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Deposits

NRI Deposits Interest Rates

 

Interest Rates on NRI Deposits

For complete details, check Interest Rates on NRI Deposits
* Rates Subject to Change as per market conditions without prior notice.
#TDS is deducted @ 30% + education cess on interest earned on NRO deposits
$NRO Fixed Deposit Cannot be booked for tenure less than six months through Internet Banking

No interest payable for foreclosure within a year.

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

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

  • No penalty for individual NRE deposits below INR 5 Crore.
  • No interest payable for foreclosure within a year
  • 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.

For all new Reinvestment Term Deposits to be opened on and after 1st August, 2013 and all existing Reinvestment Term Deposits that may be renewed on and after 1st August, 2013, interest reinvested would be net of TDS and hence the maturity value would vary to that extent.

For deposit rates please contact following officials from the respective branches

  • Hong Kong Branch
    • For deposit rates of Hong Kong Branch, click here
  • Singapore Branch
    • Mr. Gautam Kakar: +65 6571 9204 or +65 6571 9202
  • DIFC, Dubai Branch
    • Mr. Manoj Philip: +9714 3735520 or +9714 3735555
    • Ms. Winnie Joseph: +9714 3735516 or +9714 3735555

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