Nre Fixed Deposit Rates
NRE Savings Account is an account which is opened by an NRI (Non Resident Indian) to park his/her overseas earnings remitted to India converted to Indian Rupees. This account is maintained in rupee. It offers the entire standard banking facilities such as issuance of cheque book/ debit card, nomination facility and other remittance facilities. The account holder will receive interest on the money deposited under this account which differs from bank to bank.
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NRE Savings Interest Rates by Banks (as on 06 Mar 2021)
| Bank Name | Min Interest Rates (p.a.) | Min Limit | Max Interest Rates (p.a.) | Max Limit | Calculate |
|---|---|---|---|---|---|
| Allahabad Bank | 4% | Less than Rs 40 Lakhs | 4% | Rs 40 Lakhs & above | |
| Andhra Bank | 4% | Upto Rs 50 Lakhs | 4% | Above Rs 50 Lakhs | |
| Axis Bank | 4% | Below Rs 50 Lakhs | 4% | Rs 50 Lakhs & above | |
| Bandhan Bank Limited | 4% | Below Rs 1 Lakh | 6% | Rs 1 Lakh & above | |
| Bank Of Baroda | 4% | Upto Rs 50 Lakhs | 4% | Above Rs 50 Lakhs | |
| Bank Of India | 4% | Upto Rs 50 Lakhs | 4% | Above Rs 50 Lakhs | |
| Bank Of Maharashtra | 4% | Upto Rs 25 Lakhs | 4% | Above Rs 25 Lakhs | |
| Canara Bank | 4% | Upto Rs 50 Lakhs | 4% | Above Rs 50 Lakhs | |
| Catholic Syrian Bank Limited | 4% | Upto Rs 1 Lakh | 4% | Above Rs 1 Lakh to Rs 50 Lakhs | |
| Central Bank Of India | 4% | Upto Rs 50 Lakhs | 4% | Above Rs 50 Lakhs | |
| City Union Bank Limited | 4% | Upto Rs 1 Lakh | 4% | Above Rs 1 Lakh | |
| Corporation Bank | 4% | Below Rs 50 Lakhs | 4% | Rs 50 Lakhs & above | |
| Dcb Bank Limited | 4% | Below Rs 1 Crore | 6% | Above Rs 1 Crore to Rs 5 Crores | |
| Dena Bank | 4% | Upto Rs 25 Lakhs | 4% | Above Rs 25 Lakhs | |
| Dhanalakshmi Bank | 4% | Upto Rs 50 Lakhs | 4% | More Than Rs 50 Lakhs | |
| Federal Bank | 4% | Below Rs 50 Lakhs | 4% | Rs 50 Lakhs & above upto Rs 10 Crores | |
| Hdfc Bank | 4% | Below Rs 50 Lakhs | 4% | Rs 50 Lakhs & above but below Rs 500 Crores | |
| Icici Bank Limited | 4% | Below Rs 50 Lakhs | 4% | Rs 50 Lakhs & above | |
| Idbi Bank | 4% | Upto Rs 25 Lakhs | 4% | Above Rs 25 Lakhs | |
| Indian Bank | 4% | Upto Rs 50 Lakhs | 4% | Above Rs 50 Lakhs | |
| Indian Overseas Bank | 4% | Upto Rs 25 Lakhs | 4% | Above Rs 25 Lakhs | |
| Indusind Bank | 4% | Upto Rs 10 Lakhs | 5% | Above Rs 10 Lakhs to Rs 1 Crore | |
| Jammu And Kashmir Bank Limited | 4% | For Any Amount | 4% | Above Rs 10 Lakhs | |
| Karnataka Bank Limited | 3% | Upto Rs 1 Lakh | 4% | Above Rs 1 Lakh to Rs 50 Lakhs | |
| Karur Vysya Bank | 4% | Upto Rs 1 Lakh | 4% | Above Rs 1 Lakh | |
| Kotak Mahindra Bank Limited | 5% | Upto Rs 1 Lakh | 6% | Above Rs 1 Lakh to Rs 1 Crore | |
| Laxmi Vilas Bank | 4% | Upto Rs 1 Lakh | 5% | Above Rs 1 Lakh to Rs 5 Lakhs | |
| Oriental Bank Of Commerce | 4% | Upto Rs 25 Lakhs | 4% | Above Rs 25 Lakhs | |
| Punjab And Sind Bank | 4% | Upto Rs 20 Lakhs | 4% | Above Rs 20 Lakhs | |
| Punjab National Bank | 4% | Upto Rs 25 Lakhs | 4% | Above Rs 25 Lakhs | |
| Rbl Bank Limited | 6% | Upto Rs 1 Lakh | 6% | Above Rs 1 Lakh to Rs 10 Lakhs | |
| South Indian Bank | 4% | Upto Rs 1 Lakh | 4% | Above Rs 1 Lakh to below Rs 5 Crore | |
| State Bank Of Bikaner And Jaipur | 4% | Upto Rs 1 Crore | 4% | Above Rs 1 Crore | |
| State Bank Of Hyderabad | 4% | Upto Rs 1 Crore | 4% | Above Rs 1 Crore | |
| State Bank Of India | 4% | Upto Rs 1 Crore | 4% | Above Rs 1 Crore | |
| State Bank Of Mysore | 4% | Upto Rs 1 Crore | 4% | Above Rs 1 Crore | |
| State Bank Of Patiala | 4% | Upto Rs 1 Crore | 4% | Above Rs 1 Crore | |
| State Bank Of Travancore | 4% | Upto Rs 1 Crore | 4% | Above Rs 1 Crore | |
| Syndicate Bank | 4% | Upto Rs 25 Lakhs | 4% | Above Rs 25 Lakhs | |
| Tamilnad Mercantile Bank Limited | 4% | Upto Rs 1 Lakh | 4% | Above Rs 1 Lakh | |
| Uco Bank | 4% | Upto Rs 50 Lakhs | 4% | Over Rs 50 Lakhs | |
| Union Bank Of India | 4% | Upto Rs 25 Lakhs | 4% | Above Rs 25 Lakhs | |
| United Bank Of India | 4% | Upto Rs 50 Lakhs | 4% | More Than Rs 50 Lakhs | |
| Vijaya Bank | 4% | Below Rs 50 Lakhs | 4% | Rs 50 Lakhs & above | |
| Yes Bank | 5% | Below Rs 1 Lakh | 6% | Rs 1 Lakh to Rs 1 Crore |
Domestic /NRO/ NRE Fixed Deposit Rates (all in%) w.e.f. December 30th, 2020. Tenure 2 crore to less than 5 crores (Domestic /NRO/NRE deposits). The interest earned on NRE deposit is totally exempt from Indian Income Tax - No TDS. The principal and interest are freely repatriable. The revised deposit rates on NRE deposits will apply only to fresh deposits accepted and matured deposits renewed on or after. The above rates are highly competitive.
