Last Updated: July 1, 2026
At Indus, we are committed to offering a clear and accessible pathway to investment opportunities in India. This document provides a concise explanation of how we facilitate investments in Indian mutual funds, ensuring you have a comprehensive understanding of our operations.
Indus provides access to Indian investment products by partnering with global companies that offer them. We don't directly provide these products and, therefore, cannot take responsibility for them. It's important that you carefully assess the risks of each product to determine if it's suitable for you before choosing to invest.
Indus offers you access to hundreds of Indian mutual funds, providing a range of investment opportunities for you to choose from. Mutual funds available through Indus are regular plans rather than direct plans. Regular plans include distribution or trail commissions payable by the mutual fund manager to Indus.
Our role is to present these options, not to offer advice. Indus provides general information only and does not provide personalised financial, investment, or tax advice. You should consider your own circumstances and seek professional advice where appropriate before making any investment decisions.
To sign up for Indus, you must complete the online registration process and ensure that all the information you provide is accurate and complete. We will request information to verify your identity and comply with our legal and regulatory obligations under New Zealand’s AML/CFT regime. We use electronic identity verification and screening services to confirm customer information and undertake customer due diligence, including politically exposed person, sanctions and other financial-crime checks.
If you do not provide the information required for customer due diligence or other legal and regulatory purposes, we may be unable to open or continue providing an account or services to you. Indus is supervised by the Department of Internal Affairs for compliance with New Zealand’s AML/CFT regime.
Your Indus account displays the value of the funds and investments you hold through Indus and is where you place orders for your trading account.
The money you deposit into your Indus account is held in a New Zealand custodian bank account under Indus' name, specifically designated for holding your assets. You can only deposit funds into your Indus Wallet through your NZ bank account and may be restricted to withdrawing to the same nominated NZ bank account or another bank account reflecting your name.
Indus holds your deposited funds in New Zealand dollars on your behalf, pooled with the funds of other Indus customers, and automatically arranges for it to be converted into Indian Rupees, which are then held in Indus' custodian account with DBS Bank India Limited (DBS India) under the name of Indus Limited. Any mutual funds you invest in through Indus will also be held in the name of Indus Limited on your behalf. We do not offer interest on the funds held in any of the custodian bank accounts.
We work with currency exchange providers to convert the NZD you deposit into Indian Rupees, and vice versa, enabling you to invest in the Indian mutual funds and withdraw funds in NZD. We will provide an estimated exchange rate before each conversion and confirm the actual rate once the transaction is complete. While the rate you receive should be close to the estimate, we have no control over the currency markets and are not responsible for any difference between the estimated and actual rate you receive.
There are no fees associated with opening an Indus account. Additionally, we do not charge you for buying or selling mutual funds through Indus. Indus applies a foreign exchange margin of up to 1% when converting between NZD and INR. The margin forms part of Indus’s revenue. The applicable margin and resulting amount of currency you will receive will be shown as part of the transaction. Additional fees, charges, or expenses may be applied by mutual fund providers or other third parties when buying, holding, or selling mutual funds. These are outside of Indus’s control.
Indus may also receive ongoing distribution or trail commissions from mutual fund managers based on amounts invested through Indus. These commissions form part of Indus’ revenue and are paid by the relevant mutual fund manager rather than being separately deducted from your Indus account.
Our team is available Monday to Friday from 9:00 AM to 5:30 PM to provide support for Indus, address any concerns, and resolve any issues. You can contact us by email at support@indus.nz or through the app.
We cannot guarantee that Indus will always be available without delays or errors. Access may need to be suspended for emergencies, technical or regulatory reasons, or for maintenance and improvements.
DBS Bank is a large financial services group headquartered in Singapore with an AA- credit rating from S&P. It operates across multiple jurisdictions and is subject to regulatory oversight in those jurisdictions. For further details on DBS Bank, visit About DBS Bank.
DBS Bank India Limited, a wholly owned subsidiary of DBS Bank Limited, operates with hundreds of branches across India, offering a range of services such as Digital Banking, Trade Finance, Supply Chain Finance, and Securities. As Indus's custodian bank, DBS India will handle daily fund transfers and hold these funds in INR within dedicated Indus custodian accounts. DBS India will also facilitate the purchase and sale of mutual funds.
DBS India is regulated by the Securities and Exchange Board of India (SEBI) and operates under applicable regulatory requirements. While regulatory oversight applies, this does not eliminate all risks associated with holding or investing funds.
Indus will provide details of the customer’s country of residence, citizenship, PAN card (tax ID for Non-Resident Indians), and transaction reporting every quarter to SEBI and DBS as part of the monitoring requirements.
India's market operates under a segregated account structure, meaning all investor assets (securities and cash) remain in Indus's FPI account with DBS India. In accordance with SEBI's Custodian of Securities Regulations 1996, client assets are kept separate from the custodian bank's own assets. This structure protects investor funds in the unlikely event of the custodian's insolvency.
For DBS Bank's credit rating, refer to DBS Bank Credit Rating. Although DBS Bank India Limited operates as an Indian entity, it retains the parental credit rating of DBS Bank Limited, as per Reserve Bank of India (RBI) approval.
DBS India maintains robust insurance coverage for client assets, including an Industrial All Risks Insurance policy underwritten by global insurers such as Chubb Insurance Singapore, Zurich Insurance, and MS First Capital Insurance. Additionally, the bank holds policies covering Bankers Blanket Bond, Electronic and Computer Crime, and Professional Indemnity, underwritten by leading global insurers such as QBE, AIG, and Allianz. At the local level, DBS India is insured by New India Assurance Co. Ltd for coverage through India's central depositories (CDSL and NSDL) with a protection of up to INR 1 billion (USD 13.51 million).
Accounts:
Investor funds are held in separate custodian accounts to ensure they are distinct from Indus's operational funds, minimizing risk and providing a transparent audit trail.
Regulatory Compliance:
Indus adheres to all relevant SEBI and RBI regulations, including regular audits and reporting to maintain transparency and accountability.
Insurance and Indemnity:
Appropriate insurance is maintained to protect against risks such as fraud, theft, and other unforeseen events, ensuring the security of investor assets.
We need to collect and store your personal information to provide Indus services. If you choose not to provide the requested information, you may be unable to access or use Indus.
Rest assured, we only request the information necessary for us and our third-party suppliers, and we do not sell your details to marketing companies.
Some of the information we ask you for is for us, and this information is held and protected by the Privacy Act 2020 as set out in our privacy policy.
Some of the information we request is for DBS India. It's important to understand that DBS India operates under Indian law, not New Zealand law, and may not be required to protect your information with the same safeguards as those mandated by New Zealand privacy law. Your information will be handled and protected according to their privacy policy, which you should review and understand. You can access it through the following link: DBS Privacy Policy.