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.