Best Fixed Deposit Options for NRIs

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• Because of their safety and assured returns in
  turmoil economic situations, fixed deposits are
  one of the most popular financial instruments in
  India. Risk-averse Indian investors prefer to
  invest in fixed deposits. However, not only
  resident Indians but NRI (Non-residents Indians)
  can also deposit their earnings in foreign FDs in
  India. Multiple banks and NBFCs provide NRIs with
  financial services like NRE accounts, NRO
  accounts, home loans, personal loans fixed
  deposits, and a lot more.   

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Common FDs (Fixed Deposits) for non-resident
Indians (NRIs)  

• NRE Fixed Deposits
• NRO Fixed Deposits
• FCNR Fixed Deposits
• RFC Deposit

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NRI Fixed Deposit Benefits

• NRIs can enjoy the following benefits by
  investing in fixed deposit offered to them by
  Indian banks
• Secure investment and a higher rate of returns.
• Flexible tenure ranging from 7days to 10 years.
• A great way for people living overseas to save
  and manage income.
• No tax on two FDS (NRE and FCNR).
• Loan and overdraft are available on the FD.

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The difference among NRI FDs
Types of FDs/Criteria NRE NRO FCNR RFC
Currency (Deposit) Foreign  INR Foreign Foreign
Currency (withdrawal) INR INR Foreign INR
Tax Not taxable Interest is subject to tax Not taxable Tax can be claimed
Tenure 1 to 10 years 1 to 10 years 1 to 5 years 1 to 10 years
Repatriability Not fully repatriable Not fully repatriable Fully repatriable Repatriable on bonafide reasons
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NRI Fixed Deposit Accounts Eligibility criteria

• Following are the documents you will need to
  provide to invest in NRI FDs
• Passport
• Visa documents including work permit, permanent
  resident visa, the resident permit as well the
  employment visa along with other requested
  documents.   

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