Taxation laws applicable as per Singapore law.

Premature withdrawal is not allowed for non-withdrawable deposits. For withdrawable deposits, premature withdrawal is at the sole discretion of the Bank. Please refer to the terms and conditions of HDFC Bank Singapore for premature withdrawal charges. 

Partial withdrawal of term deposits is not allowed. You must break your deposit in full.

• Attractive interest rates

• Flexible tenors

• Multiple currencies

• Automatic renewal

You can transfer funds to your Offshore Deposit in the following ways: 
 

• Foreign currency cheque /draft from your account held in other banks. 

• Telegraphic / SWIFT transfers by debit to your account held in other banks. 

• In case you are an NRI, then funds transfer from your existing NRE and FCNR Account in India. 

Yes. Switching of currencies is allowed only on the withdrawable deposit. Please refer to the terms and conditions for details on the same.

Interest Rates are subject to change on periodic basis, please refer to interest rate schedule for the latest interest rates. Interest will be paid on maturity only. For deposits of tenure more than 12 months, interest would be compounded annually. For deposits of tenure 12 months or less, interest would be calculated on a simple interest basis. 

Offshore deposit can be opened by:
 

Individuals:  
 

• Non Resident Indians  

• Individuals in other countries (Foreign nationals) # 

• Corporates / Partnership Firms

• Joint account holders 

Minors:
 

Where the individual is a minor (persons below 18 years of age), a Call or Savings Account may only be opened if this is a joint account on a joint basis with another individual that is not a minor. 

Multiple tenors varying from 7 days to 5 years are available.

You can remit funds in the following ways: 
 

• Transfer to an investment product offered by HDFC Bank Singapore. 

• SWIFT transfer to an NRE/FCNR Account maintained with HDFC Bank, India. 

• SWIFT transfer to your account with any other Bank.

• United States Dollar (USD)

• Great Britain Pound (GBP)

• Euro (EUR)

• Singapore (SGD)*
  

• Japanese Yen (JPY) 

• Swiss Franc (CHF)

*(As per approved limits & conditions)

i. Individuals
 

• Account opening form

• Photocopy of passport

• Photocopy of valid visa / work permit / residence card

• Address proof: Electricity bill/Telephone bill/Bank account statement

• Valid Identity card

• Government Issued for Self-employed and Salaried

• Issued by company for salaried

• All documents are required to be self-attested by you. Any identity card should be valid and in case of bank statements/bills, they should not be more than 3 months old.

ii. Corporates
 

• Board resolution authorising the opening of account with HDFC Bank-Singapore Branch

• Certificate of Incorporation or registration (or similar document) (certified copy)

• Memorandum and Articles of Association or other constitutive document (certified copy)

• Licence or registration certificate from any other relevant regulatory authority (certified copy)  

• Certificate of Good Standing (or similar document)

• Audited annual accounts for the past two years

• Documents confirming signature authority for accounting opening and operating signatories (Resolutions by the Shareholders or the Board, Power of Attorney (certified copy)

• Passport copy of each authorised signatory (certified copy)

• National identity of each authorised signatory (certified copy) or in case of bank statements / bills, they should not be more than 3 months old.

• List of principal beneficial owner(s) (persons or entities holding more than 5%, directly or indirectly, or having effective control over the company’s assets) and passport copy for each beneficial owner (certified copy)

• Proof of address of the Company – latest electricity bill (certified copy)
   

iii. Existing customers of HDFC Bank India and other geographies are considered as new customers for HDFC Bank Singapore; hence submission of all documents listed above are required.
 

iv. Existing customers of HDFC Bank Singapore branch, who require other accounts/services are to submit duly filled account opening forms.