Latest NRE FD interest rates: SBI, HDFC Bank, ICICI Bank, PNB, Axis Bank The account can only be opened in the name of NRI individuals. NRE FD interest rates as on October 16, 2024; interest rates from bank websites
Non Resident External (NRE) fixed deposits are maintained in Indian rupee (INR). The account can only be opened in the name of NRI individuals. Note that NRE accounts can be opened only by the NRI himself and not through the holder of the power of attorney.#sr_widget.onDemand p, #stock_pro.onDemand p{font-size: 14px;line-height: 1.28;} .onDemand .live_stock{left:17px;padding:1px 3px 1px 5px;font-size:12px;font-weight:600;line-height:18px;top:9px} #sr_widget.onDemand .sr_desc{margin:0 auto 0;} #sr_widget.onDemand .sr_desc{color: #024d99;margin-top:10px;} #sr_widget.onDemand .crypto .live_stock .lb-icon{8px 6px 5px 3px !important} #sr_widget.crypto.onDemand a.text{border-bottom:1px solid #ccc;padding-bottom:5px;display:block;width:100%} #sr_widget.onDemand .sr_desc .text p, #stock_pro.onDemand .sr_desc .text p{font-size:12px;font-weight:400;}
What are the benefits of an NRE FD?
Interest earned on NRE FDs is tax-free in India, and the principal amount and interest are fully repatriable. NRE FDs also offer higher interest rates than a typical savings account.Here is a look at the latest NRE FD interest rate of big banks.
(NRE FD interest rates as on October 16, 2024; interest rates from bank websites.)
SBI NRE FD rates
SBI offers NRE FD rates between 6.80% to 7.25% for tenure ranging from 1 year to 10 years. NRE term deposit with effect from 15th July, 2024.
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TenureInterest Rate1 year to less than 2 years6.80%400 Days (AMRIT KALASH) 7.10%(valid till 30.09.2024 only)444 Days (AMRIT VRISHTI)7.252 years to less than 3 years7.00%3 years to less than 5 years6.75%5 years to 10 years6.50%
HDFC Bank NRE FD rates
The minimum tenor for NRE Deposit is 1 Year. The interest rate ranges from 6.60% to 7.40% for tenure from 1 year to 10 years. The rates are effective from July 24, 2024. (Senior Citizen Rates do not apply to NRIs | Minimum tenor for NRE Deposit is 1 Year.)Interest Rate (per annum)**Senior Citizen Rates (per annum)1 year to 6.60%7.10%15 months to 7.10%7.60%18 months to 7.25%7.75%21 months - 2 years7.00%7.50%2 Years 1 day to 7.00%7.50%2 Years 11 Months - 35 Months7.35%7.85%2 Years 11 Months 1 day 7.00%7.50%3 Years 1 day to 7.00%7.50%4 Year 7 Months - 55 months7.40%7.90%4 Year 7 Months 1 day 7.00%7.50%5 Years 1 day - 10 Years7.00%7.50%
Axis Bank NRE FD rates
The interest rate ranges from 6.70% to 7.25% for tenure from 1 year to 10 years. The rates are effective from October 9, 2024.PNB NRE FD rates
The interest rate ranges from 6.80% to 7.25% for tenure from 1 year to 10 years. The rates are effective from August 1, 2024.Sl. NoPeriodRevised (% p.a.) 01.08.202411 year6.82> 1 year to 399 days6.83400 days7.254401 days to 2 years6.85> 2 years to 3 years76> 3 year to 1203 days6.571204 days**6.481205 days to 5 years6.59> 5 years to 1894 days6.5101895 days**6.35111896 days to 10 years6.5
IDFC FIRST FD interest rates
The minimum tenure for NRE Deposits is 365 days in a non-leap year and 366 days in a leap year. IDFC FIRST Bank offers NRE FD rates between 6.50% to 7.25% for tenure ranging from 1 year to 10 years. The rates are effective from October 16, 2024.Who is an NRI?
An NRI is an Indian citizen who stays outside India: (a) for purposes of carrying out employment or any business or vocation; (b) under circumstances indicating an intention to stay outside India for an uncertain duration; (c) any Indian citizen deputed outside India for a temporary period in connection with employment.
Can I get loans against my NRE fixed deposits?
Yes, you can get up to 90% of your fixed deposit as loan.
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This story originally appeared on: India Times - Author:Faqs of Insurances
