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  • HDFC NRE Fixed Deposit

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  • HDFC offers a wide range of Non-Resident External (NRE) accounts that come with different tenure options and competitive interest rates. These types of term deposits can be held by all Non-Resident Indians (NRIs) and people of Indian origin. The different types of accounts offered by HDFC are NRE Savings Account, NRE Fixed Deposit Account, NRE Current Account, and NRE Tax Saver Fixed Deposit. All NRE accounts can be opened online at the click of a button.

    NRE Fixed Deposit Account

    All HDFC NRE Fixed Deposit accounts can be maintained in Indian currency and are fully repatriable, both on the principal and interest amount. The minimum period for which one should hold an NRE account is 7 days, while the maximum period is 10 years. These types of deposits are a boon to NRIs because the interest earned along with the principal amount is exempt from tax. A wide range of other benefits are also provided, such as nomination facility, loan and overdraft facility upto 90%, etc. One can also vail overdraft facility for others and partial withdrawal of the deposit will be allowed.

    In order to deposit funds in the respective NRE account, the customer can:

    • Make a fund transfer from a foreign bank or location
    • Deposit money, both foreign and Indian currency
    • Deposit a cheque. All travelers cheques will be accepted.
    • Direct remittance
    • Fund transfer from other NRI banks accounts in India

    Interest Rates on NRE Fixed Deposits

    Tenure Interest Rate for Investment less than Rs. 1 crore (in %) Interest Rate for Investment from Rs.1 crore to less than 5 crore (in %)
    7 days to 14 days 3.50% 4.25%
    15 to 29 days 4.25% 4.25%
    30 to 45 days 5.50% 4.25%
    46 to 60 days 5.75% 4.50%
    61 to 90 days 5.75% 4.50%
    91 days to 6 months 5.75% 6.05%
    6 months 1 day to 6 months 3 days 6.00% 5.25%
    6 months 4 days 6.00% 6.25%
    6 months 5 days to 9 months 6.00% 5.25%
    9 months 1 day to 9 months 3 days 6.00% 5.25%
    9 months 4 days 6.00% 6.25%
    9 months 5 days to 9 months 15 days 6.00% 5.25%
    9 months 16 days 6.25% 5.25%
    9 months 17 days < 1 Year 6.25% 5.25%
    1 Year 6.80% 6.50%
    1 year 1 day to 1 year 3 days 6.80% 4.90%
    1 year 4 days 6.25% 6.50%
    1 year 5 days to 1 Year 15 Days 6.25% 5.00%
    1 Year 16 days 6.25% 5.00%
    1 year 17 days to 2 Years 6.25% 5.00%
    2 years 1day to 2 Years 15 days 6.00% 4.85%
    2 Years 16 days 6.00% 4.85%
    2 years 17 days to 3 Years 6.00% 4.85%
    3 years 1day to 5 years 6.00% 4.85%
    5 Years 1 Day to 8 Years 6.00% 4.85%
    8 Years 1 Day to 10 Years 6.00% 4.85%

    *Please note that interest rates are subject to change without prior notice. This is at the discretion of the bank.

    The interest rates offered range from 3.5% to 6.80% on all deposits less than Rs.1 crore. Foe deposits of Rs.1 crore to less than 5 crore, the interest rates offered range from 4.25% to 6.50%.

    The highest paying deposits are for less than Rs.1 crore is for with a tenure that ranges from 1 year to 1 year and 3 days, where the rate of interest paid is 6.80%. For deposits of Rs.1 crore to less than 5 crore, interest is paid at the rate is 6.50% for 1 year.

    Features and Benefits of NRE Fixed Deposit Account

    • Tax exemption applicable
    • Good rate of return on investment
    • Minimal documentation to open account
    • All paperless, online transactions
    • Hassle-free account opening
    • Highly liquid investment

    FAQs

    1. What is an NRE Fixed Deposit account?

      An NRE Fixed Deposit account is just like any other term deposit account. The only difference is that this is specifically for NRIs or those of INdian origin.

    2. Is it possible to transfer funds from an NRO or FCNR account to an NRE account?

      No. This will not be possible.

    3. What are the tax charges that have to be paid for NRE accounts?

      All NRE accounts are exempt from tax as per the rules in India.

    4. Is it possible to hold a joint NRE Fixed Deposit account?

      Yes, an NRE Fixed Deposit account can be held jointly with another NRI.

    5. What are the interest rates provided on NRE Fixed Deposit accounts?

      The interest rates offered will change from time to time, usually on a monthly basis. For more details on current interest rates, please refer to the HDFC website.

    6. What is the currency denomination for NRE accounts?

      NRE accounts can be maintained in Indian currency.

