Latest news with #NonResidentIndians
Mint
19-05-2025
- Business
- Mint
DBS Bank revises savings account rates, offers upto 5.5 per cent
DBS Bank India has revised its savings account interest rates across balance slabs, with the new structure offering one of the most competitive returns in the industry. The revised rates show the bank's continuous efforts to offer enhanced value to its customers, balancing safety and returns, while maintaining a forward-looking deposit strategy. Following the recent cuts in the repo rate, with multiple banks having lowered interest rates on savings accounts, the higher rate on the DBS Savings Account, makes it a uniquely attractive proposition for those looking to maximise their savings and grow their wealth. For customers residing in India, balances between ₹ 5 lakh and ₹ 50 lakh will now earn 5.50% per annum — a rate that is nearly twice as high as those being offered by many peer banks for the same balance slab. Amount (Rs) Interest Rate (%) Upto 2 lakh 2.75 2-5 lakh 3.25 5 -50 lakh 5.50 Above 50 lakh 4 DBS Bank India has a tiered rate structure, offering differentiated value as per the savings account balances for both domestic and non-resident account holders. For non-resident account holders, balances above ₹ 2 lakh will earn 3 per cent per annum, while balances up to ₹ 2 lakh will continue to earn 2.75% per annum. This timely proposition combines the convenience of a savings account with the advantage of significantly higher returns on certain balance tiers, creating a compelling reason to open a DBS Savings Account. The revised rate structure for a DBS Savings Account is also available on the bank's website which can be accessed here: This high-interest savings account can be opened digitally through the DBS digibank app. In 2024, DBS announced a pioneering, new feature for Non Resident Indians (NRIs) through which they could open a savings account digitally, setting the standard for a seamless account opening experience that can be completed within an hour and on-the-go. DBS Bank has been present in India for more than 30 years, opening its first office in Mumbai in 1994. DBS is a financial services group in Asia with a presence in 19 markets. It is headquartered and listed in Singapore. For all personal finance updates, visit here
Time of India
13-05-2025
- Business
- Time of India
Ceasefire violation by Pakistan shakes investor confidence in Punjab
AMRITSAR: The ongoing tensions and fragile ceasefire along the India-Pakistan border in , especially after , have chilled Non Resident Indians (NRI) investment in Punjab, particularly in border districts like Amritsar and Gurdaspur, Pathankot and Tarn Taran . Tired of too many ads? go ad free now Fearing instability, NRIs are shelving plans for ventures like hotels and real estate, with many exploring safer options abroad. Rattled by the uncertainty , the local industrialists are also hedging their bets, planning alternate manufacturing units and residences outside Punjab which could severely damage the Punjab's economic prospects and threatens a long term growth in the region. Many NRIs, who once saw the state as a promising destination for business ventures, are rethinking their plans. Take, for instance, Rajwinder Singh , an NRI from Switzerland who had been planning to invest in a boutique hotel in Amritsar's bustling heritage district. 'I was ready to move forward but with the ceasefire and the uncertainty it brings, I'm holding off ', said he His concerns echo those of others who fear that the fragile peace could unravel, reigniting tensions and disrupt business operations. For some, the ceasefire has even prompted a reevaluation of long-term plans. Germany based NRI Parmod Kumar informed that they are now exploring opportunities in other countries .'If conflict flares up again, it could destabilize everything', he said . The trend is not limited to NRI's alone Harjit Singh, who makes sewing machine spare parts in Amritsar said 'I can't risk my capital when drones are flying over Punjab,' Instead, he said he will begin exploring opportunities in Dubai, where investor-friendly policies and political stability are more appealing. Tired of too many ads? go ad free now Local industrialists are also planning to diversify their assets. Some are contemplating on establishing secondary manufacturing units in safer states away from Punjab, while others are mulling over purchasing properties abroad. Agreeing with the new trend, Rajwinder said he has been getting several queries from his relatives and friends from Punjab , He clarified 'It's not about abandoning Punjab . It's about survival. If war breaks out, our factories could be collateral damage. A second home or business abroad is insurance".
