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Deposits

NRI Fixed Deposit Plus

Deposit Options

Available in NRE and NRO variants

Minimum Deposit

Rs. 15, 00,001

Renewability

Auto renewal not available

Premature Withdrawal

Premature withdrawal prior to maturity date is not allowed

Features and Benefits


Features and Benefits

Minimum deposit of Rs. 15,00,001 with no maximum limit

Pick between simple interest and compound interest options

  • Short Term Deposits
  • Reinvestment Deposit
  • Monthly and Quarterly Payout Deposits
  • For fixed deposits with tenure of 6 months and above, interest is calculated on a quarterly basis.
  • Interest earned during the previous quarter is added to the Principal for calculation of interest. Fixed deposit interest rate on this amount is calculated every quarter.
  • For fixed deposits schemes with tenure of below 6 months, interest is calculated at Simple Interest. Please note that the period of Fixed Deposit is considered in number of days.
  • In the event the depositor chooses to receive the periodic interest payments on a quarterly basis, interested is calculated and paid on quarterly rests.
  • The FD rate applicable for a monthly interest option will be discounted rate over the standard rate.
  • Tax at source is deducted as per the Income Tax regulations prevalent from time to time.
  • No interest will be paid if the NRE Deposit is prematurely withdrawn prior to the completion of 1 year
  • The special rates for Senior Citizens will not be applicable on NRI Deposits

TDS in respect of interest earned on fixed deposits, is deducted on the basis of the total interest projected on the aggregate of fixed deposits of the customer, for the financial year. TDS is deducted @ 30% + education cess on interest earned on NRO Deposits


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