Key features and Benefits of Non Resident External (NRE) Savings Account
- Maintained in rupee.
- Both the principal as well as the interest can be repatriated.
- Interest is payable usually on a half yearly basis.
- Offers easy liquidity.
- Offers remittance facility.
- Get the cheque book facility.
- Provision for nomination. Nominee can be Resident or Non-resident or PIO(person of Indian Origin)
- Local Rupee Cheques (drawn in India) cannot be deposited in this account.
- Cash in rupees cannot be deposited in this account.
- Money in this account can be transferred from any non-resident (External) Rupee Savings and Fixed / Term Deposit account or Foreign Currency Deposit (FCNR) account.
- No income tax liability.
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- Term Deposits
Sbi Nre Fixed Deposit Rates
Whether you are saving for the short term or the long term, you can earn higher rates of interest with Term Deposits from Citibank. With options to earn simple or compounding interest and multiple tenures to choose from, Term Deposits are a great way to save for your future needs.
Check RatesApply Now
| Why Citi? | Non-Resident External Deposit (NRE) | Non-Resident Ordinary Deposit (NRO) | Foreign Currency Non-Resident (FCNR) |
|---|---|---|---|
Check RatesOpen NRE Deposit | Check RatesOpen NRO Deposit | Check RatesOpen FCNR Deposit | |
| Funds Transfer |
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| Interest Option | Option to choose between Simple Interest and compound interest. Simple interest is accrued monthly and paid quarterly to Rupee Checking Account. Compound Interest is accrued every 90 days and paid at maturity. Calculated on daily balances and paid quarterly | Option to choose between Simple Interest and compound interest. Simple interest is accrued monthly and paid quarterly to Rupee Checking Account. Compound Interest is accrued every 90 days and paid at maturity. Calculated on daily balances and paid quarterly | Interest is compounded every 180 days and paid upon maturity |
| Automatic Rollover | Automatic Roll over option available for convenience | Automatic Roll over option available for convenience | Automatic Roll over option available for convenience |
| Tenure | Minimum 365 days (1 year) Maximum 1825 days (5 years) | Minimum 7 days Maximum 1825 days (5 years) | Minimum 365 days (1 year) Maximum 1825 days (5 years) |
| Minimum Deposit Amount | INR 80,000 | INR 80,000 | USD 2000 or equivalent |
| Who can open an account | NRIs and PIOs | NRIs and PIOs | NRIs and PIOs |
| Who can be a joint holder | May be held jointly in the names of two or more NRIs/ PIOs or with a resident relative on 'former or survivor' basis as Power of Attorney holder. | May be held jointly in the names of two or more NRIs/ PIOs or with a resident relative on 'former or survivor' basis as Power of Attorney holder. | May be held jointly in the names of two or more NRIs/ PIOs or with a resident relative on 'former or survivor' basis as Power of Attorney holder. |
| Currency | Indian Rupees(INR) | Indian Rupees(INR) | US Dollar, British Pound, Euro, Japanese Yen, Australian Dollar, Canadian Dollar |
| Taxation |
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| Repatriation | Principal and interest are fully repatriable | RBI allows repatriation only for current income up to USD 1 (one) million per financial year (April-March), for any bonafide purpose after payment of applicable taxes. | Principal and interest are fully repatriable |
Please Note:
Nre Fixed Deposit Rates
- If you wish to open a new Citibank Term Deposit, you will also be required to open a Citibank NRI Savings Account. This is required to facilitate interest payout, mandate holders, and funding of the account.
- In case of pre-termination, the interest earned on a Term Deposit is calculated differently. Click here for an illustration
Disclaimers: Citibank India does not market any product or service to individuals resident in the European Union, European Economic Area, Switzerland, Guernsey, Jersey, Monaco, San Marino, Vatican, and The Isle of Man. This webpage is not, and should not be construed as, an offer, invitation or solicitation to buy or sell any of the products and services mentioned herein to individuals resident in the European Union, European Economic Area, Switzerland, Guernsey, Jersey, Monaco, San Marino, Vatican, and The Isle of Man.