Can I break my fixed deposit before it matures?

Yes, it is possible for you to break the FD before the maturity date. However, you need to maintain it for a minimum of 12 consecutive months to earn interest on it. Pre-closure charges as applicable would be levied.

What happens if I forget about my FD maturity date?

If don’t withdraw your FD upon maturity, it will be automatically renewed for the same tenure if you provide auto renewal instructions. The interest rate prevailing as on the maturity date will be applicable

NRE Fixed Deposits - Open NRE FD Account Online

Q: Why should I opt for NRE fixed deposits?

NRE fixed deposits enable you to earn high and tax free interest on your foreign currency savings. Principal and interest are freely and fully repatriable

Q: What is the frequency of interest payment on my NRE fixed deposit?

This will depend on the type of term deposit booked. For cumulative deposits interest payment is at the time of maturity. For quarterly pay-out type of term deposit, the interest payment frequency is quarterly.

Q: What is the income tax rate levied on my NRE fixed deposit?

As per current RBI guidelines, funds parked in NRE fixed deposit accounts are completely exempt from taxes in India

Q: Can I open the FD jointly with another individual and can I assign a nominee for my fixed deposit?

Yes you can open the FD jointly with another non-resident Indian and you can assign a nominee for the FD account.

NRE Fixed Deposits

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

Open NRE Fixed Deposit

NRE Fixed Deposit

NRE fixed deposits allow you to grow foreign currency savings in India and earn tax-free interest at competitive interest rates.

DBS Treasures NRE fixed deposits are fully repatriable, though the investment you make is converted to Indian rupees. On repatriation, this amount can be converted into the currency of your choosing. The principal amount and interest earned on NRE fixed deposits are 100% tax-free.

Click here to view interest rates.

Features and Benefits of NRE FD

Both principal and the interest earned on NRE fixed deposits are tax-free in India
You can freely and fully repatriate the principal amount and interest earned to your country of residence with your NRE FD account
You get competitive interest rates on your NRE fixed deposits
You can hold the NRE FD jointly with more than one non-resident Indian
An NRE FD can be opened for flexible tenures lasting from one year to 10 years
You can renew your NRE fixed deposit online in a hassle-free manner
You can assign a nominee on your NRE FD

Open NRE Fixed Deposit

Eligibility Criteria

Only Non-Resident individuals of Indian nationality or of Indian origin can apply for NRE fixed deposits.

Open NRE Fixed Deposit

Documents Required to open NRE Fixed Deposit

For NRI (Non-Resident Indian)

Recent passport size colour photograph
Your Indian PAN card or Form 60
Copy of valid passport
Proof of NRI status - Employment/Residence Visa copy or Work / Residence Permit
Address proof (overseas and in India) as per Customer Identification Policy
Additionally, for seafarers: Copy of CDC and last page with disembarkation stamp, current work contract and FEMA declaration

For PIO (Person of Indian Origin)

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

Once your DBS Treasures NRE savings account is opened basis the documents listed above, NRE fixed deposits can be booked online through the DBS Treasures internet or mobile banking platforms. You may also choose to submit an FD request form at the nearest DBS Treasures branch in India.

How to Open an NRE Fixed Deposit

Open NRE Fixed Deposit

You can open a DBS Treasures NRE FD Account either online or offline. Contact a Relationship Manager and set up an NRE FD account in seconds

Frequently Asked Questions

What is NRE Deposit?

NRE Deposits are fixed deposits held by Non-Resident Indians (NRIs). As an NRI, you can deposit foreign currencies and open fixed deposits. NRE fixed deposits are like regular fixed deposits but are tax-free and fully repatriable.

Why should I opt for NRE fixed deposits?

NRE fixed deposits enable you to earn tax-free interest on your foreign currency earnings at competitive interest rates. Both the principal and interest in NRE fixed deposits are freely and fully repatriable as well.

In what currency can I maintain my DBS Treasures NRE fixed deposit account?

You can maintain your NRE fixed deposit account in Indian rupees only.

What is the frequency of interest payment on my NRE fixed deposits?

The payment of interest on NRE fixed deposits is dependent on the type of term deposit booked. For cumulative deposits, interest is paid out at the time of maturity. For quarterly pay-out NRE fixed deposits, the interest is paid out in every quarter.

Can I break my NRE fixed deposits before they mature?

Yes, it is possible to break NRE fixed deposits before the maturity date. However, NRE fixed deposits need to be maintained for a minimum of 12 consecutive months to be eligible for interest payments. Pre-closure charges may also be applicable on NRE fixed deposits. You can learn more about the charges here.

What is the income tax rate levied on my NRE fixed deposits?

As per current RBI guidelines, funds placed in NRE fixed deposits are entirely exempt from taxes in India.

What happens if I forget about the maturity date for my NRE fixed deposits?

If you do not withdraw the amount in your NRE fixed deposits upon maturity, it will be automatically renewed for the same tenure if you have provided auto-renewal instructions. Else, the amount will be credited into your NRE savings account. In the case of auto-renewal, the interest rate prevailing on the maturity date will be applicable.

Can I open NRE fixed deposits jointly with another individual and can I assign a nominee?

Yes, you can open NRE fixed deposits jointly with another non-resident Indian. You can also assign a nominee for the FD account.

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