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NRE Savings Account
At a Glance
As an NRI, you can deposit your foreign currency earnings easily into NRE accounts. There is no limit on the amount you can repatriate to your country of residence. You can even withdraw from your NRE savings account in Indian Rupees.
You can choose to open your NRE savings account individually or jointly with another non-resident Indian. You can also invest online in mutual funds easily through your NRE account.
An NRE account from DBS Treasures offers a competitive interest rate on your savings account and fixed deposits. It also has a host of exclusive benefits and privileges that go beyond traditional banking.
Keep your money working
Earn up to 3.5% interest p.a. on your savings account
Remit funds to and from India
Remit money to and from your account with interest earned being completely tax-free
Enjoy bespoke privileges
40+ privileges with a DBS Treasures NRE savings account
Features and Benefits
- Earn high interest rates of up to 3.5% per annum on savings parked in the account
- Principal and interest amounts earned are fully and freely repatriable
- Transfer money anywhere in the world easily and safely with internet banking and mobile banking services
- A joint NRE account can be opened along with another Non-Resident Indian or Person of Indian Origin (PIO) and operated on either or survivor basis
- An NRE account can be used to make investments in India across mutual funds
- Both principal and interest earned are tax free in India
Fees and Charges
Click here to view the fees and charges.
The following individuals are eligible to open an NRE Savings Account:
- NRI (Non Resident Indian)
- An Indian citizen residing outside India for employment, studies or business
- Individual posted in UN Organisation or official deputed abroad by the Government of India or public sector undertakings
- Indian nationals who may be mariners or seafarers working on oil rigs or registered foreign airlines
- PIO (The Person of Indian origin) / OCI (Overseas Citizen of India)
- Has held an Indian passport at any point of time
- A parent or their grandparent was a citizen of India under the Constitution of India or India Citizen Act 1955
- Is a spouse of an Indian Citizen or spouse of PIO
For NRI (Non-Resident Indian)
- Copy of valid passport (pages with your name, address, date of birth, date and place of issue, expiry date, photograph, address, signature, immigration stamp and visa pages, if any)
- Proof of NRI status, by way of valid employment/residence visa copy or work/residence permit
- Proof of Overseas and Indian Address (as per Customer Identification Policy)
- Copy of Indian PAN card or Form 60
- Recent passport size colour photograph
- Additionally, for seafarers: Current work contract and copy of CDC along with the last page of disembarkation stamp & FEMA declaration is required to confirm NRI status
For PIO (Person of Indian Origin)
- Copy of valid passport (pages with your name, address, date of birth, date and place of issue, expiry date, photograph, signature and observation page, if any)
- Copy of valid PIO/OCI card or any other proof of PIO status (as per Customer Identification Policy)
- Proof of overseas and Indian address (as per Customer Identification Policy)
- Duly signed and filled-in PIO declaration
- Copy of Indian PAN Card or Form 60
- Recent passport size colour photograph
How to Apply
Apply Now A Relationship Manager will reach out to you shortly.
Frequently Asked Questions
Your DBS Treasures NRE savings account is maintained in Indian rupees
A DBS Treasures account can be opened with INR 5 lakhs. However, the Total Relationship Value (TRV) must grow to a minimum of INR 30 lakhs in 6 months. The Total Relationship Value (TRV) is across all accounts in a family and calculated by aggregating average quarterly savings account balances and end of period term deposits, insurance, investments and mortgage loan outstanding. 40% of the net balance of the loan (Home Loan / LAP) will be considered towards TRV computation.
Interest on savings is paid at quarterly intervals each year, i.e., on 31st March, 30th June, 30th September and 31st December of every year. This may be subject to change.
Yes, you can repatriate both the principal amounts parked and the interest earned in NRE accounts.
No, sums placed in this account and the interest earned are tax free in India.
Yes, you can open an NRE account by transferring funds from NRO accounts subject to a maximum of USD 1 million or equivalent in a financial year, subject to submission of necessary documents as applicable.
Yes, you can register a nominee.
Yes, you can access your NRE account while you are abroad. Log in through the DBS Treasures Internet or mobile banking services. You can also reach out to your dedicated Relationship Manager.
Yes, you can assign a power of attorney to carry out transactions on your behalf; however, she / he can have only limited access to your account.