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    HDFC NRE Fixed Deposit

    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.

    Fixed deposit Reviews

    • 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? 3
      , noida
      Reviewed on Jan 09, 2019
    • HDFC Bank Fixed Deposit
      "Good service"
      0.5 4.0/5 "Great!"
      I do have a fixed deposit account with HDFC Bank. They are giving good interest. I can manage this account on line. I have chosen HDFC because of bank financial is good. I have just started long time, The process was very quick and it was done through on line.
      Was this review helpful? 4
      , thane
      Reviewed on Jan 02, 2019
    • HDFC Bank Fixed Deposit
      "Convenient FD with HDFC"
      0.5 5.0/5 "Blown Away!"
      In HDFC I can deposit for minimum of Rs. 5000 to max amount. I done the investment of one time payment around Rs.6 lakhs. I can chose the tenure period based on the convenient, it gives the interest of 7% its maximum. I can open and close the account through online.
      Was this review helpful? 6
      , pune
      Reviewed on Dec 17, 2018
    • HDFC Bank Fixed Deposit
      "Good Investment plan"
      0.5 5.0/5 "Blown Away!"
      I have taken the fixed deposit for my wife. I have purchased the plan with HDFC bank. I have chosen in the year of 2012. I have invested the fixed amount of Rs. 17 lakhs. They have offered me a interest rate of nominal amount. The service is HDFC is really good. Every year i have enhancing the interest rate for the fixed deposit.
      Was this review helpful? 0
      , chennai
      Reviewed on Nov 30, 2018
    • HDFC Bank Fixed Deposit
      "Good"
      0.5 5.0/5 "Blown Away!"
      I do have a fixed deposit account with HDFC Bank. They are giving good interest. I can manage this account online. I have chosen HDFC because of bank financial is good. I have just started recently and its a one time investment of 3L. The process was very quick and it was done through online.
      Was this review helpful? 1
      , noida
      Reviewed on Nov 27, 2018
    • HDFC Bank Fixed Deposit
      "Save money with very good interest rate"
      0.5 5.0/5 "Blown Away!"
      Currently HDFC is providing 7.5% of interest for FD account, I taken FD for the tenure of three years. I can deposit minimum to maximum amount, the customer service is very helpful related to the FD queries. I am getting message its very simple and beneficial.
      Was this review helpful? 0
      , new delhi
      Reviewed on Nov 24, 2018
    • 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 can also close this account without having to go in person to the bank. It can be done online too.
      Was this review helpful? 8
      , chennai
      Reviewed on Sep 15, 2018
    • HDFC Bank Fixed Deposit
      "Good service"
      0.5 4.0/5 "Great!"
      I had started making this investment almost a year back. The interest rate with them had changing according to the market rate. The services which they had been providing so far had been very good. Tenure with them also had been good and i make the deposits directly.
      Was this review helpful? 7
      , new delhi
      Reviewed on Jul 26, 2018
    • HDFC Bank Fixed Deposit
      "Good Service"
      0.5 4.0/5 "Great!"
      I've a fixed deposit with the HDFC bank for 1 Lakh, they offered an annual interest rate of 9.5% annual. They also offers special rates for Senior Citizen. Apart from the fixed deposit I hardly use the account. Overall their banking services are good.
      Was this review helpful? 29
      , chennai
      Reviewed on May 17, 2018
    • HDFC Bank Fixed Deposit
      "Good service"
      0.5 4.0/5 "Great!"
      I have a Fixed Deposit with HDFC bank from last 4 years, my experience was good so far and i did not face any issues with this bank. I have deposited a fixed amount of Rs 5-6 lakhs. When it comes to customer service, it is good and they gave all the right information. I get interest of 6% as returns and i am satisfied with it.
      Was this review helpful? 2
      , kolkata
      Reviewed on Mar 29, 2018
    • HDFC Bank Fixed Deposit
      "Good overall"
      0.5 5.0/5 "Blown Away!"
