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NRI mutual funds allow Non-Resident Indians to invest in equity, debt or liquid funds. An NRI mutual funds investment can seem like a time-consuming decision, but with the right team to help support you, investing should be extremely easy and convenient.
At a Glance
At DBS Treasures, we offer a wide suite of mutual funds across equity, debt and liquid funds. We support you with the best-in-class digital platform and a dedicated Relationship Manager to help you make the reight decisions. We also send you the latest insights across India and global financial markets.
To start investing in NRI mutual funds, you will need a DBS Treasures NRE account.
In addition to an NRE account, you will also need to fill out the Foreign Account Tax Compliance Act (FATCA) form. Once this process is completed, you will need to furnish a tax identification number of the country of your residence to get started with the various NRI mutual funds we have available to you.
Features and Benefits
So, why consider mutual funds in India if you do not reside here? NRI mutual funds offer access to an array of underlying securities from debt and equity in India. There are also many other advantages including:
- Ease of Investing and Monitoring: You can manage your investment portfolio with ease from the convenience of your home. NRI mutual funds can be managed entirely online from any part of the world - you can buy or redeem mutual funds in a few simple clicks. You can also facilitate systematic online transfers from one scheme to another.
- Safety: Mutual fund schemes have been considered to be safer over the years compared to direct stock-market participation since concentration risk is reduced. For cautious investors who are looking for new investment opportunities, NRI mutual funds offer great opportunities.
- Professional fund management: Mutual funds have expert fund managers who analyse the market and manage your investments. Their objective is to maximise returns and minimise risks.
- Rupee appreciation: A stronger rupee will mean greater profits.
At DBS Treasures, you have access to over 200 mutual fund schemes. Our hand-picked schemes are among the highest-rated in India. You can view fund performance and related research before making your decision.
How to Apply
Open an NRI Savings Account
A Relationship Manager will reach out to you shortly.
Frequently Asked Questions
To begin investing in mutual funds in India, you must first open an NRE account with DBS Treasures. Once your NRE account is set up and functional, you can begin investing. There are two ways in which NRIs can invest in mutual funds in India:
- Self / Direct: In this kind of investment, you manage your investment portfolio. You have to first complete the e-KYC process via our mobile banking app or by logging in to our internet banking.
- Power of attorney: You also have the option of letting another person invest on your behalf. You have to provide a power of attorney letter to facilitate transactions made by the person of your choosing on your behalf. This is ideal if you have someone you can trust to safeguard and monitor your investments.
To complete your KYC process, you need to submit a recent passport size photograph, attested copies of your PAN card, passport and residence proof at your country of residence along with your bank statement. In some instances, in-person verification may be necessary. This can be done by visiting the Indian Embassy in your country of residence.
The profits from equity mutual funds are taxable based on the holding period. If you have invested in the short-term (up to 36 months), your gains will be taxed at the rate of 15%. For long-term capital gains over Rs. 1 lakh a year, a tax at the rate of 10% is deductible. For debt funds, short-term capital gains are taxable at a rate of 30% with the assumption that you are in the higest tax bracket. If you have held the fund for more than three years, you will be taxed at 20% with the indexation benefit.
DTAA guidelines may also apply for NRI mutual funds in which you have invested. If your current country of residence has signed a Double Tax Avoidance Agreement with India, you will not need to pay taxes twice for mutual fund investments made in India.
