At a Glance

Use your foreign currency to open FCNR deposits in India and earn higher rates of interest

When you are abroad and earning in foreign currency, but still want to remit your funds to India, one of the best option could be a Foreign Currency Non-Resident Fixed Deposit, commonly known as FCNR deposit . Deposit funds in foreign currency and earn competitive high interest rates at the same time with an FCNR FD.

Maximise your earnings

Enjoy attractive rates of interest and no tax on your FCNR account deposits in India

Worldwide options

Nine currencies available, fully repatriable deposit and interest

Easy to open and manage

Low initial deposit and access via internet banking

 

Features & Benefits

  • Maintain your deposit in any of these nine currencies: USD, GBP, EUR, JPY, AUD, CAD, CHF SGD and HKD
  • Avail tenures ranging from 1 to 5 years
  • No minimum deposit amount
  • Deposit amount and interest earned are fully repatriable in NRE account
  • Interest earned on FCNR account is exempted from income tax and makes it tax efficient
  • Benefit from the higher interest prevailing in India
  • Internet banking facility, offering you 24-hour access to your account while ensuring the highest level of security and ease of transactions.
  • Mobile banking on the go from anywhere in the world.
  • Bank at any of our branches when you visit India using our inter-city banking facility

Click here to view the FCNR Interest Rates

 

Eligibility Criteria

Following individuals are eligible to open an FCNR deposit.

  • NRI (Non Resident Indian)
  • PIO (The Person of Indian origin) / OCI (Overseas Citizen of India)
 

Documents Required

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 and observation page, 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

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

Contact me
A Relationship Manager will reach out to you
Locate us Visit us at your nearest DBS branch
Call 1860 267 1234 / 1800 209 4555 / +91 44 6685 4555
 

Frequently Asked Questions

You can deposit funds into an FCNR account using your NRE account.


Yes, premature withdrawals are allowed from your FCNR FD. However, you must remember that no interest is payable if the withdrawal is made before the end of one year.


Interest on an FCNR deposit is compounded half yearly.


No there are no charges while debiting funds and depositing them in an FCNR account. There is, however, a GST tax on currency conversion.


Yes, there is a nomination facility available.


The interest rate will remain fixed during the tenure of your deposit. However, the interest rate on FCNR deposits will change from time to time, according to guidelines issued by the Reserve Bank of India.


Unfortunately ,No as per the applicable regulations in india. However, you can use your NRE account to transfer funds to open an FCNR deposit.


No, this facility is not available for an FCNR account.


Non-resident Indians (NRIs) or Overseas citizen of India can open FCNR deposit.

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