NRE Savings Account Interest Rates (as on 04 Oct 2023)
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 17/11/2021)
| Bank Name | Min Interest Rates (p.a.) | Min Limit | Max Interest Rates (p.a.) | Max Limit | Calculate |
|---|---|---|---|---|---|
| Allahabad Bank | 3% | Upto Rs 10 Lakhs | 3% | Rs 10 Lakhs to less than Rs.200 Crores | |
| Andhra Bank | 3% | Upto Rs 50 Lakhs | 3% | Above Rs 50 Lakhs and Upto Rs.100 crore | |
| Axis Bank | 3% | Below Rs 50 Lakhs | 4% | Rs 50 Lakhs & upto less than Rs. 800 Crores | |
| Bandhan Bank Limited | 3% | Upto Rs 1 Lakh | 6% | Above Rs 1 Lakh to Rs. 10 Lakhs | |
| Bank Of Baroda | 3% | Upto Rs 50 Crores | 3% | Rs 50 crores and above to less than Rs 200 crores | |
| Bank Of India | 3% | Upto Rs 1 Lakh | 3% | Above Rs 1 Lakh | |
| Bank Of Maharashtra | 3% | Upto Rs 25 Lakhs | 3% | Above Rs 25 Lakhs | |
| Canara Bank | 3% | Upto Rs 5 Crores | 3% | Rs. 6 Crores to less than Rs 10 Crores | |
| Catholic Syrian Bank Limited | 2% | Upto Rs 1 Lakh | 3% | Above Rs 1 Lakh to Rs 25 Lakhs | |
| Central Bank Of India | 3% | Upto Rs 10 Crores | 3% | Above Rs 10 Crores to Rs 1000 Crores | |
| City Union Bank Limited | 3% | Upto Rs 1 Lakh | 4% | Above Rs 1 Lakh and up to Rs.10 Lakhs | |
| Corporation Bank | 3% | Upto Rs 50 Lakhs | 3% | Above Rs 50 Lakhs and Upto Rs.100 crore | |
| Dcb Bank Limited | 2% | Upto Rs 1 Lakh | 4% | Above Rs 1 Lakh and less than Rs. 2 Lakhs | |
| Dena Bank | 3% | Upto Rs 50 Crores | 3% | Rs 50 crores and above to less than Rs 200 crores | |
| Dhanalakshmi Bank | 3% | Upto Rs 1 Lakh | 3% | Above Rs 1 Lakh upto Rs.5 Lakhs | |
| Federal Bank | 3% | Below Rs 5 Lakhs | 3% | Rs 5 Lakhs to less than Rs 50 Lakhs | |
| Hdfc Bank | 3% | Below Rs 50 Lakhs | 4% | Rs 50 Lakhs & above | |
| Icici Bank Limited | 3% | Below Rs 50 Lakhs | 4% | Rs 50 Lakhs & above | |
| Idbi Bank | 3% | Upto Rs 5 Crores | 3% | Rs. 5 Crores to Rs 100 Crores | |
| Indian Bank | 3% | Upto Rs 10 Lakhs | 3% | Rs 10 Lakhs to less than Rs.200 Crores | |
| Indian Overseas Bank | 3% | Upto Rs 1 Crore | 3% | Above Rs 1 Crore | |
| Indusind Bank | 4% | Upto Rs 1 Lakh | 5% | Above Rs. 1 Lakh Upto Rs. 10 Lakhs | |
| Jammu And Kashmir Bank Limited | 3% | Upto Rs 10 Lakhs | 3% | Above Rs 10 Lakhs | |
| Karnataka Bank Limited | 3% | Upto Rs 50 Lakhs | 4% | Above Rs 50 Lakhs to Rs 100 Lakhs | |
| Karur Vysya Bank | 2% | Upto Rs 5 Lakh | 3% | Above Rs 5 Lakhs to Rs 10 Lakhs | |
| Kotak Mahindra Bank Limited | 4% | Upto Rs 50 Lakhs | 4% | Above Rs 50 Lakhs | |
| Laxmi Vilas Bank | 3% | Upto Rs 1 Lakh | 4% | Above Rs 1 Lakh to Rs 2 Lakhs | |
| Oriental Bank Of Commerce | 3% | Upto Rs 10 Lakhs | 3% | Above Rs 10 Lakhs to less than Rs.100 Crores | |
| Punjab And Sind Bank | 3% | Upto Rs 1 Crores | 3% | Above 1 Crore to upto 100 Crores | |
| Punjab National Bank | 3% | Upto Rs 10 Lakhs | 3% | Above Rs 10 Lakhs to less than Rs.100 Crores | |
| South Indian Bank | 3% | Upto Rs 2 Lakhs | 3% | Above Rs 2 Lakhs to below Rs 5 Crore | |
| State Bank Of Bikaner And Jaipur | 3% | Upto Rs 10 Crores | 3% | Above Rs 10 Crores | |
| State Bank Of Hyderabad | 3% | Upto Rs 10 Crores | 3% | Above Rs 10 Crores | |
| State Bank Of India | 3% | Upto Rs 10 Crores | 3% | Above Rs 10 Crores | |
| State Bank Of Mysore | 3% | Upto Rs 10 Crores | 3% | Above Rs 10 Crores | |
| State Bank Of Patiala | 3% | Upto Rs 10 Crores | 3% | Above Rs 10 Crores | |
| State Bank Of Travancore | 3% | Upto Rs 10 Crores | 3% | Above Rs 10 Crores | |
| Syndicate Bank | 3% | Upto Rs 5 Crores | 3% | Rs. 6 Crores to less than Rs 10 Crores | |
| Tamilnad Mercantile Bank Limited | 3% | Upto Rs 10 Lakhs | 3% | Above Rs 10 Lakhs | |
| Uco Bank | 3% | Upto Rs 10 Lakhs | 3% | Over Rs 10 Lakhs | |
| Union Bank Of India | 3% | Upto Rs 50 Lakhs | 3% | Above Rs 50 Lakhs and Upto Rs.100 crore | |
| United Bank Of India | 3% | Upto Rs 10 Lakhs | 3% | Above Rs 10 Lakhs to less than Rs.100 Crores | |
| Vijaya Bank | 3% | Upto Rs 50 Crores | 3% | Rs 50 crores and above to less than Rs 200 crores | |
| Yes Bank | 4% | Upto Rs 1 Lakh | 4% | Rs 1 Lakh to less than Rs 5 Lakhs |
Key features and Benefits of Non Resident External (NRE) Savings Account
- Maintained in rupee.
- Both the principal as well as the interest can be repatriated.
- Interest is payable usually on a half yearly basis.
- Offers easy liquidity.
- Offers remittance facility.
- Get the cheque book facility.
- Provision for nomination. Nominee can be Resident or Non-resident or PIO(person of Indian Origin)
- Local Rupee Cheques (drawn in India) cannot be deposited in this account.
- Cash in rupees cannot be deposited in this account.
- 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.
- No income tax liability.