NRI Fixed Deposit | FD Accounts & Rates

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NRI fixed deposits

Help your money grow while you're living away from India

With our NRI fixed deposits, you can earn an attractive rate of interest on your savings while you're living abroad. Whether you want to save in rupees or foreign currency, we've got a deposit account for you.

Earn more interest on your money

Get a higher rate of interest than you'd typically receive from an NRI savings account.

Save in rupees or foreign currency

Keep your money in rupees or foreign currency, depending on which account you choose.

Choose the term you want

Select a tenure of up to 5 years, with the option to auto-renew[@nri-deposit-auto-renewal].

View your account online

Keep track of how your balance is growing with online banking or our Mobile Banking app.

NRE Fixed Deposit Account

Earn tax-free interest in India on your income from abroad for a fixed period of time.

Key information

Interest: tax-free in India

For: foreign earnings

Held in: Indian rupees

Repatriable: fully

Minimum tenure: 1 year

NRO Fixed Deposit Account

Earn a higher rate of interest on your Indian income while you're living away.

Key information

Interest: taxable in India

For: Indian earnings

Held in: Indian rupees

Repatriable: restricted[@nri-nro-remittance]

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Minimum tenure: 7 days

FCNR Deposit Account

Enjoy tax-free interest in India on your earnings from abroad without having to convert them to rupees.

Key information

Interest: tax-free in India

For: foreign earnings

Held in: foreign currency

Repatriable: fully

Minimum tenure: 1 year

RFC Deposit Account

An account for returning NRIs who want to keep their savings in foreign currency.

Key information

Interest: tax-free in India

For: foreign earnings

Held in: foreign currency

Repatriable: fully

Minimum tenure: 31 days

Things to know before you apply

Who can apply for an NRI fixed deposit account?

To apply for one of our NRI fixed deposit accounts, you must:

Be a non-resident Indian (NRI), a person of Indian origin (POI), an overseas citizen of India (OCI) or a seafarer employed with foreign vessels
Be able to deposit the minimum amount for that account

Additional eligibility criteria may apply.

All our NRI fixed deposit accounts can be held jointly with another NRI or a resident Indian. Please see the individual account pages for details.

Adding a power of attorney

You can grant a power of attorney to a family member in India, which gives them the power to perform certain transactions with your account.

You can set up a power of attorney by visiting one of our branches, either with a completed power of attorney form or without one (you'll need to complete one in branch if you don't have one). Please contact us for more details or to arrange an appointment.

Adding a nominee

A nominee is someone who would take control of your account if you were to die.

You can add a nominee to your account quickly and easily through online or mobile banking, or by visiting one of our branches.

Apply for an NRI fixed deposit account

Leave your details and we'll call you back straight away to discuss your application.

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The benefits of an NRI deposit account

Do you prefer more certainty in terms of investment returns? NRI deposits might be what you're looking for.

Understanding NRI income tax rules

See how the different tax guidelines, exemptions and deductions will affect what you pay as a non-resident Indian.

Non-resident Indian (NRI) services

Manage your finances in India effortlessly from wherever you are with our NRI accounts and services.

Notes

All foreign currency transactions through HSBC India are subject to applicable taxes.

Goods and Services Tax (GST) regulations and notified GST rates, Central GST and , State/Union Territory GST, and Cess as applicable or Inter-State GST, as applicable, would apply on our fees and charges.

The transaction value for forex conversion services is calculated as shown in the table.

**Currency transfer fees**
Currency transfer fees of currency exchanged	Value of Supply
Up to ₹100,000	1% of gross amount exchanged, subject to minimum amount of ₹250
From ₹100,001 to ₹10,00,000	₹1000 plus 0.5% of gross amount exchanged
Above ₹10,00,000	₹5500 plus 0.1% of gross amount exchanged, subject to maximum of ₹60,000

**Currency transfer fees**
Currency transfer fees of currency exchanged	Up to ₹100,000
Value of Supply	1% of gross amount exchanged, subject to minimum amount of ₹250

Currency transfer fees of currency exchanged	From ₹100,001 to ₹10,00,000
Value of Supply	₹1000 plus 0.5% of gross amount exchanged

Currency transfer fees of currency exchanged	Above ₹10,00,000
Value of Supply	₹5500 plus 0.1% of gross amount exchanged, subject to maximum of ₹60,000

Non-Resident Indian (NRI) accounts and /or deposits are under the Reserve Bank of India programme for Non-Resident Indians and are governed by the rules in effect from time to time relating to such programmes, are subject to the sovereign risk arising from and governed by the laws of, or any changes to the laws of India.

