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NRI Fixed Deposit Investment in India| Everything you Need to Know About NRI FD|YES BANK

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According to the World Bank’s last Migration and Development Report, India was the top recipient of foreign remittances. In 2018, the country received more than $79 billion as remittances. But a large sum of this money only garnered lower returns essentially because most of these funds were secure in a savings account rather than a fixed deposit account.

A Non-Resident Indian (NRI) fixed deposit (FD) is one of the most secure mediums for NRIs to earn legitimate interest in India. NRI FDs are low-risk investments that allow substantial growth of wealth over time. NRI FDs offer higher returns in comparison to a savings account. However, before investing in an NRI FD, you must understand these accounts in detail.


What is NRI Fixed Deposit Account? 

NRI FDs are similar to a general FD, where you can deposit your funds for a fixed tenure to earn attractive interest. That said, NRI FDs can be divided into four different categories:


  • NRE FDs: This type of FD only includes deposits in Indian currency. NRE FDs usually offer a higher rate of interest and flexible tenures in comparison to general FDs. They also provide repatriability of investment and the interest earned is tax-free.


  • NRO FDs: This type of FD also permits Indian deposits only. However, the interest rate on these FDs is usually similar to that of general FDs. Also, the interest amount is subject to tax. NRIs that have an Indian source of income have to open an NRO deposit.


  • Foreign Currency Non-Repatriable (FCNR) FDs: These FDs allow NRIs to deposit their money in foreign currencies that are accepted worldwide.


  • Resident Foreign Currency (RFC) Deposit: A lesser-known type of FD, suitable for NRIs who wish to shift back to India soon. The deposits can be made in foreign currency and the interest earned is fully repatriable.


Advantages of an NRI Fixed Deposit Account

Here are some of the advantages of securing your funds in an NRI FD account:

  • A safe and secure medium of investment

  • An opportunity to earn an attractive rate of interest

  • A better platform for accumulation of wealth

  • An ideal mechanism to deposit and save foreign income

  • An excellent medium to get tax benefits

  • Allow loans and overdraft against the FD amount at reasonable interest rates

  • Offers repatriability of investment, along with interest


Why choose YES BANK NRI Fixed Deposits?

YES BANK values your hard work and aims to benefit you in every way possible. YES BANK offers NRE FDs, NRO FDs, FCNR deposits and RFC FDs.

NRI FDs are an ideal investment option for those who want assured returns on their money. NRI FDs with YES BANK are secure, completely repatriable (as per the type of NRI FD) and offer attractive interest rates.


Key attractions and features of YES BANK NRI Fixed Deposits

  • Attractive interest earnings, allowing the better accumulation of wealth over time

  • Low deposit amount

  • Flexible tenure starting from one year onwards.

  • Automatic hassle-free renewal of deposits

  • No interest penalty on withdrawal of FD before 12 months (subject to FD type and other conditions)

  • Tax-free interest earnings. DTAA (Double Taxation Avoidance Agreement) for NRO deposits.

  • 24/7 access to funds through secure internet banking

  • Nomination facility

  • Option to bank across any YES BANK branch in India

  • Wide acceptance of currencies

  • Completely repatriability for specific FDs like NRE and FCNR deposits

  • Competitive exchange rates on foreign currency conversion to rupees



Overall, unlike other investment options, NRI FDs serve as a secure investment tool, unaffected by market fluctuations. You can earn guaranteed returns, while also allow your principal to grow steadily without risk. You can choose a particular YES BANK NRI FD that serves your financial condition and monetary interest.

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