NR Onboarding Terms and Conditions

Customer Declaration

I/We wish to open the above stated account and confirm having read and understood the terms and conditions governing accounts/deposits linked to my/our Account and hereby agree to be bound by the terms and conditions and amendments governing the accounts or changes thereof and further amendments made by the Bank from time to time. The copy of terms and conditions is available on the DBS Bank India Limited (“Bank”) website www.dbsbank.com/in and is also available at the Bank’s branch in India. I/We declare and confirm that I/We have read and understood the terms and conditions, Tariff schedules available on the website of DBS Bank India Limited related to the Bank’s all products and services, but not limited to the Bank's tariff regarding the operation/conduct of the accounts/deposits and pertaining to general banking, phone banking, ATM/Debit Cards, Doorstep Banking, Mobile banking, Internet Banking and Electronic Banking facilities (collectively referred to as “the said banking facilities”) and agree to be bound and abide by them/any other rules that may be in force from time to time. I/We are aware of Charges/fees applicable for the said banking facilities. I/We hereby agree to be bound by the revised charges/tariff applicable from time to time available on the Bank’s website for the said all banking facilities. The terms and conditions for the said banking facilities will be in addition and not in derogation of the terms and conditions relating to the conduct of the my/our Account(s). I/We undertake to strictly operate and use the Account(s) and said banking facilities in accordance with exchange control regulations as laid down by Reserve Bank of India (RBI) or any other authority from time to time. In the event of any failure on our part to comply with all or any of the guidelines/rule/law laid down by RBI, the Bank, Government of India, or any other duly constituted body or authority, we agree to forfeit all rights to the account and the said banking facilities and further agree to be debarred from holding/operating and using the Account(s) and/or the said banking facilities. In the event of any default or breach committed by me/us of any of the aforesaid provision, guidelines, rules, indemnity, terms and conditions, or any law or statute, I/We shall indemnify the Bank for any loss or damage that may be caused to it. The Bank may adopt such action as it deems fit on the happening of such event. I/We hereby expressly authorise the Bank to disclose at any time and for any purpose any information whatsoever relating to my/our particulars, account, deposit, transactions or dealings with the Bank to any court of competent jurisdiction, quasi judiciary authority, Law Enforcement Agency, Relevant Wing Of State Government, RBI, Income Tax Authorities, Statutory Authorities, Financial Institutions, Credit Bureaus / Agents / Vendors or any Company which is an affiliate or associate or subsidiary or group company of the Bank. I/We hereby indemnify and shall keep the bank indemnified from time to time and at all times against all and any act/actions, claims, proceedings, cost, charges, losses (direct or consequential) and expenses which the bank may suffer or incur or be put to for any reason whatsoever by reason of the Bank having acted on the fax, message sent by me/us. I/We agree that at our request Bank shall send me/us the monthly/quarterly statement(s) of accounts via e-mail, to the e-mail address specified by me/us. I/We understand that Internet transmission lines are not encrypted and that e-mail is not a secure means of transmission. I/We acknowledge the risk of possible unauthorised alteration of data and/or unauthorised usage thereof to whatsoever purposes. I/We agree to exempt Bank from any and all responsibility/liability arising from such misuse and agree not to hold the Bank responsible for any such misuse and further agree to hold Bank free and harmless from all losses, costs, damages, expenses that may be suffered by me/us due to any errors, delays or problems in transmission or unauthorised/illegal interception, alteration, manipulation of electronic data or otherwise caused by using e-mail as a means of transmission. I/We undertake to inform Bank of any change in my/our domicile status. I/We hereby declare that I am/we are Non Resident Indian(s) of Indian origin. I/We further confirm that myself/ourselves/parents/grandparents was/were citizens of India by virtue of constitution of India or Citizenship Act 1955 (57 of 1955). I/We hereby declare that I am /We are Non Resident Indian(s) (“NRI”) as defined under the Foreign Exchange Management Act, 1999, and the Rules and Regulations made there under (hereinafter referred to as “FEMA”). I/We understand that the above account will be opened on the basis of the statements/declarations made by me/us and I/we also agree that if any of the statements/declarations made herein is found to be not correct or false in material particulars, the Bank is not bound to pay any interest on any deposit made by me/us and the Bank may close the account immediately without reference to me/us. I/We confirm that the Non-Resident accounts (NRE/NRO and FCNR) opened with the Bank shall be operated and maintained for the purpose of conducting bona fide transactions in Rupees and permissible currencies (as may be designated by Reserve Bank from time to time) in accordance with the provisions of the Foreign Exchange Management Act, 1999 (‘Act’) and the rules and regulations