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in USA
At a Glance
The land of infinite opportunities, the United States of America boasts of a sizeable community of Indian immigrants. As an NRI residing in the USA, you may have financial obligations in India. You may wish to manage your expenses and invest your foreign earnings in India. Now, you can do it all with DBS NRI Fixed Deposits. Open NRI Fixed Deposit Accounts with DBS Treasures to enjoy a world of benefits.
Open NRI Fixed Deposit from USA
At DBS Treasures, you will find an array of NRI Fixed Deposits that allow you to earn additional income at competitive interest rates. Open any of these NRI FDs:
NRE Fixed Deposit
The DBS NRE Fixed Deposit allows you to earn high-interest rates on your foreign currency earnings. Plus, the funds and interest income in this type of NRI FD are fully repatriable back to America. Also, the interest earned is exempted from tax in India.
NRO Fixed Deposit
With the DBS Treasures NRO Fixed Deposits, you can grow your savings. DBS offers. Use your Indian income sources to create the NRO FD and earn competitive interest on NRO FDs. You may also deposit your USA earnings converted to INR and use them to create the NRO FD. Open the FD online from USA individually or jointly with Resident Indians or NRIs.
FCNR Deposits
DBS also offers Foreign Currency Non-Resident Fixed Deposit (FCNR), wherein you can deposit six major types of foreign currencies and earn attractive interest income in the currency of deposit. Earn tax-free interest income on your FCNR Deposits with locked-in currency rates to protect your deposits from market fluctuations.
Advantages of Opening an NRI FD Account from the USA
- Invest your funds safely and securely.
- Choose from various types of NRI FDs with varying tenures.
- Enjoy 100% tax exemption on certain types of NRI Fixed Deposits.
- Assign nominees to all your NRI Fixed Deposit Accounts.
- Get competitive interest rates and earn high returns on your DBS Treasures NRI FD.
Documents Required
NRIs must provide the following documents to open NRI FD from USA
- Valid PAN Card or Form 60, whichever is applicable.
- A copy of the valid Indian passport.
- Documents proving NRI status – e.g., work permit, residency permit, employment or residence visa copy
- Recent (coloured) passport size colour photograph.
- India and US Address proof documents
- Seafarers must also provide their FEMA declaration, with the current work contract and a copy of CDC along with the last page featuring the disembarkation stamp.
Persons of Indian Origin must provide the following documents
- A copy of the valid Indian passport.
- Copy of valid PIO/OCI card or any other proof of PIO status as per Customer Identification Policy.
- India and US Address proof documents as per Customer Identification Policy.
- Duly signed and filled in PIO declaration.
- Recent (coloured) passport size colour photograph
Open NRI Fixed Deposit Account
DBS Treasures allows you to open an NRI FD either online or offline, depending on the type of Fixed Deposit Account you choose. You can set up an NRI Fixed Deposit Account in a few clicks by logging on to the DBS internet or mobile banking platforms.
How to Apply for an NRI FD Account from the USA?
A DBS Treasures Relationship Manager will reach out to you soon after.
Frequently Asked Questions
While you may have parked USD in the NRE Account, you can open the FD and earn interest on it only in INR. All funds parked in both NRE and NRO Accounts are automatically converted to INR, and the account balances are also maintained in INR.
The RBI and the bank itself determine interest rates appliable on NRI Fixed Deposit Accounts. They are subject to change from time to time. You may check the current interest rates for NRI Fixed Deposit accounts here.
For FCNR deposits, interest is paid in the currency of the specific deposit. For instance, if you open an FCNR NRI FD in US dollars, you will earn interest income in USD.
