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At a Glance
For Non-Resident Indians (NRIs), reliable and robust international money transfer services are essential; that’s where remittances become extremely important. DBS Treasures clients benefit from fast and cost-effective remittance services throughout the year.
Fast and secure
Experience same-day remittances backed by a guarantee
Preferential rates
Attractive forex rates at zero commission or handling fees
Easy transfer
Quick and simple digital banking processes allow you to remit funds easily
Inward Remittances
An NRE account comes with various inward remittance benefits including:
- Preferential Exchange Rates: Convert your remittance from your foreign currency to INR at the time of credit and enjoy preferential rates.
- No Service Charges: Credits to an NRE account do not attract any additional service charges. Only the Fx conversion fees will be levied.
- Speedy Account Credits: When you transfer money to a DBS Treasures NRE account, we credit the funds within 24 hours* of receiving instructions.
DBS India Remit
This facility is for NRI customers who are based out of Singapore. Once they open a DBS Treasures account in Singapore, they can register for iBanking and provide details of their account in Singapore for remittance. They also need to provide details of the recipient account in India to complete the remittance process.
Mentioned below are the benefits of DBS India Remit:
- Fastest and most cost-effective way to remit funds between Singapore and India
- Beneficiaries credited within 24 hours of DBS Treasures receiving instruction (before 11:30 AM IST)
- Fixed preferential exchange rates at the time of the transaction, with customers notified of the exact rupee amount to be credited
- SMS updates on the transaction status
- Transactions backed by our award-winning MoneySafe* guarantee
Outward Remittances
DBS Treasures customers enjoy preferential forex and commission rates for outward remittances
- International money transfers to over 150 countries in more than 20 currencies
- Lowest service fee on remittances in the market
- Funds delivered the next day
- Fixed preferential exchange rate at the time of remittance
- Fastest way to remit funds to Singapore
- Remit funds without any commission or handling fees
Fees and Charges
| International Funds Transfer | Fees and Charges |
|---|---|
| Outward Remittances | Free (Correspondent bank and third party charges apply) |
| Credit to DBS account for inward remittances from other banks | Free |
| Returned funds for unapplied OTT / ITT | All INR 500 + Swift Charges |
Click here for correspondent bank details.
*MoneySafe guarantee details.
How to Apply
Open an NRI Savings Account
A Relationship Manager will reach out to you shortly.
Frequently Asked Questions
Yes, the Reserve Bank of India (RBI) has outlined FEMA guidelines for outward remittances from India.
No, there is no limit on the amount that can be remitted from NRE accounts.
NRO accounts can be used to remit money outside India and up to USD 1 million can be remitted overseas every year.
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