made there under and that such opening, operation and maintenance shall not in any manner contravene or violate the provisions of the Act and the rules and regulations made there under. I/We understand, it is my/our responsibility to comply with tax laws and accordingly I/We would comply with the worldwide tax reporting and filing obligation as applicable. I/We understand that NRE Accounts/NRE Fixed Deposits/ FCNR (B) accounts/deposits held jointly with resident close relative (relative as defined in Section 6 of the Companies Act, 1956) can be operated only on ‘Former or Survivor’ basis. For the purpose of and in the course of providing services/ certain services, the Bank is/may be required to engage the services of specialised another service providers / agents. I/We confirm and agree that the Bank may furnish any information regarding my/our account/deposits to these service providers /agents. I/We hereby provide my/our consent for sharing my details mentioned above with Central KYC Registry. I hereby consent to receiving information from Central KYC Registry through SMS/Email. I/We understand that the sole/ first deposit holder will be regarded as the beneficial owner of the fixed deposit and considered as payee for the payment of interest on the fixed deposit and repayment of principal either on maturity or prematurely. The sole/first deposit holder will be regarded as the beneficial owner for the purpose of deduction of tax at source as required under the Income Tax Act, 1961 from the interest of such fixed deposit. In the absence of any maturity disposal instructions, the fixed deposit will be rolled over for the above mentioned tenure at prevailing rates. The currency of the deposit will be any of the below: (1) The original currency if no forwards are booked (2) If a forward is booked final currency after settlement of the forward. I/We shall ensure that only permissible credits and debits (as defined by Reserve Bank of India) from time to time are made into my/our NRO/NRE/FCNR (B) Accounts maintained with the Bank[y1] . FOR NRO ACCOUNT: I/We undertake that in case of debits to the NRO account for the purpose of investment in India, and credits representing sale proceeds of investments, I/we will ensure that such investments/disinvestments will be in accordance with the regulations made by the Reserve Bank of India in this regard. I/We would confirm that all debits to my/our accounts for the purpose of investment in India and credits representing sale proceeds of investments in India are covered either by general or special permission of RBI. I/We confirm that upon opening and operating my/our NRO account, I/we shall not make available to any person resident in India, foreign currency against reimbursement in Rupees or in any other manner in India. I/We understand that NRO accounts may be held jointly with residents and non – residents Indians. I/We hereby declare that all foreign exchange transactions as may be entrusted by us to the Bank or entered into from time to time do not involve and are not designed for the purpose of any contravention or evasion of the provisions of the aforesaid act or of any rule, regulation, notification, direction, or order made . I/We also hereby agree to undertake to give such information/document that will reasonably satisfy you about the transaction in terms of the above declaration. I/We also understand that if I/We refuse to comply with any such requirement or (make only unsatisfactory compliant therewith) the Bank shall refuse in writing to undertake the transaction and shall if it has reason to believe that any contravention/evasion is contemplated by me/us, report the matter to RBI. I/We are aware that any person resident outside India (other than a person resident in Nepal and Bhutan) may open NRO account with an authorised dealer for the purpose of putting through bona fide transactions in rupees not involving any violation of the provisions of any act, rules and regulations made there under. I/We are aware that the principal of deposits in NRO accounts is non-repatriable, however current income and interest earnings is repatriable. I/We are aware that NRO account can be opened by a foreign national of non-Indian origin visiting India, with funds remitted from outside India through banking channel or by sale of foreign exchange brought by me/us to India. I/We further confirm that the account will be closed by me/us on leaving India or within a period not exceeding six months whichever is earlier. The balance in the NRO account may be converted by the Authorised Dealer bank into foreign currency for payment to the account holder at the time of his departure from India provided the account has been maintained for a period not exceeding six months and the account has not been credited with any local funds, other than interest accrued thereon. In case the account has been maintained for a period more than six months, applications for repatriation of balance will have to be made by the account holder concerned on plain paper to the Regional Office concerned of the Reserve Bank. I/We shall ensure that only permissible credits (as defined by Reserve Bank of India) from time to time are made into my/our NRO account maintained with the Bank. I/We hereby confirm that I/We have read and understood the rules, regulations, and guidelines as issued by RBI from time to time pertaining to the credits in the NRO account. I/We, am/are the beneficial owner(s) & ultimately own or have effective control of the above account

