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*Earn an annualized yield of 7.19% for 375 days, compounded quarterly. T&Cs apply.
NRE Fixed Deposit
NRE Fixed Deposits allow you to invest your foreign income in India in Indian rupees and earn tax-free interest at competitive rates.
DBS Treasures NRE fixed deposits are fully repatriable, though the investment you make is converted to Indian rupees. On repatriation, this amount can be converted into the currency of your choosing. The principal amount and interest earned on NRE fixed deposits are 100% tax-free.
Click here to view interest rates.
Features of NRE FD
An NRE Fixed Deposit is designed to provide NRIs with a secure and convenient investment option. It allows seamless account management while ensuring full repatriability of funds.
- Open an NRE Fixed Deposit with flexible tenures ranging from one year to 10 years.
- The NRE FD can be held jointly with more than one Non-Resident Indian (NRI).
- Easily renew your NRE Fixed Deposit online without any hassle.
- Assign a nominee to your NRE FD for added security and peace of mind.
- Enjoy full and free repatriation of both principal and interest.
Benefits of Opening an NRE Fixed Deposit Account with DBS
An NRE deposit helps NRIs grow their overseas earnings while benefiting from tax exemptions and repatriation flexibility.
- Both the principal and interest earned on an NRE FD are tax-free in India.
- Attractive NRE deposit interest rates can help maximise returns.
- Open an FD in an NRE account to ensure stable, repatriable earnings.
NRE Account Deposit Rates
DBS Treasures offers competitive NRE account deposit rates, enabling Non-Resident Indians (NRIs) to grow their foreign earnings in India. The interest rate on NRE fixed deposits varies based on tenure, ensuring flexibility for different financial goals.
For instance, the NRE deposit interest rates can go up to 7% per annum for a tenure of 1 year to 375-days , with an annualized yield of 7.19%, compounded quarterly. To explore the best NRE FD interest rates and to stay up to date, check the latest NRE FD Rates offered by DBS Treasures.
DBS Treasures also offers attractive rates on FCNR deposits, providing NRIs an opportunity to invest in foreign currency deposits while earning stable returns.
Eligibility Criteria FD in NRE Account
To open an FD in an NRE account, applicants must meet the following eligibility criteria:
- Non-Resident Indian (NRI) Status – Individuals of Indian nationality or origin residing outside India.
- Persons of Indian Origin (PIO) – Individuals holding a valid PIO or OCI card or other proof of PIO status as per the Customer Identification Policy.
NRIs can benefit from tax-free returns, full repatriability, and attractive interest rates by investing in an NRE fixed deposit.
Documents Required to open NRE Fixed Deposit
For NRI (Non-Resident Indian) and Persons of Indian Origin (PIO)
To open an NRE Fixed Deposit, NRIs and Persons of Indian Origin (PIOs) need to provide specific documents for verification. These documents help establish identity, residency status, and compliance with banking regulations. Below is the list of essential documents required for both NRIs and PIOs.
- Recent passport size colour photograph
- Your Indian PAN card or Form 60
- Copy of valid passport
- Proof of NRI status - Employment/Residence Visa copy or Work / Residence Permit
- Address proof (overseas and in India) as per Customer Identification Policy
- Additionally, for seafarers: Copy of CDC and last page with disembarkation stamp, current work contract and FEMA declaration
For PIO (Person of Indian Origin)
- Recent passport size colour photograph
- A valid passport
- Valid PIO/OCI card or other proof of PIO status as per Customer Identification Policy
- Address proof (overseas and in India) as per Customer Identification Policy
- Duly signed and filled-in PIO declaration
Once your DBS Treasures NRE savings account is opened basis the documents listed above, NRE fixed deposits can be booked online through the DBS Treasures internet or mobile banking platforms. You may also choose to submit an FD request form at the nearest DBS Treasures branch in India.
How to Open an NRE Fixed Deposit
You can open a DBS Treasures NRE FD Account either online or offline. Contact a Relationship Manager and set up an NRE FD account in seconds
Frequently Asked Questions
NRE Deposits are fixed deposits held by Non-Resident Indians (NRIs). As an NRI, you can deposit foreign currencies and open fixed deposits in Indian Rupees. NRE fixed deposits are like regular fixed deposits but are tax-free and fully repatriable.
NRE fixed deposits enable you to earn tax-free interest on your foreign currency earnings at competitive interest rates. Both the principal and interest in NRE fixed deposits are freely and fully repatriable as well.
You can maintain your NRE fixed deposit account in Indian rupees only.
The payment of interest on NRE fixed deposits is dependent on the type of term deposit booked. For cumulative deposits, interest is paid out at the time of maturity. For quarterly pay-out NRE fixed deposits, the interest is paid out in every quarter.
Yes, it is possible to break NRE fixed deposits before the maturity date. However, to be eligible for interest payments, NRE fixed deposits must be maintained for a minimum of 12 consecutive months. Additionally, pre-closure charges may apply on NRE fixed deposits. You can learn more about the applicable NRE deposit pre-closure charges in detail.
If you do not withdraw the amount in your NRE fixed deposits upon maturity, it will be automatically renewed for the same tenure if you have provided auto-renewal instructions. Else, the amount will be credited into your NRE savings account. In the case of auto-renewal, the interest rate prevailing on the maturity date will be applicable for the renewed deposit.
Yes, you can open NRE fixed deposits jointly with another non-resident Indian. You can also assign a nominee for the FD account.
As per current RBI guidelines, funds placed in an NRE fixed deposit are entirely exempt from income tax in India. This makes NRE deposits a preferred investment option for NRIs looking to earn tax-free returns while enjoying competitive NRE deposit interest rates.
