NRE vs NRO vs FCNR Deposit Comparator
The 3-way NRI deposit decoder — post-tax returns, repatriation rules, and rupee depreciation modelled.
Deposit & Tenure
≈ USD 55,556 at ₹90/USD
Indian Tax Slab (for NRO)
Foreign Tax Slab (for FCNR)
Leave at 0% if your country offers DTAA relief / tax exemption on FCNR interest.
Rates
Typically same as NRE for INR FDs
Long-term INR/USD drift assumption
Post-tax maturity value after 3 years
Beats runner-up (NRE FD) by ₹2.90 L — rupee depreciation at this pace beats INR FD returns.
Final INR Value — All 3 Options
Post-tax maturity value at end of year 3
Year-by-Year Accrual
How each deposit grows year on year (NRO shown net of Indian tax; FCNR shown net of foreign tax and converted to INR at projected rate)
NRE beats NRO by ₹3.38 L
NRO interest is taxed in India at your slab rate (30%) plus surcharge and cess, while NRE interest is fully tax-free. If your money was earned abroad, there is no reason to park it in NRO.
FCNR locks in USD — hedges rupee risk
If the rupee falls faster than 3% p.a., FCNR becomes more attractive in INR terms. If the rupee stays stable or strengthens, NRE wins because of the higher INR interest rate.
NRO has a narrow purpose
NRO exists only for INR-sourced income that cannot flow into NRE — Indian rent, dividends, pension, or proceeds from Indian assets. Repatriation out of NRO is capped at USD 1 million per financial year.
FEMA re-designation on return
If your residential status changes, NRE/NRO/FCNR accounts must be re-designated under FEMA rules. Consult your Relationship Manager before your move — RBI treats a 180-day India stay as a trigger.
Which account for what?
Foreign earnings you want to park in India tax-free, want full repatriation flexibility, and are comfortable with INR-denominated returns.
Indian rental income, dividends, pension, or any rupee income earned in India that cannot flow into an NRE account.
Holding USD, GBP, EUR, JPY etc. for 1–5 years, hedging rupee depreciation, and keeping interest fully tax-free in India.
CFP Note — FEMA, RBI & DTAA
- FEMA compliance: NRE/NRO/FCNR accounts are governed by FEMA. Mis-classification of residency can trigger penalties and forced re-designation.
- RBI 180-day rule: If you spend more than 182 days in India in a financial year, you may lose NRI status and must re-designate accounts to Resident / RFC as applicable.
- DTAA on FCNR: Interest on FCNR is tax-free in India, but may be taxable in your country of residence. DTAA between India and your country determines relief.
- Repatriation limits: NRE/FCNR are fully repatriable; NRO is capped at USD 1M per financial year with a CA-certified 15CA/15CB form.
Consult your Relationship Manager and a qualified tax advisor before choosing between the three — the right answer depends on residency horizon, source of funds, and currency view.
Need help structuring your NRI deposits?
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Calculator results are for illustration purposes only. Actual returns may vary based on market conditions, fund performance, and other factors. Mutual fund investments are subject to market risks. Read all scheme-related documents carefully before investing. Past performance does not guarantee future returns. NRE, NRO, and FCNR deposit rates shown are illustrative and vary by bank and tenure. FCNR interest is tax-free in India but may be taxable in your country of residence; DTAA rules apply. NRO interest is subject to TDS at 30% plus surcharge and cess. Repatriation from NRO is capped at USD 1 million per financial year per RBI rules and requires Form 15CA/15CB. FEMA and RBI residency rules change — verify current status with your bank and a qualified tax advisor before acting on the output above.
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