• Karur Vysya Bank NRO/NRE/FCNR FD Rates

    Karur Vysya Bank offers non-resident Indians (NRIs) the facility of opening fixed deposit accounts in the bank. The facility is offered in the form of NRO, NRE, and FCNR deposits. The NRIs can open a deposit account for a period that ranges between 7 days and 10 years. The interest offered by the lender starts at 3.50% per annum.

    Karur Vysya Bank NRE FD Rates

    The interest rate offered on NRE fixed deposit rates by Karur Vysya Bank are listed in the table below:

    Tenure Interest rate (% p.a.)
    12 months to less than 24 months 5.50
    24 months to less than 36 months 5.50
    36 months to less than 60 months 5.65
    60 months and above 5.75

    Note: Karur Vysya Bank NRE FD rates are effective 11 January 2021. It must be noted here that the rates are subject to change as per the discretion of the bank.

    Karur Vysya Bank NRO FD Rates

    For opening a NRO fixed deposit account, the interest rate offered on deposits below Rs.2 crore are mentioned in the table below:

    Tenure Interest rate (% p.a.)
    7 days to 14 days 3.50
    15 days to 90 days 3.75
    91 days to 120 days 4.00
    121 days to 270 days 4.75
    271 days to less than 12 months 5.00
    12 months to less than 36 months 5.50
    36 months to less than 60 months 5.65
    60 months and above 5.75
    KVB – Tax Shield 6.00

    Note: Karur Vysya Bank NRO FD rates are effective 11 January 2021. It must be noted here that the rates are subject to change as per the discretion of the bank.

    Highest Karur Vysya Bank NRO deposit rates

    The highest interest rate offered by Karur Vysya Bank on opening a NRO FD account is 5.75% p.a. It is offered on a tenure of 60 months and above.

    Karur Vysya Bank FCNR Deposit Rates

    The interest rates for FCNR term deposit are provided below:

    Tenure Interest rates (per annum)
    USD GBP EUR JPY CAD AUD
    12 months to less than 24 months 1.48 0.76 0.49 0.71 1.19 0.57
    24 months to less than 36 months 1.33 0.78 0.48 0.71 1.02 0.62
    36 months to less than 48 months 1.64 0.60 0.49 0.71 1.37 0.76
    48 months to less than 60 months 1.60 0.65 0.52 0.72 1.49 0.76
    60 months 1.70 0.69 0.54 0.72 1.60 0.76

    Note: Karur Vysya Bank FCNR rates are effective from 1 January 2021 to 31 January 2021. It must be noted here that the rates are subject to change as per the discretion of the bank.

    FAQs on Karur Vysya Bank NRE/NRO/FCNR FD Rates

    1. Is the interest earned on NRE term deposits taxable?
    2. The interest earned on NRE term deposits is non-taxable.

    3. Can I avail a loan against a NRO fixed deposit? If yes, how much can I get?
    4. You can avail a loan against a NRO fixed deposit. There is the option of availing up to 90 percent of the deposit amount.

    5. What is the maximum repatriable amount for NRO FDs?
    6. The maximum repatriable amount for NRO FDs is 1 million US dollars.

    7. What is the maximum tenure for NRE, NRO, and FCNR term deposits?
    8. The maximum tenure for NRE and NRO term deposits is 10 years while for FCNR term deposits it is 5 years.

    9. When it comes to FCNR fixed deposits, is both interest and principal repatriable?
    10. Yes, both interest and principal is repatriable when it comes to FCNR deposits.

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