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Transfer Money from Australia to India
A large number of Indians migrate to Australia in search of an opportunity to study and pursue a career. Many stay on and become NRIs but retain close personal, emotional and financial ties with India. To meet commitments in their native country, NRIs often have to transfer money from Australia to India.
DBS Treasures offers the diaspora an easy way to manage their finances in India through an NRE account. NRIs can remit their foreign exchange earnings easily and quickly to the NRE account and then use the funds to pay for their financial commitments in India.
At a Glance
An NRE account allows NRIs to remit money to India and repatriate the same back to their resident country any time they wish. You can choose any convenient method of money transfer in Australia to send money to an NRE account in India. There are many benefits of using an NRE account to manage your India expenses.
An NRE account comes with various inward remittance benefits including:
- Preferential Exchange Rates: As an NRE account holder, you can get preferential rates if the conversion from AUD to INR takes place at the time of credit.
- No Service Charges: DBS Bank levies no additional services charges for credits to an NRE account from abroad. Only the Fx conversion fees will be levied.
- Speedy Credit: When you transfer to an NRE account, the beneficiary account gets credited within 24 hours* of DBS Treasures receiving instructions.
NRE Account Benefits
- Open an Account Remotely: You can open an NRE account from anywhere across the world
- Hold a Joint Account: You can open a joint account along with a resident Indian relative on a former or survivor basis who can manage the account as a power of attorney holder, or you can open one with a Non-Resident Indian
- Get a Dedicated Relationship Manager: An experienced specialist is easily accessible in case you have any queries
- Send money back to Australia: You can repatriate the money in your NRE account back to Australia any time you wish
- Initiate Large transfers: You can now easily make high-value transactions as there is no limit on transfers to an NRE account
- Avail Competitive Rates of interest: Get higher interest rates with your DBS Treasures NRE account
- Get Tax Benefits: The interest you earn on an NRE account is not taxable in India
- Pay Bills: Shop, invest or pay utility bills online in India from our internet banking platform or our mobile app
- Enjoy family privileges: A DBS Treasures NRE account comes with over 40 privileges, including global travel and medical assistance, educational concierge for your children, property management service, tax and trust planning, legal services, etc.
DBS Bank does not levy any additional service charges on money transferred to an NRE account.
|International Funds Transfer||Service Charge|
|Credit to DBS Treasures Account for Inward remittance||Free|
|Returned funds for unapplied OTT / ITT (for inward remittance)||All INR 500 + Swift Charges|
Money Transfer Options
Sending money to an NRE account from Australia to India is easy. Choose any convenient method available to you, provide your NRE account details and the relevant documents to make a transfer. We will intimate you the instant your account is credited with the funds via an e-mail and SMS.
If you do not have an NRE account, then you can open one easily by reaching out to us.
How to Apply
Apply Now A Relationship Manager will reach out to you shortly
Frequently Asked Questions
I want to send money to pay for property investment. Can I make such a high-value transaction through my NRE account?
Yes. There is no limit to the amount of money you can remit to an NRE account. You can transfer large amounts of foreign earnings to an NRE account where it is converted into INR. You can then use the funds to make payments in India.
DBS Bank offers high interest rates to NRE customers. You may click here to check the current rate of interest on our savings account.
With a DBS Treasures NRE account, you have access to over 40 privileges. These include global travel and medical assistance, an educational concierge for your children, property management services, tax and trust planning, legal services, etc.