Dhanesh Chauhan asked on 16/11/2020
Is NRI FD Taxable?
There are 3 types of NRI FDs you can choose from and 2 of them are not taxable.
- Non-Resident External (NRE) FD: For income generated outside India, maintained in INR. There is no tax in India on the interest earned.
- Non-Resident Ordinary (NRO) FD: For income generated in India, maintained in INR. The interest earned is taxed at 30% along with surcharge and cess (in form of TDS)
- Foreign Currency Non-Resident (FCNR) Deposit: Foreign Currency investment in India, maintained in foreign currency. Interest earned is not taxable in India.
SBNRI can help you in seamlessly opening an NRI FD at the comfort of your home. Click on the button below to book an NRI FD now. Think of India. Think SBNRI.