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NRI Fixed Deposits

NRI Fixed Deposit in India 2019

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Non-Resident Indians (NRIs) looking to diversify their portfolios, keep looking for smart investment opportunities to grow their savings. As an NRI, you can always consider investing in fixed deposits offering guaranteed returns with attractive NRI interest rates.

Bajaj Finance offers FDs for non-resident Indians (NRIs), Overseas Citizen of India (OCI) and Person of Indian Origin (PIO). NRI/OCI/PIO can choose any tenor between 12 months and 36 months, as per their financial needs.

In addition to attractive FD interest rates of upto 8.70% that offer greater returns, one can claim tax benefit under Double Tax Avoidance Agreement (DTAA).

When investing in NRI fixed deposit in India, you may be looking for the best fixed deposit rates in India for NRI. Bajaj Finance Fixed Deposit offers one of the highest interest rates for NRI fixed deposit in India.

However, before you start investing, here are some considerations you must keep in mind:
1) As an NRI, you can invest your money only through NRO (Non-Resident Ordinary) accounts.
2) The following TDS rates are applicable for NRI fixed deposit in India.
If annual interest on deposit is less than Rs.50 lacs If annual interest on deposit is more than Rs.50 lacs, but less than 1 Cr If annual interest on deposit is more than Rs.1 Cr
31.2% 34.32% 35.88%
You can easily start making payments through a cheque or an RTGS/NEFT from NRO bank account.

Rate of Interest:

Tenor in Months Minimum deposit (in Rs.) Cumulative Non-Cumulative
Monthly Quarterly Half Yearly Annual
12 – 23 25,000 8.00% 7.72% 7.77% 7.85% 8.00%
24 – 35 8.05% 7.77% 7.82% 7.89% 8.05%
36 8.35% 8.05% 8.10% 8.18% 8.35%
A. Special category benefits on FDs up to 5 Cr (any one of i or ii):
i. Senior citizens – additional rate of 0.35%
ii. BFL customers* or Bajaj Allianz Life Insurance existing policyholders– additional rate of 0.10%
*for deposit-only customers, there should be a gap of 15 days between first and last deposit
B. On renewal, individual customers get additional rate of 0.10% over & above special category applicable up to 5 Cr
 

Source of Funds:

Funds to be deposited from NRO (Non resident Ordinary) bank account only. Funds from NRE (Non resident External) bank account will not be accepted

Mode of Payment:

Payment is accepted only through cheque or RTGS/NEFT from NRO bank account. Payment through demand draft, debit card, IMPS or UPI is not allowed

Loan Against Fixed Deposits:

Loan against fixed deposits is not available for NRI/OCI/PIO

  • Why invest in a Bajaj Finance Fixed Deposit?

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    Bajaj Finance Limited, the lending arm of the Bajaj Finserv group, is one of the most diversified NBFCs in the Indian market, catering to more than 31 million customers across the country.

    Bajaj Finance Limited prides itself on holding the highest credit rating of FAAA/Stable for any NBFC in the country today. It is also the only NBFC in India assigned with the international rating of ‘BBB’ with stable outlook for long-term, by S&P Global Rating.

    Join our 1.4+ lakh happy Fixed Deposit customers and avail a range of benefits:
    1) High interest rate - Bajaj Finance offers NRIs an interest rate of up to 8.35% if you are a new customer, and up to 8.70% to an existing customer on an FD of 12 to 36 months.
    2) Senior citizen rates – If you are a senior citizen, you can avail a high interest rate benefit, over and above regular fixed deposit interest rates for NRIs.
    3) Multi-deposits – You can invest in multiple NRI fixed deposits with a single cheque.
    4) Renewal – You can opt for renewal of your NRI fixed deposit in India at the time of investment.
    5) Guaranteed returns with high credibility rating –You can be assured of guaranteed returns with ICRA’s MAAA (stable) rating and CRISIL’s FAAA/Stable rating- the highest safety ratings in the industry.

    As an NRI, you can safeguard yourself from stock market fluctuations or intermittent interest rate movements by investing in a Bajaj Finance Fixed Deposit. You can also take advantage of periodic interest payouts (Non-cumulative FD) or make it grow and get full payment on maturity (Cumulative FD). With the convenience of investing online with Experia- your online fixed deposit account, it is easy to manage multiple NRI fixed deposit accounts.