About Cosmo Max Yield NRO Deposit
The Cosmo Max Yield NRO Deposit is a Savings account for the NRIs who have accounts in Cosmos Bank here in India. By depositing your savings into this account, you can obtain financial gain by the rate of interest. The interest earned in this account is taxable, and the tax applicability is presently (TDS is by) 30.90%. However, if the customer is registered under DTAA, they can get the benefit of reduced taxation, which reduces the chargeable tax percentage to half or even less that the original charge. The reduced more for residents of some major countries, and thus, they can benefit more this scheme.