Can I claim DTAA treaty relief on NRO TDS?

YES if your country has a Double Taxation Avoidance Agreement with India — most major countries do (US, UK, UAE, Singapore, Canada, Australia, Germany, etc.). Submit Form 10F + Tax Residency Certificate to your bank at deposit time. Reduces TDS from 30% to 10-15% typically. You can also claim the TDS as credit in your home-country tax return.

Are NRE interest earnings really tax-free?

YES in India under Section 10(4)(ii). Interest on NRE deposits is fully exempt from Indian income tax. However, your home country may still tax this interest as global income (US, Canada, UK all tax worldwide income of tax residents). Check your home-country tax rules.

What happens when I return to India permanently?

Your NRI status ends; you become a Resident Indian. NRE/FCNR accounts must be re-designated as Resident FD or converted to RFC (Resident Foreign Currency) account within 3 months. NRO becomes regular savings/FD account. Interest earned after redesignation is FULLY TAXABLE. Notify banks promptly to avoid complications.

Can I claim DTAA treaty relief on NRO TDS?

YES if your country has a Double Taxation Avoidance Agreement with India — most major countries do (US, UK, UAE, Singapore, Canada, Australia, Germany, etc.). Submit Form 10F + Tax Residency Certificate to your bank at deposit time. Reduces TDS from 30% to 10-15% typically. You can also claim the TDS as credit in your home-country tax return.

Are NRE interest earnings really tax-free?

YES in India under Section 10(4)(ii). Interest on NRE deposits is fully exempt from Indian income tax. However, your home country may still tax this interest as global income (US, Canada, UK all tax worldwide income of tax residents). Check your home-country tax rules.

What happens when I return to India permanently?

Your NRI status ends; you become a Resident Indian. NRE/FCNR accounts must be re-designated as Resident FD or converted to RFC (Resident Foreign Currency) account within 3 months. NRO becomes regular savings/FD account. Interest earned after redesignation is FULLY TAXABLE. Notify banks promptly to avoid complications.

NRI FD Calculator (NRE/NRO/FCNR)

Fixed Deposit calculator for Non-Resident Indians — NRE (tax-free, repatriable), NRO (taxable, restricted repatriation), FCNR (foreign currency). India bank rates + tax handling.

Result

Maturity value (net)

₹1,231,439

Deposit₹1,000,000
Gross interest earned₹231,439
Tax on interestNRE interest fully exempt under Section 10(4)(ii)TAX-FREE
Net interest₹231,439
Effective post-tax return7.19%

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How to use this calculator

Enter deposit amount.
Choose account type (NRE / NRO / FCNR).
Enter interest rate + tenure.
Read maturity value + effective post-tax return.

About this tool

NRI FDs come in three flavors: NRE (Non-Resident External) — for income earned abroad, tax-free interest, fully repatriable to any country. NRO (Non-Resident Ordinary) — for income earned in India (rent, dividends, capital gains), interest taxable at slab (30% TDS default), USD 1M/year repatriation cap. FCNR (Foreign Currency Non-Resident) — deposit in USD/EUR/GBP/etc., tax-free, no forex risk, principal + interest both in the foreign currency. NRE is optimal for surplus foreign income. NRO is mandatory for India-sourced income. FCNR is best when you want to preserve foreign currency exposure. All three quarterly compounded.

Frequently asked

NRE: for salary/business income earned abroad. Fully tax-free in India, repatriable without limit. NRO: mandatory for India-sourced income (rent from India property, dividends from Indian companies, sale proceeds of Indian assets). Interest taxable at 30% TDS. FCNR: keeps deposit in foreign currency (USD, EUR, GBP, JPY, CAD, AUD) — no forex risk if you plan to return money to home country. Most NRIs open NRE + NRO both; FCNR only if forex-risk-averse.

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