• Bandhan Bank NRI Fixed Deposits

    Bandhan Bank offers the NRE Fixed Deposit scheme at attractive interest rates with a tenure ranging between 1 year and 10 years. You can add nominees to the account as well.

    Features of Bandhan Bank NRE Fixed Deposit

    The main features of the NRE Fixed Deposit account offered by Bandhan Bank are mentioned below:

    • Nominations can be added.
    • Loans can be availed against the balance that is available in the account.
    • Premature closure and partial withdrawal options are provided.
    • You have the option to choose between quarterly and monthly interest pay-outs.
    • Automatic renewal option is provided.
    • The minimum deposit that must be made is Rs.1,000.
    • The tenure of the scheme ranges between 1 year and 10 years.
    • Any interest that is earned does not come under the Income Tax Act.
    • The interest that is earned and the principal amount are completely repatriable.

    Eligibility Criteria

    Only NRI Savings Account holders can open the NRI Fixed Deposit account offered by Bandhan Bank. Indian citizens living outside India can open an account only for the below-mentioned purposes:

    • Business or vocation
    • Studies
    • Employment
    • Individuals who work on foreign registered airlines or oil rigs or are mariners
    • Individuals who work at a UN organisation

    Documents Required

    Individuals must have a foreign passport (apart from Bangladeshi and Pakistani) and must fulfil the below-mentioned criteria:

    • The individual’s grandparent or parent must have been an Indian citizen.
    • The individual must have had an Indian passport.

    Interest Rates for Deposits Less than Rs.2 crore

    Tenure Rate of Interest
    1 year – 18 months 5.75%
    18 months 1 day – Less than 2 years 5.75%
    2 years – Less than 3 years 5.75%
    3 years – Less than 5 years 5.50%
    5 years – Up to 10 years 5.75%

    Note: Bandhan Bank can change the interest rates at any given time without any prior notice. The above-mentioned interest rates are effective from 1 April 2021.

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