identification Policy

Proof of Overseas and Indian Address (as per Customer Identification Policy)

Duly signed and filled-in PIO declaration

Recent passport size colour photograph

Once DBS NRO Savings account is opened basis above documents, NRO fixed deposit can be booked online through DBS Mobile / Internet Banking Platform. You may also choose to submit an FD request form at the nearest DBS branch.

How to Apply

Apply Now A Relationship Manager will reach out to you shortly

Frequently Asked Questions

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NRO Fixed Deposits - Open NRO FD Account Online

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Grow your savings with DBS Treasures NRO Fixed Deposits. Earn competitive interest rates on your Indian income. DBS Treasures NRO fixed deposit accounts allows you to earn good interest on your income sources in India. DBS Treasures NRO fixed deposits can be opened jointly with resident or non-resident Indians.

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Open NRE Fixed Deposit Online with DBS Treasures

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Open NRE Fixed Deposit Online with DBS Treasures

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Enjoy exclusive benefits such as principal and interest earned are tax-free, competitive interest rates, and many more by opening an NRE Fixed Deposit account today with DBS Treasures.

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At a Glance

Park your foreign currency savings and earn high, tax-free interest rates on your DBS Treasures NRE Fixed Deposit account.

DBS Treasures NRE fixed deposit accounts enable you to earn high interest from your foreign currency earnings. DBS Treasures NRE fixed deposits are fully repatriable. Moreover, interest earned on NRE deposits is tax-free in India.

Features and Benefits

Both principal and the interest earned on the fixed deposit is tax-free in India

You can freely and fully repatriate the principal amount and interest earned to your country of residence

You get competitive interest rates on your fixed deposits

You can hold the NRE FD jointly with more than one non-resident Indian

FDs can be opened for flexible tenures lasting from one year to 10 years

You can renew your NRE fixed deposit online in a hassle-free manner

You can assign a nominee on your NRE fixed deposit

Interest Rates

Rates w.e.f. 27th July 2020
For interest rates on FDs of INR 2 Crore and above, please contact your Relationship Manager or nearest branch.
For more information click here.

Eligibility Criteria

Only Non-Resident individuals of Indian nationality or of Indian origin can apply.

Documents Required

Copy of valid passport (pages with your name, address, date of birth, date and place of issue, expiry date, photograph, address, signature, immigration stamp and visa pages if any)

Proof of NRI status, by way of valid Employment/Residence Visa copy or Work / Residence Permit

Proof of Overseas and Indian Address (as per Customer Identification Policy)

Copy of Indian PAN card or Form 60

Recent passport size colour photograph

For Seafarer: Current work contract and copy of CDC along with last page of disembarkation stamp & FEMA declaration is required confirming NR status

For PIO (Person of Indian Origin)

Copy of valid passport (pages with your name, address, date of birth, date and place of issue, expiry date, photograph, address, signature and observation page, if any)

Copy of valid PIO/OCI card or any other proof of PIO status as per Customer Identification Policy

Proof of Overseas and Indian Address (as per Customer Identification Policy)

Duly signed and filled-in PIO declaration

Recent passport size colour photograph

Once DBS NRE Savings account is opened basis above documents, NRE fixed deposit can be booked online through DBS Mobile / Internet Banking Platform. You may also choose to submit an FD request form at the nearest DBS branch.

How to Apply

Apply Now A Relationship Manager will reach out to you shortly

Frequently Asked Questions

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NRE Fixed Deposits - Open NRE FD Account Online

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NRE Fixed Deposits - DBS Treasures NRE fixed deposit (FD) accounts enable you to earn high interest from your foreign currency earnings. Open for NRE Fixed Deposits to enjoy the benefits of freely and fully repatriation principal amount at DBS Treasures.

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Open NRI Fixed Deposit Online with DBS Treasures

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Open NRI Fixed Deposit Online with DBS Treasures

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Open NRI Fixed Deposit Account online with DBS Treasures and get 4.50%* interest p.a and exclusive benefits such as offers multiple avenues to invest money, 100% exempt from tax, and many more. Apply Now!

