- Banking
- Wealth
- Privileges
- NRI Banking
- Treasures Private Client
At a Glance
DBS Treasures allows Non-Resident Indians to open NRI accounts and invest their money through fixed deposits at competitive interest rates.
The interest rates are different for each type of term deposit account i.e. NRE, NRO and FCNR accounts. For FCNR deposits, the rate of interest also varies based on the currency the account is held in.
Opening a fixed deposit is beneficial for NRIs since it allows for:
- Secure investments
- A convenient way to deposit and save money earned in India via NRO fixed deposits
- A safer way to grow your overseas earnings via NRE and FCNR fixed deposits
- High returns
Types of fixed deposits
NRE Fixed Deposit
DBS Treasures NRE fixed deposit accounts enable you to earn competitive interest on your foreign currency earnings. DBS Treasures NRE fixed deposits are fully repatriable. Moreover, interest earned on NRE deposits is tax-free in India.
NRO Fixed Deposit
DBS Treasures NRO fixed deposit accounts allow for higher interest earnings on income earned in India while you are overseas. DBS Treasures NRO fixed deposits can be opened jointly with resident or non-resident Indians.
FCNR Deposit
When you are abroad and earning in foreign currency, you may still want to retain some of your funds in India. Your best option could be a Foreign Currency Non-Resident Fixed Deposit, commonly known as FCNR deposit. Deposit funds in foreign currencies and earn higher interest rates with an FCNR FD.
Interest Rates
NRE Fixed Deposits
Rates w.e.f. 15th February, 2024
|
Tenure |
Interest Rate p.a. |
|
1 year to 375 days |
7.00% |
|
376 days to 540 days |
6.50% |
|
541 days to less than 2 years |
6.25% |
|
2 years & less than 2 years 6 months |
5.75% |
|
2 years & 6 months |
5.25% |
|
2 years 6 months 1 day & less than 3 years |
5.25% |
|
3 years and less than 4 years |
5.00% |
|
4 years to less than 5 years |
5.00% |
|
5 years and above |
5.00% |
For NRE fixed deposits of INR 3 crore and above, please contact your Relationship Manager or nearest branch in India.
NRO Fixed Deposits
Rates w.e.f. 11th December, 2023
|
Tenor |
Regular |
|
7 days |
2.50% |
|
8 days & up to 14 days |
2.75% |
|
15 days & up to 29 days |
4.00% |
|
30 days & up to 45 days |
4.50% |
|
46 days & up to 60 days |
4.50% |
|
61 days |
5.00% |
|
62 days & up to 90 days |
5.00% |
|
91 to 180 days |
5.00% |
|
181 to 269 days |
6.00% |
|
270 to less than 1 year |
6.00% |
|
1 year to 375 days |
7.00% |
|
376 days to 540 days |
7.50% |
|
541 days to 599 days |
7.25% |
|
600 days |
7.25% |
|
601 days to less than 2 years |
7.25% |
|
2 years to less than 2 years & 6 months |
7.00% |
|
2 years & 6 months |
7.00% |
|
2 years 6 months 1 day & less than 3 years |
7.00% |
|
3 years and less than 4 years |
6.50% |
|
4 years to less than 5 years |
6.50% |
|
5 years and above |
6.50% |
For NRO fixed deposits of INR 3 crore and above, please contact your Relationship Manager or nearest branch in India. A simple interest rate will be paid on fixed deposits below 6 months. For fixed deposits of 6 months or above, interest will be compounded quarterly.
FCNR Deposits
Please reach out to your RM / Branch for the latest FCNR rates.
Deposits Terms and Conditions:
The Bank shall, on written request from all depositors, allow withdrawal of a Resident / NRO Term deposits and NRE / FCNR Deposits before the date of its maturity. The interest on prematurely withdrawn Resident/NRO Term Deposits and NRE / FCNR deposits will be paid for the period that such deposit is held, at the rate prevailing on the date of placement of such deposit or the contracted rate, whichever is lower, subject to a deduction of a 1% penalty.
However, no interest will be paid in case of NRE / FCNR Deposits prematurely withdrawn before the expiry of 1 (one) year from the date of deposit or its renewal.
For detailed terms and conditions click here.
Frequently Asked Questions
After returning to India, the customer needs to inform DBS Treasures of his/her return. The NRI savings account will then be converted to a resident Indian savings account once the relevant documentation is submitted.
The NRI FD will remain as-is until maturity after which it will be credited to the resident Indian savings account held by the customer.
NRI FD interest rates are different from domestic FD interest rates.
