Rate lookup by country
Fixed Deposit Interest TDS
Your bank deducts 30% TDS on NRO fixed deposit interest under Section 195, while NRE and FCNR interest is exempt. Residents pay 10%. DTAA Article 11 caps the NRI rate by country: **Mauritius 7.5%** (lowest), most Gulf and Continental Europe 10%, UAE 12.5%, US / UK / Singapore / Canada / Australia / Denmark 15%. **Bahrain and Nigeria have no comprehensive DTAA** (only TIEAs): 30% applies in full, with no recovery via treaty. On a ₹50 lakh FD at 7% (₹3.5 lakh annual interest), the saving ranges from zero (Bahrain, Nigeria) to ₹78,750 (Mauritius), with most NRIs in the ₹52,500, ₹70,000 band depending on country.
This page gives you the rate. Work out the TDS on your FD interest, or read FCNR vs NRE vs NRO: which account gets taxed.
For UAE NRI on NRO FD interest
Default at-source TDS in India: 30%. Treaty rate (after Form 10F / Form 41 + TRC): 12.5%. Saving = 17.5 percentage points.
Article 11
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How it works
What happens to your NRO FD interest as an NRI
Section 195 forces banks to deduct 30% TDS at source on the FD interest that is taxable, which means NRO deposits. NRE interest (Section 10(4)(ii)) and FCNR interest (Section 10(15)(iv)(fa)) carry no TDS at all. Resident Indians only face 10% under Section 194A. DTAA Article 11 caps the NRI rate by treaty: **7.5%** for Mauritius (lowest in any India treaty); **10%** for Oman, Saudi, Qatar, Kuwait, France, Germany, Netherlands, Switzerland, Ireland, Japan, Korea, Hong Kong, NZ, Malaysia, Thailand, Indonesia, Philippines, Sweden, Norway, S. Africa, Kenya; **12.5%** for UAE; **15%** for US, UK, Singapore, Canada, Australia, Denmark; **30%** (no DTAA) for Bahrain and Nigeria. You claim the cap by filing Form 10F (or Form 41 from FY 2026-27) plus your TRC with the bank, or recover the excess in your ITR.
30%
Default TDS rate
Varies
DTAA rate by country
UAE NRI, what changes for you
Country-specific overlay on NRO FD interest
Indian tax IS your only tax
UAE has no personal income tax on individual savings interest, dividends, or capital gains. So the India-side rate (after DTAA reduction) is the FULL tax bite, no further drag in your country. NRE / FCNR exempt-in-India income flows through tax-free both sides. NRO / dividend income gets reduced via DTAA where treaty caps apply (UAE 12.5% on interest; Saudi 5% on dividends; etc.), and that reduced rate is your only cost.
NRO FD Interest rates by country
What each country's treaty says
Sorted by savings potential. 50 countries with a DTAA benefit, 2 with the same rate.
Mauritius
Article 11: 7.5% with TRC + Form 10F. The lowest GENERAL interest cap in any India DTAA. (UAE has a 5% sub-rate for interest paid on a loan granted by a bank/financial institution under Article 11(3); Mauritius's 7.5% applies universally on post-31-March-2017 debt-claims.)
Default → DTAA
30%→7.5%
Oman
Article 11: 10% cap, unchanged by the 2025 protocol. Better than UAE's 12.5%.
Default → DTAA
30%→10%
Saudi Arabia
Article 11
Default → DTAA
30%→10%
Qatar
Article 11: 10% cap retained in the 2025 revised treaty
Default → DTAA
30%→10%
Germany
Article 11: 10% treaty cap on Indian-source interest
Default → DTAA
30%→10%
Netherlands
Article 11: 10% treaty cap on Indian-source interest
Default → DTAA
30%→10%
Kuwait
Article 11
Default → DTAA
30%→10%
France
Article 12: 10% treaty cap on Indian-source interest
Default → DTAA
30%→10%
Ireland
Article 11: 10% treaty cap on Indian-source interest
Default → DTAA
30%→10%
Switzerland
Article 11: 10% treaty cap on Indian-source interest
Default → DTAA
30%→10%
Malaysia
Article 11: 10% with TRC + Form 10F
Default → DTAA
30%→10%
Japan
Article 11: 10% with TRC + Form 10F
Default → DTAA
30%→10%
South Korea
Article 11 of the 2015 revised treaty, 10% with TRC + Form 10F
Default → DTAA
30%→10%
Hong Kong
Article 11 of the 2018 India-HK CDTA, 10% with TRC + Form 10F
Default → DTAA
30%→10%
New Zealand
Article 11: 10% with TRC + Form 10F
Default → DTAA
30%→10%
South Africa
Article 11
Default → DTAA
30%→10%
Kenya
Article 11
Default → DTAA
30%→10%
Sweden
Article 11: 10% treaty cap on Indian-source interest
Default → DTAA
30%→10%
Norway
Article 11: 10% treaty cap on Indian-source interest
Default → DTAA
30%→10%
Thailand
Article 11: 10% with TRC + Form 10F
