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Interest Rates NRI & NRE

NRI Rupee savings Deposit (w.e.f. 10/10/2017 )

Sr.No.

Currency

Type of Deposit

Revised Rates (% p.a.)

1 INR NRI Rupee Savings Deposit 3.5% (<=25 lakh), 4% (>25 lakh)

 

Non Resident External (NRE) Term Deposits Interest Rates (w.e.f. 05/08/2019 )

Sr.No.

Period of Deposit/ Tenors

Rate of Interest (% p.a.)

Less than ₹ 2 cr

Rate of Interest (% p.a.)

₹ 2 cr to less than ₹ 5 cr

1 1 year exact 6.50 6.50
2 Above 1 year upto 2 Years 6.70 6.70
3 Above 2 Year to upto 5 Years 6.50 6.50
4 Above 5 Years to 10 Years 6.50 6.50

*No interest is payable on premature closure of NRE term deposit before completion of minimum period of 1 year.

  • Acceptance of deposits of ₹ 5 crores and above is at the discretion of the Bank. For accepting / renewing Term deposits of ₹ 5.00 crores and above, branches have to get prior permission of CO:BS&P Department through respective ROs.
  • Additional interest to Employees / eligible ex-employees and senior citizens as applicable to Domestic Term Deposits is not applicable on NRE deposits.
  • Regarding Premature closure of term deposits, guidelines of our Circular No. 167/2018/BC/BS, P&M-28 dated 25.04.2018 are to be adhered.
  • The revised rate of interest shall apply to fresh as well as renewals of existing domestic/NRO/NRE Deposits w.e.f.05/08/2019 .

Premature Withdrawal of Term deposit

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