Over the years, several investment options have been introduced. However, Fixed Deposit remains the most popular of all. Surety of returns, flexible tenure, and protection from market volatility are a few reasons behind the popularity of FDs. You can invest with any leading bank, offline or online.

NRI Fixed Deposit are designed primarily for non-resident Indians. It works like a resident FD but has a few additional features and benefits. You can consider three types of NRI FDs: Non-Resident External, Non-Resident Ordinary, and Foreign Currency Non-Resident Deposits. If you plan to invest in NRE FDs, you should know its eligibility criteria.

Whether you are an NRI, a Person of Indian Origin, or an Overseas Citizen of India, you can invest in NRE FDs. Further, coming to who can invest in NRO FDs, you should consider investing in the deposit if you meet the following requirements:

Want to make a simple investment

FDs are a perfect option if you want to make a simple investment. You only need to make a one-time lumpsum investment. Your deposit will earn you reasonable, guaranteed interest returns at a competitive interest rate for a specific tenure. The procedure to invest in NRE FDs is simple. As mentioned, you can invest offline or online. If you can have an NRI Account, the investment process gets streamlined.

Grow your foreign currency earnings

Investing in NRE FDs is a smart choice if you want to grow your foreign currency earnings. You can quickly deposit your then and earn good interest on it. Note that NRE FDs are maintained in Indian Rupees. Your foreign currency deposits are converted to INR on deposit. Once your investment matures, your money gets converted into the currency of your choice.

Earn tax-free interest earnings

If your goal is to earn tax-free interest, invest in NRE Deposit. Their principal sum and interest earnings do not draw any tax implications. This allows you to enjoy your investment returns fully without taxation draining them.

Enjoy full and free repatriation benefits

As an NRI, repatriation is likely an important concern during investments. With NRE FDs, you can fully and freely repatriate your interest earnings to your country of residence anytime. This gives you instant and unrestricted access to your money during emergencies.

Want easy investment management

You can invest in NRE Fixed Deposit with one or more NRI. This facilitates hassle-free investment management. You can also assign a nominee to your investment. This ensures that your hard-earned money goes to the right hands upon your demise.