Low balance required: Minimum monthly account balance as low as ₹ 10,000 only.

Easy movement of funds: Funds in NRE account are fully & freely repatriable.Tax benefits: Interest earned not taxable in India.Such closures include the withdrawals through sweep-ins and partial withdrawals as well.ĭisclaimer: Interest rates on FCNR and RFC deposits are subject to change on the 1st of every month and as per the guidelines issued by the Reserve Bank of India from time to time.NRE Savings Account Features and Benefits With the revision in the premature closure policy, Bank will now levy a penalty of 1%, on the applicable rate for deposits in RTD & RD closed prematurely. To illustrate as an example, if a deposit is placed for 5 years and after 1 year the depositor wants to close the deposit prematurely, then the interest rate applied will be the rate which was applicable for one year on the original date of deposit. Interest payable on prematurely withdrawn deposits will be the rate applicable for the amount and the period for which the deposit remained with the Bank (rate applicable for that tenure on the original date of the deposit). Interest payable on Premature Withdrawal of Term Deposits FCNR(B) deposit above USD 1 million or equivalent should be placed with prior consultation of Branch or NRI Cell at Savings Plan- (Rebranding of Recurring Deposit) (Effective From: November 12, 2023) Tenor.No interest will be paid on FCNR deposits closed pre-maturely in less than 1 year.Minimum tenure for RFC Term Deposit is 6 months.Interest rates on RFC and FCNR(B) deposits are subject to change on the 1st of every month and as per the guidelines issued by the Reserve Bank of India from time to time.The interest rate structure of non-callable variants in different brackets: Maturity Bucketsįoreign Currency Non Resident (Bank) - FCNR (B) deposit rates ( % p.a.) (Effective From: December 01, 2023)įor Deposit amount more than USD 5 million “IDBI Special Non-callable option FD” scheme for maturity period ranging from 1 Yr to 7 Years ,including 444 Days (w.e.f.

“Festive Offer Extension of ‘Utsav FD’ for 375 Days and 444 Days up to December 31, 2023) Special Buckets 2 Crore Maturity SlabĢ71 days up to 1 Year to 2 Years(except 444 Days) Non Resident Ordinary - NRO Term Deposit rates (Effective From: Novem)

Hdfc nre deposit rates