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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. 20th August, 2021

FromLess than INR 2 Crore
7 days2.50%
8 days & up to 14 days2.50%
15 days & up to 29 days2.50%
30 days & up to 45 days2.50%
46 days & up to 60 days2.50%
61 days & up to 90 days2.75%
91 days & up to 180 days2.75%
181 days & up to 269 days3.00%
270 days to less than 1 year3.50%
1 year to 375 days4.25%
376 days to less than 2 years4.50%
2 years & less than 2 years 6 months4.75%
2 years & 6 months4.75%
2 years 6 months 1 day & less than 3 years4.75%
3 years & less than 4 years5.50%
4 years & less than 5 years5.50%
5 years & above5.50%

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.

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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

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Frequently Asked Questions

NRO fixed deposits come with attractive interest rates, which help you earn higher returns on your investment.

You can maintain your NRO fixed deposit account in Indian rupees only.

This will depend on the type of term deposit booked. For simple and cumulative deposits, interest payment is at the time of maturity. For the quarterly pay-out type of term deposit, the interest payment frequency is quarterly.

Yes, you can break the fixed deposit before its maturity date. However, you need to maintain it for a minimum period of seven days to earn interest on it. Pre-closure charges may be levied as applicable on a case-by-case basis.

If you do not withdraw your FD upon maturity, it will be renewed automatically for the same tenure if you have already provided auto-renewal instructions. Else, the amount will be credited into your NRI account. In the case of auto renewal, the interest rate on the date of maturity would then apply to the new FD booked.

Yes, FDs can be opened jointly with other Non-Resident Indians or resident Indians. Nominees can also easily be assigned for the FD account.

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