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:
|Tenure bracket||Up to Rs.2 crore||Rs.2 crore to Rs.5 crore|
|12 months 1 day to 24 months||5.10%||3.25%|
|24 months to 36 months||5.10%||3.25%|
|36 months to 60 months||5.25%||3.25%|
|Above 60 months||5.15%||3.25%|
*The Indian Bank NRE FD rates tend to change at the discretion of the bank. The rates given here are effective as of 1 April 2021.
|1 to 2 years (%)||2 to 3 years (%)||3 to 4 years (%)||4 to 5 years (%)||Only 5 years|
*The Indian Bank FCNR (B) Fixed Deposit rates tend to change at the discretion of the bank. The rates given here are effective as of 1 April 2021
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.
Display of any trademarks, tradenames, logos and other subject matters of intellectual property belong to their respective intellectual property owners. Display of such IP along with the related product information does not imply BankBazaar's partnership with the owner of the Intellectual Property or issuer/manufacturer of such products.