NRE Deposits

NRE Deposits can be maintained for a minimum period of 1 year and a maximum period of 10 years. You can withdraw your deposit any time; however, you will receive no interest if your deposit is withdrawn before the minimum stipulated period of 1 year.

Features and Benefits
  • The investment is fully repatriable.
  • The tenor ranges from 1 to 10 years.
  • The interest earned is non-taxable in India.
Terms and Conditions
  • Penal Interest on pre-closure of deposits.
    • Up to Rs. 2 Crores of deposit – Penalty of 1% from applicable ROI.
    • Above Rs. 2 Crores 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.
Interest Rate
Time Bucket Revised Rate (w.e.f. 01.07.2019)
1 Year to less than 2 Years 7.10%
2 Years to less than 3 Years 7.05%
3 Years and above 7%

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

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