FCNR Deposit: Open FCNR Fixed Deposit Account by DBS India

FCNR Account

Open FCNR Account

FCNR Account (Foreign Currency Non-Resident)An FCNR deposit account is a fixed deposit maintained in a designated foreign currency, enabling Non-Resident Indians to earn tax-free interest in that same currency.You can stay protected against forex rate fluctuations as your investment continues to grow in the same currency you choose to invest. Plus, you get competitive interest rates, the income earned is tax-free and you can repatriate funds to your country of residence.

Benefits of the DBS Treasures FCNR AccountFor NRIs looking to maximise their wealth, the DBS Treasures FCNR Account offers tax-free earnings, repatriability, and protection against currency risks. It’s a strategic way to safeguard and grow your foreign income.

Tax-Free Interest: Enjoy 100% tax-free returns on your FCNR deposit interest rates in India.

Full Repatriability: Your principal and interest are freely transferable, making it a reliable option for Non- Resident Indians managing their foreign currency finances globally.

Protection Against Currency Fluctuations: Maintain deposits in foreign currency to avoid exchange rate risks.

Features of the DBS Treasures FCNR AccountThe DBS Treasures FCNR Account is designed to help NRIs securely grow their foreign earnings while maintaining full control over their deposits. With flexible tenures, multi-currency options, and seamless online access, this account ensures convenience and stability.

Multiple Currency Options: Maintain your deposit in USD, GBP, AUD, CAD, SGD, or HKD, allowing global transactions without forex rate worries.

Flexible Tenure: Choose a deposit duration between 1 to 5 years to align with your financial goals.

Competitive Interest Rates: Earn attractive returns on your FCNR deposits while ensuring steady growth. DBS Treasures account holders can securely park their funds and enjoy the competitive FCNR interest rate helping you build your personal wealth.

FCNR Deposit Interest RatesThe DBS Treasures FCNR deposit allows NRIs to earn competitive, tax-free returns on their overseas income while safeguarding funds in a choice of stable foreign currencies. This foreign currency non-resident account offers attractive FCNR deposit interest rates, ensuring your wealth grows without exposure to forex osure to forex fluctuations.Current FCNR Deposit Rates (Effective from 23^rd January 2026)

Tenor	USD
1Y to <2Y	3.75%
2Y to <3Y	3.50%
3Y to <4Y	0.01%
4Y to <5Y	0.01%
5Y	0.01%

Interest rates are subject to change. We recommend speaking with your DBS Treasures relationship manager to get the latest FCNR deposit rates before booking your deposit. Whether you’re opting for a short-term placement or a long-term FCNR fixed deposit, this account ensures flexibility, security, and steady returns.

Open FCNR AccountFCNR Deposits Terms and ConditionsThe DBS Treasures FCNR account is designed to offer NRIs secure, tax-free growth on their overseas earnings. However, understanding the FCNR deposit terms can help you manage your funds effectively.Premature Withdrawal Policy

Withdrawals from FCNR deposits are permitted before maturity upon written request.

The interest rate applicable will be the lower of either:

The rate prevailing on the date of deposit placement.
The contracted rate, adjusted for the actual holding period.

A 1% penalty will be applied to the revised FCNR interest rate for early withdrawals.

Key Considerations

No interest will be paid on FCNR deposits withdrawn before completing one year.

A 1% pre-closure charge applies to all FCNR fixed deposits and term deposits booked or renewed on or after 15th April 2019.

For the latest FCNR deposit rates and detailed terms and conditions, consult your DBS Treasures relationship manager.

By choosing a foreign currency non-resident account, you gain the advantage of holding funds in a stable currency while enjoying attractive FCNR deposit interest rates and flexible banking options.

Eligibility Criteria to Open FCNR Deposit AccountOpening a DBS Treasures FCNR account allows NRIs to safeguard their foreign currency earnings while benefiting from attractive FCNR deposit interest rates. To be eligible for a foreign currency non-resident account, you must meet one of the following criteria:Who Can Open an FCNR Deposit?

