Latest NRE FD and NRI Savings Account Interest Rates?
SBNRI Team
answered on 02/09/2020
Latest NRE FD and NRI Savings Account Interest Rates 2020
|
Banks |
Savings Account Rates | Tax-Free NRE FD Interest Rates |
| Federal | 2.50% |
Up to 5.50%* |
| 2.70% | Up to 5.40%* | |
| Citibank | 2.75% |
Up to 3.75%* |
| 2.75% | Up to 5.35%* | |
| Canara Bank | 2.90% |
Up to 5.30%* |
| 3% | Up to 5.15%* | |
| ICICI | 3% (below 50 Lakhs)
3.50% (above 50 Lakhs) |
Up to 5.50%* |
| 3.50% (above 50 Lakhs)
3% (below 50 Lakhs) |
Up to 5.50%* | |
| Indian Overseas Bank | 3.10% |
Up to 5.25%* |
| 3% | Up to 5.25%* | |
| IDBI Bank | 3% (below 25 Lakhs)
3.25% (above 25 Lakhs to 50 Lakhs) 3.50% (above 50 lakhs) |
Up to 5.20%* |
| 3.50% | Up to 4.50%* | |
| DCB | 3.50% |
Up to 6.90%* |
| 3% (below 50 Lakhs)
3.50% (above 50 Lakhs) |
Up to 5.50%* | |
| DBS Bank | 3.5% (upto 1 lakh)
5% (1 lakh to 2 lakh) 3.5% (above 2 lakh) |
Up to 4.35%* |
| 4% | Up to 5.40%* | |
| United Bank of India | 3% |
Up to 5.25%* |
| 4% (upto 1 lakh)
5% (1 lakh to 10 lakh) 6% (above 10 lakh) |
Up to 7%* | |
| SBM | 5% (up to 5 Lakhs)
6% (above 5 Lakhs) |
Up to 7.50%* |
| 4% (up to 1 lakh)
5% (1 lakh to 10 lakhs) 6% (above 10 lakhs) |
Up to 7%* | |
| RBL | 6.75% |
Up to 6.95%* |
| 6% (up to 1 lakh)
7% (above 1 lakh) |
Up to 6%* | |
| Central Bank of India | N.A. |
Up to 5%* |
| N.A. |
Up to 7.25%* |
Note: The NRE FD and NRI Savings Account Interest Rates update every month. We track the updates and present them here for you in the table above. The table was last updated on (16/11/2020). To check the interest rates in real time, just click on the name of the bank in the table. You’ll be guided to the rate explorer page of the respective bank chosen.
Related Questions
SBNRI Team
answered on 10/09/2020
No, you won’t get any notice from ITR but you will have to declare this amount under “exempted income” while filing your taxes. To book your NRE FD effortlessly at the comfort of your homes, click on the button below. Share via:
SBNRI Team
answered on 23/03/2020
Minimum tenure of NRE FD is 1 year. The NRE account can be opened for the purpose of maintaining the income earned outside India with tax free interest (upto 7.25%*) on Fixed Deposits. Both the principal amount and interest earned are completely repatriable from India. Although, domestic credits aren’t allowed. NRE FD Premature Withdrawal […]
SBNRI Team
answered on 23/03/2020
There are multiple factors to consider while drawing out a comparison between NRE/NRO/FCNR Fixed Deposits. Here is an overview of the accounts for you to choose the best Fixed Deposit as per your needs. Comparison between NRE/NRO/FCNR Fixed Deposits: Factors to consider Non Resident External (NRE) Account Non Resident Ordinary (NRO) Account Foreign […]
SBNRI Team
answered on 24/03/2020
Only the interest earned on NRO Deposit is taxable in India: 30% tax + surcharge + education cess* is deducted at the source of interest earned in India. The repatriation of the money in the account can be done up to a maximum of 1 million USD per financial year. *(Cess: A cess is […]