IDFC NRI Fixed Deposit Rates 2023

 Indians living abroad can get higher Rupee returns on their NRI income through IDFC NRI Fixed Deposit. IDFC First Bank offers 3 types of NRI fixed deposit schemes for NRIs for their foreign earnings. IDFC Bank has some of the best NRI fixed deposit options to help NRIs earn higher returns on their funds. Based on their source of income, NRIs can invest money in an NRE or NRO fixed deposit. IDFC NRI fixed deposit rates 2021 are one of the best in the market.

SBNRI Team

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How to convert resident account to NRO account

 When an Indian citizen attains Non-Resident Indian or NRI status, he/she can’t hold the resident bank account for a long duration. It is mandatory by law to convert a resident account into an NRI bank account. If you continue to operate a resident account for a long time after a change in your resident status, you will be liable to pay a penalty for not converting to NRO account. You will need to complete some formalities and submit documents for converting a resident account into an NRI account. Here we will discuss, how to convert a resident account to NRO accounts.

Manoj Negi

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HDFC Bank FCNR Fixed Deposit Rates 2023

 Recently top Indian banks, including HDFC Bank, have increased FCNR rates after the Reserve Bank of India eliminated the ceiling on interest rates on incremental FCNR (B) and NRE deposits. NRIs can hold fixed deposits in any of the 6 foreign currencies - US Dollars, Euro, Pounds Sterling, Japanese Yen, Australian Dollars, and Canadian Dollars. For deposits made in USD, HDFC Bank FCNR fixed deposit rates range from 2.00% to 3.35% p.a.

Manoj Negi

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SBI FCNR Rates 2024: SBI NRI Fixed Deposits

 State Bank of India is the largest public sector bank in India. The bank offers a wide range of financial products and services to residents as well as NRI customers. Non-Resident Indians can open an FCNR account with the SBI to manage their foreign earnings in India. SBI Foreign Currency Non-Resident Bank (FCNR(B)) account can be maintained in any of 6 acceptable foreign currencies - USD, GBP, EURO, CAD, AUD, and JPY. Latest SBI FCNR rates for deposits made in US dollar range 3.00 to 3.50% p.a.

Manoj Negi

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