- Banking
- Wealth
- Privileges
- NRI Banking
- Treasures Private Client
At a Glance
As an NRI, you can easily deposit your foreign currency earnings into an NRE savings account, with no restrictions on repatriation. You can withdraw funds in Indian Rupees and manage your savings seamlessly online, either individually or jointly with another NRI.
Additionally, you can invest in mutual funds and fixed deposits directly through your NRE account, earning competitive interest rates. A DBS Treasures NRE account offers exclusive banking benefits, helping you maximise your savings and manage your wealth efficiently.
Highlights of DBS Treasures NRE Savings Account
- Earn Competitive Returns: Grow your savings with up to 3.5% interest per annum. You can also earn higher tax-free interest of up to 7% annually by booking NRE deposits from your NRE account.
- Seamless Global Transactions: Effortlessly remit money to and from India with full repatriability.
- Exclusive Banking Privileges: Enjoy preferential remittance rates, luxury travel benefits, and a global concierge service
Features of an NRE Savings Account
A DBS Treasures NRE savings account is designed to help NRIs manage their foreign income seamlessly. Key features include:
- Full Repatriability: Freely transfer both principal and interest to your overseas account.
- Tax-Free Interest: Earn interest on your savings without any tax deductions in India.
- Multi-Channel Banking: Manage your account through online banking, mobile apps, or branch services.
- Joint Account Facility: Open the account individually or with another NRI or a Resident Indian (on a former or survivor basis).
- Investment-Ready: Easily invest in Indian equities, mutual funds, and fixed deposits.
- Transparent Charges: Enjoy straightforward fee structures with no hidden costs.
- Zero FX Markup: Enjoy international transactions without incurring extra currency conversion charges with Zero FX markup on your Debit Card spends across the world.
These features ensure convenience, flexibility, and security, making it a smart banking solution for NRIs.
NRE Account Benefits: Why It’s the Best Choice for NRIs
Beyond its technical features, this account offers distinct advantages that enhance the overall banking experience. Here’s how NRE account benefits deliver real value:
- Unrestricted Global Access – Transfer funds internationally with full repatriability, offering complete financial freedom.
- Exclusive Privileges: Access premium services like global concierge support, luxury travel benefits, and fine dining offers.
- Tailored Financial Guidance: Get personalized investment strategies from a dedicated Relationship Manager.
- Enhanced Security & Convenience: Benefit from advanced digital banking for seamless transactions.
- Hassle-Free Account Opening: Open an NRE account online quickly with minimal documentation.
The benefits of this NRE account are designed to simplify financial management for NRIs by combining optimized returns with exclusive privileges and personalized support. NRE account holder will enjoy a comprehensive and user-friendly banking experience.
NRE Account Interest Rates & Charges
If you have a DBS Treasures NRE account, understanding the associated NRE account charges helps you make informed financial decisions. At DBS Treasures, we ensure complete transparency with minimal service fees, so you always know what to expect. Additionally, with competitive NRE savings account interest rates, you can maximize your returns while managing costs effectively. Below is a breakdown of the key charges.
Total Relationship Value (TRV) & Quarterly Charges
DBS Treasures categorizes customers based on their Total Relationship Value (TRV), which is determined by their NRE account balances, term deposits, investments, and loans.
|
TRV Category |
INR 5 lacs to 30 lacs |
INR 30 lacs to 2 crores |
INR 2 Crores and Above |
|
Quarterly Charge for Non-Maintenance of TRV |
INR 1,500 |
INR 1,500 |
INR 1,500 |
Debit Card Fees & Foreign Exchange Markups
|
Description |
INR 5 lacs to 30 lacs |
INR 30 lacs to 2 crores |
INR 2 crores and above |
|
Annual Fee – Joint Holder |
Free |
Free |
Free |
|
Replacement of Lost/ Stolen Card |
INR 150 |
Free |
Free |
|
FX Markup on Debit Card Transactions |
Nil |
Nil |
Nil |
Cheque Collection and Processing Charges
|
Service |
INR 5 lacs to 30 lacs |
INR 30 lacs to 2 crores |
INR 2 crores and above |
|
Outstation Cheque Collection (per instrument) |
|
|
|
|
Upto INR 5,000 |
INR 25 |
INR 25 |
INR 25 |
|
INR 5,001 to 10,000 |
INR 50 |
INR 50 |
INR 50 |
|
INR 10,001 to 1,00,000 |
INR 75 |
INR 75 |
INR 75 |
|
INR 1,00,001 and above |
Free |
Free |
Free |
|
Cheque Collection Under Speed Clearing (INR 1,00,001 and above) |
Free |
Free |
Free |
*To know the latest charges associated with NRE Account check here.
