Finance, Forex and Investments

What interest rate would an NRI get for his Rupees investment in term deposit in India?

And do I need to bring in overseas currency or will rupees do? Secondly, is any tax payable within India? Please answer only if you know what I am on about.

Public Comments

1. You don't tell us what country you now live in, but if a NRI invests in a term deposit of 6 months or greater then the applicable interest rate is between 7.5 and 9%. I have no idea about the taxes, but the bank could probably tell you that. Here are links to websites with further info: http://www.hsbc.co.in/1/2/personal/nri-services/usa http://www.hsbc.co.in/1/2/personal/bank-accounts/fixed-deposits/interest-rateshttp://syndicatebank.in/scripts/nriservices.aspx http://www.axisbank.com/nri/deposits/deposits.asp