SynopsisNon-Resident Indians can park their Indian income in NRO fixed deposits. These deposits offer attractive interest rates, with some banks providing up to 6.75 percent. Banks like Bank of Baroda offer the highest rates on specific tenures. Investors should consider tax implications and Double Taxation Avoidance Agreements. Understanding these factors helps maximize returns on NRO fixed deposits.ET Online NRO FD interest rates up to 6.75%: Check bank list If you are a Non-Resident Indian (NRI) earning income in India such as rent from property, dividends or a pension, an Non-Resident Ordinary (NRO) fixed deposit (FD) can be a convenient way to park your funds while earning interest. Before investing in NRO FDs, it is important to understand both- interest rates offered by banks and tax implications. Interest earned on NRO FDs is taxable in India and is subject to Tax Deducted at Source (TDS). Here's a look at the latest NRO FD interest rates offered by leading banks such as State Bank of India (SBI), HDFC Bank, Punjab National Bank (PNB), ICICI Bank, Bank of Baroda and Axis Bank.Why NRIs should park funds in NRO FDThe Double Taxation Avoidance Agreement (DTAA) can reduce the TDS on interest earned from NRO deposits. To avail of DTAA benefits, you need to provide a self-declaration, PAN card, Form 10F, and a current year's tax residency certificate, which may help reduce the overall tax burden.SBI NRO FD ratesSBI NRO FD rates range from 3.05% to 6.45% on deposits below Rs 3 crore, depending on a tenure for general citizens. The PSU bank offers its highest FD interest rate of 6.45% on a tenure of 444 days.HDFC NRO FD ratesHDFC NRO FD rates range from 2.75% to 6.50% p.a. for deposits under Rs 3 crore, depending on the tenure. The highest FD interest rate of 6.50% is offered on a tenure of 3 years 1 day to less than 4 years 7 months.PNB NRO FD ratesPunjab National Bank (PNB) NRO FD rates range from 3% to 6.60% p.a. for deposits under Rs 3 crore. The bank offers its highest NRO FD interest rate of 6.60% on a tenure of 444 days.ICICI Bank NRO FD ratesICICI Bank NRO FD rates range from 2.75% to 6.50% p.a. for deposits under Rs 3 crore. The highest FD interest rate of 6.50% is offered by the bank on tenures of 3 years 1 day to 10 years.Bank of Baroda NRO FD ratesBank of Baroda NRO FD interest rates range from 3.50% to 6.75% p.a. for deposits under Rs 3 crore, depending on the tenure. BoB offers its highest FD interest rate of 6.75% on a tenure of 555 days.Axis Bank NRO FD ratesAxis Bank NRO FD rates range from 3% to 6.50% p.a. for deposits under Rs 3 crore, depending on the tenure. The highest FD interest rate of 6.50% is offered on tenures of 18 months to 10 years.NRO FD interest rates 2026 BankHighest NRO FD Interest Rate (p.a.)TenureBank of Baroda6.75%555 daysPunjab National Bank (PNB)6.60%444 daysHDFC Bank6.50%3 years 1 day to less than 4 years 7 monthsICICI Bank6.50%3 years 1 day to 10 yearsAxis Bank6.50%18 months to 10 yearsState Bank of India (SBI)6.45%444 days (Join our ETWealth WhatsApp channel for all the latest updates)...more