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.
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:
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|
You can choose to send money from Malaysia offline through foreign demand drafts or online via wire or bank-to-bank transfers. Online remittances into your NRE account are faster and more convenient. Also, you can send as many funds as you want in a year.
How to Send Money to India Online from Malaysia
Let us look at how you can transfer money from Malaysia to India conveniently through an NRE account:
Step 1: Open a DBS Treasures NRE savings account. It is possible to open one remotely; we have dedicated Relationship Managers to help you with the process.
Step 2: Log in to your savings account abroad and choose remittances or a similar international funds option.
Step 3: Enter your Customer ID or mobile number along with your bank account details.
Step 4: Select or add your beneficiary DBS Treasures NRE account.
Step 5: Check if you have entered the right information, (e.g. account information, IFSC code, SWIFT code, etc.)
Step 6: Click on ‘Submit’ or an equivalent button.
Once the money is deposited in your NRE account, we will send you an alert via SMS and e-mail. There is no upper limit when you transfer money to India from Malaysia with this account.
If you do not have a DBS Treasures NRE account, apply for one now and start remitting the easy way!
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.