For Non-Resident Indians (NRIs) looking to secure their earnings in India, HDFC Bank offers Fixed Deposit (FD) options that provide stable returns. Choosing between Non-Resident External (NRE) and Non-Resident Ordinary (NRO) accounts is crucial, as they differ significantly in terms of repatriation and taxation. This calculator helps you estimate the maturity amount and interest earned on your HDFC NRI Fixed Deposit, accounting for quarterly compounding and applicable taxes on NRO accounts.
NRE (Tax-Free in India, Fully Repatriable)
NRO (Taxable in India, Repatriation Limits)
Enter the duration for which you want to lock the funds.
Check official HDFC NRI rates for your specific tenure slab.
Please enter valid numeric values for amount, tenure, and rate.
Estimated Maturity Details
Invested Principal:
Gross Interest Earned:
Estimated Tax (TDS on NRO):
Net Interest (Post-Tax):
Total Net Maturity Amount:
*Note: This calculator assumes quarterly compounding, which is standard for HDFC FDs over 6 months. NRO tax is estimated at a TDS rate of 31.2% (30% tax + surcharge/cess). Actual tax liability may vary based on DTAA treaties and specific regulations. Figures are indicative.
function calculateHdfcNriFd() {
var fdType = document.getElementById('fdType').value;
var principalStr = document.getElementById('principalInr').value;
var yearsStr = document.getElementById('tenureYears').value;
var monthsStr = document.getElementById('tenureMonths').value;
var rateStr = document.getElementById('interestRate').value;
var principal = parseFloat(principalStr);
var years = parseInt(yearsStr) || 0;
var months = parseInt(monthsStr) || 0;
var rateAnnual = parseFloat(rateStr);
// Validation
if (isNaN(principal) || principal <= 0 || (years === 0 && months === 0) || isNaN(rateAnnual) || rateAnnual < 0) {
document.getElementById('calcError').style.display = 'block';
document.getElementById('nriFdResult').style.display = 'none';
return;
}
document.getElementById('calcError').style.display = 'none';
// Calculation Logic
var totalTenureYears = years + (months / 12.0);
var r = rateAnnual / 100.0;
var n = 4; // Quarterly compounding frequency
// Compound Interest Formula: A = P(1 + r/n)^(nt)
var maturityAmount = principal * Math.pow((1 + r / n), (n * totalTenureYears));
var grossInterest = maturityAmount – principal;
// Tax Logic (NRO only)
var tax = 0;
var netInterest = grossInterest;
var netMaturity = maturityAmount;
if (fdType === 'nro') {
// Assuming flat 31.2% TDS for NRO (30% + 4% cess)
tax = grossInterest * 0.312;
netInterest = grossInterest – tax;
netMaturity = principal + netInterest;
document.getElementById('taxRow').style.display = 'block';
document.getElementById('netInterestRow').style.display = 'block';
} else {
// NRE is tax-free
document.getElementById('taxRow').style.display = 'none';
document.getElementById('netInterestRow').style.display = 'none';
}
// Currency Formatting
var formatter = new Intl.NumberFormat('en-IN', {
style: 'currency',
currency: 'INR',
minimumFractionDigits: 0,
maximumFractionDigits: 0
});
// Display Results
document.getElementById('resPrincipal').innerText = formatter.format(principal);
document.getElementById('resGrossInterest').innerText = formatter.format(grossInterest);
document.getElementById('resTax').innerText = formatter.format(tax);
document.getElementById('resNetInterest').innerText = formatter.format(netInterest);
document.getElementById('resNetMaturity').innerText = formatter.format(netMaturity);
document.getElementById('nriFdResult').style.display = 'block';
}
Understanding NRE vs. NRO Fixed Deposits
When investing in HDFC Fixed Deposits as an NRI, understanding the source of funds and tax implications is vital governing which account type to choose.
NRE (Non-Resident External) Fixed Deposit
An NRE FD is opened using foreign currency remitted from outside India. The key advantage is that the interest earned on NRE deposits is entirely **tax-free in India**. Furthermore, both the principal amount and the interest earned are fully repatriable (can be sent back abroad) without any limits.
NRO (Non-Resident Ordinary) Fixed Deposit
An NRO FD is typically funded by income originating within India, such as rent, dividends, or pension. Unlike NRE accounts, the interest earned on an NRO FD is **taxable in India**. Banks are required to deduct Tax Deducted at Source (TDS) on NRO interest, currently generally around 30% plus applicable surcharge and cess (totaling approx. 31.2%), unless a lower rate is applicable under a Double Taxation Avoidance Agreement (DTAA).
The Importance of Tenure and Interest Rates
HDFC Bank offers different interest rates depending on the "tenure slab" (the exact duration of the deposit). Interest on Indian FDs generally compounds quarterly. This means every three months, the interest earned is added to the principal, and subsequent interest is calculated on this increased amount. This calculator uses the quarterly compounding formula to provide an accurate estimate of your final maturity value.
Always check the latest HDFC NRI FD interest rate tables on their official website before investing, as rates are subject to change without notice.