Open an NRI Savings Account


At a Glance

An FCNR deposit account is a fixed deposit account for foreign currency that allows Non-Resident Indians to earn tax-free interest on their investment.

You can stay protected against forex rate fluctuations as your investment continues to grow in the same currency you choose to invest. Plus, you get competitive interest rates, the income earned is tax-free and you can repatriate funds to your country of residence.

Maximise your earnings

Enjoy attractive rates of interest and tax-free income on your FCNR deposits in India

Worldwide options

Six currencies available with fully repatriable deposit and interest

Easy to open and manage

Low initial deposit and 24/7 access via internet and mobile banking

Open an NRI Savings Account


Features and Benefits

  • Maintain your deposit in any of these six currencies: USD, GBP, AUD, CAD, SGD and HKD
  • Avail tenures ranging from 1 to 5 years
  • No minimum deposit amount
  • Deposit amount and interest earned are fully repatriable in FCNR account
  • Interest earned on FCNR account is exempt from income tax in India
  • Benefit from competitive interest rates with DBS Treasures
  • Internet banking facility ensures that you have 24-hour access to your account with fully secure and quick transactions
  • Mobile banking on-the-go from anywhere in the world
  • Bank at any of our branches when you visit India using our DBS Treasures priority services

Open an NRI Savings Account


FCNR Interest Rates

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


Open an NRI Savings Account

Deposit Terms and Conditions:

The Bank shall, on written request from all depositors, allow withdrawal of a Resident / NRO Term deposits and NRE / FCNR Deposits before 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 The interest on prematurely withdrawn Resident / NRO Term Deposits and NRE / FCNR deposits will be paid for the period that such deposit is held, at the rate prevailing on the date of placement of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However, no interest will be paid in case of NRE / FCNR Deposits prematurely withdrawn before the expiry of 1 (one) year from the date of deposit or its renewal.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 detail terms and conditions click here.


Eligibility Criteria

You may be eligible to open an FCNR deposit if:

  • You are an NRI (Non-Resident Indian)
  • You have a PIO card (The Person of Indian origin) / OCI card (Overseas Citizen of India)

Open an NRI Savings Account


Documents Required

For NRI (Non-Resident Indian)

  • A valid passport
  • Proof of NRI status – Either Employment / Residence Visa copy or Work / Residence Permit
  • Address proof in India and overseas (as per the Customer Identification Policy)
  • A copy of your Indian PAN card or Form 60
  • A recent passport size colour photograph
  • Additionally for seafarers: Current work contract and copy of CDC along with the disembarkation stamp on the last page & FEMA declaration.

For PIO (Person of Indian Origin)

  • Valid passport
  • Valid PIO/OCI card or any other proof of PIO status (as per Customer Identification Policy)
  • Address Proof (Indian and overseas addresses) as per Customer Identification Policy
  • Signed and fully filled-in PIO declaration
  • A copy of your Indian PAN Card or Form 60
  • A recent passport-size colour photograph.

How to Apply

Open an NRI Account

A Relationship Manager will reach out to you shortly.


Frequently Asked Questions

You can deposit funds into an FCNR account using your NRE account. Any interest earned from your FCNR account is tax-free.

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 completion of one year. For more information, you can read the detailed terms and conditions here.

Interest on an FCNR deposit is compounded on a half-yearly basis. Any interest earned on an FCNR account is 100% tax-free.

Yes, there is a nomination facility available for FCNR accounts.

The interest rate will remain fixed during the tenure of your deposit.

No, you cannot use your NRO account 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 people who have a valid PIO/OCI card can open an FCNR deposit in India.

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