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Deposits

NRE Rupee Deposit

Get higher interest rates and seamless repatriability on foreign currency with Indian rupee term deposits

Convenient Transfers

Fund your account with any convertible currency

Flexible Tenure

1 to 10 years

Repatriability

Principal amount and interest earned are fully repatriable

Tax-Free Interest

Interest earned is not taxable in India

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Eligibility and Documentation

Fees and Charges

Features and Benefits

If you provide specific auto renewal instructions, the deposit will be renewed on maturity in accordance with the instructions. In the absence of any instructions, deposit will be renewed for the same period at the rates prevailing on the date of maturity.

You can avail of a loan against your NRE Deposits. The loan/overdraft can be used for personal purposes or for carrying on business activities other than:-

  • Relending
  • Agricultural/plantation activities
  • Real estate business

You can break your Deposit before the maturity period. NRE Deposits will qualify for interest only if they have run for a minimum period of 12 months.

As per current guidelines, funds in NRE Fixed Deposit Account are exempted from income tax in India.

You can have a nominee for the NRE Fixed Deposit Account.

You can hold the NRE Fixed Deposit Account jointly with other Non-Resident Indian(s).

No. NRO funds cannot be used to create NRE/FCNR Deposit.

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Download Forms

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