NRE Deposits

Rates of Interest on NRE deposits (w.e.f. 07.01.2019) are listed below:

Time Bucket Revised Rate (w.e.f. 07.01.2019)
1 Year to less than 2 Years 7.25%
2 Years to less than 3 Years 7.25%
3 Years and above 7%

The revised rates will be applicable to 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 remained with the bank. The rates are subject to change without notice.

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