For NRIs living overseas, investing their earnings in Foreign Currency Non-Resident (FCNR) deposit account with DBS Treasures ensures you can enjoy solid returns without worrying about taxes or rupee ups and downs.
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.
Living abroad as an Indian gives you an opportunity to invest back home. An FCNR deposit account lets you park your money in foreign currency like USD, GBP, SGD etc through a fixed deposit that’s both secure and rewarding. Here are some key benefits that you can take advantage of:
With DBS Treasures, you can strengthen your financial portfolio with attractive FCNR deposit rates. Refer to the table below to get an idea of your potential interest earned based on the tenor.
Rates with effect from 01 Mar 2024
Tenor |
USD |
1Y to <2Y |
5.00% |
2Y to <3Y |
4.00% |
3Y to <4Y |
0.01% |
4Y to <5Y |
0.01% |
5Y |
0.01% |
Note: Tenor = how long your money stays deposited. Looking for FCNR deposit interest rates in GBP, EUR, or JPY? Ask your relationship manager for details. FCNR rates and FCNR FD rates are subject to change; confirm with your branch on the booking date.
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 The interest on prematurely withdrawn Resident / NRO Term Deposits and NRE / FCNR deposits will be paid for the period that such deposit is held, at the rate prevailing on the date of placement of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However, no interest will be paid in case of NRE / FCNR Deposits prematurely withdrawn before the expiry of 1 (one) year from the date of deposit or its renewal.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.
Opening an FCNR deposit account with DBS treasures is a seamless and distinguished process, designed to cater to your unique financial aspirations as an NRI. You can simply begin the process by clicking on this:
After filling your contact details, a relationship manager will reach out to you over call for guidance.
You can deposit funds into your FCNR Deposit Account by transferring money from your NRE Account or by remitting foreign currency from overseas. This ensures a seamless and secure process while allowing you to benefit from competitive FCNR deposit rates.
Yes, you can withdraw your FCNR Fixed Deposit (FD) before maturity. However:
For complete details on premature withdrawals and applicable FCNR deposit interest rates, please review our terms and conditions.
Yes, FCNR rates allow for interest to be compounded on a half-yearly basis (every six months), helping maximize returns over time.
No, the FCNR interest rate is fixed at the time of deposit and remains unchanged throughout the tenure, ensuring stability regardless of market fluctuations.
Yes, a nomination facility is available for all DBS Treasures account holders, allowing you to assign a nominee for your FCNR Deposit Account.
Contact us 1860 267 1234 / 1800 209 4555
Only from SG 800 852 6186
For Int'l +91 44 6685 4555
Or have someone contact you