What is the Belong USD FD?

What is the Belong USD FD?

The USD Fixed Deposit on Belong is a USD-denominated FD offered in partnership with RBL bank’s GIFT City unit.

The key highlights of this FD for NRIs are:

  • Higher interest rates: Indian banks typically provide higher interest rates than NRIs’ local banks.

  • Shorter tenures available: You can make FDs for tenures less than 1 year as well. 

  • No depreciation risk: Since the FD is denominated in USD, you are safe from the loss from INR depreciation.

  • No Indian bank account needed: FDs can be booked directly from your foreign bank account. 

  • Repatriability: Both principal and interest are fully repatriable without any paperwork or limits.

  • Tax free interest: The interest earned is tax-free in India and there is no TDS. 


To watch a quick video on how GIFT City FDs differ from FCNR deposits, click here.


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      The minimum amount required to open a USD FD with Belong is $1,000.

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