Interest Rates on NRI Deposits

Interest Rates on NRI deposits click here

* Rates Subject to Change as per market conditions without prior notice.
#TDS is deducted @ 30% + education cess on interest earned on NRO deposits

* Terms & Conditions for foreclosure of Term Deposit :

FCNR A/c:

• USD- No penalty for individual deposit upto USD 1 million.
• EURO- No penalty for individual deposit upto EURO 1 million.
• GBP - No penalty for individual deposit upto GBP 750,000.
• JPY- No penalty for individual deposit upto JPY 125 million.
• AUD- No penalty for individual deposit upto AUD 1.5 million.
• CAD- No penalty for individual deposit upto CAD 1.5 million.

• For a single deposit amount exceeding the above threshold limit, interest will be for the period upto which the deposit remained with the bank less penalty of 1% for foreclosure.
• No interest payable for foreclosure within a year.

* Above provisions will apply to deposits accepted or renewed on or after February 01, 2003.

NRE TDs:

• No penalty for individual deposits upto Rs.5 Crore wef- November 25, 2002.
• No interest payable for foreclosure within a year.

Interest calculation for FCNR deposit:

Interest is calculated on a 360 days basis. The interest is calculated on a simple interest basis for deposits tenure of 1 year and for further maturity periods / tenure interest is calculated and paid on half yearly compounded basis.