DBS Bank launches overseas education solutions with free transfers & loans

This programme helps Indian students studying abroad with zero-fee international transfers, education loans and travel insurance

DBS Bank India has launched the ‘DBS Study Abroad Total Assist’ program for non-resident Indians (NRIs) and high net-worth individuals (HNIs) to help them navigate the challenges of overseas education.  This programme is tailored to support DBS Treasures customers.

 

There are over 1.3 million Indian students pursuing higher education abroad in 2024, as per the Ministry of External Affairs.

 

Recognising the growing need for seamless financial solutions, DBS Bank has introduced this one-stop offering designed to address key concerns, including managing finances and protecting against unforeseen expenses.

 

Key features of ‘DBS Study Abroad Total Assist’:

 

It enables parents to transfer funds internationally without any bank fees.

 

 

Offers coverage up to 1 million-dollar against unexpected events, such as illness, lost baggage, or accidents, ensuring robust financial protection during their studies abroad.

 

Provides families access to education loans at competitive rates, starting at 10.25 per cent per annum, through Credila Financial Services Limited.

 

The DBS Treasures VISA Infinite Debit Card allows students to make transactions abroad without incurring forex markup fees, making international spending more cost-efficient.

 

Students traveling to Singapore can conveniently open a bank account remotely and receive their debit card before departure, ensuring a hassle-free transition and access to banking services upon arrival.

 

“Leveraging the bank’s cross-border and digital capabilities, ‘DBS Study Abroad Total Assist’ streamlines the entire process with a fully digital and paperless experience, allowing customers to manage all their financial requirements conveniently through the digibank app,” company said in a statement.

 

“Navigating the complexities of global education – from managing finances to adapting to new cultures – can be a challenge. ‘DBS Study Abroad Total Assist’ aims to make this journey smoother and more fulfilling,” said Prashant Joshi, Managing Director and Head of Consumer Banking Group at DBS Bank India.

 

Enhanced Benefits for DBS Treasures Customers

 

The ‘DBS Study Abroad Total Assist’ is part of the broader DBS Treasures premium banking offering. Designed for Non-Resident Indians (NRIs) and High Net-Worth Individuals (HNIs), the enhanced proposition allows customers to enjoy exclusive lifestyle privileges and signature benefits across DBS’s six key markets: Singapore, Hong Kong, Taiwan, Indonesia, India, and China. Benefits include:

 

Preferential FX rates: Competitive rates for international fund transfers.

 

Waived service fees: No fees on select banking services.

 

Zero ATM withdrawal fees: Free withdrawals across all DBS markets.

 

This enhanced offering ensures that DBS Treasures customers in one market can enjoy the same privileges across all DBS markets.