NRI deposits/ accounts are held with The Hongkong and Shanghai Banking Corporation Limited, India (HSBC India) and are not insured by any insurance company or corporation outside India and are payable only at the branch of the Bank in India where the deposit is made.

The deposit is being taken by The Hongkong and Shanghai Banking Corporation Limited, India, a banking Company incorporated under the Companies Ordinance of the Hongkong Special Administrative Region (HKSAR), having its registered office at 1, Queen’s Road Central, Hongkong, having its India Corporate Office at 52/60, Mahatma Gandhi Road, Fort, Mumbai - 400 001. The Hongkong and Shanghai Banking Corporation Limited, India (HSBC India) is regulated for any deposit taking business by Reserve Bank of India. If you have a complaint about our deposit taking business, which cannot be resolved to your satisfaction by ourselves, then you may be able to refer this to Grievance Redressal Mechanism of the Bank. Your deposit may be guaranteed under Deposit Insurance and Credit Guarantee Corporation (DICGC) which covers most types of deposit-taking business in the instance that we cannot meet our obligations. The Hongkong and Shanghai Banking Corporation Limited, India (HSBC India) has paid up capital and reserves of INR M 461,968 as at 31 March 2025.

NR deposits with the Bank in India are not insured by Federal Deposit Insurance Corporation (FDIC) of the USA, nor by any other insurance company or corporation outside India and are payable only at the branch in India where the deposit is made.

Under current US tax laws, US citizens and residents are subject to tax on their worldwide income. You should consult your tax advisor for the US treatment of income from these deposits.

NRI accounts and services are offered by The Hongkong and Shanghai Banking Corporation Limited, India (HSBC India). HSBC India is a branch of The Hongkong and Shanghai Banking Corporation Limited. The Hongkong and Shanghai Banking Corporation Limited has a Representative Office in the UAE licenced by the Central Bank of the United Arab Emirates.

Deposits/accounts held with HSBC India are not protected deposit and are not protected by Deposit Protection Scheme in Hong Kong.

For Residents within Kingdom of Bahrain, we remind you that deposits made with HSBC India do not benefit from the protection provided under the Deposit Protection Scheme established by the Central Bank of Bahrain regulation concerning the establishment of a Deposit Protection Scheme and a Deposit Protection Board.

NRI services are provided by HSBC India. HSBC India is the branch of The Hongkong and Shanghai Banking Corporation Limited and HSBC India is not regulated in Canada. NR deposits with the Bank in India are not insured by Canadian Deposit Insurance Corporation (CDIC), nor by any other insurance company or corporation outside India and are payable only at the branch of the Bank in India where the deposit is made. You should consult your tax advisor for the Canada treatment of income from these deposits.

Deposits and accounts held with HSBC India are not protected by the Australian Financial Claims Scheme.

NRI fixed deposits

Help your money grow while you're living away from India

Why choose NRI fixed deposits from HSBC?

Earn more interest on your money

Save in rupees or foreign currency

Choose the term you want

View your account online

Explore our NRI fixed deposit accounts

NRE Fixed Deposit Account

NRO Fixed Deposit Account

FCNR Deposit Account

RFC Deposit Account

Things to know before you apply

Who can apply for an NRI fixed deposit account?

Adding a power of attorney or nominee

Account documents and useful links

Apply for an NRI fixed deposit account

You might also be interested in

The benefits of an NRI deposit account

Understanding NRI income tax rules

Non-resident Indian (NRI) services

Notes

Revised Goods and Services Tax information

Disclaimer

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