Non Resident (Ordinary) Fixed Deposit
The Non Resident (Ordinary) Fixed Deposit Account is specially designed for NRIs seeking to invest their earnings in India. This account is perfect for those who wish to utilize their funds for local payments or investments within India on a non-repatriable basis. With tenures ranging from 1 to 10 years, it offers assured returns on your deposits. Although the interest earned is subject to Indian tax laws, it provides a reliable way to grow your funds while staying compliant. Whether you’re residing abroad but have financial commitments in India, or you’re planning for future investments back home, this account ensures that your savings are both secure and productive. Read more Read less
Why this fixed deposit is for you
Assured returns with global earnings anytime, anywhere
Invest your savings within India, perfect for managing local expenses or investments
Adhere to Indian tax laws while growing your funds, ensuring financial compliance
With online banking capabilities, manage your finances from abroad, keeping you connected to your investments in India
Make matters simple and straightforward
Plan it your way with our smart calculator
Term deposit calculator
Maturity amount
₹13,800/Months
Eligibility criteria
- NRIs residing abroad
- Indian students studying overseas
- Seafarers of Indian origin working for overseas shipping companies
- PIOs and OCIs
- Individuals holding a foreign passport (excluding Bangladesh and Pakistan) with Indian lineage, or spouses of Indian citizens
Documents required
- Resident card or foreign passport
- Relevant visa of overseas country
- Overseas residential proof
- PAN card or Form 60
- Document photocopies attested by officials from overseas Indian banks, notaries, magistrates, or Indian embassies/consulates
As easy as 1,2,3...
Apply for a NRO Fixed Deposit in 3 simple steps
Step 1
Visit your nearest branch
Go to your nearest Karnataka Bank branch
Step 2
Start with your basic details
Provide your basic details and keep your documents handy
Step 3
We’ll take care of the rest
Our branch officials will notify you when your deposit is opened
Explore other options for you
Trusted by thousands and handpicked for financial excellence
Got questions? We’ve got answers.
This account allows NRIs to invest their earnings in India, which can be used for local payments and investments on a non-repatriable basis.
This account is designed for Non-Resident Indians (NRIs), including professionals working abroad, government employees on foreign assignments, Indian students abroad, and seafarers of Indian origin. Persons of Indian Origin (PIOs) and Overseas Citizens of India (OCIs) are also eligible, making it inclusive for Indians globally.
The principal in the NRO Fixed Deposit Account is non-repatriable, but the interest can be repatriated, subject to tax compliance in India.
Yes, joint accounts with resident Indians are permitted, facilitating shared financial management with family in India.
Interest earned on these deposits is subject to Indian tax laws, aligning with financial regulations and compliance.
Tenures range from 1 year to a maximum of 10 years, offering flexibility for short-term and long-term financial goals.
Yes, nominating someone for your account ensures that in the event of unforeseen circumstances, the management and disposition of your deposit can be handled smoothly. This provides an added layer of security and ease for your family.
To download the KBL Mobile Plus app, visit the Google Play Store or Apple App Store on your mobile device. Search for 'KBL Plus' in the store, select the app published by Karnataka Bank, and click 'Install' to download it onto your device.
Yes, these funds can be used for local payments and investments within India on a non-repatriable basis.
You can manage your account through our digital banking services, offering convenience and accessibility from anywhere.
NRO fixed deposits serve as an excellent financial tool for NRIs to manage their income earned in India. These accounts offer practicality, allowing you to easily deposit earnings like rent, dividends, or pension. The NRO FD interest rates are set to provide steady growth over time, with the added convenience of repatriation of post-tax interest income. With an NRO FD account, NRIs can consolidate their earnings in India and enjoy returns at favorable NRO FD rates. It's essential to note that the interest earned on NRO FDs is subject to Indian income tax. However, the ease of setting up and managing these accounts makes them a preferred choice for many NRIs.
NRI services play a crucial role in bridging the financial needs of the Indian diaspora with the opportunities available in India. They provide a platform for NRIs to invest, save, and manage their earnings in their home country, even while they reside abroad. Services like NRI accounts, loans, and investment options ensure that NRIs can contribute to and benefit from India's economic growth. These services also aid in maintaining a financial connection with their homeland, which is crucial for those who plan to return or have familial and investment ties in India.
