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DBS Bank unveils program to aid Indian students going abroad
The ‘DBS Study Abroad Total Assist’ initiative aims to simplify key aspects such as international banking, protection against unforeseen costs, and financial management.
Bank logo. / DBS bank India
To support the growing number of Indian students pursuing education overseas, DBS Bank India has unveiled the ‘DBS Study Abroad Total Assist,’ a comprehensive solution to address their financial and logistical concerns. This initiative aims to simplify key aspects such as international banking, protection against unforeseen costs, and financial management.
Ministry of External Affairs data reveals that over 1.3 million Indian students studied abroad in 2024—a figure that has nearly doubled in the last six years. Recognizing this trend, DBS Bank designed the program to cater to both students and their families.
"Navigating the complexities of global education – from managing finances to adapting to new cultures – can be a challenge," said Prashant Joshi, managing director and head of Consumer Banking Group at DBS Bank India. "'DBS Study Abroad Total Assist’ aims to make this journey smoother and more fulfilling. 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."
Key features of the program include:
- Same-day, zero-fee international remittances: Enables parents to send funds abroad without incurring extra charges.
- Student travel insurance: Covers lost baggage, illnesses, and accidents with protection up to USD 1 million.
- Education loans: Offers loans at approximately 10.25 percent per annum through Credila Financial Services Limited.
- Zero forex markup: Students can make cost-effective transactions abroad using the DBS Treasures VISA Infinite Debit Card.
- Remote account opening: Allows students to open overseas bank accounts and receive debit cards before departure.
- Digital banking experience: The entire process is paperless and facilitated through the digibank app.
Additionally, through its premium banking service DBS Treasures, the bank provides exclusive lifestyle privileges and financial benefits for NRIs and high-net-worth individuals (HNIs), such as preferential forex rates, waived service fees, and zero ATM withdrawal fees across six key DBS markets in Asia, including Singapore, India, and Hong Kong.
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