You are an NRI (Non-Resident Indian).

You hold a PIO (Person of Indian Origin) card.

You have an OCI (Overseas Citizen of India) card.

By opening an FCNR deposit, you can manage your international wealth efficiently while enjoying the stability of foreign currency holdings and competitive FCNR interest rates.Open FCNR Account

Documents Required to open FCNR AccountNew NRIs and PIOs opening a foreign currency non-resident account with DBS Treasures need to submit required documents. While existing DBS Treasures account holders have a simpler process as these documents are not required.For NRI (Non-Resident Indian)

A valid passport

Proof of NRI status – Either Employment / Residence Visa copy or Work / Residence Permit

Address proof in India and overseas (as per the Customer Identification Policy)

A copy of your Indian PAN card or Form 60

A recent passport size colour photograph

Additionally for seafarers: Current work contract and copy of CDC along with the disembarkation stamp on the last page & FEMA declaration.

For PIO (Person of Indian Origin)

Valid passport

Valid PIO/OCI card or any other proof of PIO status (as per Customer Identification Policy)

Address Proof (Indian and overseas addresses) as per Customer Identification Policy

Signed and fully filled-in PIO declaration

A copy of your Indian PAN Card or Form 60

A recent passport-size colour photograph.

How to open an FCNR DepositOpen FCNR AccountSetting up a DBS Treasures FCNR deposit is a seamless process for NRIs looking to grow their wealth in foreign currencies.You can open an FCNR account conveniently through:

If you are an existing DBS Treasures customer then you can open FCNR Deposit by contacting your relationship manager or branch.

For new-to-bank customers booking a FCNR Deposit Account, you can request a call back here and a DBS Treasures Relationship Manager will contact you for document verification. Once approved, you can enjoy competitive FCNR deposit interest rates and other NRI banking solutions.

Can I book multiple FCNR deposits?

You can deposit funds into an FCNR account using your NRE account, inward remittances, foreign currency demand drafts (FCY DD), or transfers from other FCNR accounts.

What is the minimum & maximum tenure of an FCNR Deposit?

DBS Treasures FCNR deposits have a tenure ranging from 1 year to 5 years, which applies to DBS Treasures as well.For the latest terms, refer to the official DBS Treasures website or contact their support team.

How can I deposit funds into an FCNR deposit?

You can deposit funds into an FCNR account using your NRE account, inward remittances, foreign currency demand drafts (FCY DD), or transfers from other FCNR accounts.

Are premature withdrawals allowed on the FCNR FD?

Yes, premature withdrawals are allowed from your FCNR FD. However, you must remember that no interest is payable if the withdrawal is made before the completion of one year. For more information, contact your relationship manager or DBS Bank branch.

How is the interest compounded?

Does the FCNR account have a nomination facility?

Can interest rates change during the tenure of the deposit?

Can I use my NRO account to open an FCNR account?

Can I use my NRE account to open an FCNR account in a third party’s name?

Who can open an FCNR account?

Non-resident Indians (NRIs) or people who have a valid PIO/OCI proof can open an FCNR deposit in India.Apply Now

What is FCNR account?

An FCNR account (Foreign Currency Non-Resident Account) is a type of fixed deposit account available to Non-Resident Indians (NRIs), allowing them to deposit foreign currency in India. It helps NRIs earn interest in their chosen foreign currency without the risk of exchange rate fluctuations. The principal and interest earned are fully repatriable.

What is fcnr b account?

An FCNR (B) Account refers to a Foreign Currency Non-Resident (Bank) Account, a term used after the year 1993 when the Reserve Bank of India replaced FCNR (A) with FCNR (B). The "B" indicates that the deposits are maintained on a bank’s balance sheet, ensuring NRIs earn fixed returns on their foreign currency deposits without currency conversion risks.