You moved. Your money didn’t.
Visas, jobs, homes, phone plans, a new routine. They all made it onto the list when you left. The savings account you left behind in India probably didn’t.
- An old savings account
- An investment you haven’t checked in ages
- A fixed deposit, maturing quietly
- Paperwork you were definitely sorting last Sunday
Most people aren’t ignoring it. Life just got louder. And “I’ll sort it out later” has a way of becoming “I really should have done this earlier.”
Wait. Does this apply to me?
Three questions. You’ll know the answers without looking anything up.
You moved to the UK and you’ve stayed.
You still have a savings account in India, and it’s the same one you had before you left.
You’ve never redesignated it, and you’ve never mentioned the interest on a UK tax return.
What it quietly costs
Here is the part that surprises people. On a resident-designated savings account, your bank deducts nothing at all. The tax starts once you redesignate to NRO, which is the correct thing to do. And almost nobody claims the lower rate they’re entitled to.
| On NRO interest | Tax |
|---|---|
| Standard deduction at source | 31.2% |
| India–UK treaty rate, where it applies | 15% |
| Fixed deposit of ₹10,00,000 at 7% | ₹21,840 a year |
| Fixed deposit of ₹50,00,000 at 7% | ₹1,09,200 a year |
Figures are illustrative only. Interest rates and tax treatment may change and depend on your individual circumstances. The treaty rate applies where conditions are met and must be claimed. This is a marketing communication, not tax advice.
YOUR VOUCHER
worth £50
Offer runs 7–14 October 2026. Terms apply. See below.
How to claim your £50 gold
Three steps. The whole thing is done in the Aspora app.
- 1 Open your Aspora NRI Savings Account
Zero balance, 100% digital, roughly 10 minutes. No branch visit and no trip to India. Must be opened through the Aspora app between 7 and 14 October 2026.
- 2 Make your first remittance to your Aspora NRI bank account
A minimum of £10, sent through Aspora, by 14 October 2026.
- 3 £50 of gold lands in your wallet
Credited straight to your Aspora gold wallet within 7 days of qualifying. Sell it the same day if you want to, or leave it there and buy a little more, which is the more sensible thing to do with gold. One voucher per eligible customer.
Open an NRI account with Aspora in 10 minutes
Entirely digital. No branch visit, no courier, no trip to India.
Among the better rates going on an NRI account.
On the money you keep in savings.
There is no minimum to keep it open.
Send money into your new account at no cost.
Everything happens in the app.
BANKING WITH SOMEONE ELSE?
Already have an NRE or NRO account at another bank
You still qualify. This would be your first account with Aspora, so the £50 gold applies in full.
An account you hold somewhere else makes no difference to eligibility. Open with Aspora between 7 and 14 October, send at least £10 into it, and the voucher is yours.
Worth holding up against whatever your current bank is paying you.
The India–UK treaty caps tax on interest at 15 per cent where the conditions are met, and the lower rate can be applied at source against a UK Tax Residency Certificate. Almost nobody claims it. It roughly halves the tax.
No fee on anything you send into the new account through Aspora.
Know someone who moved and never looked back?
You can move countries. Not everything you leave behind stays behind. If this made you check, it’ll probably make them check too.
Offer terms. Available to UK-resident customers aged 18 or over opening their first Aspora Zero Balance NRI Savings Account with Shivalik Small Finance Bank through the Aspora app between 7 and 14 October 2026. To qualify you must make a first remittance to your Aspora NRI bank account of at least £10 by 14 October 2026. An NRE or NRO account held at another bank does not affect eligibility. Customers who have previously held an Aspora NRE or NRO account are not eligible. One voucher per eligible customer. Account opening is subject to Shivalik Small Finance Bank’s eligibility and KYC requirements and remains at the bank’s discretion; participation does not guarantee an account will be opened.
The £50 digital gold voucher is provided by Goldwise UK, which is solely responsible for the voucher and the underlying digital gold. Issued within 7 days of qualifying and redeemable until 31 October 2026. Voucher eligibility and KYC remain at Goldwise UK’s discretion. The voucher is personal, non-transferable and has no cash alternative; if not redeemed by the deadline it lapses without value.
Important. Digital gold is not regulated by the Financial Conduct Authority and is not protected by the Financial Services Compensation Scheme. Its value can go down as well as up. The NRI Savings Account is provided by Shivalik Small Finance Bank, India, regulated by the Reserve Bank of India; it is not FSCS-protected. Deposits are insured by DICGC (India) up to ₹5,00,000 per depositor per bank, including interest. The account is denominated in Indian rupees and its sterling value will vary with the exchange rate. Any reward may be subject to tax depending on your circumstances. Aspora is not a bank. This is a marketing communication and not tax advice.