GIFT City vs High Yield Savings Account Calculator
A side-by-side return calculator for US-based NRIs. Adjust your amount, time horizon, and banks — and see the real difference in seconds.
NRIs holding savings in USD have two compelling options: a GIFT City International Banking Unit (IBU) account with Indian banks, or a High-Yield Savings Account (HYSA) with US banks like Marcus or Ally. GIFT City accounts currently offer rates of up to 4.75% APY — and interest is completely tax-free in India, unlike NRO accounts. This calculator lets you compare real returns side by side across your choice of banks, investment amount, and time horizon.
The calculator helps you answer one thing straightforward → which option puts more dollars in your pocket over your chosen time period?
NRIs holding savings in USD have two compelling options: a GIFT City International Banking Unit (IBU) account with Indian banks, or a High-Yield Savings Account (HYSA) with US banks like Marcus or Ally. GIFT City accounts currently offer rates of up to 4.75% APY — and interest is completely tax-free in India, unlike NRO accounts. This calculator lets you compare real returns side by side across your choice of banks, investment amount, and time horizon.
The calculator helps you answer one thing straightforward → which option puts more dollars in your pocket over your chosen time period?
Calculate Your Returns
Choose Banks to Compare
Returns Comparison
(4.75% APY)
(3.65% APY)
Calculate Your Returns
Choose Banks to Compare
Returns Comparison
(4.75% APY)
(3.65% APY)
Calculate Your Returns
Choose Banks to Compare
Returns Comparison
(4.75% APY)
(3.65% APY)
What is a GIFT City savings account?
What is a GIFT City
savings account?
GIFT City (Gujarat International Finance Tec-City) is India's first International Financial Services Centre (IFSC). Banks with International Banking Units (IBUs) inside GIFT City operate under a special regulatory framework — letting them offer USD-denominated savings accounts to NRIs, without FX conversion and without Indian income tax on interest.
GIFT City (Gujarat International Finance Tec-City) is India's first International Financial Services Centre (IFSC). Banks with International Banking Units (IBUs) inside GIFT City operate under a special regulatory framework — letting them offer USD-denominated savings accounts to NRIs, without FX conversion and without Indian income tax on interest.
For US-based NRIs, this means your savings stay in US dollars, earn interest competitive with US banks, and are completely exempt from Indian income tax. There's no currency risk, no FX spread, and funds can be repatriated freely.
Current GIFT City savings rates range from 3.25% to 4.75% APY depending on the bank.
For US-based NRIs, this means your savings stay in US dollars, earn interest competitive with US banks, and are completely exempt from Indian income tax. There's no currency risk, no FX spread, and funds can be repatriated freely.
Current GIFT City savings rates range from 3.25% to 4.75% APY depending on the bank.
Are GIFT City Earnings Free of Tax
for US-based NRIs?
Are GIFT City Earnings Free of Tax
for US-based NRIs?
Yes and no. GIFT City interest is tax-free in India — but the IRS requires you to report worldwide income. Interest earned in a GIFT City account is taxable in the US as ordinary income, the same as HYSA interest. This calculator compares pre-tax returns; your actual after-tax outcome will depend on your US tax bracket.
Yes and no. GIFT City interest is tax-free in India — but the IRS requires you to report worldwide income. Interest earned in a GIFT City account is taxable in the US as ordinary income, the same as HYSA interest. This calculator compares pre-tax returns; your actual after-tax outcome will depend on your US tax bracket.
Why Choose GIFT City?
Why Choose GIFT City?
Discover the exclusive advantages that make GIFT City the premier financial
destination for global investors
Discover the exclusive advantages that make
GIFT City the premier financial destination
for global investors
Discover the exclusive advantages that make GIFT City the premier financial destination for global investors
Tax Free Interest
Tax Free Interest
Enjoy completely tax-free
returns on your savings in
India
Enjoy completely tax-free returns on your savings in India
IFSC Regulated
IFSC Regulated
Fully regulated by the
International Financial
Services Centre
Fully regulated by the International Financial Services Centre
Fund Repatriation
Fund Repatriation
Seamless transfer of funds back to your home country
Seamless transfer of funds back to your home country
USD Denominated
USD Denominated
Maintain your accounts in US Dollars for global
convenience
Maintain your accounts in US Dollars for global convenience
FAQs
FAQs
Is a GIFT City account safe? Is it regulated?
How is a GIFT City account different from an NRE account?
Is interest from a GIFT City account taxable in the US?
Can I open a GIFT City account from outside India?
How is a GIFT City account different from an NRO account?
Which GIFT City bank offers the best rate?
What happens to my GIFT City account if I return to India?
Are the rates in this calculator current?
Multi-Currency Accounts
Up to 4.7% interest on savings
No FX Conversion Costs
Open GIFT City Account Digitally
Multi-Currency Accounts
Up to 4.7% interest on savings
No FX Conversion Costs
Savings Account Rates - Sources
Savings Account Rates - Sources
US High Yield Savings
Last Updated: November 03, 2025 | Official Rates: All rates are as of November 03, 2025
Disclaimer: Interest rates are subject to change. Please verify current rates with respective banks before making
any investment decisions.
Last Updated: November 03, 2025
Official Rates: All rates are as of November 03, 2025
Disclaimer: Interest rates are subject to change. Please verify current rates with respective banks before making
any investment decisions.
Last Updated: November 03, 2025
Official Rates: All rates are as of November 03, 2025
Disclaimer: Interest rates are subject to change. Please verify current rates with respective banks before making any investment decisions.
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Rupeeflo platform is owned and operated by DMA Rupeeflo Technologies Private Limited, which facilitates digitised and seamless process for opening of DEMAT & Trading accounts with various SEBI registered stockbrokers in India. The ultimate approval and activation of DEMAT & Trading accounts, are at stockbroker’s sole discretion; and upon opening of account, your relationship is exclusively governed by the respective stockbroker’s terms and conditions. Globalnest Securities Private Limited, a subsidiary of DMA Rupeeflo Technologies Private Limited is a NSE registered Authorised Person (AP) - AP2516005033 of Zerodha Broking Limited, a SEBI registered Stockbroker.
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Demat. Digital notarization. Document courier. Money transfers. All done from the comfort of your couch.
For all NRI related news and updates.
Stay ahead with Rupeeflo
Subscribe To Our Newsletter
Rupeeflo platform is owned and operated by DMA Rupeeflo Technologies Private Limited, which facilitates digitised and seamless process for opening of DEMAT & Trading accounts with various SEBI registered stockbrokers in India. The ultimate approval and activation of DEMAT & Trading accounts, are at stockbroker’s sole discretion; and upon opening of account, your relationship is exclusively governed by the respective stockbroker’s terms and conditions. Globalnest Securities Private Limited, a subsidiary of DMA Rupeeflo Technologies Private Limited is a NSE registered Authorised Person (AP) - AP2516005033 of Zerodha Broking Limited, a SEBI registered Stockbroker.
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