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NRE Deposits
| Duration | For Amount less than Rs.10.00 Crore (% per annum w.e.f. 17.04.2023) |
|---|---|
| 365 Days/ 1 year | 6.35 |
| Over 1 year to 399 days | 6.00 |
| 400 days* (Maha Dhanavarsha) | 6.75 |
| 401 days to 2 years | 6.00 |
| Over 2 years to 3 years | 6.00 |
| Over 3 years to 5 years | 5.75 |
| Above 5 Years | 5.75 |
* Bank Term Deposits Scheme,2006 (5 years Tax Saving Scheme) is applicable upto Rs.1.5 Lakh only
- No interest is payable if the deposit is prematurely closed before the minimum period of one year.
- Above one year premature payment attracts penalty of 1%.
- No additional interest to senior citizens is allowed.
- The interest rate for NRE Savings Deposits is upto 2.75 %
- All rates are subject to change from time to time
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