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Introducing the First-in-industry IDFC FIRST Bank's Super Account
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NRI Fixed Deposit
Grow your global earnings with a secure NRI Fixed Deposit.
Fixed Deposit for NRI: Secure and High Returns
IDFC FIRST Bank provides a range of Fixed Deposit options tailored to suit your income sources and financial goals—whether it’s the NRE Fixed Deposit for fully repatriable foreign income, the NRO Fixed Deposit for income earned in India, or the FCNR (Foreign Currency Non-Resident) account for deposits in major foreign currencies. Each account type is designed to provide higher interest rates, flexible tenures, easy renewals, and reliable customer service. Whether you are a seafarer, overseas employee, or global investor, our deposit products ensure your money works hard while you are away. Read more By choosing IDFC FIRST Bank, you gain access to stable returns and a seamless digital experience—all while ensuring your money is securely invested. Whether you are a seafarer, overseas employee, or global investor looking for long-term wealth creation, opening an NRI Fixed Deposit can be your next wise choice. Read less
Types of NRI Fixed Deposits
NRE Fixed Deposit
Ideal for NRIs who wish to grow their foreign income in India while enjoying full repatriability and tax-free interest.
- Held in Indian Rupees
- Full repatriability of both principal and interest
- Interest earned is exempt from income tax in India
- Flexible tenures ranging from 1 year to 10 years
- Attractive interest rates with auto-renewal facility
NRO Fixed Deposit
Designed for NRIs earning income in India from sources like rent or dividends, with secure management and limited repatriation.
- Held in Indian Rupees
- Repatriation allowed up to USD 1 million per financial year (post-tax)
- Interest earned is taxable in India as per prevailing laws
- Joint account with an Indian resident permitted
- Overdraft and nomination facilities available
FCNR Fixed Deposit
Ideal for NRIs who want to retain deposits in foreign currency and avoid exchange rate risk.
- Maintained in several major foreign currencies including USD, GBP, EUR, AUD, and SGD.
- Fully and freely repatriable principal and interest
- Interest earned is tax-free in India
- Protection from currency fluctuations
- Flexible tenure options from 1 to 5 years for USD and 1– <2 years for other currencies with competitive rates
Why Open an NRI Fixed Deposit with IDFC FIRST Bank?
Earn higher interest rates with NRI Fixed Deposits
Get flexible tenures options
NRE and FCNR FDs offer tax-free interest income under Indian tax laws.
Open and manage your NRI FD from anywhere in the world digitally
Get robust customer support round the clock across time zones
Strong banking security, ensuring the safety of your funds
Hassle-free renewal for uninterrupted investment growth
Enjoy full and free repatriation of funds from NRE and FCNR Fixed Deposit accounts.
Pre-requisites for opening an NRI Fixed Deposit
You must have an active NRI bank account (NRE or NRO) with IDFC FIRST Bank to initiate the deposit. The following documents are required to open a NRI Savings account with IDFC FIRST Bank.
• Identity proof: Passport
• Non-resident status proof: Visa, PIO card, foreign passport with PIO declaration, CDC with valid contract (for seafarers), resident permit/card
• Overseas address proof: Passport, driver’s license, national ID, utility bills, bank statement, council tax/voter ID
• Tax details: PAN or Form 60, FATCA details
• Other requirements: Recent colour photograph, signature image (for online applications)
Note: If not submitting in person, documents must be certified by a notary, Indian embassy, overseas Indian bank, or an international branch of an Indian bank.
Frequently Asked Questions (FAQs)
What is the difference between NRE and NRO Fixed Deposit accounts?
NRE FDs are used to deposit income earned abroad and offer full repatriability of both principal and interest, with no tax liability in India. On the other hand, NRO FDs are meant for income earned within India, such as rent or dividends, and are subject to TDS as per Indian tax laws. Repatriation is allowed up to USD 1 million per financial year for Bonafide purpose with documentations.
What is an FCNR Fixed Deposit?
An FCNR (Foreign Currency Non-Resident) FD allows NRIs to maintain Fixed Deposits in foreign currencies such as USD, GBP, EUR, etc. These accounts are fully repatriable and offer protection against exchange rate fluctuations. Interest earned is tax-free in India.
Are NRI Fixed Deposits taxable in India?
Taxation depends on the type of Fixed Deposit. NRE and FCNR Fixed Deposits are exempt from income tax in India, whereas NRO Fixed Deposits are taxable, and the bank deducts TDS on interest income as per prevailing tax rates.
What are the tenure options for NRI Fixed Deposits?
Tenure varies based on the FD type. NRE FD offers tenures ranging from 1 year to 10 years, NRO FDs offers tenures ranging from 7 days to 10 years, while FCNR FDs are offered for 1 to 5 years for USD and 1– <2 years for other currencies with competitive rates.
How does repatriation work for NRI FDs?
NRE and FCNR Fixed Deposit accounts allow full repatriation of both principal and interest. NRO FDs allow limited repatriation (up to USD 1 million per financial year) after tax deduction and documentation.
Which type of NRI Fixed Deposit should I choose?
The right FD depends on your income source and currency preference. An NRE Fixed Deposit is ideal for if you wish to book deposit from your foreign income, an NRO Fixed Deposit is ideal if you wish to book deposit from Indian income, and an FCNR Fixed Deposit if you prefer to retain your savings in foreign currency.
