Bandhan Bank NRI Fixed Deposits
Bandhan Bank NRI Fixed Deposits let NRIs open an NRE Fixed Deposit in Indian Rupees at interest rates from 5.85% p.a. to 7.45% p.a. for tenures of 1 to 10 years. Interest earned is tax-free in India and both principal and interest are fully repatriable.
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 on fixed deposit does not come under the Income Tax Act.
- The interest that is earned and the principal amount are completely repatriable.
- Bandhan Bank offers competitive exchange rates when converting your foreign currency into Indian Rupees for the NRE Fixed Deposit.
- The minimum tenure for a Bandhan Bank NRE Fixed Deposit is 1 year; no interest is paid on withdrawal before completing 1 year, and a 1% penal interest rate applies to premature withdrawals made after that.
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.
NRE FD Rates for Deposits Less than Rs.3 crore
Tenure | General Public (p.a.) |
12 months | 7.00% |
12 months 1 day to 21 months | 7.00% |
21 months 1 day to less than 2 years | 7.00% |
2 years to less than 3 years | 7.45% |
3 years to less than 5 years | 7.25% |
5 years to up to 10 years | 5.85% |
Note: Interest rates are effective from 20 June 2026.
Summary
Bandhan Bank's NRE Fixed Deposit lets NRIs grow their overseas earnings in Indian Rupees, with tax-free interest and full repatriability of both principal and interest. NRI Savings Account holders can open this Bandhan Bank NRI Fixed Deposit for a tenure of 1 to 10 years, with flexible interest pay-out and premature withdrawal options. Check the rate table above for the latest Bandhan Bank NRI Fixed Deposit interest rates before you invest.
FAQs on Bandhan Bank NRI Fixed Deposits
1.What is the minimum deposit needed to open a Bandhan Bank NRI Fixed Deposit?
Bandhan Bank keeps the minimum deposit for its NRI Fixed Deposit (NRE FD) scheme low and accessible, with the exact amount listed in the Features section above. This makes it easy for NRIs to start an NRE Fixed Deposit with Bandhan Bank at a modest initial outlay.
2.What interest rate does Bandhan Bank offer on its NRI Fixed Deposit scheme?
Bandhan Bank's NRI Fixed Deposit (NRE FD) interest rates vary by tenure and are revised by the bank from time to time. The current rates for each tenure are listed in the NRE FD rate table above.
3. I do not have an existing NRI savings account with Bandhan Bank. Can I still open a Bandhan Bank NRI Fixed Deposit?
No, you need an existing NRI Savings Account with Bandhan Bank to open a Bandhan Bank NRI Fixed Deposit under this scheme. Applicants without one must first open an NRI Savings Account before applying for the NRE Fixed Deposit.
4.In which currency is a Bandhan Bank NRI Fixed Deposit held?
A Bandhan Bank NRI Fixed Deposit under the NRE scheme is held in Indian Rupees. Customers can deposit any foreign currency, which Bandhan Bank converts into Indian Rupees at the time of booking.
5.Is the interest earned on a Bandhan Bank NRI Fixed Deposit exempt from Indian income tax?
Yes, interest earned on a Bandhan Bank NRI Fixed Deposit under the NRE scheme is exempt from Indian Income Tax. Both the principal and the interest earned are also fully and freely repatriable.
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