    7. How is interest paid to the account holder?

      The interest earned these this type of term deposit is paid on a quarterly basis.

    8. Is it allowed to withdraw the deposit amount before the maturity period?

      All customers can withdraw the deposit amount subject to terms and conditions of the bank.

    9. Are loans provided on NRE Fixed Deposit?

      Yes. Both loans and overdraft facility can be availed by all customers. The loan amount can be used to start a new business or to meet other personal financial needs. The loan cannot be used to fund any kind of plantation, agricultural or real estate business activities.

    10. Is there an auto renewal facility?

      Yes. All NRE deposits will be automatically renewed unless otherwise mentioned.

    11. 11. Will a debit card or cheque book be issued for an NRE fixed deposit account?

      There will be no cheque books or debit cards issued on these term deposits.

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    Fixed deposit Reviews

    • HDFC Bank Fixed Deposit
      "GOOD"
      0.5 4.0/5 "Great!"
      To open the account with HDFC BANK is good and simple which is easy also quick process. They are providing with the good rate of interest with the bank. The online banking i am using it is simple and easy also it is good to use. The overall service is good.
      Was this review helpful? 0
      , kolkata
      Reviewed on Jul 17, 2019
    • HDFC Bank
      HDFC Bank Fixed Deposit
      "Its satisfactory"
      0.5 4.0/5 "Great!"
      HDFC fixed deposit interest rate is very competitive as like other banks. I have activated the tenure period of one year. The online banking is convenient to manage my all investment, I can access all the information through netbanking without visiting to the bank.
      Was this review helpful? 3
      , bangalore
      Reviewed on Jun 30, 2019
    • HDFC Bank Fixed Deposit
      "Userfriendly Experience"
      0.5 4.0/5 "Great!"
      HDFC Bank FD is providing 7% of interest per annum, I can invest maximum of Rs.1.5 lakhs for under tax coverage. The tenure period get extend automatically after the maturity, for the tax saving FD there is five years of limit . I can deposit and withdraw the liquidity through online.
      Was this review helpful? 1
      , bangalore
      Reviewed on Jun 29, 2019
    • HDFC Bank Fixed Deposit
      "Good"
      0.5 4.0/5 "Great!"
      I done a Fixed Deposit account with HDFC BANK before 2 years and the rate of interest was good. I have withdrawn the money and its neither loss or nor profit. My money is safer and return is very low. There was no locking period and the executive is supportive.
      Was this review helpful? 4
      , mumbai
      Reviewed on May 30, 2019
    • HDFC Bank Fixed Deposit
      "Its Good"
      0.5 5.0/5 "Blown Away!"
      I had fixed deposit in HDFC for the amount of Rs.10,000 then I withdrawn in two months I got some interest. I went to the bank for account opening within few minutes they helped to open the account. There is no charges for pre matured liquidity fund.
      Was this review helpful? 4
      , hyderabad
      Reviewed on May 25, 2019
    • HDFC Bank Fixed Deposit
      "Good Returns from HDFC"
      0.5 4.0/5 "Great!"
      As per the guidance , I taken a Fixed Deposit in HDFC . This is one year plan and worth enough to take this plan in HDFC comparing with the interest rate . I am really happy with the better returns for my FD . I thought of continuing after one year also .
      Was this review helpful? 6
      , hyderabad
      Reviewed on May 13, 2019
    • HDFC Bank Fixed Deposit
      "Good Service"
      0.5 5.0/5 "Blown Away!"
      I am using HDFC Bank Fixed Deposit for the past 6 years ,using net banking is also good ,customer service is good .flexy deposit ,whenever required can take the amount and can deposit it later .There was no issues faced so far .The Banking service is good to me so far.I am satisifed with the banking service.
      Was this review helpful? 5
      , chennai
      Reviewed on May 13, 2019
    • HDFC Bank Fixed Deposit
      "Very much convenient"
      0.5 5.0/5 "Blown Away!"
      My all time favorite is Fixed Deposit which is secured and I can count the returns on evey month which am most comfortable. My family all have them are having in HDFC account, the manager is very friendly and rendering the service. Am doing investment since 2011 and their services are more good than the profit.
      Was this review helpful? 1
      , hyderabad
      Reviewed on May 12, 2019
    • HDFC Bank Fixed Deposit
      "Userfriendly FD experience"
      0.5 4.0/5 "Great!"
      I do have fixed deposit with HDFC, I opened it through online there is no locking period, while opening I have specified the maturity date. Minimum deposit start from Rs. 5000, they are providing 7.3% per annum. Its safe and secured to invest money with HDFC.
      Was this review helpful? 3
      , bangalore
      Reviewed on May 03, 2019
    • HDFC Bank Fixed Deposit
      "Flexible Fixed deposit"
