How will my gains on the booked FDs be taxed once I change to a resident Indian?

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• How is the interest income from GIFT City FDs taxed in India?

  Interest earned and principal on GIFT City FDs is fully tax-exempt in India for NRIs. Any tax liability will be as per your resident country only. You should check the tax laws in your resident country and any applicable Double Taxation Avoidance ...

• Is partial withdrawal allowed for my USD FDs booked on the app?

  No, you will not be able to withdraw partially. The particular FD will have to be withdrawn completely if you wish to withdraw.

• Are there any charges/fees on premature withdrawal of FDs?

  On premature withdrawal, interest will be paid out at applicable rate* minus 1% or zero whichever is higher. Any bonus payout from Belong will also not be applicable in case of premature withdrawals. For example, let's say at the time of booking the ...

• What documents will I need in order to book my FD on the Belong app?

  You do need separate documents for booking your USD FDs on the Belong app. Once your KYC is verified and Belong wallet is activated, you can just fund your wallet and book your FDs. For completing your KYC verification on the Belong app, you will ...

• Will Belong bonus show on the FD receipt?

  The bonus is given by Belong hence it will not be reflected in the FD receipt. Once the FD matures the interest offered by the bank and Belong's bonus will be credited back to the Belong wallet.