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Authority to send statements and advices through mail:

#Any addition/deletion of email Ids mentioned above will be communicated to you in writing signed by the persons authorised to give instruction in accordance with the account mandate. All the terms and conditions set out herein shall be applicable to such additions/changes.

I/We hereby authorise you (DBS Bank India Limited) to send the above mentioned statement of accounts/advices to registered email id. I/We am/are aware that email is not a secure or error-free medium of communication and I/We am/are aware of the possible risks involved in connection with the transmission of information via email. We accept and acknowledge that the Bank does not accept liability for any errors or omissions in the content of the email messages and its attachments. I/We undertake to keep you indemnified at all times against, and to save you harmless from all actions, proceedings, claims, loss, damage, costs and expenses including consequential losses/damages which may be brought against you and which shall have arisen either directly or indirectly out of or in connection with your sending the details mentioned above to us through email.

• The physical copies of the Account opening form and documents should reach DBS Bank India Limited within 10 working days of the submission of scanned forms. In case of non-receipt of the physical copies within the stipulated time frame (10 working days) the account will be put on debit freeze mode.
• This is applicable to only overseas account opened through online overseas account opening process

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Please Note:

1. Applications received without adequate documentation as mentioned in the above checklist may result in delay in processing or rejection of the form.
2. For NRI students, please provide photocopy of letter of enrolment to overseas university.
3. You may open accounts in the following holding pattern: Singly - this refers to sole accounts. Joint - an authorisation from all the joint accountholders is required for every transaction. Joint (Either or Survivor) - anyone of the joint accountholders can authorise the transaction in his individual capacity. Joint ( Anyone or Survivor) - anyone of the joint accountholders can authorise the transaction in his individual capacity
4. The original certified copy, certified by any one of the following, may be submitted:
   • authorised officials of overseas branches of Scheduled Commercial Banks registered in India,
   • branches of overseas banks with whom Indian banks have relationships,
   • Notary Public abroad,
   • Court Magistrate,
   • Judge,
   • Indian Embassy/Consulate General in the country where the nonresident customer resides. The name, address, identity reference and stamp of the attesting official must be clearly evident.
5. P.O. Box Address Proof (only for Middle East countries): The P.O. Box address is acceptable as communication address along with latest document supporting both communication and residential address. The residential address proof submitted by the client should mention the street name / building name as on any of the submitted documents.
6. You can submit a power of attorney (as per bank’s format) in case you wish to mandate a third party to operate your account to know more kindly contact your Treasures Relationship Manager
7. Kindly ensure that photocopies of all proofs submitted are clear and visible.
8. Your initial account funding needs to be done either through a cheque deposit or fund transfer via NEFT/RTGS or an inward remittance, from your own account held in another bank. Transactions in your DBS India account will be permitted only after a successful credit through any of the permissible methods mentioned herein

We jointly agree and authorize DBS bank India Limited to permit premature withdrawals of the fixed deposit by survivor/s in the event of the death of the deposit holder/s before maturity.