NRO RD Interest Rates (as on 22 May 2024)

What is NRO RD Account?

NRO Recurring Deposit Account is an option for NRIs to make large sum by investing small sums every month on a regular and consistent basis over a period of time. It is maintained in Indian Rupees. Its tenure ranges from 6 months to 10 years.

One can make use of free internet banking facility offered for 24-hour access to his/ her RD account. Know the steps to open NRO RD Account.

Bank NRO recurring deposit Interest Rates (as on 22 May 2024). The NRO (Non Resident Ordinary) 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.

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Interest and Taxation

Interest earned on NRO RD is fully taxable and also subject to the applicable TDS (tax deduction at source). Depositor is required to pay tax on interest earned on this account. You can calculate the interest earned on NRO RD account using NRO RD Interest Calculator.

NRO RD Interest Rates (as on 22 May 2024)

Bank NameRecurring Interest RatesRD RatesCalculate
Allahabad Bank6.10% to 6.10%
Andhra Bank6.70% to 6.30%
Bank Of Baroda6.50% to 6.75%
Bank Of India6.00% to 7.00%
Bank Of Maharashtra5.75% to 6.35%
Canara Bank6.70% to 7.00%
Central Bank Of India6.25% to 6.75%
Corporation Bank6.70% to 6.30%
Dena Bank6.50% to 6.75%
Idbi Bank6.25% to 6.80%
Indian Bank6.10% to 6.10%
Indian Overseas Bank6.50% to 6.50%
Oriental Bank Of Commerce6.50% to 6.75%
Punjab National Bank6.50% to 6.75%
Punjab And Sind Bank6.25% to 6.40%
State Bank Of India6.50% to 6.80%
State Bank Of Mysore6.50% to 6.80%
State Bank Of Hyderabad6.50% to 6.80%
State Bank Of Patiala6.50% to 6.80%
State Bank Of Travancore6.50% to 6.80%
State Bank Of Bikaner And Jaipur6.50% to 6.80%
Syndicate Bank6.70% to 7.00%
Uco Bank6.10% to 6.50%
Union Bank Of India6.70% to 6.30%
United Bank Of India6.50% to 6.75%
Vijaya Bank6.50% to 6.75%
Axis Bank7.00% to 6.75%
Bandhan Bank Limited5.85% to 7.25%
Catholic Syrian Bank Limited6.00% to 5.00%
City Union Bank Limited6.25% to 6.75%
Dcb Bank Limited7.75% to 7.25%
Dhanalakshmi Bank6.60% to 6.75%
Federal Bank6.60% to 6.80%
Hdfc Bank7.00% to 5.75%
Icici Bank Limited6.90% to 6.70%
Indusind Bank7.00% to 7.75%
Jammu And Kashmir Bank Limited6.50% to 7.10%
Karnataka Bank Limited5.80% to 7.00%
Karur Vysya Bank6.25% to 7.00%
Kotak Mahindra Bank Limited6.20% to 7.10%
Laxmi Vilas Bank6.50% to 6.25%
South Indian Bank6.00% to 6.60%
Tamilnad Mercantile Bank Limited6.50% to 7.25%
Yes Bank7.00% to 7.50%
Disclaimer: The NRO Recurring Deposit Interest Rates keep on changing. You are advised to check the interest rates with banks before making your FD.     Source: Bank Websites