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NRE RD Interest Rates (as on June 2, 2017)

About NRE RD Account

A Non-Resident External Recurring Deposit (NRE RD) can be opened by an Individual NRI (other than Individuals of Bangladesh/Pakistan nationality/ownership). This is used for a regular and systematic investment by depositing small amount every month from one's foreign income. Minimum period of RD is 1 year (in multiples of 3 months thereafter) & the maximum period of RD is 10 years. Amount in NRE RD is denominated in Indian currency i.e. Rupees. Know the steps to open NRE RD Account.

Bank NRE recurring deposit Interest Rates (as on 20 Jan 2021). The interest rates will be the same as the rate applicable for NRE Fixed Deposit. The interest on deposits is compounded quarterly at the applicable rates. Interest is paid only on maturity. You can calculate the interest earned on NRE RD account using NRE RD Interest Calculator.

The NRE interest rates on recurring deposit depend on which category for example 1 year, 2 year, 3 year ... 5+ year, you fall under and your choice between different banks. To see all recurring deposit interest rates for selected bank, click on "All RD Rates" button listed below.

Repatriation & Taxation

Principal & interest are fully repatriable. Interest earned is exempted from Tax in India hence the depositor need not be worried about taxation in India.

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Who Can Deposit Money in NRE Fixed Deposit Account?

A Non-Resident External Fixed Deposit can be opened by an Individual NRI (other than Individuals of Bangladesh/Pakistan nationality/ownership). The major objective of opening this account is to invest his/ her income earned in India to get higher returns. This account is denominated in Indian Rupees. Principal as well as interest earned on the principal are fully repatriable. It can be opened jointly with other NRI(s). One can get the facility of automatic renewal of his/ her deposits. Know the steps to open NRE FD Account.

Minimum tenure of investment is usually 1 year and the maximum tenure is 10 years under NRE Fixed Deposit Accounts. With regard to taxation, the interest earned is fully exempted in India and the depositor is not required to pay any income tax on that.

Here an important point to note is that the additional rate of interest of 0.50% p.a. payable on fixed deposits to senior citizens does not apply to NRE Fixed Deposits. You can calculate the interest earned on NRE FD account using NRE FD Interest Calculator.

Premature Withdrawal of NRE Fixed Deposit Account

  • Before completion of 1 year: No interest
  • After completion of 1 year: Interest will be calculated at the rate applicable for the period for which the deposit was held with the Bank or contracted rate of the deposit, whichever is lower, plus penalty of 1%

NRE RD Interest Rates (as on 20 Jan 2021)

Bank NameRecurring Interest RatesRD RatesCalculate
Allahabad Bank6.50% to 6.75%All RD Rates
Andhra Bank5.45% to 5.40%All RD Rates
Bank Of Baroda5.30% to 5.10%All RD Rates
Bank Of India5.25% to 5.35%All RD Rates
Bank Of Maharashtra5.00% to 5.00%All RD Rates
Canara Bank5.30% to 5.40%All RD Rates
Central Bank Of India5.10% to 5.00%All RD Rates
Corporation Bank5.45% to 5.40%All RD Rates
Dena Bank5.30% to 5.10%All RD Rates
Idbi Bank4.80% to 5.20%All RD Rates
Indian Bank5.15% to 5.25%All RD Rates
Indian Overseas Bank5.35% to 5.30%All RD Rates
Oriental Bank Of Commerce5.30% to 5.25%All RD Rates
Punjab National Bank5.30% to 5.25%All RD Rates
Punjab And Sind Bank5.55% to 5.55%All RD Rates
State Bank Of India5.30% to 5.10%All RD Rates
State Bank Of Mysore5.30% to 5.10%All RD Rates
State Bank Of Hyderabad6.85% to 5.10%All RD Rates
State Bank Of Patiala5.30% to 5.10%All RD Rates
State Bank Of Travancore5.30% to 5.10%All RD Rates
State Bank Of Bikaner And Jaipur5.30% to 5.10%All RD Rates
Syndicate Bank5.30% to 5.10%All RD Rates
Uco Bank4.95% to 5.00%All RD Rates
Union Bank Of India5.45% to 5.40%All RD Rates
United Bank Of India6.00% to 6.50%All RD Rates
Vijaya Bank5.30% to 5.10%All RD Rates
Axis Bank5.50% to 5.20%All RD Rates
Bandhan Bank Limited5.75% to 5.75%All RD Rates
Catholic Syrian Bank Limited5.75% to 5.25%All RD Rates
City Union Bank Limited5.25% to 5.50%All RD Rates
Dcb Bank Limited6.95% to 6.50%All RD Rates
Dhanalakshmi Bank5.60% to 5.25%All RD Rates
Federal Bank5.60% to 5.45%All RD Rates
Hdfc Bank5.50% to 5.10%All RD Rates
Icici Bank Limited5.50% to 5.00%All RD Rates
Indusind Bank6.65% to 7.00%All RD Rates
Jammu And Kashmir Bank Limited5.30% to 5.10%All RD Rates
Karnataka Bank Limited5.70% to 5.50%All RD Rates
Karur Vysya Bank5.65% to 5.50%All RD Rates
Kotak Mahindra Bank Limited4.50% to 4.75%All RD Rates
Laxmi Vilas Bank6.00% to 6.00%All RD Rates
Rbl Bank Limited6.65% to 7.00%All RD Rates
South Indian Bank5.60% to 5.50%All RD Rates
Tamilnad Mercantile Bank Limited5.75% to 5.90%All RD Rates
Yes Bank6.75% to 6.75%All RD Rates
Disclaimer: The NRE Recurring Deposit Interest Rates keep on changing. You are advised to check the interest rates with banks before making your FD.     Source: Bank Websites

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