SB NRI NRI Fixed Deposits are the most sought after medium for NRI Investments in India. The NRI Fixed Deposits can be opted with the following 3 types of NRI Accounts:
Let’s understand these accounts in brief:
| Banks | NRE FD Interest Rates |
| Federal | Up to 5.85%* |
| SBI | Up to 5.40%* |
| Citibank | Up to 4.23%* |
| Bank of Baroda | Up to 5.40%* |
| Canara Bank | Up to 5.50%* |
| Indian Bank | Up to 5.40%* |
| ICICI | Up to 5.50%* |
| HDFC | Up to 6.25%* |
| Indian Overseas Bank | Up to 5.75%* |
| Punjab National Bank | Up to 5.50%* |
| IDBI Bank | Up to 5.80%* |
| Kotak | Up to 5.40%* |
| DCB | Up to 7.35%* |
| Axis Bank | Up to 5.80%* |
| DBS Bank | Up to 5.25%* |
| Union Bank of India | Up to 5.80%* |
| United Bank of India | Up to 6.50%* |
| YES Bank | Up to 7.25%* |
| SBM | Up to 7.50%* |
| IndusInd | Up to 7.81%* |
| RBL | Up to 7.50%* |
| IDFC | Up to 6.90%* |
| Central Bank of India | Up to 5.35%* |
| Deutsche Bank | Up to 7%* |
| Income Tax Slab | Tax Rate |
| Up to 2.5 Lakhs | Nil |
| 2.5 Lakhs to 5 Lakhs | 5% |
| 5 Lakhs to 7.5 Lakhs | 10% |
| 7.5 Lakhs to 10 Lakhs | 15% |
| 10 Lakhs to 12.5 Lakhs | 20% |
| 12.5 Lakhs to 15 Lakhs | 25% |
| 15 Lakhs and above | 30% |
After opening the NRI Bank Accounts, you can directly opt for a Fixed Deposit online using your mobile phones under the type of account chosen. It’s too easy and convenient. Still confused which FD to opt for? Let’s us stroll through a comparative analysis of these NRI FDs here:
| Factors to consider | Non Resident External (NRE) FD | Non Resident Ordinary (NRO) FD | Foreign Currency Non Resident (FCNR) Deposit | |
| Purpose | For income earned outside India | For income earned from India (pension, rent etc.) | Foreign Currency Investment in India | |
| Currency | INR | INR | USD, GBP, EUR, JPY, CAD, AUD, SGD, HKD and CHF | |
| Joint Account Holding | Only NRI | Both NRI and Residents | Only NRI | |
| Tenure of Deposits | 1 year to 10 years | 7 days to 10 years | 1 year to 5 years | |
| Interest | Up to 7.81%* | Up to 7.30%* | Up to 3%* | |
Repatriation (transfer of money from Indian bank account to foreign bank account) | Both Principal (money invested initially) and Interest completely repatriable | Up to a maximum of 1 million USD per financial year | Both Principal and Interest completely repatriable | |
| Tax Deductions | No tax | Tax on Interest earned (not on principal amount): 30% tax + surcharge + education cess will be deducted at the source of interest earned in India | No tax | |
ICICI Bank NRE FD Rates: ICICI Bank is one of the top banks in India that offers a host of financial services to its Indian as well as Non-Resident Indian (NRI) customers. NRI Fixed Deposits like Non-Resident External (NRE), Non-Resident Ordinary (NRO) and Resident Foreign Currency (RFC) deposits are some of the most popular investment options offered by the bank for NRI investors.
Canara Bank provides various investment products to its Non-Resident Indian (NRI) customers. These customers can invest in Canara Bank NRI FDs to grow their savings. NRIs can invest their foreign income in these schemes and earn good returns based on the current Canara Bank NRI FD rates. Let’s explore the Canara Bank NRI FD interest rates 2020-21 for short term as well as long term tenure.
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.
YES Bank is one of the largest private-sector banks in India with very lucrative NRI Fixed Deposit Schemes. The bank provides an array of opportunities such as NRE FD, NRO FD, FCNR Deposit and RFC Deposits. The interest rates for NRE FD go as high as 6.75%*. In this article, we will explore the YES Bank NRE FD Rates along with other NRI FD alternatives.
Fixed deposits are one of the most preferred investment options in India because of the nominal risk and guaranteed returns. Like resident Indians, Non-Resident Indians (NRIs) are also investing in NRI (NRE, NRO & FCNR) fixed deposits to save and manage their foreign income in India. NRE fixed deposits are similar to regular term deposits, opened using NRE accounts. All NRIs and PIOs can invest in NRE FDs in India. Indian banks and NBFCs (Non-Banking Financial Companies) offer attractive NRE Fixed Deposit rates, which are virtually tax-free.
Axis Bank is one of the largest and most trusted banks for NRI services in India. The bank provides various options under NRI Fixed Deposit. In this article we will browse through the various fixed deposit options available for an NRI along with checking out the latest Axis Bank NRE FD Rates (up to 5.50%*) and other NRI Fixed Deposit Interest Rates.
NRI Fixed Deposit options at SBI is one of the safest avenues for NRI Investment in India. Your residential status and financial requirements can be easily catered to within their multiple options of Fixed Deposits: NRE FD, NRO FD, FCNR Deposits and RFC Deposit. In this article, we will browse through the latest SBI NRI FD Rates along with other benefits of investing in NRI FD at SBI.
NRI Fixed Deposit options at HDFC Bank is one of the safest avenues for NRI Investment in India. Your residential status and financial requirements can be easily catered to within their multiple options of Fixed Deposits: NRE FD, NRO FD, FCNR Deposits and RFC Deposit. In this article, we will browse through the latest HDFC Bank NRE FD Rates along with other NRI FD Rates and other benefits of investing in NRI FD at HDFC Bank.
The time can’t be better. With the global market lodged by the hands of the outbreak of COVID-19, when everything is literally standing still, halted for the better. Why wait? Wondering whether It is the right time to book your NRE deposit in India? It’s the perfect time.
One of the most popular financial products that most banks provide to their clients is the fixed deposit or FD. Because it is safer than equity investments, it is a preferred type of investment. And before you invest any money, you already know the returns. If you want to minimize your risk, it is a secure investment. Additionally, it can assist you in achieving your long-term financial goals, such as retirement planning, home ownership, and paying for a child's education. This article is about the top reasons why FDs are a must in your portfolio.
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