Non–Resident Ordinary (NRO) 80C Tax Saver Fixed Deposit Account
Key Highlights
- Dual benefits of attractive interest rates and tax saving
- Invest as small as Rs 25,000
- Get tax deduction up to Rs 1,50,000 under Section 80C in the year of investment
- Flexible interest pay-out – monthly, quarterly or reinvestment in principal.
Know before you invest:
- 5-year lock-in period
- Minimum investment of Rs 25,000 and maximum of Rs 1,50,000 for a duration of 5 years
- No premature withdrawal and auto-renewal facility
- Interest earned is taxable
- FD allows only a one-time lump sum deposit.
Features and benefits:
- Low deposit amount: Rs 25,000
- Maximum deposit amount: Rs 1,50,000
- Tenure: 5 years
- Joint Holder option: Add Indian Resident or Non-Resident Indian as joint holder.
- Easy movement: Interest earned in the current financial year is fully repatriable (after deducting tax). Funds in the NRO Account can be repatriated up to USD one million per financial year for all bonafide purposes.
- Higher yield post tax: By availing of DTAA benefit facility.
- Quick processing: Electronic Deposit Confirmation Advice (E–DCA) on your e-mail ID within 1 working day (if you have subscribed for account statement through e–mail).
Tax Deducted at Source (TDS): Interest earned on NRO Tax Saver Deposits is subject to the applicable tax deduction at source. Click Here to know the current TDS rates applicable on interest earned on NRO Accounts/Deposits. You can reduce this TDS by availing of DTAA facility.
Terms and Conditions apply.
