NRO Deposits

NRO Deposits is a fixed deposit scheme designed for non-residents to earn the same as a resident. This also gives an option to avail the loan against the deposit of up to 90% of the deposit amount.

Features and Benefits
  • Max tenor of up to 10 Years.
  • Repatriable up to 1 million USD.
  • Indian resident can be added as a joint holder.
  • The investment and the rate is in Indian rupee.
Terms and Conditions
  • Rates are subject to change, without prior notice.
  • No interest is payable if the deposit is withdrawn before one year.
  • Any pre-closure after completion of one year will be applicable to pre-closure penalty norms.
Interest Rate
Time Bucket Revised interest (Less than Rs. 2 Crores) (w.e.f. 01.07.2019)
7 Days to 14 Days 5%
15 Days to 30 Days 5%
31 Days to 45 Days 5.50%
46 Days to 90 Days 6%
91 Days to 180 Days 6.75%
181 Days to 270 Days 6.60%
271 Days to less than 1 Year 6.60%
1 Year to less than 2 Years 7.10%
2 Years to less than 3 Years 7.05%
3 Years and above 7%
KVB - Tax Shield 7%

Flexi Term Deposits

Time Bucket Revised Rate (w.e.f. 01.07.2019)
300 Days 6.50%
Kindly contact the nearest branch for deposits above Rs. 2 Crores.
Senior Citizen rates are not applicable to NRI.

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.

To check Interest rate: Click here

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