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NRE Fixed Deposit |
NRE Recurring Deposit |
NRO Fixed Deposit |
NRO Tax Saver Fixed Deposit |
Who can open a deposit |
A Non-Resident External Fixed Deposit can be opened by an Individual NRI (other than Individuals of Bangladesh/Pakistan nationality/ownership) and is maintained to invest foreign income to earn higher returns. |
A Non-Resident External Recurring Deposit can be opened by an Individual NRI (other than Individuals of Bangladesh/Pakistan nationality/ownership). This is an excellent option for systematic savings by investing small sums every month from your foreign income. |
A Non-Resident Ordinary Fixed Deposit can be opened by an Individual NRI (other than a person resident in Nepal and Bhutan) and is maintained to invest your local funds in India to earn higher returns. |
A Non-Resident Ordinary Tax Saver Fixed Deposit can be opened by an Individual NRI (other than a person resident in Nepal and Bhutan) which provides an opportunity for tax planning in India. |
Who can be a joint holder |
Deposit can be held jointly by a Non-Resident Indian (persons of Indian nationality or origin) / by a Resident Indian (Former or Survivor basis). |
Deposit can be held jointly by a Non-Resident Indian (persons of Indian nationality or origin) |
Deposit can be held jointly by a Non-Resident Indian (persons of Indian nationality or origin) / by a Resident Indian |
Deposit can be held jointly by a Non-Resident Indian (persons of Indian nationality or origin)/ by a Resident Indian |
Curreny |
Indian Rupees (INR) |
Indian Rupees (INR) |
Indian Rupees (INR) |
Indian Rupees (INR) |
Repatriation |
Principal & Interest are fully repatriable |
Principal & Interest are fully repatriable |
RBI allows repatriation only for i) current income ii) up to USD 1 (one) million per financial year (April-March), for any bonafide purpose after payment of applicable taxes. |
RBI allows repatriation only for i) current income ii) up to USD 1 (one) million per financial year (April-March), for any bonafide purpose after payment of applicable taxes. |
Minimum Deposit Amount |
Fresh: INR 25,000
Add-on: INR 10,000 |
Min.: INR 1000 (and in multiples of Rs 100 thereafter)
Max.: INR 14,99,900/- p.m. |
Fresh: INR 25,000
Add-on: INR 10,000 |
Min.: INR 100 and in multiples of 100 |
Interest Rate |
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(Applicable ROI for 5 Years) |
Tenor |
Min: One Year
Max: Ten Years |
Min: One Year (in multilple of 3 months there after)
Max: Ten Years |
Min: 7 Days
Max: Ten Years |
Only 5 Years |
Interest Payment Mode |
- Monthly (at discounted rate)
- Quarterly
- On Maturity (compounded Quarterly)
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Reinvestment
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- Monthly (at discounted rate)
- Quarterly
- On Maturity (compounded Quarterly)
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- Monthly (at discounted rate)
- Quarterly
- On Maturity (compounded Quarterly)
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Taxation |
Interest earned is exempted from Tax in India |
Interest earned is exempted from Tax in India |
Interest is taxable under Indian Income Tax Act |
Interest is taxable under Indian Income Tax Act |