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 | |
United Bank of India NRI FD Rates: United Bank of India (UBI) provides multiple types of fixed deposit schemes to its NRI customers, such as NRE deposits, NRO deposits, FCNR (B) deposits, and RFC deposits. The deposit accounts allow Non-Resident Indians to save and grow their income in foreign currency and INR.
Bank of India NRI FD Rates: Bank of India is a state-owned commercial Indian Bank. The bank offers a wide range of financial and investment services to its customers in India and foreign countries. BOI NRI fixed deposits are one of the best investment avenues for Non-Resident Indians. These customers can open fixed deposit accounts with the bank to enjoy attractive Bank of India NRI FD Rates.
Bank of Baroda NRI FD Rates: Bank of Baroda is among the leading public sector banks in India with 131 million customers and 9, 482 branches. Apart from India, the bank has a global presence with 100 overseas offices. Non-Indian Resident (NRI) customers looking to save and grow their foreign income can invest in NRI fixed deposit schemes. Bank of Baroda provides NRIs with NRE, NRO and FCNR FD schemes.
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.
Kotak NRI FD Rates 2021: NRI Fixed Deposits are one of the best investment options for Non-Resident Indians to multiply their savings. Kotak Mahindra Bank offers primarily three types of NRI Fixed Deposits – NRE, NRO and FCNR – for its NRI customers. These FD accounts offer greater returns at attractive NRI interest rates. Here is the full description of prevailing Kotak Mahindra Bank NRI FD interest rates 2021.
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.
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.
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.
Punjab National Bank, also known as PNB, is the second largest bank in India in terms of business and network. The bank has a pan India presence with 10,930 branches and 13,878 ATMs. The bank also operates in the UK, Hong Kong, Kowloon, Dubai and Kabul through its subsidiaries and overseas branches. Just like its Indian customers, Punjab National Bank offers a vast array of financial services to Non-Resident Indian (NRI) customers, NRI Fixed Deposits, NRE Account, NRO Account, FCNR(B) Account, RFC Account, etc. In this article we will explore the latest PNB NRI FD Rates for 2021.
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.