FCNR Interest Rates

Open an NRI Account

At a Glance

As an Indian living overseas, one option you have for investing your money intelligently in India is a Foreign Currency Non Resident (FCNR) account. DBS Treasures FCNR account is a convenient way of depositing your money and ensure that the principal amount and interest you earn are both tax-free in India.

FCNR deposits in India offer competitive interest rates and are protected against currency fluctuations as the investments are held in foreign currency.

To open an FCNR deposit account with DBS Treasures, click here.

Features and Benefits

• Tenures ranging from 1 to 5 years
• Competitive interest rates
• Six currencies available
• No minimum deposit amount
• Interest and principal are exempt from income tax
• Easy to open

Open an NRI Savings Account

FCNR Interest Rates

Rates with effect from 01 Mar 2024

Please check with your branch/relationship manager on the date of booking deposits for documentation and deposit interest rates across currencies which are subject to change from time to time.

Open an NRI Account

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 prior to 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 The interest on prematurely withdrawn Resident / NRO Term Deposits and NRE / FCNR deposits will be paid for the period that such deposit is held, at the rate prevailing on the date of placement of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However, no interest will be paid in case of NRE / FCNR Deposits prematurely withdrawn before the expiry of 1 (one) year from the date of deposit or its renewal.

Please note that pre-closure charges of 1% will be applicable on all Term Deposits booked / renewed on or after 15th April 2019.

For detailed terms and conditions click here.

Open an NRI Savings Account

Documents Required

Here are some of the documents needed to open FCNR deposits:

For NRI (Non Resident Indian)

• Copy of your passport
• Proof of your NRI status, via valid Employment / Residence Visa copy or Work / Residence Permit
• Address in India and overseas along with proof (as per Customer Identification Policy)
• Your Indian PAN card or Form 60
• A recent passport size colour photograph
• Additionally, for Seafarers: Current work contract and a copy of CDC along with the disembarkation stamp on the last page and your FEMA declaration

For PIO (Person of Indian Origin)

• Copy of your passport
• Copy of your PIO/OCI card or any other proof of PIO status (as per Customer Identification Policy)
• Your address in India and overseas with proof (as per Customer Identification Policy)
• Duly signed and filled-in PIO declaration
• Copy of Indian PAN Card or Form 60
• A recent passport size colour photograph

How to Apply

Open an NRI Account

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