What is NRI FD?
NRI fixed deposit is a type of fixed deposit account that lets Indians living abroad invest through their Non-Resident Ordinary (NRO) accounts. With this investment option, non-residential Indians can invest their money in the Indian currency of rupees and enjoy higher interest rates applicable on fixed deposits in India as compared to other nations.
NRI FD Interest Rates
Bajaj Finance FD on Finserv MARKETS offers one of the best interest rates on NRI fixed deposits. The NRI FD interest rates in Bajaj Finance’s NRI FD start at 5.85% for a cumulative type of FD for non-senior citizen investors for a tenor of 12 to 23 months. The interest rates in Bajaj Finance NRI fixed deposits are as high as 7.35% for a maximum deposit of up to ₹5 crore and a minimum deposit value of ₹15,000.
Senior citizens get an additional benefit of 0.25% per annum while investing in Bajaj Finance NRI fixed deposit. Another interesting aspect of Bajaj Finance NRI FD interest rates is that a 0.10% per annum over and above the rate of interest or card rate is applicable at the time of renewal of deposit. Here is a look at the Bajaj Finance NRI FD interest rates.
Fixed Deposit Annualized rate of interest for non- senior citizens Valid for deposits up to Rs.5 crore (w. e. f. 1st July, 2022)
Non-Senior Citizen FD Rates
Period |
Minimum deposit (in Rs.) |
Cumulative At Maturity (% p.a.) |
Non-Cumulative |
|||
|---|---|---|---|---|---|---|
Monthly (% p.a.) |
Quarterly (% p.a.) |
Half Yearly (% p.a.) |
Annual (% p.a.) |
|||
12 – 23 months |
15,000 |
6.2% |
6.03% |
6.06% |
6.11% |
6.2% |
24 – 35 months |
6.95% |
6.74% |
6.78% |
6.83% |
6.95% |
|
36 - 60 months |
7.4% |
7.16% |
7.2% |
7.27% |
7.4% |
|
Special Tenure FD Rates for Non-Senior Citizens
Period |
Minimum deposit (in Rs.) |
Cumulative At Maturity (% p.a.) |
Non-Cumulative |
|||
|---|---|---|---|---|---|---|
Monthly (% p.a.) |
Quarterly (% p.a.) |
Half Yearly (% p.a.) |
Annual (% p.a.) |
|||
15 months |
15,000 |
6.4% |
6.22% |
6.25% |
6.3% |
6.4% |
18 months |
6.5% |
6.31% |
6.35% |
6.4% |
6.5% |
|
22 months |
6.65% |
6.46% |
6.49% |
6.54% |
6.65% |
|
30 months |
7.05% |
6.83% |
6.87% |
6.93% |
7.05% |
|
33 months |
7.15% | 6.93% | 6.97% | 7.03% | 7.15% | |
44 months |
7.5% |
7.25% |
7.3% |
7.36% |
7.5% |
|
Bajaj Finance’s NRI fixed deposit is one of the best investment options available for non-residential Indians. The payment for Bajaj Finance NRI FD is accepted through cheque or RTGS/NEFT from the NRO bank account. Here is a look at how to invest in a Bajaj Finance FD.
Go to the official link of the Bajaj Finance NRI FD lead form.
Enter the required credentials carefully such as your name, email ID, country of residence, intended deposit amount and other important details.
Cross-check all the details once and submit.
A representative of Bajaj Finance will get in touch with you for further process.
Important Benefits of NRI FD
An NRI fixed deposit is one of the safe and secure investment options for non-residential Indians
The NRI FD interest rates are higher in India than in several other countries
You can also avail overdraft and loan against FD option on your NRI fixed deposit
The nomination facility is also provided for an NRI FD
With such benefits, NRI FD becomes the ideal option to save money earned abroadome tax for NRI fixed deposits.
- What is an FD?
- How do FDs work?
- How to calculate FD Interest?
- Loan against FD
- TDS on FD
- Why choose a Bajaj Finance FD?
- Monthly Interest on an FD
- Monthly Interest on ₹1 Lakh Fixed Deposit
- Monthly Interest on ₹10 Lakh Fixed Deposit
- Monthly Interest on ₹20 Lakh Fixed Deposit
- Monthly Interest on ₹5 Lakh Fixed Deposit
FAQs
-
✔️What is NRI FD?
NRI FD is a fixed deposit investment option for non-residential Indians.
-
✔️How can NRIs invest with Bajaj Finance?
NRIs can easily invest in Bajaj Finance with its NRI FD option. It can be started with an easy and hassle-free online application process.
-
✔️Can NRIs avoid paying double tax?
Yes, you can avoid paying double tax on income earned in the source country and residence country. You will have to claim benefits under the Double Tax Avoidance Agreement (DTAA).
-
✔️Is PAN mandatory for NRI FD?
Yes. According to the Securities and Exchange Board of India (SEBI), if an NRI wishes to invest in India, having a PAN card is mandatory. Once you invest in India, the amount becomes taxable and therefore having a PAN is also applicable to an FD investment.
-
✔️Is TDS applicable on NRI FD?
Yes, Tax Deducted at Source or TDS is applicable for NRI fixed deposit. However, there are different rules for income tax for NRI fixed deposits.
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