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At a Glance

As an Indian living overseas, one option you have for investing your money intelligently in India is a Foreign Currency Non Resident (FCNR) account. DBS Treasures FCNR account is a convenient way of depositing your money and ensure that the principal amount and interest you earn are both tax-free in India.

FCNR deposits in India offer competitive interest rates and are protected against currency fluctuations as the investments are held in foreign currency.

To open an FCNR deposit account with DBS Treasures, click here.

Features and Benefits

  • Tenures ranging from 1 to 5 years
  • Competitive interest rates
  • Six currencies available
  • No minimum deposit amount
  • Interest and principal are exempt from income tax
  • Easy to open

FCNR Interest Rates

Please reach out to your RM / Branch for the latest FCNR rates.

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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 The interest on prematurely withdrawn Resident / NRO Term Deposits and NRE / FCNR deposits will be paid for the period that such deposit is held, at the rate prevailing on the date of placement of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However, no interest will be paid in case of NRE / FCNR Deposits prematurely withdrawn before the expiry of 1 (one) year from the date of deposit or its renewal.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 your passport
  • Proof of your NRI status, via valid Employment / Residence Visa copy or Work / Residence Permit
  • Address in India and overseas along with proof (as per Customer Identification Policy)
  • Your Indian PAN card or Form 60
  • A recent passport size colour photograph
  • Additionally, for Seafarers: Current work contract and a copy of CDC along with the disembarkation stamp on the last page and your FEMA declaration

For PIO (Person of Indian Origin)

  • Copy of your passport
  • Copy of your PIO/OCI card or any other proof of PIO status (as per Customer Identification Policy)
  • Your address in India and overseas with proof (as per Customer Identification Policy)
  • Duly signed and filled-in PIO declaration
  • Copy of Indian PAN Card or Form 60
  • A recent passport size colour photograph

How to Apply

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

Frequently Asked Questions

How does one deposit money into the FCNR deposit?

You can deposit money into your DBS Treasures FCNR account through your NRE account

Can I prematurely withdraw money from the FCNR FD?

While it is possible to withdraw money from your FCNR FD at any point of time, no interest is payable if the withdrawal is made before the end of the year. For more details on our terms and conditions, click here.

Is the interest rate compounded? If yes, how?

Yes, the FCNR rates allow for compounded interest on a half-yearly basis.

Can interest rates change during the tenure of the deposit?

The interest rate stays fixed during the tenure of the deposit.

Does the FCNR B account have a nomination facility?

Yes, there is a nomination facility available for all DBS Treasures account holders.