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At a Glance
The United Kingdom is a popular destination for Indians aspiring to live abroad for educational and professional reasons. As a Non-Resident Indian in the UK, you can continue managing your finances in India, deposit your GBP, and grow your savings with DBS Treasures NRI Savings Accounts.
The one-stop solution for the global Indians based abroad, DBS Treasures offers NRE and NRO Savings Accounts. Earn competitive interest rates of 3% on your NRI Accounts. Also, remit money to India at preferential currency conversion rates and enjoy 40+ custom-curated privileges with your DBS Treasures NRI Accounts.
NRI Savings Account in The UK – Features & Benefits
FCNR Deposits: Book foreign currency deposits in GBP and five other major currencies. Earn interest in the deposit currency and protect the deposit from forex rate fluctuations.
Taxation: Enjoy tax exemption on NRE Account interest earnings and pay a nominal Tax Deducted at Source on NRO interest income.
Online Account Opening: Open your DBS NRI Savings Bank Account online with guidance from our team of dedicated relationship managers.
NRE Savings Account in the UK
Conveniently deposit your UK earnings in Non-Resident External (NRE) Accounts. The GBP parked in the account is automatically converted to INR at applicable forex rates. Enjoy total repatriation of funds in the account in the UK.
NRE Account Features
- DBS provides competitive interest rates of up to 3%* per annum on NRE Accounts. You may also open DBS NRE Fixed Deposits to earn higher interest income.
- You can freely repatriate the funds you deposit, and the interest paid by the bank without paying any income on the interest earnings.
- Open your NRE Savings Accounts jointly with another NRI or Person of Indian Origin (PIO).
NRO Savings Account in the UK
Park your GBP and INR earnings in DBS’ versatile Non-Resident Ordinary (NRO Accounts). Pay for your Indian expenses like loan EMIs, insurance premiums, utility bills through NRO Savings Bank Accounts. Also deposits rental income from Indian properties, gains from investments, pension income, etc., in this account.
NRO Account Features
- GBP is automatically converted to INR at the existing forex rates.
- Get 3%* p.a. interest on NRO your Account deposits
- Increase your interest earnings by opening NRO FDs with flexible tenures.
How to Open NRI Savings Account in the UK
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Frequently Asked Questions
You should open NRI Savings Accounts if you have expenses, income sources, or financial dependents in India. These accounts enable you to ensure the financial security of your dependents, while you can also save in INR and pay for your Indian expenses.
You can open NRI Savings Accounts from UK by visiting the DBS website and filling a short online form. Once you do so, a DBS relationship manager will reach out to assist you with the account opening process.
Yes, you can. The nominee can be a Resident India, NRI, PIO or OCI.
