NRE
Rupee
Deposit

With Axis Bank NRE Rupee Deposits, you can now get higher interest rates and tenure starting from 1 year with seamless repatriability. Along with flexible tenure earn a tax-free interest. Below we have listed down the different benefits of NRE Rupee Deposits

Flexible Tenure

Flexible Tenure

Automatic renewal

Automatic renewal

Fully Repatriable

Fully Repatriable

Tax free

Tax free

Axis Bank offers NRIs an NRE Rupee deposit. Below we have listed down FAQs for NRI Rupee Deposits to resolve any queries you might have related to this service. If you have any additional queries, you can reach out to the Bank representative. Please check out the NRE Rupee deposits FAQs to find out more about this service:


Can my NRE Deposits with the Bank be automatically renewed on maturity?
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.
Can I avail of a loan against my NRE Deposits?
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
Can I break my Deposit before the maturity period?
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.
What taxes am I liable to pay if I have an NRE Fixed Deposit?
As per current guidelines, funds in NRE Fixed Deposit Account are exempted from income tax in India.
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.
Can I have a joint applicant for the NRE Fixed Deposit?
Yes, You can have a joint applicant for the nre fixed deposit
Can I transfer funds from my existing NRO Accounts to open NRE / FCNR Deposit?
No. NRO funds cannot be used to create NRE/FCNR Deposit.

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