NRI Fixed Deposits
We have deposit facilities available to all Indians living overseas. These facilities come in the form of FCNR, NRO and NRE deposits. Our deposit facilities have been specifically designed to help you transact in the local currency of the country you are in and in Indian Rupees. You will also receive tax incentives.
An FCNR Deposit is one of the three types of deposit an NRI can maintain. Since FCNR deposits are maintained in foreign currencies, there is no loss owing to changes in exchange rates when you choose to terminate the deposit or when it matures.
NRE Deposits can be maintained for a minimum period of 1 year and a maximum
period of 10 years. You can withdraw your deposit at any time; however, you
will receive no interest if your deposit is withdrawn before the minimum
stipulated period of 1 year.