      0.5 5.0/5 "Blown Away!"
      HDFC Is more convenient to open and close the FD through online, they give better interest as per the RBI around 6.8%. The online portal is easy to track the fixed deposit details, the help desk is good to handle the queries. I am very much happy with HDFC. I can take the tenure from three months to max tenure.
      Was this review helpful? 1
      , delhi
      Reviewed on Apr 29, 2019
    • HDFC Bank Fixed Deposit
      "Satisfied with the service"
      0.5 5.0/5 "Blown Away!"
      I have a fixed deposit account with HDFC Bank and the banking process is good. I could open this account online and the account has been beneficial too. I earn a good interest. I can also close this account without having to go in person to the bank. It can be done online too.
      Was this review helpful? 2
      , bangalore
      Reviewed on Apr 26, 2019
    • HDFC Bank Fixed Deposit
      "Good Service I am getting"
      0.5 3.5/5 "Pretty good"
      I normal deposit a cash of either 10 or 15 k in my fixed deposit because I don't have much surplus cash . Nowadays just for the name sake depositing my money in FD . Though they provide very less returns but the guarantee of getting the money back is sure .
      Was this review helpful? 1
      , hyderabad
      Reviewed on Apr 23, 2019
    • HDFC Bank Fixed Deposit
      "Excellent services"
      0.5 4.5/5 "Excellent!"
      The best bank for a fixed deposit is HDFC Bank. The customer support is good and they are responsive as well. They offer an interest like other bank on my savings. The best is there is no lock in period so I close this account when ever I want too and I can do it with just a click away online. Where as other banks they would ask me to go to the home branch.
      Was this review helpful? 4
      , new delhi
      Reviewed on Apr 16, 2019
    • HDFC Bank Fixed Deposit
      "Its Good"
      0.5 4.0/5 "Great!"
      I went to the bank for the FD process, the service was good they helped to open the account on the same day. I took the fixed deposit for the period of three years and I deposited Rs. 1 lakh, I would get the amount of Rs. 1.35 lakh. I do have HDFC online access .
      Was this review helpful? 4
      , hyderabad
      Reviewed on Apr 03, 2019
    • HDFC Bank Fixed Deposit
      "Good overall"
      0.5 5.0/5 "Blown Away!"
      I have a fixed deposit account with HDFC Bank and the banking process is good. I could open this account online and the account has been beneficial too. I earn a good interest. I can also close this account without having to go in person to the bank. It can be done online too.
      Was this review helpful? 4
      , bangalore
      Reviewed on Mar 29, 2019
    • HDFC Bank Fixed Deposit
      "Very Good Service"
      0.5 4.0/5 "Great!"
      I had just started this investment couple of months back and the services which they had provided has been good. I had started this investment through one of the brokerage nearby. Their customer support has been helpful and has been guiding me through out and the interest rate which they are offering has also been quite good.
      Was this review helpful? 5
      , new delhi
      Reviewed on Mar 03, 2019
    • HDFC Bank Fixed Deposit
      "Good"
      0.5 4.5/5 "Excellent!"
      I have a fixed deposit with HDFC which was started 2 years back. I have chosen it mainly for the interest rate and also its convenient to open this account online also am a salary account holder. The locking period is 5 years. I never faced issues with the customer service. They need an improvement on interest rate because I think it could be better.
      Was this review helpful? 6
      , bangalore
      Reviewed on Feb 01, 2019
    • HDFC Bank Fixed Deposit
      "Good investment"
      0.5 5.0/5 "Blown Away!"
      I have invested in the fixed deposit for the amount of Rs. 1 lakh for 10 years, the interest rate is around 9% per annum. I went to the bank and opened the FD, there is no charges for pre matured withdrawal. The executive explained each benefits of the FD.
      Was this review helpful? 8
      , bangalore
      Reviewed on Jan 24, 2019
    • HDFC Bank Fixed Deposit
      "Good Investment plan"
      0.5 4.0/5 "Great!"
      I have taken Fixed deposit account from HDFC bank where am getting good benefits from them . There is no charges for the account . Where they are giving good rate of interest i have chosen long term investment plan.Overall am satisfied with the service and response .
      Was this review helpful? 5
      , ahmedabad
      Reviewed on Jan 23, 2019
    • HDFC Bank Fixed Deposit
      "Hassle free"
      0.5 5.0/5 "Blown Away!"
      I also have a fixed deposit account with HDFC Bank. The process to open this account is easy. I can do it online. They also offer a good rate of interest on the account. The bank has always been up to the mark to ban with. It is very convenient and easy.
      Was this review helpful? 8
      , noida
      Reviewed on Jan 09, 2019
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