DBS Bank India Launches ‘Study Abroad Total Assist’ – A One-Stop Banking Solution for Seamless Overseas Education

Simplifies the journey for students of international education with zero-fee international transfers, education loans and travel insurance

India, December 17, 2024 – DBS Bank India has launched ‘DBS Study Abroad Total Assist,’ a unique offering designed to support DBS Treasures customers and their families through their overseas education journey.

According to the Ministry of External Affairs, over 1.3 million Indian students pursued higher education overseas in 2024[ii], a figure that has nearly doubled over the past six years. Recognising this rising trend, the bank has introduced ‘DBS Study Abroad Total Assist,’ a holistic solution that addresses the banking needs and key concerns of students and parents, including support for managing finances, and protection against unexpected costs.

Key features[iii] of the proposition include:

• Same-day[iv], zero-fee international remittances: Parents can transfer funds abroad without incurring any bank fees, empowering them to prioritise their children’s needs and avoid concerns about hidden costs.
• Comprehensive student travel insurance: Students receive robust coverage against unexpected events such as illness, lost baggage, and accidents, with protection up to USD 1 million.
• Education loans: Families can access education loans starting at just 10.25% per annum[v] through Credila Financial Services Limited (formerly known as HDFC Credila Financial Services Limited), helping to ease the financial burden of higher education.
• Zero forex markup on overseas spending: The DBS Treasures VISA Infinite Debit Card enables cost-effective transactions worldwide with no forex markup.
• Remote overseas bank account opening[vi]: Students traveling to Singapore can open an overseas bank account remotely, receiving their debit card before departure for a smooth transition.

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.

Prashant Joshi, Managing Director and Head of Consumer Banking Group, DBS Bank India, said, “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. We understand that our customers need the right support, and we empower them to pursue opportunities for their children with confidence. For 30 years, we have been a trusted partner for our customers in India, and we will continue to design solutions that enable them to live more fully, bank more efficiently, and focus on what truly matters to them.”

Through its premium banking offering, DBS Treasures, the bank offers a range of exclusive lifestyle privileges and signature benefits. Recently, the bank announced an enhanced DBS Treasures proposition for its customers in India, leveraging its strong presence across Asia. Designed specifically for NRIs and HNIs, customers can now avail premium banking in all of DBS’s six key markets in Asia as being a DBS Treasures customer in one market gives them the same privileges in all DBS markets. The offering also includes preferential FX rates for international fund transfers, waived service fees, and zero ATM withdrawal fees. These benefits are available to customers across six key DBS markets: Singapore, Hong Kong, Taiwan, Indonesia, India, and China.

To learn more about the offering, customers can visit any DBS India branch or explore the website:https://www.dbs.com/in/treasures/dbs-forms/banking/remittances/study-abroad-total-assist-form.page