The United Kingdom is a picturesque island nation that is home to a vast community of Indian immigrants. As an NRI living in the UK, you might be looking for a safe way to invest your money in India or fulfil your financial obligations. With the DBS Treasures NRI Fixed Deposits, you can do so with utmost ease and enjoy multiple avenues to invest your money.
DBS offers various NRI Fixed Deposits with competitive interest rates on each type of deposit.
With the DBS NRE Fixed Deposit, you can earn high interest on your foreign currency earnings, parked into the Rupee-dominated NRE Account. Enjoy 100% repatriation of principal deposit and interest income back to the UK and get tax-exemptions on interest earned on the deposits in India.
The DBS Treasures NRO Fixed Deposits empowers you to deposit your income from Indian sources into an FD safely. Interest offered on NRO FDs is the same as that provided to Resident Indians. Choose your preferred investment tenures and open this NRI Fixed Deposit Account from the UK jointly, with a resident or non-resident Indian.
With the FCNR Fixed Deposit offered by DBS, you can deposit your money across six currencies and enjoy attractive interest income in the currency of deposit. Enjoy tax exemptions on the interest income and lock in the forex rates to protect your deposits from market fluctuations.
Open NRI Fixed Deposit Account from UK by submitting all necessary documents for verification as mentioned below:
With DBS Treasures, you can open an NRI FD either online or offline, depending on the type of Fixed Deposit Account you choose. You can log in to the DBS internet or mobile banking platforms and set up an NRI Fixed Deposit Account in a few clicks.
The right type of NRI fixed deposit depends on your needs. For instance, if you wish to repatriate funds back to the UK, you should consider an NRE Account. If repatriation is not your goal, an NRO FD, which offers higher interest rates, might be the better option. Lastly, if you wish to earn interest income in foreign currencies, you should choose the FCNR NRI Fixed Deposit.
Interest on all kinds of NRI FDs is not tax exempted. While you can benefit from tax exemptions on the interest income from NRE and FCNR deposits, you have to pay taxes on the interest income from NRO Fixed Deposits, as per your appliable tax slab, and depending upon the interest income earned from the FD. Remember to research the tax implications based on the interest income you earn in a financial year.
You may freely and wholly repatriate the funds – the principal and interest income earned on your NRE and FCNR FDs. As for NRO FDs, you may only repatriate the interest income and not the principal amount back to your country of residence.