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At a Glance

DBS Bank has Fixed Deposit Options for the Global Indian through which they can save money. Non-resident Indians have several Fixed Deposit Options to choose from, and DBS Bank has the following options:

NRE Fixed Deposit:

DBS Treasures NRE fixed deposit accounts enable you to earn high interest from your foreign currency earnings. DBS Treasures NRE fixed deposits are fully repatriable. Moreover, interest earned on NRE deposits is tax-free in India.

NRO Fixed Deposits:

You can grow your savings with DBS Treasures' NRO Fixed Deposits, through which you can earn competitive interest rates on your Indian Income. DBS Treasures NRO fixed deposits can be opened jointly with resident or non-resident Indians.

FCNR:

When you are abroad and earning in foreign currency, but still want to keep some of your funds in India, your best option could be a Foreign Currency Non-Resident Fixed Deposit, commonly known as FCNR deposit or FCNR account. Deposit funds in foreign currency and earn high interest rates at the same time with an FCNR FD.

Advantages of DBS Bank's NRI FD Account

Investment safe and secure

Ideal way to deposit and save money that is earned abroad

Certain FDs are exempt from tax

Nomination option allowed

High returns

Opening an NRI FD account

Depending on the type of FD, you can open DBS Bank's NRI FD either online or offline. All you need is to submit the right set of documents and open the account.

How to Apply

Apply Now A Relationship Manager will reach out to you shortly

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NRI Fixed Deposits - Fixed Deposit Account in India

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DBS Bank has Fixed Deposit Options for the Global Indian through which they can save money. Non-resident Indians have several Fixed Deposit Options to choose from, and DBS Bank has the following options: DBS Treasures NRE fixed deposit accounts enable you to earn high interest from your foreign currency earnings.

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NRI Savings Account Interest Rates by DBS Treasures

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NRI Savings Account Interest Rates by DBS Treasures

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Get competitive NRI account interest rates on opening NRI savings account online with DBS Treasures. Know more in detail about NRE and NRO Savings Account Interest Rates.

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NRI Savings Account Interest Rates

At a Glance

There are many advantages to opening an account with DBS Treasures. You get competitive NRI account interest rates and over 40 privileges to choose from with an NRI savings account with DBS Treasures. Our NRE and NRO accounts have a host of features and they also offer preferential rates on remittances.

Interest will be paid at quarterly rests or on any other rests as the Bank may decide from time to time.

Interest will be calculated on daily available balance or as required by the regulator or as a result of banks own decision.

Rate of interest on Savings is subject to change from time to time at the discretion of the Bank and/or in accordance with directives from RBI.

For senior citizens, above rates would apply.

For Basic Savings Bank Deposit Account, above domestic rates would apply.

How to Apply

Apply Now A Relationship Manager will reach out to you shortly

Frequently Asked Questions

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NRI Account Interest Rates: NRE / NRO Savings Account Rates

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NRI Savings Account Interest Rates There are many advantages to opening an account with DBS Treasures. You get competitive NRI account interest rates and over 40 privileges to choose from with an NRI savings account with DBS Treasures. Our NRE and NRO accounts have a host of features and they also offer preferential rates on remittances.

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Open NRO Savings Account Online with DBS Treasures

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Open NRO Savings Account Online with DBS Treasures

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Open an NRO account with DBS Treasures and manage it online from anywhere across the world with several unmatched privileges. You can also repatriate up to USD 1 million in a financial year. Apply Now!

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At a Glance

Deposit income earned in India in DBS Treasures Non-Resident Ordinary (NRO) Rupee Account and repatriate abroad up to USD 1 Million a year.

