Apply Now

 

At a Glance

As Global Indians, one option you have when it comes to depositing your money is through a Foreign Currency Non-Repatriable (FCNR) account. DBS Treasures' FCNR Account is a convenient way of depositing this money, as the interest you earn is tax-free in India.

Furthermore, FCNR deposits in India offer a higher interest rates when compared with other countries.

To open FCNR deposit account, click here.

 

Features and Benefits

  • Tenures ranging from 1 to 5 years
  • Competitive interest rates
  • You can deposit in nine currencies
  • No minimum deposit amount
  • Interest earned exempt from income tax
  • Easy to open
 

FCNR Interest Rates

Interest Rate w.e.f. 1st September 2020

TenorInterest Rate
1 year to less than 2 years0.50
2 years to less than 3 years0.49
36 months to less than 37 months0.51
37 months to less than 38 months0.51
38 months to less than 48 months0.51
4 years to less than 5 years0.54
5 years0.61

Rates applicable for less than USD 275,000. For deposits greater than or equal to USD 275,000, please contact your Relationship Manager.


TenorInterest Rate
1 year to less than 2 years0.34
2 years to less than 3 years0.36
3 years to less than 4 years0.39
4 years to less than 5 years0.44
5 years0.48

Rates applicable for less than GBP 215,000. For deposits greater than or equal to GBP 215,000, please contact your Relationship Manager.


TenorInterest Rate
1 year to less than 2 years0.01
2 years to less than 3 years0.01
3 years to less than 4 years0.01
4 years to less than 5 years0.01
5 years0.01

Rates applicable for less than CHF 270,000. For deposits greater than or equal to CHF 270,000, please contact your Relationship Manager.


TenorInterest Rate
1 year to less than 2 years0.01
2 years to less than 3 years0.01
3 years to less than 4 years0.01
4 years to less than 5 years0.01
5 years0.01

TenorInterest Rate
1 year to less than 2 years0.01
2 years to less than 3 years0.01
3 years to less than 4 years0.01
4 years to less than 5 years0.01
5 years0.01

TenorInterest Rate
1 year to less than 2 years0.53
2 years to less than 3 years0.57
3 years to less than 4 years0.64
4 years to less than 5 years0.75
5 years0.85

TenorInterest Rate
1 year to less than 2 years0.01
2 years to less than 3 years0.01
3 years to less than 4 years0.01
4 years to less than 5 years0.01
5 years0.01
 

Apply Now


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 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
  • For Seafarer: Current work contract and copy of CDC along with last page of disembarkation stamp & FEMA declaration is required confirming NR 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

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


While you can withdraw money from your FCNR FD, you need to remember that no interest is payable if the withdrawal is made before the end of the year


Yes, the interest rate is compounded half yearly


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.


Yes, there is a nomination facility available.

Thank you. Your feedback will help us serve you better.

Was this information useful ?

Thank you for your feedback
Let us know how this article helped:
We're sorry to hear that.
How can we do better?
Enter only letters, numbers or @!$&-/()',.