DBS Treasures NRE savings account holders enjoy several free banking services, making transactions seamless and cost-effective. Along with minimal NRE account charges, you also benefit from competitive NRE savings account interest rates, ensuring your funds grow efficiently. Here are some key free services:
Free Banking Services
- Monthly account statements (including duplicate statements)
- Cheque book issuance
- Branch transactions
- Account closure
- Primary debit card annual fees
- Debit card PIN re-generation
- Transactions at DBS and non-DBS ATMs worldwide
Fund Transfer Services – Free of Charge
- NEFT & RTGS (Inward and Outward)
- Inward & outward remittances
- ECS/NACH return charges
- Returned funds for unapplied outward/inward telegraphic transfers
Additional Free Services
- Stop payment of cheques
- Foreign currency draft issuance, reissuance, and cancellation
- Issuance of Foreign Inward Remittance Certificate
- Standing instruction setup and modification
- Internet banking inquiry and transaction services
While most core banking services are free, certain third-party or correspondent bank charges may apply for select transactions. Open an NRE account today to enjoy these benefits while keeping costs minimal. Stay updated on the latest fees and charges for NRE accounts.
Types of NRE Accounts
DBS Treasures offers different types of NRE accounts to cater to the diverse financial needs of NRIs. These accounts allow you to manage and grow your overseas earnings in India while enjoying NRE account benefits. Whether you seek flexible savings or higher returns through fixed deposits, there’s an option to suit your financial goals.
Key Types of NRE Accounts and Their Features
1.NRE Savings Account
Ideal for everyday banking needs, this account provides seamless access to funds in India while earning competitive interest rates. It comes with internet banking, a debit card, and global transaction facilities for hassle-free financial management.
2.NRE Fixed Deposit Account
- A high-interest NRE deposit account that helps NRIs earn stable returns on their foreign income.
- Interest earned is completely tax-free in India, maximizing savings growth.
- Deposits can be fully repatriated, making it easy to transfer funds overseas when needed.
- Offers flexible tenure options ranging from 1 year to 10 years.
- Can be linked with an NRE savings account for automatic renewal or easy withdrawals.
NRE & NRO Accounts – Choosing the Right Option
While an NRE account is ideal for managing foreign earnings with tax-free interest and repatriability, NRIs may also opt for an NRO account to handle income earned in India, such as rent, dividends, or pensions. Many NRIs choose to maintain both NRE and NRO accounts to efficiently manage their global and Indian income while enjoying seamless banking with DBS Treasures.
With the best NRI account tailored to their needs, NRIs can discover the convenience of managing their finances from abroad.
Each NRE account type offers unique advantages, helping NRIs manage their wealth efficiently while ensuring financial freedom in India and abroad.
Eligibility Criteria for an NRE Account
The following individuals are eligible to open an NRE Savings Account:
- NRI (Non-Resident Indian)
- An Indian citizen residing outside India for employment, studies or business
- Individual posted in UN Organisation or official deputed abroad by the Government of India or public sector undertakings
- Indian nationals who may be mariners or seafarers working on oil rigs or registered foreign airlines
- PIO (The Person of Indian origin) / OCI (Overseas Citizen of India)
- Has held an Indian passport at any point of time
- A parent or their grandparent was a citizen of India under the Constitution of India or India Citizen Act 1955
- Is a spouse of an Indian Citizen or spouse of PIO
Documents Required for Opening an NRE Account
For NRI (Non-Resident Indian)
- Copy of valid passport (pages with your name, address, date of birth, date and place of issue, expiry date, photograph, address, signature, immigration stamp and visa pages, if any)
- Proof of NRI status, by way of valid employment/residence visa copy or work/residence permit
- Provide an officially valid document for either your overseas or Indian address, as per the Customer Identification Policy.
