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Transfer Money from the Malaysia to India
The NRI community in Malaysia has been growing from strength to strength for years. While many Indians immigrate to Malaysia, they often have families and investments back home. To fulfil their financial commitments, they need to remit money to India regularly. For NRIs, DBS Treasures offers an easy way to send money to India – an NRE account.
At a Glance
Whether you want to send money for high-value transactions (such as buying property) or to facilitate payment of monthly utility bills, you can transfer money to an Indian NRE account using a remittance method of your choice. You can even hold an NRE account jointly (on a former or survivor basis) with a resident Indian relative, who can operate it for you on a power of attorney basis. Many NRIs find this a convenient arrangement.
An NRE account comes with various inward remittance benefits including:
- Preferential Exchange Rates: Enjoy preferential exchange rates if you choose to convert MYR to INR at the time of credit.
- No Service Charges: We do not charge any additional fee for credits to an NRE account from abroad. Only the Fx conversion fees are levied.
- One-day Credit: Within 24 hours* of receiving transfer instructions, DBS Treasures will credit the beneficiary NRE account.
NRE Account Benefits
- Open Your Account Remotely: You can open an NRE account from anywhere across the world
- Transfer Without a Limit: Fund your high-value transactions in India easily. There are no limits on the amount you can transfer to an NRE account
- Have Access to a Dedicated Relationship Manager: Get assisted by an experienced specialist in case you have any queries
- Carry Out Full Repatriation: You can send the money in your NRE account back to Malaysia without any limit or restrictions
- Get a Competitive Rate of Interest: DBS Treasures offers competitive interest rates on your NRE savings account
- Save Tax: Interest on an NRE account is tax-free in India
- Shop or Pay Bills: Invest in Indian securities, do online shopping, pay utility bills, donate to a charity of your choice – all online from our mobile banking app
- Enjoy Exclusive Privileges: Enjoy over 40 privileges as an NRE account holder including global medical and travel assistance, overseas educational concierge, property management services, etc.
DBS Treasures does not levy any additional service charge on inward remittances into 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
If you have a DBS NRE account, you can choose any method of transfer available to you – be it online remittance, wire transfer or bank-to-bank transfer. You will receive an SMS and e-mail notification the moment the transfer amount is credited.
If you do not have a DBS Treasures NRE account, apply for one now and start remitting the easy way!
How to Apply
Apply Now A Relationship Manager will reach out to you shortly.
Frequently Asked Questions
Yes, when you send money from Malaysia to India, we send you an SMS and e-mail alert the minute funds are credited.
While making the transfer in your resident country, opt for conversion at the time of credit to your NRE account. For more information, please contact our customer care: 1860 267 1234 / 1800 209 4555.
Yes, as per RBI directives, you must mention the reason behind the transfer of funds on your remittance form irrespective of the transaction amount.