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image Interest Rates for NRIs


The revised rates for different maturities for NRE Rupee Term Deposits, which will be effective from 19.01.2024 are as given below:-

Period

Interest Rate (Rates in % per annum)

<Rs. 2 Cr

1 Year

6.75

>1 Year to 398 days

6.75

399 days

7.25

400 Days to 2 years

6.50

>2 year to less than 3 Years

6.50

3 Years

6.50

> 3 Year to 5 years

6.50

>5 Years to 10 Years

6.50

  • Interest rates are subject to change. Hence depositor should ascertain the rates as on the date of placement from the website.
  • Aggregate value of deposits placed by a depositor on the day irrespective of the tenor of deposit will be taken for deciding applicable interest.
  • In case of premature closure/withdrawal of NRE term deposits which have run for a period of 1 year and above, interest will be paid at the rate applicable for the run period with a penalty of 1%.
  • No interest will be paid if the deposit is closed/withdrawn before completion of 1 year from deposit effective date.
  • Please visit “Interest Rates – Deposits” section for rates on deposits of Rs. 2 crore and above.