NRE Deposits
Duration | For Amount less than Rs.2.00 Crore (% per annum w.e.f. 08.01.2021) |
---|---|
365 Days/ 1 year to 2 years | 4.90 |
Over 1 year to 2 years | 4.90 |
Over 2 years to 3 years | 4.90 |
Over 3 years to 5 years | 4.90 |
Over 5 years | 4.90 |
* 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