- Banking
- Wealth
- Privileges
- NRI Banking
- Treasures Private Client
At a Glance
Manage your finances in India while residing in the United Kingdom with DBS Treasures. Our Non-Resident External (NRE) Savings Account is a perfect fit for you, whether you want to remit funds or make investments in India. Enjoy 100% tax-free interest income with total repatriation of funds with DBS NRE Accounts.
NRE Savings Account from UK
The United Kingdom boasts of some of the best universities and the largest business conglomerates in the world. It is no wonder that the country has a significant immigrant population. A record number of Indians move to the UK each year for better life prospects. Such Non-Resident Indians can continue managing their finances back home in India with DBS Treasures Non-Resident Savings Accounts from UK. As an NRI, you can open NRE Savings account remotely from UK and enjoy benefits like 100% tax-free repatriation of funds, exclusive DBS bank privileges, and more.
NRE Account from UK – Features and Benefits
- Earn competitive interest rates on your NRE Savings Account deposits.
- Repatriate the principal and tax-free interest earned to your local account in the UK without any upper cap limit.
- GBP deposited in NRE Savings Accounts from UK is automatically converted to INR at the applicable forex exchange rates.
- Transfer money from your NRE Account from UK conveniently into your Non-Resident Ordinary (NRO) or Foreign Currency Non-Resident (FCNR) accounts in India.
- Withdraw money in GBP and INR during your stay in the United Kingdom and India, respectively.
- Open NRE Savings Account from UK individually or jointly with another NRI, Resident India, or Person of Indian Origin (POI) on either or survivor basis.
- Use your NRE Account deposits to invest in Indian Real Estate, Mutual Funds, and NRE Fixed Deposits.
- Withdraw money using your DBS Treasures international debit card while in the UK or India.
- Access and track your NRE Account transactions conveniently at any time through our internet banking and mobile banking facilities.
- Assign a Power of Attorney to conduct limited transactions on your behalf.
Fees and Charges
Get the full schedule of NRE Account fees and charges here.
Eligibility Criteria for opening NRE Account in UK
You can open NRE Savings Account if you are:
- A Non-Resident Indian, i.e., an Indian citizen residing abroad for education, employment, or business purposes.
- A Person of Indian Origin (POI) or Overseas Citizen of India, whose parents or grandparents were Indian citizens as per the Indian Citizen Act, 1955.
- An Indian citizen, officially posted in the UK by the Government of India or a public sector undertaking.
- A mariner or seafarer of Indian nationality employed to work on oil rigs or registered shipping companies abroad.
- An individual who has previously held an Indian passport in the past.
- An Individual whose spouse is an Indian Citizen.
Documents Required for opening NRE Savings Account in UK
The list of documents required to open NRE Account for Indians staying in UK include:
For Non-Resident Indians
- Latest passport size colour photograph.
- Copy of PAN card or duly filed Form 16.
- The first and last page of a valid passport bearing your personal details and photograph.
- Proof of NRI status – valid work permit or visa.
- Address proof of both foreign and Indian residence.
For Person of Indian Origin and Over-seas Citizens of India Card Holders
- Latest passport size colour photograph.
- Copy of PAN card or duly filed Form 16.
- The first and last page of a valid passport bearing your personal details and photograph.
- Proof of PIO/OCI status, i.e., PIO/ OCI Card of any other identity proof document per the Customer Identification policy.
- Address proof of both foreign and Indian residence.
- A dully filled PIO declaration form.
For Seafarers
- Latest passport size colour photograph.
- Copy of PAN card or duly filed Form 16.
- The first and last page of a valid passport bearing your personal details and photograph.
- Proof of NRI status – valid work permit or visa.
- Address proof of both foreign and Indian residence.
- A copy of the current work contract and Continuous Discharge Certificate (CDC) with disembarkation stamp affixed on the last page
- Duly filled FEMA declaration form confirming NRI status.
How to Open NRE Savings Account from UK?
Open NRE Savings Account online from UK by filling a form on the DBS Treasures website.
A DBS Treasures Relationship Manager will contact you shortly.
Frequently Asked Questions
DBS Treasures pays interest on Non-Resident External Savings Account at quarterly intervals each year. You will receive interest on your NRE Account deposits on the last day of March, June, September, and December of each year, subject to changes.
Yes, you can. The nominee can be a Resident Indian or NRI. You can assign only one nominee per account. You may also assign a Resident Indian Power of Attorney to conduct basic payments and transactions on your behalf.
Yes, you can open the NRE account in GBP and other foreign currencies. Once deposited the foreign currency is converted to INR at applicable forex rates.
