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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.

 

Inward Remittances

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.

*T&Cs Apply


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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.

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Service Charges

DBS Bank does not levy any additional service charges on money transferred to an NRE account.

International Funds TransferService Charge
Credit to DBS Treasures Account for Inward remittanceFree
Returned funds for unapplied OTT / ITT (for inward remittance)All INR 500 + Swift Charges
 

Money Transfer Options

There are many ways to send money from Australia to India like foreign demand drafts (foreign DD), wire transfers, etc. However, if you are looking to fund your NRE account in the fastest possible way, you can choose online remittances.

How to Send Money to India Online from Australia

Here are simple steps to send money from Australia to India quickly:

Step 1: Open an NRE account with DBS Treasures remotely. In case you need help, a dedicated Relationship Manager is just a call or e-mail away.

Step 2: Log in to your local bank account and choose remittances or a similar option like international funds transfer.

Step 3: Enter your Customer ID or registered mobile number, your bank details may appear automatically on the screen once you enter your mobile number or Customer ID.

Step 4: Add or select your beneficiary. Here you should add your DBS Treasures NRE account.

Step 5: Check if your information is correct, e.g. bank account number, IFSC and SWIFT Codes, etc.

Step 6: Click 'Submit' or an equivalent option.

You will receive an e-mail or SMS alert from DBS Treasures once you get the credit in your NRE account.

If you do not have a DBS Treasures 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

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.

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