Foreign Currency
Deposits at
GIFT City IBU

Foreign currency fixed deposits offered by GIFT City - IBU Branch are tailored for Non-Resident Indians (NRIs) to invest and enjoy attractive returns. FDs can be booked both digitally (USD) via Mobile Banking App, open and physically (GBP, CAD, EURO, AUD, and JPY) by contacting the GIFT City - IBU Branch or your Relationship Manager .

6 currency options

Attractive interest rates

Seamless digital journey

Partial & full withdrawal digitally

What is Axis Bank Gift City FD?

The GIFT City FD is a USD fixed deposit product designed for Existing Non-Resident Indians (NRIs), offered by Axis Bank GIFT City IBU.

What are some features of Gift City FD booked digitally?

Key Benefits of GIFT City FD:

Flexible Tenure (7 days to 10 Years)
No currency exchange is required during the entire transaction
Seamless Digital Journey Partial/full pre-mature withdrawal from MB

Can I deposit in currencies other than USD?

Currently, only USD deposits can be made digitally.

What is the minimum deposit amount for opening a GIFT City FD?

GIFT City FD can be created for amounts ranging from USD 1,100 to USD 10 million.

Are the interest rates different from regular NRE fixed deposits?

Yes, the interest rates for the GIFT City FD may differ from regular NRE fixed deposits as this product is based out of GIFT City branch which is a SEZ (Special Economic Zone).

Is the interest earned on the GIFT City FD taxable?

The interest earned on the GIFT City FD is not subject to tax deduction at source (TDS) in India. However, NRIs may need to check tax rules in their country of residence.

Can I withdraw the FD prematurely?

Yes, premature withdrawal of the GIFT City FD is allowed, but it may attract a penalty, i.e. interest paid will be 0.15% (15bps) lower than the rate applied on the start date of deposit (for the tenure for which it remained with bank) or the actual rate of deposit whichever is lower. Your request will be processed within 4-5 working days.