Canada has rapidly become a leading global destination for the significant ratio of immigrants it draws in every year. Most Indian immigrants prefer Canada over most countries for its employment opportunities and flexible immigration policies. As an NRI living in Canada, you can now manage your finances with NRI Savings Accounts and invest in NRI Fixed Deposits from Canada.
DBS Treasures NRI Fixed Deposits allow you to invest your money effectively and maximise your gains. Earn competitive interest rates on your NRI Fixed Deposit with DBS Treasures.
Maximise your savings systematically with DBS Treasures Non-Residential External(NRE) Fixed Deposits. Earn 100% tax-free and fully repatriatable interest gains on your foreign currency income with your NRE Fixed Deposit.
Investing in NRO Fixed Deposits is a great way to securely park your money from your regular sources of income in India and earn attractive interest gains on them. You can hold an NRI fixed Deposit jointly with another NRI or a Resident Indian citizen.
With DSB Treasures, you can invest your Canadian Dollars in a Foreign Currency Non-Resident (FCNR) Fixed Deposit and earn profitable interest gains in the currency of deposit. Open FCNR Deposits in six major currencies and lock in your investment to protect it against currency market fluctuations.
Open NRI Fixed Deposit Account from Canada by submitting all necessary documents for verification as mentioned below:
In addition to these documents, seafarers have to provide the following documents:
Open NRI FD Account from Canada with DBS Treasures through our online platforms like internet and mobile banking. You can also open NRI Fixed Deposit Accounts offline on your visit to India.
Interest gains from NRE and FCNR Fixed Deposits are tax-free in India. However, interest gains from NRO Fixed Deposits are taxable under the Indian Income Tax Act of 1961.
Yes. You may freely and fully repatriate the interest earnings from all types of NRI Fixed Deposits. You may also repatriate the foreign earnings parked in your NRE and FCNR Accounts and Fixed Deposits. However, as per RBI guidelines, you may not repatriate the principal deposits in NRO Accounts.
DBS Treasures revises the interest rate on FCNR Deposits from time to time. To know all details about investing in FCNR Fixed Deposits and the interest rate offered, please get in touch with your relationship manager or visit the nearest DBS Treasures Branch.