Open an NRI Savings Account

 

At a Glance

With the finest education programs and employment prospects, Australia is attracting immigrants from all over the world. Moreover, due to its favourable immigration regulations and reputation as a hospitable country with unparalleled opportunities, several Indians are opting to migrate to Australia. As an NRI living in Australia, you can now manage your expenses with NRI Accounts and securely invest in NRI Fixed Deposits.

Open an NRI Savings Account

 

Open NRI Fixed Deposit from Australia

DBS Treasures enables you to invest in various types of NRI Fixed Deposits from Australia. Each FD comes with unique features and competitive interest rates. Choose from any of these NRI FDs.

NRE Fixed Deposit

Earn higher interest rates on your foreign currency earnings with our Non-Resident External (NRE) Fixed Deposit Accounts. Enjoy 100% tax-free interest income on your deposits. The entire investment is fully repatriable back to Australia.

NRO Fixed Deposit

The DBS Treasures Non-Residential Ordinary (NRO) Fixed Deposit is an excellent investment tool. It allows you to earn higher interest gains on your Indian Rupee income. You can open the NRO Fixed Deposit jointly with another NRI or resident Indian citizen in just a few clicks via DBS Treasures online.

FCNR Fixed Deposit

Deposit your money in six major types of foreign currencies and earn higher interest gains in the currency of deposit with DBS Treasures FCNR Fixed Deposits. Foreign Currency Non-Resident(FCNR) Fixed Deposit allows you to earn tax-free interest on your investment while protecting your investment from forex rate fluctuations.

Open an NRI Savings Account

 

Advantages of Opening an NRI Fixed Deposit

  • DBS Treasures NRI Fixed Deposits are the safest and most secure investment tools.
  • You can invest in various NRI Fixed Deposits with varying tenures easily.
  • Earn 100% tax-free and fully repatriable interest gains on select NRI Fixed Deposit Accounts like NRE and FCNR.
  • Easily assign nominees to all your NRI Fixed Deposits Accounts.
  • Maximise your income by earning attractive interest rates on your NRI Fixed Deposit with DBS Treasures

Open an NRI Savings Account

 

Documents Required

To open NRI Fixed Deposit Account from Australia, you need to submit the following documents

Documents for NRIs in Australia

  • 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 Australian and Indian residence as per Customer Identification policy.
  • Recent passport-sized coloured 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 PIO/OCI in Australia

  • 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 Australian and Indian residence.
  • Duly filled and signed PIO declaration.
  • Recent passport-sized coloured photograph

Open an NRI Savings Account

 

Open NRI Fixed Deposit Account

Seamlessly open NRI Fixed Deposit Account from Australia with DBS Treasures online via our internet or mobile banking platforms or offline, depending upon the type of fixed deposit you choose.

How to Apply for an NRI FD Account from Australia?

Open an NRI Savings Account

A DBS Treasures Relationship Manager will reach out to you soon after.

 

Frequently Asked Questions

Your Australian Dollar will be converted to Indian Rupees if you invest in NRE/NRO Fixed Deposits. However, with FCNR deposits, the FD will remain in the original currency of deposit, i.e., AUD, you will earn interest in AUD, and when the FD matures, you can redeem it in AUD.


As per RBI guidelines, you will not be entitled to any interest payment if you choose to prematurely withdraw your NRI Fixed Deposits within a year (or less) from the date of deposit or renewal.


DBS Treasures levies a charge of 1% on all prematurely withdrawn fixed deposits, both booked and renewed. This charge is as per RBI regulations.

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