NRO Fixed deposit

Easy investment with attractive interest rates. 

The minimum amount for initial deposit is Rs. 25,000, and you can book add on deposits in multiples of Rs. 10,000

Transfer funds from an existing NRE/ NRO account with another bank in India to create NRO deposit. 
Convenience of booking NRO Fixed deposit through Netbanking. 

Interest rate

Earn attractive rates on your deposits

Option to get interest credited in your account on Monthly, Quarterly or at Maturity of the deposit.  

Click here to view the latest interest rates for a NRO Fixed Deposit 


Flexible deposit tenure from 7 days to 10 years


You can break your deposits before maturity. In case of premature closure of NRO Fixed Deposit, interest rate will be 1% below of the contracted rate or rate applicable for the period of deposit has remained with the bank, whichever is lower except for tenor 7-14 days. You will be entitled for interest if you have held it for over 7 days. 
Click here for more details


Enjoy an overdraft facility of up to 90% of the deposit (only on NRO CASA account)


Repatriate or credit to NRE account,  the interest earned on your NRO deposit account under current income scheme 

Joint account

You can open an NRO FD jointly with a Resident Indian or Non resident Indian   In case of jointly held with resident Indian the mode of operation will be " former or survivor" 


Name a nominee for your NRO Fixed Deposit


Interest earned on NRO Savings Account / NRO Fixed Deposit is subject to Tax deduction at source *(w.e.f Aug 09). TDS is deducted at 30% plus applicable surcharge and cess. 

As per section 206AA introduced by Finance (No. 2) Act, 2009 w.e.f 01.04.2010, every person who receives income on which TDS is deductible shall furnish his PAN Number to the deductor, failing which TDS shall be deducted at the maximum marginal rate or 30% plus applicable surcharge and cess whichever is higher. The interest on NRO Accounts / Deposits and PIS transactions would be covered by the said rule 

* TDS, when due and applicable will be deducted in accordance with the provisions of the Income Tax Act, 1961 and the Rules thereunder as in force. Such TDS shall be recovered from saving/current/demand deposit a/c(s).

Double Taxation Avoidance Agreement (DTAA) 

Double Taxation Avoidance Agreement (DTAA) is an agreement entered by India with various countries. Under the current DTAA provisions, customer can enjoy concessional rate of Tax Deducted at Source (TDS) on interest earned in India. Hence by registering for DTAA clients can earn higher yield on their NRO deposits (FD as well as Savings Account).

NRIs who wish to avail DTAA benefit have to mandatorily provide 'Tax Residency Certificate (TRC)' to the deductor (Bank). This is applicable for all NR customers who wish to avail DTAA benefit with effect from 1st April 2012. 

TRC is issued by the tax/government authority of the country where the NRI resides. So, customers have to check with the Tax Department or Finance Ministry in their country or with their Chartered Accountant abroad for the procedure to obtain TRC. No other document in lieu of TRC shall be considered for availing the DTAA rate for the said year.

If you are desirous of availing the tax rate deduction as per the DTAA, the same will be applicable once you submit the below mentioned documents: 

Documents Required:

1) DTAA Annexure. Click Here

2) PAN Card Copy self-attested 

3) TRC. Click here  to know details to be furnished in TRC

4) Form 10F*  Click Here

*Form 10F need to be generated electronically on income tax e-portal and steps to followed for generating 10F are as follows: 

1. Nonresident assessee has to log into his account

2. Go to e File Tab 

3. Select ‘Income Tax Forms’ Then select ‘File Income Tax Forms’ 

4. Next, select ‘Persons not dependent on any Source of Income (Source of Income not relevant)’ 

5. From the list of forms available, find Form 10 F 

6. Select the relevant Assessment Year (As on date, online Form 10 F can be filed only for AY 2022 23 Option to furnish the same for AY 2023 24 is not available 

7. Fill the requisite details in Form 10 F Please note that copy of TRC has to be attached along with Form 10 F 

8. Verify/Sign Form 10 F 

As per Rule 131 of Income tax Rules, 1962 the prescribed forms (incl Form 10 F) have to be electronically furnished 

  1. i. under digital signature, if the return of income is required to be furnished under digital signature or  
  2. ii. through electronic verification code in a case not covered under clause i