Overview
A fixed deposit for NRIs & PIOs to Invest local funds in India and earn higher returns.
Features of NRO Fixed Deposit
Indian rupees
The funds are maintained in Indian rupees.
Tenure
The Deposit can be opened for flexible tenures ranging from 7 days to 10 years
Repatriation of funds
RBI allows repatriation up to one million USD or equivalent per financial year for bonafide purposes
Tax
Interest Earned is subject to tax of 30% (plus applicable surcharge and cess).
Interest
Interests on NRO deposit is compounded quarterly
