Banks usually offer short-term FDs only to Indian residents. Some banks, however, do provide short term FDs to NRIs. The currency of deposit, taxation and whether it is repatriable, however, differ based on the type of account - NRE or NRO.  NRIs having a foreign income and looking to invest in FDs in India can invest through an NRE fixed deposit. NRIs earnings in India can be invested in FDs through an NRO account. These earnings can include rent, pension, etc.