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NRE/NRO Deposit Interest Rates

NRE Rupee Term Deposits

Interest rates for NRE Rupee Term Deposits w.e.f. 10.04.2023

Maturity Pattern

Interest Rate (% p.a) for Deposits below Rs.2 Crore

Interest Rate (% p.a) for Deposits Rs.2 Crore and upto Rs. 10 Crore

375 days (KBL Centenary Deposit)

7.30

7.30

1 Year to 2 Years

7.00

7.00

Above 2 Year to 5 Years

6.50

6.50

Above 5 Year to 10 Years

5.80

5.80

 

NRO Rupee Term Deposits

Interest rates for NRO Rupee Term Deposits w.e.f. 10.04.2023

Maturity Pattern

Interest Rate (% p.a) for Deposits below Rs.2 Crore

Interest Rate (% p.a) for Deposits Rs.2 Crore and upto Rs. 10 Crore

7 days to 45 days

4.50

5.00

46 days to 90 days

4.50

5.00

91 days to 364 days

5.25

5.25

1 year to 2 years

7.00

7.00

375 days (KBL Centenary Deposit)

7.30

7.30

Above 2 Year to 5 years

6.50

6.50

Above 5 year to 10 years

5.80

5.80

 

Premature Closure of NRE Deposits:

In the case of NRE rupee deposits, the minimum period of deposit is 1 year. Hence, no interest is payable on premature closure of NRE rupee deposits within 1 year.

 

Interest on FCNR (B) Deposits & RFC Deposits.

The Interest rates on FCNR (B) and RFC Deposits with effect from 10th February, 2023 are as under.

Period USD GBP EUR CAD AUD JPY CHF SEK HKD SGD
1 Year Only 5.25 3.67 1.00 3.35 2.55 0.15 0.05 0.15 0.33 0.42
Above 1 year but less than 2 Years 5.25 3.67 1.00 3.35 2.55 0.15 0.05 0.15 0.33 0.42
2 Years and above but less than 3 Years 4.65 3.02 1.00 3.35 2.60 0.16 NA NA 0.72 0.84
3 Years and above but less than 4 years 4.50 2.84 1.00 3.30 2.32 0.12 NA NA 0.74 0.78
4 Years and above but less than 5 Yrs 4.00 2.82 0.82 3.27 2.44 0.09 NA NA 0.65 0.78
5 Years only 3.90 2.72 0.81 3.22 2.53 0.09 NA NA 0.57 0.78

 

Interest Rates for RFC (Maturity less than 1 YEAR) w.e.f 10.02.2023 are as under.

Period USD GBP EUR CAD AUD JPY CHF SEK HKD SGD
Savings Bank 0.30 NIL NIL NIL NIL NIL NIL NIL NIL NIL
One Month to less than Three Months 0.50 NIL NIL NIL NIL NIL NIL NIL NIL NIL
Three Months to less than Six Months 0.75 NIL NIL NIL NIL NIL NIL NIL NIL NIL
Six Months but less than One Year 1.00 NIL NIL NIL NIL NIL NIL NIL NIL NIL

Broken period interest on FCNR (B) Deposits w.e.f from 10.02.2023.

Currency USD GBP EUR CAD AUD JPY CHF SEK HKD SGD
Broken Period Interest 0.10% 0.10% NIL 0.10% 0.10% NIL NIL NIL NIL NIL

Savings Bank Account - Interest Rates

Interest rates for Non Resident External [NRE] and Non Resident Ordinary [NRO] Savings Bank accounts w.e.f. 01.06.2020.

Type of account

Day-end Balance

Rate of Interest(% per annum)

All NRE & NRO SB accounts

Upto & including ₹ 1 Lakh

2.75

Above ₹ 1 lakh up to ₹ 10 Lakh

2.75

Above ₹ 10 lakh up to ₹ 50 Lakh

2.75

₹ 50 lakh up to ₹ 100 Lakh

3.50

Above ₹ 100 lakh

4.50