Flexible deposit tenure from 7 days to 10 years.

Interest can be credited in your account on a monthly, quarterly basis or at maturity of the deposit.

Convenience of booking NRO Fixed deposit through Netbanking.

Transfer money from an existing NRE/ NRO account with a bank in India to open NRO deposits.

25,000, and you can book add-on deposits in multiples of Rs.

The minimum amount for initial HDFC NRO fixed deposit is Rs.

NRO fixed deposit is an easy investment with attractive interest rates.

Features and Benefits of HDFC NRO Fixed Deposits The interest earned on NRO fixed deposits is subject to tax deduction at a flat rate of 30% along with applicable surcharge and cess.Note: All the interest rates mentioned above are subject to change without prior notice. The principal of NRO fixed deposits is not taxable, but the interest earned on it will be subject to tax as per the Income Tax Act of 1961. Generally fixed deposits come with tax benefits, but interest offered on that is not tax-free. If necessary, other documents will be mentioned by the bank authorities.

Address proof: Aadhaar card/ voter’s ID card/ utility bills (Electricity bill, telephone bill, water bill).

Identity proof: Passport/ PAN card/ Aadhaar card.

Individuals need to submit the following basic documents to open an NRO Fixed Deposit account:

NRO fixed deposit rates vary from bank to bank and term to term.Īlso Read: NRI Accounts: Which one to choose? NRE or NRO? Documents Needed to Open NRO FD Accountsĭocumentation may vary from bank to bank.

Minimum amount that can be deposited in an NRO account is Rs.

Interest and returns on NRO fixed deposit accounts are higher as compared to savings or current accounts.

NRIs can open an NRO account jointly with resident relatives or Indian citizens.

NRO account is maintained in Indian rupee (INR) and can’t be repatriated or converted into a foreign currency.

However, the principal amount can’t be transferred outside India.

Interest earned can be repatriated to a foreign account.

The interest earned on funds deposited in this account is taxable under the Income Tax Act of 1961.

NRO FD accounts can be used by NRIs who receive income from sources in India.

Here are the key features of NRO fixed deposits. There are different types of Fixed Deposits available for NRI customers based on features. 2 crore)Īlso Read: What is the minimum tenure of NRO FD? Features of NRO Fixed Deposit

Hdfc nri fixed deposit tax free