Non Resident External (NRE) Term Deposits
Stretch the value of your foreign currency savings. Convert them into local currency and you can earn attractive interest income by placing your money in Non Resident External(NRE) Term Deposits.
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Features
- Open a Non Resident External (NRE) Term Deposit with as little as Rs 1,000,000
- No interest is payable on deposits, if prematurely withdrawn in less than 12 months
- Minimum period is 1 year and maximum period is 7 years
- Interest income is not taxed in India
- Attractive interest rates
- Principal and interest amounts are both fully repatriable
To apply now:
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Interest Rates
Notes :
Above Rs. 3 Crore deposit rates are uploaded on the website daily. 1% premature withdrawal penalty as applicable for deposits of 1 year and above. No Interest is payable for deposits of less than 1 year.
The rates are subject to change without notice. Interest rate compounded quarterly.
Senior Citizen & Staff-Special rate not applicable.
To apply now :
Term Deposit Interest Rate - Less than 3 crore :