Yes, only if you are a Non-Resident individual of Indian nationality or of Indian origin.
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Upon change of status from NRI to RI the responsibility of informing the bank remains with the customer.
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In case of change of status from Resident to Non-Resident, your existing Resident Fixed Deposit has to be designated as an NRO Fixed Deposit.
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Tax: Interest earned on the NRO Fixed Deposit is liable to 31.5% tax, which is deducted at source.
Tax: Interest earned on the NRO account is liable to 30% tax, which is deducted at source.
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