Take advantage of competitive NRE FD rates that allow you to earn interest tax-free on any amount saved. With NRE fixed deposits, you can remit any savings that you make abroad to your DBS Treasures NRE fixed deposit account and earn interest. As NRE FD rates are calculated to give you guaranteed returns, there is relatively higher security and comfort while choosing them for your investments.
The Bank shall, on written request from all depositors, allow withdrawal of a NRE / FCNR Deposits prior to the date of its maturity. The interest on prematurely withdrawn NRE / FCNR deposits will be paid for the period that such deposit is held, at the rate prevailing on the date of placement of such deposit or the contracted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However, no interest will be paid in case of NRE / FCNR Deposits prematurely withdrawn before the expiry of 1 (one) year from the date of deposit or its renewal.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.
NRE FD rates at DBS Treasures are designed to provide you with the maximum earning potential while the interest remains tax-free in India. This is because the amount invested and interest earned is on a sum of money that does not qualify as income from India.
Prematurely closed NRE FD accounts may face a penalty for early withdrawal as per the terms and conditions. However, the NRE FD interest rates as such do not change. They are adjusted for the actual time you stay invested.
Only NRIs can open NRE accounts. However, if an NRI becomes a resident of India (by staying in the country for over 182 consecutive days in a year), then the interest earned will be taxable. They must then also begin the transition process of converting the account to a residential savings account.