NRE Deposits

Interest Rates

Rates of Interest on NRE deposits w.e.f. 07.07.2018

NRE Deposit

Time Bucket Revised rate
(w.e.f. 07.07.2018)
1 year to less than 2 years  7.00%
2 years to less than 3 years  7.00%
3 years and above 7.00%

The revised rates will be applicable for fresh deposits and renewals only

Penal Interest on pre closure of deposits

  • Up to Rs.1 crore of Deposit – Penalty of 1% from applicable ROI
  • Above Rs.1 crore of deposit – Pre closure Penalty norms applicable

Interest will be calculated at the rate applicable for the period the deposit has actually remained with the bank. The rates are subject to change without notice.