NRE Savings Interest Rates (as on 03 Aug 2021)

NRE Savings Account is an account which is opened by an NRI (Non Resident Indian) to park his/her overseas earnings remitted to India converted to Indian Rupees. This account is maintained in rupee. It offers the entire standard banking facilities such as issuance of cheque book/ debit card, nomination facility and other remittance facilities. The account holder will receive interest on the money deposited under this account which differs from bank to bank.

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NRE Savings Interest Rates by Banks (as on 03 Aug 2021)

Bank NameMin Interest Rates (p.a.)Min LimitMax Interest Rates (p.a.)Max LimitCalculate
Allahabad Bank4%Less than Rs 40 Lakhs4%Rs 40 Lakhs & above
Andhra Bank4%Upto Rs 50 Lakhs4%Above Rs 50 Lakhs
Axis Bank4%Below Rs 50 Lakhs4%Rs 50 Lakhs & above
Bandhan Bank Limited4%Below Rs 1 Lakh6%Rs 1 Lakh & above
Bank Of Baroda4%Upto Rs 50 Lakhs4%Above Rs 50 Lakhs
Bank Of India4%Upto Rs 50 Lakhs4%Above Rs 50 Lakhs
Bank Of Maharashtra4%Upto Rs 25 Lakhs4%Above Rs 25 Lakhs
Canara Bank4%Upto Rs 50 Lakhs4%Above Rs 50 Lakhs
Catholic Syrian Bank Limited4%Upto Rs 1 Lakh4%Above Rs 1 Lakh to Rs 50 Lakhs
Central Bank Of India4%Upto Rs 50 Lakhs4%Above Rs 50 Lakhs
City Union Bank Limited4%Upto Rs 1 Lakh4%Above Rs 1 Lakh
Corporation Bank4%Below Rs 50 Lakhs4%Rs 50 Lakhs & above
Dcb Bank Limited4%Below Rs 1 Crore6%Above Rs 1 Crore to Rs 5 Crores
Dena Bank4%Upto Rs 25 Lakhs4%Above Rs 25 Lakhs
Dhanalakshmi Bank4%Upto Rs 50 Lakhs4%More Than Rs 50 Lakhs
Federal Bank4%Below Rs 50 Lakhs4%Rs 50 Lakhs & above upto Rs 10 Crores
Hdfc Bank4%Below Rs 50 Lakhs4%Rs 50 Lakhs & above but below Rs 500 Crores
Icici Bank Limited4%Below Rs 50 Lakhs4%Rs 50 Lakhs & above
Idbi Bank4%Upto Rs 25 Lakhs4%Above Rs 25 Lakhs
Indian Bank4%Upto Rs 50 Lakhs4%Above Rs 50 Lakhs
Indian Overseas Bank4%Upto Rs 25 Lakhs4%Above Rs 25 Lakhs
Indusind Bank4%Upto Rs 10 Lakhs5%Above Rs 10 Lakhs to Rs 1 Crore
Jammu And Kashmir Bank Limited4%For Any Amount4%Above Rs 10 Lakhs
Karnataka Bank Limited3%Upto Rs 1 Lakh4%Above Rs 1 Lakh to Rs 50 Lakhs
Karur Vysya Bank4%Upto Rs 1 Lakh4%Above Rs 1 Lakh
Kotak Mahindra Bank Limited5%Upto Rs 1 Lakh6%Above Rs 1 Lakh to Rs 1 Crore
Laxmi Vilas Bank4%Upto Rs 1 Lakh5%Above Rs 1 Lakh to Rs 5 Lakhs
Oriental Bank Of Commerce4%Upto Rs 25 Lakhs4%Above Rs 25 Lakhs
Punjab And Sind Bank4%Upto Rs 20 Lakhs4%Above Rs 20 Lakhs
Punjab National Bank4%Upto Rs 25 Lakhs4%Above Rs 25 Lakhs
Rbl Bank Limited6%Upto Rs 1 Lakh6%Above Rs 1 Lakh to Rs 10 Lakhs
South Indian Bank4%Upto Rs 1 Lakh4%Above Rs 1 Lakh to below Rs 5 Crore
State Bank Of Bikaner And Jaipur4%Upto Rs 1 Crore4%Above Rs 1 Crore
State Bank Of Hyderabad4%Upto Rs 1 Crore4%Above Rs 1 Crore
State Bank Of India4%Upto Rs 1 Crore4%Above Rs 1 Crore
State Bank Of Mysore4%Upto Rs 1 Crore4%Above Rs 1 Crore
State Bank Of Patiala4%Upto Rs 1 Crore4%Above Rs 1 Crore
State Bank Of Travancore4%Upto Rs 1 Crore4%Above Rs 1 Crore
Syndicate Bank4%Upto Rs 25 Lakhs4%Above Rs 25 Lakhs
Tamilnad Mercantile Bank Limited4%Upto Rs 1 Lakh4%Above Rs 1 Lakh
Uco Bank4%Upto Rs 50 Lakhs4%Over Rs 50 Lakhs
Union Bank Of India4%Upto Rs 25 Lakhs4%Above Rs 25 Lakhs
United Bank Of India4%Upto Rs 50 Lakhs4%More Than Rs 50 Lakhs
Vijaya Bank4%Below Rs 50 Lakhs4%Rs 50 Lakhs & above
Yes Bank5%Below Rs 1 Lakh6%Rs 1 Lakh to Rs 1 Crore

Key features and Benefits of Non Resident External (NRE) Savings Account

  1. Maintained in rupee.
  2. Both the principal as well as the interest can be repatriated.
  3. Interest is payable usually on a half yearly basis.
  4. Offers easy liquidity.
  5. Offers remittance facility.
  6. Get the cheque book facility.
  7. Provision for nomination. Nominee can be Resident or Non-resident or PIO(person of Indian Origin)
  8. Local Rupee Cheques (drawn in India) cannot be deposited in this account.
  9. Cash in rupees cannot be deposited in this account.
  10. Money in this account can be transferred from any non-resident (External) Rupee Savings and Fixed / Term Deposit account or Foreign Currency Deposit (FCNR) account.
  11. No income tax liability.