*Annualized Yield for 2 years at 5.75% simple interest p.a., compounded quarterly. T&Cs apply.

Open FD Online

 

NRI Fixed Deposits

An NRI fixed deposit is a great way to invest money for Indians who live overseas. Depending on the type of investment, the returns may be tax-free as well. Some NRI fixed deposits also allow for investment in foreign currency that protects them from currency fluctuations.

Non-resident Indians have several Fixed Deposit Options to choose from with DBS Treasures and each of the following accounts allow you to earn interest at competitive rates.

NRE Fixed Deposit:

DBS Treasures NRE fixed deposit accounts enable you to earn high interest on your foreign currency earnings. DBS Treasures NRE fixed deposits are fully repatriable. Moreover, interest earned on NRE deposits is tax-free in India.

NRO Fixed Deposits:

You can grow your savings with competitive interest rates on DBS Treasures NRO fixed deposits on income that's earned in India while you live overseas. DBS Treasures NRO fixed deposits can be opened jointly with resident or non-resident Indians.

FCNR:

While working or living overseas, you can still have tax-free income in India. A great NRI fixed deposit option is a Foreign Currency Non-Resident Fixed Deposit, commonly known as FCNR deposit or FCNR account. Deposit funds across six foreign currencies and earn interest at competitive interest rates with an FCNR FD.

Open an NRI Savings Account

 

Advantages of an NRI Fixed Deposit

  • NRI fixed deposits allow for safe and secure investments
  • They offer multiple avenues to invest your money
  • Certain types of NRI FD accounts are 100% exempt from tax
  • Nomination option allowed on all types of NRI fixed deposit account
  • High returns are possible thanks to competitive NRI FD interest rates

Open an NRI Savings Account

 

Documents Required to open NRI Fixed Deposit

For NRI (Non-Resident Indian):

  • A valid Indian PAN card or Form 60
  • Your Indian passport
  • Documents to prove NRI status - Work / Residence Permit or Employment/Residence Visa copy
  • A recent passport size colour photograph
  • Address proof (overseas and in India)
  • Additionally for seafarers: Your FEMA declaration, along with the current work contract and a copy of CDC along with the last page that features your disembarkation stamp

For PIO (Person of Indian Origin):

  • A valid Indian passport
  • A valid PIO/OCI card or any other proof of PIO status as per Customer Identification Policy
  • Proof of Address (overseas and in India) as per Customer Identification Policy
  • Duly signed and filled-in PIO declaration
  • Recent passport size colour photograph

Account

NRE Fixed Deposits

NRO Fixed Deposits

FCNR Deposits

Currency

Indian Rupees

Indian Rupees

USD, GBP, AUD, CAD, SGD and HKD

Repatriation

Fully repatriable

Partially repatriable

Fully repatriable

Eligibility

NRI, PIO, OCI

NRI, PIO, OCI

NRI, PIO, OCI

Joint Account Facility

Yes

Yes

Yes

Tax

Tax-free

Interest taxable

Tax-free

Tenure

1 to 10 years

1 to 10 years

1 to 5 years

Open an NRI Savings Account

 

How to Open an NRI Fixed Deposit

You can open a DBS Treasures NRI FD either online or offline depending on the type of FD. Login to our internet or mobile banking platforms and set up an FD account in seconds.

Open an NRI Account

 

Frequently Asked Questions

An NRI Fixed Deposit allows NRIs to invest their money in India and earn interest on it. NRIs can open NRE, NRO, and FCNR FDs. They can earn tax-free interest income on NRE and FCNR FDs, whereas interest earned on NRO FDs is taxable in India.


Depending on your source of income, you can open either an NRE or NRO fixed deposit with DBS Treasures. We can help you find the perfect investment solution. Click here to reach out to a Relationship Manager.


No, NRO fixed deposits are subject to income tax. NRE and FCNR deposits, on the other hand, are not subject to income tax.

You will find the latest interest rates NRI FDs here.

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