NRO Fixed Deposit

The minimum amount required for opening NRO Fixed Deposit is Rs 1,000 only.

We offer the most attractive interest rates on our deposits

Click here to know more in detail.

As per current guidelines, the principal amount in NRO deposit is exempt from taxes in India. However, the interest earned will be subject to a tax of 30% (plus applicable surcharge and cess).

The NRO deposit account can be funded through:

• Any legitimate income from India
• Funds from any other NRO or NRE account in any bank in India
• Foreign currency remittances from overseas

RBI allows repatriation of balances held in NRO saving account up to one million USD or equivalent per financial year for bonafide purposes (For e.g. education, medical expenses, employment etc.) with documentation.

You can access your NRO Fixed Deposit through Net Banking and Mobile Banking. Click here to login your Net banking.

If you provide specific instructions during the opening of an NRO Fixed Deposit, it will be executed in accordance to that. However, in absence of any specific instruction, deposits will be renewed for the same period at the rates prevailing at the time of maturity.

Yes, premature withdrawal is permissible. However, the interest will be paid at the prevailing on the date of deposit remained with the bank or at the contracted rate, whichever is lower. For details on penalty charges, please click here. 

Yes, you can avail nomination facilities in you NRO Fixed Deposit. A nominee can be either resident or non-resident as desired by the account holder.

NRO Fixed Deposit rates are computed using a fixed rate. You can choose between Simple or Compound Interest.

For simple interest FD, you can get monthly or quarterly pay-out and in case of Compound Interest, interest is compounded quarterly and paid on maturity.