NRE Term Deposit Interest Rates
Federal bank offers attractive returns to the money you invest as an NRE customer. Interest rates for the deposit are mentioned below.
Non-Resident accounts are not eligible for additional interest offered to senior citizens.
The Minimum tenor for earning the interest on NRE Fixed Deposit is 1 year.
Penalty of 1% for premature closure applicable for all NRE term deposits irrespective of amount, opened/renewed on or after 14.06.2018.
Interest rates for NRE Term Deposits effective from 02-08-2024 (Rates in % p.a)
| Period | Single Deposit Less than ₹300 Lakhs |
|---|---|
| 1 year to 399 days | 6.80% |
| 400 days | 7.35% |
| 401 days to 776 days | 7.05% |
| 777 days | 7.40% |
| 778 days to less than 3 years | 7.05% |
| 3 years to less than 50 months | 7.00% |
| 50 Months | 7.40% |
| Above 50 months to less than 5 years | 7.00% |
| 5 years and above | 6.60% |
Effective Annualized Rate of Return for NRE Term Deposit (single deposits of less than ₹300 Lakhs)
Effective Annualized Rate of Return for NRE Term Deposit (single deposits of less than ₹300 Lakhs)
NRE Deposit Plus (Non-Callable - NRE TD without premature withdrawal)- effective from 01.10.2024
|
Period |
Rates of Interest (Deposit Less than ₹3 Cr) |
|
1 year to less than 15 months |
7.55% |
|
15 months to less than 2 years |
7.45% |
|
2 years to less than 3 years |
7.30% |
|
3 years to less than 5 years |
7.25% |
|
5 years |
6.85% |
Effective Annualized Rate of Return for NRE Deposit Plus Scheme - NRE Term Deposits without option for Premature Withdrawal (Non-Callable)
Effective Annualized Rate of Return for NRE Deposit Plus Scheme - NRE Term Deposits without option for Premature Withdrawal (Non-Callable)
| File name | Description | |
| HVD Web Interest- 08.11.2024 | Interest rates for Resident & NRE Term Deposits of Rs.3 crore and above | (189.06) KB |
| File name | Description | |
| HVD-NW webinterest 07.11.2024 | Interest rates for Resident & NRE Term deposit (Non Withdrawable) of Rs 3 Crore and above | (150.74) KB |