Default → DTAA
30%→10%
Indonesia
Article 11: 10% with TRC + Form 10F
Default → DTAA
30%→10%
Portugal
Article 11: 10% treaty cap on Indian-source interest
Default → DTAA
30%→10%
Luxembourg
Article 11: 10% treaty cap on Indian-source interest
Default → DTAA
30%→10%
Austria
Article 11: 10% treaty cap on Indian-source interest
Default → DTAA
30%→10%
Poland
Article 12: 10% treaty cap after the 2013 protocol (was 15%)
Default → DTAA
30%→10%
Finland
Article 11: 10% treaty cap on Indian-source interest
Default → DTAA
30%→10%
China
Article 11: 10% treaty cap on Indian-source interest
Default → DTAA
30%→10%
Vietnam
Article 11: 10% treaty cap on Indian-source interest
Default → DTAA
30%→10%
Israel
Article 11: 10% treaty cap on Indian-source interest
Default → DTAA
30%→10%
Sri Lanka
Article 11: 10% treaty cap on Indian-source interest
Default → DTAA
30%→10%
Tanzania
Article 11: 10% treaty cap on Indian-source interest
Default → DTAA
30%→10%
Uganda
Article 11: 10% treaty cap on Indian-source interest
Default → DTAA
30%→10%
Nepal
Article 11: 10% treaty cap on Indian-source interest, confirmed on the Income Tax Department's own withholding-rate table
Default → DTAA
30%→10%
Cyprus
Article 11: 10% treaty cap on Indian-source interest to a Cyprus-resident beneficial owner
Default → DTAA
30%→10%
Malta
Article 11: 10% treaty cap on Indian-source interest to a Malta-resident beneficial owner, confirmed against the CBDT's MLI-synthesised treaty text
Default → DTAA
30%→10%
Bangladesh
A flat 10% cap on Indian-source interest paid to a Bangladesh-resident beneficial owner, confirmed against the treaty's own notified text (GSR 758(E)); interest paid to the Government of Bangladesh or Bangladesh Bank is separately exempt outright
Default → DTAA
30%→10%
Russia
Article 11: flat 10% treaty cap on Indian-source interest to a Russia-resident beneficial owner, confirmed against PwC's own treaty-rate table; interest paid to the Reserve Bank of India or the Russian government is separately exempt outright
Default → DTAA
30%→10%
Mexico
Article 11: flat 10% treaty cap on Indian-source interest to a Mexico-resident beneficial owner, confirmed directly from the notified treaty text (Notification 86/2010); interest paid to specified government/development-bank entities on either side is separately exempt outright under Article 11(3)
Default → DTAA
30%→10%
UAE
Article 11
Default → DTAA
30%→12.5%
US
Article 11, caps Indian interest withholding at 15% for US-resident beneficial owners. Applies to NRO FDs, NRO savings, Indian bonds. NRE FD interest is exempt in India but still 100% taxable on your US 1040 as worldwide income, the treaty does not change that, and there is no FTC because India levied no tax.
Default → DTAA
30%→15%
UK
Interest article (post-2013 protocol numbering: Article 12; pre-protocol: Article 11), 15% general treaty cap; 10% sub-cap for interest paid to a bona fide bank; 0% (exempt) for interest paid to governments / RBI. India-UK is one of the few major Indian treaties where general interest is capped at 15%, not 10%.
Default → DTAA
30%→15%
Singapore
Article 11. DBS/UOB/Citi NRO interest TDS drops from 30% to 15% with TRC + Form 10F
Default → DTAA
30%→15%
Canada
Article 11, caps interest withholding at 15% for Canadian-resident beneficial owners.
Default → DTAA
30%→15%
Australia
Article 11, capped at 15% with TRC + Form 10F
Default → DTAA
30%→15%
Denmark
Article 12(2), the 15% treaty cap on Indian-source interest for individuals. The 10% rate in Article 12(2)(a) applies only where a bank made the loan, so your NRO FD misses it: on that deposit the lender is you.
Default → DTAA
30%→15%
Philippines
Article 11: 15% for an individual NRI. The 10% sub-rate applies only where the interest is received by a financial institution or insurer, not to an individual's NRO interest.
Default → DTAA
30%→15%
Italy
Article 12: 15% treaty cap on Indian-source interest
Default → DTAA
30%→15%
Spain
Article 12: 15% treaty cap on Indian-source interest
Default → DTAA
30%→15%
Belgium
Article 11: 15% general treaty cap (10% on bank-loan and credit-sale interest)
Default → DTAA
30%→15%
Brazil
Article 11: 15% general treaty cap on Indian-source interest
Default → DTAA
30%→15%
Same rate under DTAA (2 countries)
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