Fixed deposit

NRE is tax-free. In one country.

Your bank is right that NRE interest is exempt under §10(4)(ii) — and that exemption is Indian. A US person is taxed on worldwide income, so the same interest is ordinary income on a 1040 whatever India does with it. Here are all three accounts after both.

Deposit amount₹Interest rate% p.a.TermyearsIndian FDs compound quarterly — that is what this uses.Your US taxable income$Before this gain — it decides which bracket applies.Filing status

Reading in

Your numbers

Fill these in and the estimate appears here.

Deposit amount
Interest rate
Term
Your US taxable income

Nothing is filled in for you. Anything left grey is an assumption the calculator will state rather than a figure you need to look up.

Run this against what you actually hold

Connect or upload your Indian and US accounts and the same engine runs across every lot you own — with the real purchase dates and the real exchange rate on each of them.

Get started — free