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NRE Deposits
| Duration | For Amount less than Rs.2.00 Crore (% per annum w.e.f. 09.07.2020) |
|---|---|
| 365 Days/ 1 year to 2 years | 5.00 |
| Over 1 year to 2 years | 5.00 |
| Over 2 years to 3 years | 5.00 |
| Over 3 years to 5 years | 5.00 |
| Over 5 years | 5.00 |
* 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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