If you are living abroad and have sources of income in India, you definitely need a DBS Treasures Global Indian Non-Resident Ordinary Rupee account. This account is designed to help Global Indians manage their earnings in Indian rupees while they are based abroad. It is the ideal choice for you to park income earned from rental property, mutual fund dividends, pension, fixed deposits and similar other sources in India.

Funds in other currencies deposited into this account are auto-converted into INR. You can manage your NRO account online from any corner of the world, but funds can only be withdrawn in India.

Features and Benefits

NRO accounts are savings accounts in which funds are maintained only in Indian rupees, or INR

Foreign currencies deposited into NRO accounts are auto-converted into INR at prevailing foreign exchange rates

You cannot repatriate more than USD 1 million (taxes included) in a financial year from your NRO account

You get debit cards with the NRO account

Earn high interest rates of up to 5% per annum on savings parked in the account

NRO accounts can be opened as joint accounts with resident Indians

NRO accounts are ideal to park income earned in India from sources such as rent from property, interest earned on fixed deposits, dividends earned from mutual funds, pension income etc.

Interest earned on NRO account is taxable

Double Taxation Avoidance Agreement (DTAA)

While NRO accounts are not exempt from tax, account holders can avoid paying double taxes, thanks to the Double Taxation Avoidance Agreement (DTAA). If you are an NRI,any income that you earn in India will be taxed by the Indian government. However, you may also have to pay taxes on the same income in the country where you are living as an NRI. So, you could end up paying taxes twice on the same income. The Reserve Bank of India (RBI) has entered into a DTAA with several countries, as a result of which this payment of double taxes can be avoided.

As per the DTAA signed between India and several other countries, you only have to pay taxes once, at a rate fixed by the agreement. Therefore, if you as an NRI have earned income in India, the tax you have to pay will depend on the rates fixed in the DTAA with the country you live in.

India has entered into a DTAA with the several major countries where Indians typically live in. Here are taxes you have to pay, according to the country you live in:

Fees and Charges

Click here to view the fees and charges.

Eligibility Criteria

The following individuals are eligible to open an NRO Savings Account:

NRI (Non Resident Indian)

An Indian citizen residing outside India for the purpose of: Employment, studies, business or vocation

Individual posted in UN organisation or official deputed abroad by Government of India or public sector undertakings

Indian nationals who may be Mariners or Seafarers working on oil rigs or foreign registered airlines

PIO (Person of Indian origin) / OCI (Overseas Citizen of India)

Has held an Indian passport at any point of time

Parent or their grandparent was Citizen of India by virtue of the Constitution of India or India Citizen Act 1955

Is a spouse of an Indian Citizen or spouse of PIO

Documents Required

Copy of valid passport (pages with your name, address, date of birth, date and place of issue, expiry date, photograph, address, signature, immigration stamp and visa page, if any)

Proof of NRI status, by way of valid Employment/Residence Visa copy or Work / Residence Permit

Proof of Overseas and Indian Address (as per Customer Identification Policy)

Copy of Indian PAN card or Form 60

Recent passport size colour photograph

For Seafarer: Current work contract and copy of CDC along with last page of disembarkation stamp & FEMA declaration is required confirming NR status

For PIO (Person of Indian Origin)

Copy of valid passport (pages with your name, address, date of birth, date and place of issue, expiry date, photograph, signature and observation page, if any)

Copy of valid PIO/OCI card or any other proof of PIO status (as per Customer Identification Policy)

Proof of Overseas and Indian Address (as per Customer Identification Policy)

Duly signed and filled-in PIO declaration

Copy of Indian PAN Card or Form 60

Recent passport size colour photograph

How to Apply

Apply Now A Relationship Manager will reach out to you shortly

Frequently Asked Questions

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NRO Account: Open NRO Savings Account Online | DBS Treasures

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Deposit income earned in India in DBS Treasures Non-Resident Ordinary (NRO) Rupee Account and repatriate abroad up to USD 1 Million a year. If you are living abroad and have sources of income in India, you definitely need a DBS Treasures Global Indian Non-Resident Ordinary Rupee account.

