7/3/2024, 11:12:03 am

NRO deposit rates: These banks offer up to 7.25% interest on 2-year deposit

Non-resident ordinary (NRO) bank accounts are meant for non-resident Indians (NRI) to manage their income earned in India, which includes salaries, dividend incomes, and rentals. An NRI can deposit money in foreign as well as Indian currency and make withdrawals in Indian currency from this account. Surplus funds in the NRO savings account should be invested in NRO fixed deposits.