As an NRI, you can deposit your foreign currency earnings easily into NRE accounts. There is no limit on the amount you can repatriate to your country of residence. You can even withdraw from your NRE savings account in Indian Rupees.
You can choose to open your NRE savings account individually or jointly with another non-resident Indian. You can also invest online in mutual funds easily through your NRE account.
An NRE account from DBS Treasures offers a competitive interest rate on your savings account and fixed deposits. It also has a host of exclusive benefits and privileges that go beyond traditional banking.
Earn up to 3.5% interest p.a. on your savings account
Remit money to and from your account with interest earned being completely tax-free
40+ privileges with a DBS Treasures NRE savings account
The following individuals are eligible to open an NRE Savings Account:
For NRI (Non-Resident Indian)
For PIO (Person of Indian Origin)
Your DBS Treasures NRE savings account is maintained in Indian rupees
A DBS Treasures account can be opened with INR 5 lakhs. However, the Total Relationship Value (TRV) must grow to a minimum of INR 30 lakhs in 6 months. The Total Relationship Value (TRV) is across all accounts in a family and calculated by aggregating average quarterly savings account balances and end of period term deposits, insurance, investments and mortgage loan outstanding. 40% of the net balance of the loan (Home Loan / LAP) will be considered towards TRV computation.
Interest on savings is paid at quarterly intervals each year, i.e., on 31st March, 30th June, 30th September and 31st December of every year. This may be subject to change.
Yes, you can repatriate both the principal amounts parked and the interest earned in NRE accounts.
No, sums placed in this account and the interest earned are tax free in India.
Yes, you can open an NRE account by transferring funds from NRO accounts subject to a maximum of USD 1 million or equivalent in a financial year, subject to submission of necessary documents as applicable.
Yes, you can register a nominee.
Yes, you can access your NRE account while you are abroad. Log in through the DBS Treasures Internet or mobile banking services. You can also reach out to your dedicated Relationship Manager.
Yes, you can assign a power of attorney to carry out transactions on your behalf; however, she / he can have only limited access to your account.