TDS a bank deducts on NRO fixed deposit interest, at 31.2% or your treaty rate
Estimates only, not financial advice. What you type stays on your device. Checked against sources on 30 Oct 2026.Interest on an NRO fixed deposit is taxed in India, and the bank deducts TDS before you see it: 30% plus 4% cess, which is 31.2%, with surcharge added only once the interest passes ₹50 lakh. A resident of a treaty country who gives the bank a Tax Residency Certificate can ask for the lower treaty rate instead. Enter the deposit and rate to see the TDS year by year and what reaches you at maturity.
FY 2026-27 · Rates and rules read from the sources listed on this page (the earliest on 30 Oct 2026); they may have changed since.
"NRO deposit" is already selected under "Show".
Enter the "Deposit amount", the tenure and the "NRO FD rate" your bank quotes.
Under "TDS on NRO interest", keep the Income-tax Act rate, or choose "Treaty rate, with TRC" and set "Treaty rate on interest (example)".
Read the "TDS on NRO interest" and "NRO maturity after TDS", and open "Year by year" for the TDS in each year.
A non-resident Indian can hold two kinds of rupee fixed deposit, and the same deposit at the same rate can end with very different amounts. This calculator works out both side by side: the interest, the tax India deducts, and the maturity value.
NRO: TDS at 31.2%. NRO interest falls under section 393(2), Table serial 17. The Finance Act, 2026 sets the rate for a non-resident Indian at 30%, plus 4% health and education cess, which is 31.2%. Surcharge is added only when the interest passes ₹50 lakh (10%), ₹1 crore (15%), ₹2 crore (25%) or ₹5 crore (37%).
How the numbers are worked out. Interest compounds quarterly, the usual practice of Indian banks, with simple interest for any months after the last full quarter. On the NRO deposit, TDS is taken from the deposit once every twelve months, so later years earn interest on the smaller balance. A bank does it at 31 March and at maturity, so its figure can differ by a few rupees.
The rest of the article, and all 6 questions about NRE / NRO FD Calculator, are on the NRE / NRO FD Calculator page.
Give your bank a Tax Residency Certificate from the government of the country you live in, with the other documents the rules prescribe, usually before the interest is credited. Section 159 of the Income-tax Act, 2025 then lets the bank apply the treaty rate when it is lower than 31.2%. Treaty rates on interest differ by country, so check yours.
For money earned abroad, an NRE deposit usually ends ahead because its interest is not taxed in India, and both principal and interest can be sent back freely. An NRO deposit is for income earned in India, such as rent or pension. Compare both here at your bank's rates: on ₹10 lakh at 7% for a year, the gap is ₹22,420.
Yes, if your total income in India is taxed at less than what was deducted. File an Indian income-tax return for the year, declare the interest and claim the TDS shown in your tax credit statement; the excess is refunded. The calculator shows the TDS the bank deducts, not the tax you finally owe.
No. FCNR deposits are held in a foreign currency, so their value in rupees depends on the exchange rate, which this calculator does not model. FCNR interest has its own tax treatment, which is not covered here either. Use this page for rupee NRE and NRO fixed deposits with quarterly compounding.
Rates and rules change; check the source before you rely on a figure.
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