opening saving account or fixed deposit in india

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cranky_jutt

Registered Users (C)
I heard about really good interest rates in india. How can i as US citizen who was indian citizen before open saving account or Fixed deposit account in india and take advantage of good interest rate?
I should be able to bring my money back to states without any issues after my investment matures.
 
Interest rates in India for Rupee accounts are high because Rupee inflation rates are high. Interest rates offered barely keep up with inflation. I hope you understand this clearly.

You are considered an NRI for investment and banking purposes and can open only NRI accounts of any kind. Interest earned on most NRI accounts are taxable at source in India and also need to be reported on US tax returns. You will get credit for tax payments in India.
 
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