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Open NRE Savings Account Online with DBS Treasures

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Open NRE Savings Account Online with DBS Treasures

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Open NRE Account Online with DBS Treasures and get exclusive benefits and privileges that go beyond traditional banking and maintain savings in INR at a higher rate of interest.

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At a Glance

Deposit your foreign earnings in India with DBS NRE Savings account. As a Global Indian, you may need a special bank account in which you can deposit your foreign currency earnings. With DBS Treasures Non Resident External Savings Accounts, you can deposit your funds in foreign currencies and so on and withdraw in Indian Rupees. Funds in this account can be freely repatriated any time, from anywhere in the world.

Open your NRE savings account individually or jointly with a Non-resident or resident Indian, freely transfer funds from a foreign country to India and earn competitive interest rates on your savings parked in the account. Invest online in mutual funds easily through your NRE Accounts.

Features & Benefits

Earn high interest rates of up to 5% per annum on savings parked in the account

Principal and interest amounts earned are fully and freely repatriable

Transfer money anywhere in the world easily and safely with internet banking services

Joint NRE account can be opened along with another Non-resident Indian or Person of Indian Origin (PIO) and operated on either or survivor basis.

Use your NRE account to make direct investments in India

Both principal and interest earned are tax free in India

Fees and Charges

Click here to view the fees and charges.

Eligibility Criteria

Following individuals are eligible to open an NRE Savings Account:

NRI (Non Resident Indian)

An Indian citizen residing outside India for the purpose of Employment, studies, business or vocation.

Individual posted in UN Organisation or official deputed abroad by Government of India or public sector undertakings

Indian nationals who may be Mariners or Seafarer working on oil rigs or foreign registered airlines

PIO (The Person of Indian origin) / OCI (Overseas Citizen of India)

Has held an Indian passport at any point of time

Parent or their grandparent was Citizen of India by virtue of the Constitution of India or India Citizen Act 1955

Is a spouse of an Indian Citizen or spouse of PIO

Copy of valid passport (pages with your name, address, date of birth, date and place of issue, expiry date, photograph, address, signature, immigration stamp and visa pages, if any)

Proof of NRI status, by way of valid Employment/Residence Visa copy or Work / Residence Permit

Proof of Overseas and Indian Address (as per Customer Identification Policy)

Copy of Indian PAN card or Form 60

Recent passport size colour photograph

For Seafarer: Current work contract and copy of CDC along with last page of disembarkation stamp & FEMA declaration is required confirming NR status

For PIO (Person of Indian Origin)

Copy of valid passport (pages with your name, address, date of birth, date and place of issue, expiry date, photograph, signature and observation page, if any)

Copy of valid PIO/OCI card or any other proof of PIO status (as per Customer Identification Policy)

Proof of Overseas and Indian Address (as per Customer Identification Policy)

Duly signed and filled-in PIO declaration

Copy of Indian PAN Card or Form 60

Recent passport size colour photograph

Documents Required

How to Apply

Apply Now A Relationship Manager will reach out to you shortly

Frequently Asked Questions

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NRE Accounts - Apply for NRE Savings Account Online

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Deposit your foreign earnings in India with DBS NRE Savings account. As a Global Indian, you may need a special bank account in which you can deposit your foreign currency earnings. With DBS Treasures Non Resident External Savings Accounts, you can deposit your funds in foreign currencies and so on and withdraw in Indian Rupees.

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Open NRI Account Online with DBS Treasures

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Open NRI Account Online with DBS Treasures

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NRI savings accounts are one-stop solutions for the global Indian working abroad. Choose from NRE, NRO and FCNR accounts as per your needs. Open NRI Account Online with DBS Treasures.

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Open NRI Account Online in India with DBS Treasures

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NRI Account is a one-stop solution for the Global Indian working abroad. Open NRI Account online with DBS Treasures for the income you earn abroad and India.