- Copy of Indian PAN card or Form 60
- Recent passport size colour photograph
- Additionally, for seafarers: Current work contract and copy of CDC along with the last page of disembarkation stamp & FEMA declaration is required to confirm NRI status
For PIO (Person of Indian Origin)
- Copy of valid passport (pages with your name, address, date of birth, date and place of issue, expiry date, photograph, signature and observation page, if any)
- Copy of valid PIO/OCI card or any other proof of PIO status (as per Customer Identification Policy)
- Provide an officially valid document for either your overseas or Indian address, as per the Customer Identification Policy.
- Duly signed and filled-in PIO declaration
- Copy of Indian PAN Card or Form 60
- Recent passport size colour photograph
How to open NRE account online
With DBS Treasures, you can open an NRE account online efficiently with minimal documentation. The digital process ensures a seamless experience, enabling you to manage your foreign earnings in India with ease.
Upon submitting your details, a dedicated Relationship Manager will assist you throughout the account opening process, providing guidance at every step to ensure a smooth and hassle-free experience.
For further assistance, submit your details here, and a Relationship Manager will contact you.
Frequently Asked Questions
Your NRE savings account is maintained in Indian Rupees (INR), allowing NRIs to deposit foreign earnings and withdraw funds easily in India.
To open an NRE account with DBS Treasures, NRIs must maintain a minimum Total Relationship Value (TRV) of ₹5 lakh with the Bank.
TRV includes deposits, NRE fixed deposits, and investments. It is calculated by aggregating average quarterly savings account balances and the end-of-period term deposits, insurance, investments, and mortgage loan outstanding. Additionally, 40% of the net balance of the loan (Home Loan/LAP) is considered for TRV computation.
Interest on an NRE savings account is credited quarterly i.e., on 31st March, 30th June, 30th September and 31st December of every year. This may be subject to change. NRE savings account interest rates ensure steady growth while keeping earnings tax-free.
Yes, an NRE account offers full repatriability, meaning both principal and NRE account rate of interest can be freely transferred abroad.
No, the interest earned on an NRE account in India is completely tax-free, making it an attractive option for NRIs.
No, direct transfers from an NRO account to an NRE account require tax clearance. However, NRIs can open an NRE account online with fresh foreign currency deposits.
Yes, NRIs can add a nominee to their NRE savings account, ensuring smooth succession planning and financial security.
Yes, NRIs can access their NRE savings account from anywhere via DBS Treasures, using online banking, mobile banking, or debit card services.
Yes, NRIs can assign a Power of Attorney (PoA) to manage their NRE savings account, allowing designated individuals to handle transactions.
An NRE account is best for NRIs managing foreign earnings, offering full repatriability and tax-free interest. An NRO account is for income earned in India and is taxable. Many NRIs maintain both with DBS Treasures for flexibility.
A resident savings account cannot be converted into an NRE savings account. However, an existing savings account can be converted into an NRO account, and a new NRE account can be opened separately. NRIs can open an NRE account online with DBS Treasures to manage their foreign income seamlessly. The process is simple and requires minimal documentation, ensuring quick and hassle-free onboarding.
An NRE account in India is a bank account designed for NRIs to deposit and manage their foreign earnings in India. It offers full repatriability, meaning both the principal and interest can be transferred abroad freely. With a DBS Treasures NRE account, you also benefit from attractive NRE savings account interest rates, tax-free earnings, and easy access to funds.
Yes, NRIs can open multiple NRO accounts with different banks in India. However, each NRO account must be used exclusively for managing income earned in India, such as rental income or dividends. While an NRO account is taxable, NRIs can also maintain an NRE account for foreign income, ensuring a well-balanced approach to managing both Indian and global earnings.