      I also bank with HDFC Bank for the fixed deposit. The customer services are good and there are no issues in the process. The lock in period is for a year. The interest rate is good and there are no charges. The experience has been good as I can track all the details on the mobile application.
      Was this review helpful? 2
      , bangalore
      Reviewed on Mar 24, 2018
    • HDFC Bank Fixed Deposit
      "Good overall"
      0.5 5.0/5 "Blown Away!"
      It was a smooth process to open a fixed deposit at HDFC Bank. There is a lock in period for one year. After which I can close the account. The rate of interest is normal like the other banks. There are no charges taken for this. Good services overall.
      Was this review helpful? 3
      , new delhi
      Reviewed on Feb 19, 2018
    • HDFC Bank Fixed Deposit
      "More than satisfactory"
      0.5 5.0/5 "Blown Away!"
      My fixed deposit account is with HDFC Bank and the rate of interest is of 6.5%. The customer services are good and the response is also satisfactory. They contact me on time when ever there is a query. I been a long time privilege customer and I am happy with the services.
      Was this review helpful? 1
      , mumbai
      Reviewed on Feb 09, 2018
    • HDFC Bank Fixed Deposit
      "Average"
      0.5 3.5/5 "Pretty good"
      I do have Fixed deposit account with the HDFC bank and the interest rate was around 7.5% and the customer service was an average one. I would like to say that the response was okay one for me with the HDFC bank and everything is good one too with them.
      Was this review helpful? 2
      , kolkata
      Reviewed on Feb 06, 2018
    • HDFC Bank Fixed Deposit
      "Easy to start and renew"
      0.5 4.5/5 "Excellent!"
      I had invested in FD with HDFC through net banking. The benefits what I get here are huge. It hardly takes about 5 minutes to open this deposit. Net banking and mobile app are very easy to use. I can see the FD summary online and also renew it online. Current Rate for 1 year FD is 6.75% per annum.
      Was this review helpful? 2
      , gurgaon
      Reviewed on Jan 28, 2018
    • HDFC Bank Fixed Deposit
      "Very Convenient "
      0.5 5.0/5 "Blown Away!"
      I have opened HDFC fixed deposit before eight months, I have deposited the amount for the period of one year. Then if I want I can renew it through online. They are providing 6.9% of interest for FD account, I could track FD through netbanking and phone banking.
      Was this review helpful? 0
      , gurgaon
      Reviewed on Jan 23, 2018
    • HDFC Bank Fixed Deposit
      "FD with HDFC"
      0.5 4.0/5 "Great!"
      I have opened a fixed deposit account with HDFC bank. They are providing good interest for fixed deposit. The interest rte is 6.75% annually. The duration for my FD is for 12 months. If i withdrew with in the duration then some charges will be applicable which is around 1 to 2% of the principal amount.
      Was this review helpful? 2
      , thane
      Reviewed on Dec 30, 2017
    • HDFC Bank Fixed Deposit
      "Better"
      0.5 4.0/5 "Great!"
      I had opened a Fixed Deposit account with HDFC Bank through online portal. Earlier they provided higher rate of interest now it was come down to 6.9%. Whenever I call the customer support they respond properly and IVR system is good. The net banking features are good.
      Was this review helpful? 0
      , navi mumbai
      Reviewed on Dec 29, 2017
    • HDFC Bank Fixed Deposit
      "Average service"
      0.5 3.0/5 "Satisfactory"
      I have a fixed deposit with Hdfc,the service was good. I use Hdfc fixed deposit online application which was easy to use still I use to visit their branch directly to deposit it has been 20 years I have taken the fixed deposit with Hdfc it was a fine experience with Hdfc fixed deposit service.
      Was this review helpful? 4
      , mumbai
      Reviewed on Dec 26, 2017
    • HDFC Bank Fixed Deposit
      "Excellent"
      0.5 4.5/5 "Excellent!"
      I am having the fixed deposit account with the HDFC bank and the online banking services are good one too. I am happy with the HDFC bank till now. Online banking services are really good one with the HDFC bank.
      Was this review helpful? 10
      , bangalore
      Reviewed on Dec 07, 2017
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