Open an NRE Savings Account


At a Glance

Renowned for its excellent employment opportunities and high quality of life, The United States of America provides equal opportunities to citizens and immigrants alike. NRIs in the US can park their US dollars in India into DBS Treasures NRE Accounts and create NRE Fixed Deposits to enjoy 100% repatriation of funds and tax-exemptions on interest income in India.

Open NRE FD From USA

The land of top-rated Ivy League Schools and world-class multi-national corporations, the United States of America is a global super-power. The US celebrates innovations and welcomes millions of immigrants each year to further its development. Every immigrant enters the US with hopes of fulfilling their own version of the American dream.

As an NRI in the USA, earning USD is the norm for you. However, if you wish to benefit from currency rate differences and grow your savings in India, you can deposit your USD in NRE Savings Accounts. You can also open NRE Fixed Deposit from USA and earn tax-free interest income in India. While the NRE FD is maintained in Indian Rupees, you can fully repatriate the principal amount and interest income in USD upon maturity.

Open an NRE Savings Account


Features and Benefits

  • Tax exemptions - The principal amount and interest earned on NRE Fixed Deposit Accounts are 100% tax-free in India.
  • Full Repatriation - Both the principal deposit amount and interest gained is freely and fully repatriatable to your country of residence.
  • Higher interest gains - Grow your savings in India by earning competitive interest rates of 4.35% per annum* subject to RBI and bank regulations.
  • Joint FD Accounts - You can open an NRE FD Account jointly with more than one Non-Resident of India.
  • Flexible tenure – Choose your preferred investment tenure from 1 to 10 years when you open an NRE Fixed Deposit External Account with DBS Treasures.
  • Easy renewal – Renew your NRE Fixed Deposit seamlessly on the DBS Treasures internet and mobile banking platforms.
  • Nomination – Add multiple nominees to your DBS Treasures NRE deposit easily.

Open an NRE Savings Account


Interest Rates

Open NRE Fixed Deposits from USA to enjoy attractive interest income:


Less than INR 2 Crore

1 year to 375 days


367 days to less than 2 years


2 years & less than 2 years and 6 months


2 years & 6 months


2 years 6 months 1 day & less than 3 years


3 years & less than 4 years


4 years & less than 5 years


5 years and above


Open an NRE Savings Account


Eligibility Criteria

Only Non-Residents of India (NRI) and Person to India Origin (PIO) are eligible to open NRE Fixed Deposit from USA.


Documents Required

You can open NRE Fixed Deposit from USA with just a few clicks. Follow our simple procedure and provide standard documents for verification.

Documents for NRIs in the USA

  • A copy of your Indian PAN Card or Form 16
  • A copy of your valid Indian Passport
  • Proof of NRI status – a copy of employment/ visa copy or work/ residence permit.
  • Address proof of your US and Indian residence as per Customer Identification policy.
  • Recent passport size photograph

In addition to these documents, seafarers have to provide the following documents

  • FEMA declaration
  • Current work contract
  • Copy of CDC
  • Last page of the disembarkation stamp

Documents for POI/OCIs in the USA

  • A copy of valid Indian Passport
  • A copy of a valid PIO/OCI card or any other proof of PIO as per Customer Identification policy.
  • Address proof of your US and Indian residence.
  • Duly filled and signed PIO declaration.
  • Recent passport size photograph

Open an NRE Savings Account


How to Apply

Non-Resident External (NRE) Account

Sign up for a Non-Resident External (NRE) Account

Open NRE Account

Non-Resident Ordinary (NRO) Account

Sign up for a Non-Resident Ordinary (NRO) Account

Open NRO Account


Frequently Asked Questions

You need to hold your NRE FD for a minimum duration of 12 consecutive months to be eligible for interest income. DBS will not pay interest income for withdrawals within 1 year of investment.

Per RBI regulations, any foreign currencies deposited in the NRE Account or FD are converted to Indian Rupees. As such, your NRE FD and the interest payment on it will be in INR. However, if you wish to repatriate the FD to the US upon maturity, you can do so in USD at the applicable currency conversion rates.

Yes, you can open NRE Fixed Deposits with more than one NRI. You can also open multiple NRE Fixed Deposit Accounts with different joint holders in each account. You may source the funds for all your NRE FDs from a single NRE Savings Account.

Yes, the nominee can be anyone – a Resident Indian or an NRI. Also, unlike with NRE Accounts, there is no rule that the nominee for the NRE FD should be your blood relative.

There are no tax implications associated with NRE Fixed Deposits in India. Both the principal amount deposited, and the interest gained is tax exempted in India. However, you may have to mention the interest income when you file your tax returns in the USA, so ensure you check the same while filing your US tax returns.

Yes, you can. DBS has not set any upper limits or restrictions on NRE FD investment amounts. However, if you wish to open NRE Fixed Deposit of any amount exceeding INR 2 Crore, you should get in touch with your designated relationship manager. Your relationship manager will brief you regarding the interest rates and other regulations related to the investment.

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