India is the world’s #1 remittance destination — $137 billion flowing in annually. Yet most banks, NBFCs, and fintechs capture zero of the NRI deposit market because the infrastructure to access it costs crores and years to build. Bharatomni changes that with a single API integration.
India is the world’s largest remittance destination. $168 billion sits in NRI accounts — growing every year. FCNR(B) inflows hit $7.1 billion in FY25. NRE balances just crossed $100 billion. The tailwinds are structural and relentless.
And yet, India’s 1,500+ smaller financial institutions — SFBs, NBFCs, co-operatives, regional fintechs — cannot access a single rupee of it.
Participating requires in-house SWIFT connectivity, dedicated NOSTRO accounts, FEMA compliance teams, and IFSCA regulatory approval. Infrastructure that costs crores to build and years to license — and most institutions never make it through.
Without a digital presence across NRI corridors, institutions remain completely invisible to 35 million Indians abroad.
RBI, FEMA, and IFSCA each have distinct and complex requirements. Almost no SFB or NBFC has the in-house expertise.
SWIFT connectivity, NOSTRO accounts, dedicated forex desks — building from scratch is not viable for most institutions.
No onboarding, no digital journey, no NRI-specific compliance — the result is zero addressable market for the world’s fastest-growing diaspora.
Bharatomni is a white-label, API-first infrastructure layer. We handle regulatory partnerships, SWIFT rails, KYC, forex, compliance, and analytics. You keep your brand, your customer relationship, and your revenue. Go live in weeks.
One RESTful integration unlocks FCNR(B), IFSC FDs, and domestic deposit products — with webhooks, mobile SDKs, and pre-built UI components. From contract to live in weeks.
Automated KYC and AML via CKYC and DigiLocker. Fully paperless. RBI and IFSCA compliant from day one, with complete audit trails.
SWIFT, NOSTRO, and GIFT PSP for FCNR inflows. UPI, IMPS, RTGS, and NEFT for domestic FD funding. Instant reconciliation on both legs.
Partnered bank infrastructure handles all forex compliance and multi-currency management end to end — no complex regulatory permissions required on your side.
Aggregates and normalises rates across tenures and currencies for intelligent product matching and tenure recommendations.
Access to FCNR and GIFT City IFSC FD products from Scheduled Commercial Banks — distributed under your own brand, with your own economics.
India has four government-recognised fixed deposit products built exclusively for NRIs — each with compelling returns, tax advantages, and full repatriation rights. Your customers want them. Bharatomni gives you the infrastructure to offer them — under your brand, in weeks. Here’s exactly what’s available and why NRIs choose each one.
NRE (Non-Resident External) FDs allow NRIs to park their foreign earnings in India in INR. Both principal and interest are fully repatriable. Interest is completely exempt from Indian income tax — making this the go-to product for NRIs who want high INR returns without any tax friction.
Rates indicative. Subject to change. Source: Bank websites, H1 2025.
NRO (Non-Resident Ordinary) FDs are used to invest Indian-source income — rent from property, dividends, pension, or any income earned in India. Denominated in INR. Interest is taxable at 30% TDS, but repatriation of up to USD 1 million per financial year is permitted with appropriate documentation.
Rates indicative. Subject to change. Source: Bank websites, H1 2025.
FCNR(B) (Foreign Currency Non-Resident Bank) deposits are the only NRI fixed deposit held entirely in foreign currency — USD, GBP, EUR, AUD, CAD, or JPY. No INR conversion means zero exchange rate risk. Interest and principal are fully tax-free in India and fully repatriable. The ideal product for NRIs who want India’s superior rates without rupee exposure.
Rates vary by bank. Based on RBI guidelines and SOFR-linked benchmarks. H1 2025.
GIFT City IFSC FDs are term deposits issued by IBU (IFSC Banking Unit) branches of Scheduled Commercial Banks operating within India’s International Financial Services Centre in Gandhinagar. Regulated by IFSCA rather than RBI. USD-denominated. A distinct legal and regulatory product from FCNR(B), suited to NRIs who want an IFSC-domiciled instrument.
Source: SBI GIFT City IBU rate sheet, 09.03.2026. Rates vary by bank.
| Product | Currency | Tax in India | Repatriation | Forex Risk | Best For |
|---|---|---|---|---|---|
| NRE FD | INR | Tax-free | Full | INR/FX risk | High INR returns, India-return planning |
| NRO FD | INR | 30% TDS | Up to $1M/yr | INR/FX risk | Indian-source income (rent, dividends) |
| FCNR(B) | USD/GBP/EUR/AUD/CAD/JPY | Tax-free | Full | None | Foreign currency savings, zero FX risk |
| GIFT City IFSC FD | USD | Tax-free | Full | None | IFSC-domiciled, institutional preference |
Every financial institution with a customer base that includes NRIs or their families deserves access to this market. Bharatomni makes that possible.
Expand your liability base without building complex forex infrastructure in-house. Serve the NRI families in your community who already trust your brand.
Your NRI users already send money home via your platform. Close the loop — let them invest it too. Earn distribution revenue on every deposit booked.
Use Bharatomni as your distribution multiplier — expanding NRI deposit mobilisation at scale without building proprietary distribution from scratch.
* All figures sourced from RBI, World Bank, IBEF, and UN DESA.
We are not a tech team that stumbled into banking. We are banking, compliance, and product professionals who understand the regulations, the relationships, and the technical depth this market demands.
$168 billion in NRI deposits. 70–90% renewal rates. 35 million diaspora members who want better than a 1% savings rate. The question is not whether this market grows — it’s whether your institution is in it.
Tell us about your institution and we’ll respond within one business day.