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FCNR / NRE Deposit with Forward Cover
At a Glance
A forward cover is a contract involving sale or purchase of currency at a fixed price on a fixed future date, arranged or bought as a hedge against adverse exchange rate fluctuations. NRI clients of DBS Treasures have access to FCNR / NRE Deposit with forward cover option to take advantage of reduced risk and earn better returns.
Foreign Currency Non-Resident (FCNR) Plus
In this option a FCNR / NRE deposit is booked and a forward cover is taken to provide fixed returns to the client in foreign currency. There is no currency fluctuation risk involved in this if the client stays till maturity.
Non-Resident External (NRE) Plus
In this option a FCNR deposit is booked and a forward cover is taken to provide fixed returns to the client in local currency (INR). There is no currency fluctuation risk involved in this if the client stays till maturity.
Benefits of FCNR / NRE Plus
- Enjoys safety of principal similar to Fixed Deposit
- Interest Earned is tax free in India
- Fully repatriable
- Earn potentially better fixed returns
How to Apply
Open an NRI Account A Relationship Manager will reach out to you shortly.