Dubai has been a hub for Non-Resident Indians for a long time. Many Indians settled in UAE retain a lot of ties to India, both financial and familial, and to fulfil their obligations back home, they often need to transfer money to India. A DBS Treasures NRE account provides NRIs with a convenient way to send money from Dubai to India.
Sending money to an NRE account is one of the easiest ways to manage your expenses in India - be it investments, family expenses, bill payment, school fees or donations. You can send as much money as many times as you like, without any limits, to an NRE account in India. You can also repatriate the money back to Dubai whenever you wish. There are many quick and easy money transfer options available to credit your NRE account in India.
An NRE account comes with various inward remittance benefits including:
DBS Treasures has waived off any additional service charges on inward remittance, irrespective of the amounts transferred. Here is a summary of the remittance charges.
|International Funds Transfer
|Credit to DBS Treasures Account for Inward remittance
|Returned funds for unapplied OTT / ITT (for inward remittance)
|All INR 500 + Swift Charges
If you have an NRE account, you may choose any transfer option – such as foreign demand drafts, wire transfers or bank-to-bank transfer – available to you. Online remittances are faster because we can credit funds to your account within 24 hours* of receiving instructions.
How to Send Money to India Online from Dubai
It is extremely easy to send money from Dubai to India through an NRE account.
Step 1: Open a new DBS Treasures NRE savings account from anywhere. Our dedicated Relationship Manager will help you get started.
Step 2: Log in to your local savings account abroad and choose an international funds transfer or a remittance option.
Step 3: Enter your Customer ID or mobile number on the online form; your bank account details may appear automatically.
Step 4: Select or add your beneficiary account (in this case, your NRE savings account); you need to add a beneficiary only once. In case you have a DBS Treasures NRE account, you can select the same.
Step 5: Check if all the information entered is correct (e.g. account information, IFSC code, SWIFT code, etc.)
Step 6: Click on ‘Submit’ or an equivalent button.
In case your beneficiary account is your DBS Treasures NRE account, you will get an SMS or e-mail confirmation from DBS Treasures. With an NRE account, there is no upper limit on the funds that you can transfer to India from Dubai.
You can transfer money to India as often as you need. There is no limit on the number of times you can transfer money.
There is no upper limit on the transaction amount. You can send as much money as you like.
As an NRE account holder, you are entitled to benefits such as preferential rates on remittances, real-time tracking of transactions and same-day credits.