A Non to Resident Indian (NRI) can apply for a Term Deposit or Fixed Deposit scheme (FD) through the Indian Bank. This bank offers FDs for NRIs in the following variants.
The following table enlists the Indian Bank Non-Resident External Deposit rates*:
Tenure Bracket | Less than Rs.3 crore |
7 days to 14 days | 2.80% |
15 days to 29 days | 2.80% |
30 days to 45 days | 3.00% |
46 days to 90 days | 3.25% |
91 days to 120 days | 3.50% |
121 days to 180 days | 3.85% |
181 days to less than 9 months | 4.50% |
9 months to less than 1 year | 4.75% |
300 days (Ind Supreme Product) **Valid up to 30.09.2024 | 7.05% |
1 year | 6.10% |
400 days (Ind Super Product) **Valid up to 30.09.2024 | 7.25% |
Above 1 year to less than 2 years | 7.10% |
2 years to less than 3 years | 6.70% |
3 years to less than 5 years | 6.25% |
5 years | 6.25% |
Above 5 years | 6.10% |
Note: The Indian Bank NRE FD interest rates are subject to change as per the discretion of the bank. The given rates are valid as of 12 June 2024.
Period | Callable | Non- Callable |
7 days to 14 days | 5.00% | 5.00% |
15 days to 29 days | 5.00% | 5.00% |
30 days to 45 days | 6.00% | 6.00% |
46 days to 90 days | 5.25% | 5.25% |
91 days to 120 days | 5.25% | 5.25% |
121 days to 180 days | 5.50% | 5.50% |
181 days to less than 9 months | 5.50% | 5.50% |
9 months to less than 1 year | 6.25% | 6.25% |
1 year | 6.70% | 6.70% |
Above 1 year to less than 2 years | 6.65% | 6.65% |
2 years to less than 3 years | 6.10% | 6.10% |
3 years to less than 5 years | 6.00% | 6.00% |
5 year | 6.00 | 6.00 |
Above 5 years | 6.00% | 6.00% |
Note: The Indian Bank NRE FD interest rates are subject to change as per the discretion of the bank. The given rates are valid as of 12 June 2024.
The minimum tenure of the NRE FD offered by Indian Bank is 1 year.
The minimum tenure of the NRE FD offered by Indian Bank is 10 years.
Yes, you can avail a loan against the amount that is available in the NRE FD account.
Yes, Indian residents can be appointed by NRIs to operate the account.
Yes, Indian Bank offers the facility to add nominees to the account. However, the nominee must be a resident abroad or in India.
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