Thousands of Non-Resident Indians call Singapore their home as the country offers an abundance of employment and good lifestyle prospects. To cater to the need of such NRIs to remit money to India, there exists the DBS India Remit facility.
This facility is available to all NRIs holding an account with DBS Bank Singapore. If you have a DBS account in Singapore and have registered for iBanking, you can send money to a DBS Treasures account in India using the DBS India Remit option. It is the fastest and the most cost-effective way to remit money to India online.
To manage your foreign earnings in Singapore and income from assets in India, you can open NRE and NRO accounts respectively. DBS India Remit will facilitate convenient and remote transfers between your DBS Singapore and DBS India accounts.
Using your DBS Singapore account iBanking facility, you can remit money to India online directly to your NRE account in DBS Treasures. From there you can send money to your family members in India, buy property, make it easy for your parents to manage their monthly bills and much more.
DBS India Remit is loaded with multiple benefits, here they are:
The transactions via DBS India Remit are backed by DBS Singapore’s award-winning MoneySafe guarantee. You are automatically covered by this guarantee where in case of an unlikely event of an unauthorised transaction from your account, DBS Singapore will repay the money.
This guarantee covers the replacement of your money illegally transferred from your iBanking account. Click here to know more about MoneySafe.
Here are the fees and charges for crediting money to your DBS Bank India NRE account:
|International Funds Transfer||Service Charges|
|Credit to DBS Treasures Account for Inward remittance||Free|
|Returned funds for unapplied OTT / ITT (for inward remittance)||All INR 500 + Swift Charges|
Follow these simple instructions to remit money to India successfully:
You can remit money to anyone in India directly using your DBS Singapore account. All you need is their name, their DBS India account number and the currency of remittance, i.e. SGD. If you are transferring funds to family, it is more cost-effective to transfer funds to your DBS India NRE account and then send it forward.
With DBS India Remit, all you have to pay is the exchange rate. There are no additional service charge for transferring funds to India levied by DBS Bank India.