NRI FD Calculator — NRE vs NRO vs FCNR
Compare the true post-tax maturity value of the same fixed deposit across NRE, NRO, and FCNR accounts.
The amount you are depositing (Rs) -- assumed the same across all three account types for comparison.
The rate your bank is offering (% p.a.) -- assumed the same across NRE/NRO/FCNR for comparison; real published rates can differ slightly by account type.
How many years is the FD for? (1-10)
NRO interest is taxed at your real marginal slab rate -- not the flat 31.2% TDS the bank deducts upfront. NRE and FCNR are exempt regardless of your slab.
NRE vs NRO vs FCNR — Post-Tax Comparison
NRE Account
- Gross Maturity Value
- ₹14.15L
- TDS Deducted
- ₹0
- Actual Tax Owed
- ₹0
- Net Maturity Value
- ₹14.15L
NRE interest is fully exempt from Indian income tax under Section 10(4)(ii), for as long as you remain an NRI -- no TDS, no tax owed.
FCNR Account
- Gross Maturity Value
- ₹14.15L
- TDS Deducted
- ₹0
- Actual Tax Owed
- ₹0
- Net Maturity Value
- ₹14.15L
FCNR interest is fully exempt from Indian income tax under Section 10(4)(ii), same as NRE. Note: FCNR deposits are held in foreign currency, so real returns also depend on exchange-rate movement, which this calculator does not model.
NRO Account
- Gross Maturity Value
- ₹14.15L
- TDS Deducted
- ₹1.29L
- Actual Tax Owed
- ₹1.29L
- Net Maturity Value
- ₹12.85L
NRO interest is fully taxable as "Income from Other Sources" at your slab rate. The bank deducts a flat 31.2% TDS (30% + 4% cess) under Section 195 -- now Section 393(2) of the Income-tax Act, 2025 -- on the full interest regardless of your actual slab. Your actual tax shown here is your slab rate plus 4% cess, so at the 30% slab the two match exactly.
This calculator illustrates NRE/NRO/FCNR taxation mechanics using Section 10(4)(ii) exemption rules and the flat Section 195 NRO TDS rate. It does NOT model surcharge on NRO TDS (relevant only for very high total Indian income), DTAA treaty relief (which can lower NRO TDS if you submit a Tax Residency Certificate + Form 10F -- see the DTAA lookup tool), or FCNR foreign-exchange risk. Verify your specific situation with a CA before making investment decisions.
Rates and rules last verified on 31 Aug 2026.
How the NRI FD Calculator Works
NRE, NRO, and FCNR fixed deposits grow by exactly the same compounding math for the same principal, rate, and tenure -- the only thing that differs between them is how much tax gets deducted from the interest. This calculator runs all three side by side so you can see the actual post-tax, in-hand difference, not just the headline interest rate.
NRE and FCNR deposit interest is fully tax-exempt in India under Section 10(4)(ii) -- nothing is deducted. NRO deposit interest is fully taxable, with the bank deducting TDS at a flat 31.2% (30% + 4% cess) on every payout, regardless of your actual income slab. If your real tax liability is lower than that, the difference comes back to you only when you file an Indian income-tax return.
Frequently asked questions
Since NRE/FCNR are tax-free, why would anyone choose NRO?
NRO is typically not a choice but a requirement -- it's the account India-sourced income (rent, dividends, a maturing old resident FD) must be routed through. NRE/FCNR are funded only by money remitted from abroad.
Can I get the extra TDS collected on my NRO FD back?
Yes, if your actual tax liability (computed at your real slab rate, including any DTAA relief you're eligible for) is less than the 31.2% withheld, you claim the difference as a refund when you file your Indian ITR.
Does this calculator factor in DTAA treaty relief on NRO interest?
No -- this tool compares the three account types on India's plain domestic TDS rates. If you hold a Tax Residency Certificate for a country with a favourable treaty, use the DTAA Calculator to see the reduced rate you may be able to claim on the NRO leg.