DCB Bank provides a variety of accounts and deposits designed to meet different financial needs. Whether you are looking to manage earnings from abroad or handle income earned in India, DCB Bank offers range of solutions for Non-Resident Indians (NRIs).

These options ensure flexibility, security, and ease of management, making DCB Bank a reliable partner in your financial journey.

NRE (Non-Resident External) Accounts and Deposits

NRE accounts are specifically designed for NRIs to manage their overseas earnings in India. These accounts allow NRIs to deposit funds in INR, facilitating easy remittance and management of their finances from abroad.

You can open both savings and fixed deposit accounts under NRE, offering flexibility in managing your savings. A key advantage is the full repatriation benefits, meaning you can freely transfer both the principal amount and the interest earned abroad without any restrictions.

Interest earned on NRE deposits is exempt from TDS, ensuring you maximise your returns. NRE accounts do not allow cash deposits in INR and are funded through remittances from abroad, foreign currency cheques, or transfers from other NRE or FCNR (B) deposits.

NRO (Non-Resident Ordinary) Accounts and Deposits

NRO accounts serve NRIs who earn income in India, such as rental income, dividends, or interest from investments. These accounts allow NRIs to manage and deposit their Indian earnings in INR conveniently.

Unlike NRE accounts, NRO accounts have limited repatriation benefits, allowing repatriation of current income up to USD 1 million per financial year for bona fide purposes after payment of applicable taxes and with due certification. Interest earned on NRO deposits is subject to TDS as per Indian tax obligations.

NRO accounts also facilitate joint holdings with other NRIs or Resident Indians in the "Former or Survivor" mode for ease of management and continuity.

FCNR (B) Deposits

FCNR (B) Deposits cater to NRIs looking to maintain their savings in foreign currencies like USD, GBP, AUD, CAD, or EURO. These deposits give NRIs a secure option to hold their foreign earnings in India without the risk of exchange rate fluctuations. FCNR (B) deposits are fixed deposits with tenures ranging from 1 year to 5 years, offering competitive interest rates.

They are fully repatriable, meaning both the principal amount and the interest earned can be freely transferred abroad. Interest earned on FCNR (B) deposits is exempt from TDS, allowing NRIs to maximise their returns.

FCNR (B) deposits are funded through remittances from abroad, foreign currency cheques, or transfers from other NRE or FCNR (B) accounts, ensuring flexibility and ease of management for NRIs.

Here’s an overview of the various accounts and deposits at DCB Bank:

Features	NRE	NRO	FCNR (B) Deposits
Purpose of account	To deposit overseas savings remitted to India	To deposit earnings in India	To deposit overseas savings remitted to India in Foreign currency
Currency	Indian Rupee	Indian Rupee	AUD, CAD, EURO, GBP and USD.
Type	Savings Account, Fixed Deposits	Savings Account, Fixed Deposits	Fixed Deposits
Joint holding	With Non-Resident Indian or with Resident Indian (in Former or Survivor mode only)	With Non-Resident Indian or with Resident Indian (in Former or Survivor mode only)	With Non-Resident Indian or with Resident Indian (in Former or Survivor mode only)
Repatriability	Freely repatriable	Repatriation of current income, like rent, dividend, interest, is allowed up to USD 1 million per financial year for bonafide purposes, after payment of applicable taxes and with due certification.	Freely repatriable
TDS on Interest	Exempt from TDS	TDS as per guidelines	Exempt from TDS
INR Cash Deposit	Cannot be deposited	Can be deposited	Cannot be deposited
Mode of funding	Remittance from outside India, foreign currency cheque, transfer from other NRE/FCNR (B) Deposits	Transfer from resident accounts, cheques drawn on resident accounts. Additionally, similar to the funding of NRE accounts	Remittance from outside India, foreign currency cheque, transfer from other NRE/FCNR (B) Deposits
Advantages	Rupee account with full repatriation benefits	Account for local funds	Foreign currency account with full repatriation benefits No exchange risk
Period for Fixed Deposit	1 – 10 years	7 days – 10 years	1 – 5 years
Cheque book	Available	Available	Not applicable
Debit/ATM card	International Debit card	Domestic Debit Card	Not applicable

Savings Account

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