Want to invest your Indian income in a safe and secure avenue?
Choose Metra Trust’s NRO FD account and enjoy multiple benefits. Let’s decode.
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Eligibility
NRI customers of the bank can open an account individually or jointly. The deposit would be held and redeemed in Indian Rupees (INR).
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Deposit details
The minimum amount to open the account is Rs.1,000 and there’s no maximum limit. The tenure starts from 7 days and goes up to 10 years.
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Interest
The interest rates start from 3% and go up to 7.75% p.a. Interest is accrued monthly and you can choose simple or compound interest on the deposit.
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Repatriation
You can repatriate the amount in the NRO FD account after paying the relevant taxes. The repatriation limit is USD 1 million in a financial year.
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Tax
Interest earned from the FD will be taxed in India at 30% + the applicable surcharge and cess. You might have to pay a tax in your residential country too.
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With attractive exchange rates on remittances and interest up to 7.75% p.a., Metra Trust’s NRO FD Account can be a good choice.