The present NRO Deposit interest rate varies from bank to bank. These rates are subject to change and may not be comprehensive, as there could be a rate differential also on account of the tenure. To view the latest interest rates for an NRO Fixed Deposit click here.

The interest earned on Fixed Deposits (FDs) in Non-Resident Ordinary (NRO) Accounts is subject to tax in India. Typically, a tax rate of 30% is deducted at source (TDS) on the interest income for NRIs. Additionally, applicable surcharge and cess may further increase the tax liability. However, NRIs can benefit from the Double Taxation Avoidance Agreement (DTAA) between India and their country of residence, which might lower the tax rate. To take advantage of DTAA, NRIs must submit necessary documents like tax residency certificates. For precise details, it’s advisable to consult with a tax advisor.

The minimum tenure for an NRO Fixed Deposit (FD) at HDFC Bank is 7 days. While short-term deposits offer flexibility, longer tenures usually provide higher interest rates, making them attractive for those looking to maximise returns.

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