- Banking
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- NRI Banking
- Treasures Private Client
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.
Keep your money working
Earn up to 3% interest p.a. on your NRI savings account
Remit funds to and from India
Get preferential rates for your remittances to India
Enjoy bespoke privileges
40+ privileges with a DBS Treasures savings account
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% 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% p.a. on NRO savings account
- Interest income is subject to deduction of tax at source
How to Apply
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Frequently Asked Questions
You can open either an NRE Savings Account or an NRO Savings Account with DBS Treasures.
DBS offers a high interest rate of up to 3% p.a. on NRO and NRE Savings Account.
If you want to deposit your foreign or Indian income as an NRI in India, you need NRI savings accounts. With DBS Treasures, you have access to 40+ privileges, preferential rates on remittance and much more.
