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 ...

• 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. For example, interest rates when the FD was booked were 5% for 1 year FD and 3% for 6 months FD. If FD was booked for 1 year and withdrawn ...

• 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.

• Will I get an option to re-invest upon maturity?

  Yes, once your FD matures the money will be credited to your Belong wallet and you can reinvest it, if you so wish.

• How will I transfer money to book FD?

  You will have to make a SWIFT transfer to Belong if you want to invest. To know more about adding funds to your Belong wallet, please check the Belong wallet section.