• Loading your search...
    Close

    Tell us about yourself & we'll find the best Fixed Deposit offers for you.

  • NRE Fixed Deposit

    Fees & Charges

    Promised Interest Rate

    Customer Service

    Responsiveness

    Fixed Deposit BYTES FROM OUR KITCHEN

    NRE Fixed Deposit

    A common question that is constantly heard on the lips of every NRI is how can they invest in Fixed Deposits (FDs) in the India? It is not a surprise to hear that question as FDs have been for long the favourite choice of investment in the country. With many people from the country now working and residing outside the country, Non Resident External (NRE) deposits have become quite popular. But what are NRE fixed deposits? NRE fixed deposits are similar to regular term deposits with NRIs using NRE accounts to open fixed deposits. The accounts can be opened by all NRIs and are virtually tax free.

    The Interest rates offered on NRE fixed deposit by banks for deposits less than Rs.1 crore are as follows: 

    Bank Interest rate range per annum for amount less than Rs.1 crore
    1 year More than 1 year to 3 years More than 3 years to 5 years More than 5 years to 10 years
    Union Bank of India 6.75% 6.50% 6.50% 6.50%
    Punjab National Bank 6.60% 6.75% 6.25% 6.25%
    Oriental Bank of Commerce 6.60% 6.50% - 6.60% 6.40% 6.40%
    Punjab and Sind Bank 6.60% 6.60% 6.55% NA
    IDBI bank 6.75% 6.25% - 6.50% 6 – 6.25% 6%
    Andhra Bank 4% - 6.50% 6.25% - 6.50% 6.25% 6.25%
    Canara Bank 6.50% 6.20% - 6.45% 6.20% 6%
    Indian Overseas Bank 4% - 6.75% 6.25% - 6.75% 6% 6%
    UCO bank 6.65% 6.50% - 6.65% 6.50% 6.35%
    Vijaya Bank 4% - 6.50% 6.50% - 6.60% 6.25% 6.25%
    Central Bank of India 5.25% 5% - 5.25% 5% 5%
    Allahabad Bank 6.60% 6.50% - 6.60% 6.50% 6.50%
    Syndicate Bank 6.75% 6.60% - 6.75% 6.50% - 6.60% 6.50%
    Bank of India 6.60% 6.30% - 6.60% 6.25% - 6.30% 6.25%
    Bank of Baroda 4.25% - 6.45% 6.50% - 6.55% 6.50% 6.25%
    Indian Bank 6.50% 6% - 6.25% 6% 6%
    Dena Bank 6.50% 6.25% - 6.50% 6.25% - 6.30% 6.30%
    State Bank of India 6.40% 6.40% - 6.50% 6.50% 6.50%
    Bank of Maharashtra 6.25% 6.25% 6% 6%
    Corporation Bank 6.50% 6.50% - 6.70% 6.50% 6.50%
    Lakshmi Vilas Bank 7.20% 7.20% 7.15% 7.15%
    Karur Vysya Bank 6.75% 7% 7% 7%
    DCB Bank 7% 7.25% 7.25% 7.20%
    Yes Bank 7% 7% 7% 7%
    South Indian Bank 6.75% 6.50% - 7.10% 6.50% 6.50%
    City Union Bank 7.10% 7.10% 7.10% 6.70%
    Federal Bank 6.70% 6.50% - 7.10% 6.50% 6.50%
    IndusInd Bank 7% 6.50% - 7% 6.50% 6.50%
    Axis Bank 6.75% 6.75% - 6.90% 6.90% 6.90%
    Tamilnad Merchantile Bank 6.90% 6.90% - 7% 6.90% 6.90%
    Kotak Bank 6.80% 6.50% - 6.80% 6.25% - 6.50% 6.25%
    J&K Bank 7% 6.25% - 7% 6.25% 6.25%
    Catholic Syrian Bank 6.50% 6.50% - 6.75% 6.50% 6.50%
    ICICI Bank 6.60% 6.50% - 6.75% 6.50% 6.50%
    Karnataka Bank 7.10% 6.50% - 7.25% 6.50% 6.50%
    Dhanalakshmi Bank 6.60% 6.50% - 6.60% 6.50% - 6.60% 6.50%
    Punjab & Maharashtra Co-operative Bank 7.50% 7.50% - 7.75% 7.25% 7%
    Bharat Co-operative Bank 7.35% - 7.60% 7.25% - 7.60% 7.25% - 7.50% 7.25% - 7.50%
    Bassein Merchantile Co-operative Bank 7.25% - 7.50% 7.25% - 7.50% 7% - 7.25% NA
    Thane Janata Sahakari Bank 6.25% 7.10% 7% 7%
    Shamrao Vithal Co-operative Bank 6.75% 6.75% - 7.15% 6.75% NA
    Zoroastrain Co-operative Bank 7% 7% 7% NA
    Saraswat Co-operative Bank 6.25% - 6.35% 6.75% 6.40% 6.40%
    Abhyudaya Co-operative Bank 6.75% 6.75% - 7% 7% 7%
    Bombay Merchantile Co-operative Bank 6.25% 6.25% 6% NA

    Eligibility criteria for NRE fixed deposits

    To open a NRE fixed deposits, one needs to fulfil the following criteria:

    • The individual needs to be a Non Resident Indian (NRE) or a Person of Indian Origin (POI)
    • They need to have NRE accounts

    Documents required to open NRE deposits

    To open an NRE deposit, an individual needs to submit documents like:

    • Passport
    • Valid work visa
    • Address proof

    Features of NRE deposits

    NRE deposits are laced with a variety of features. Some of them are mentioned below:

    • Money can be deposited in Indian rupees
    • The account can be closed at any time after they are opened
    • Offers flexible tenures that may range from 1 year to 10 years
    • Auto-renewal facilities are offered by banks where the FD renews itself once it matures.
    • Some banks may even allow loans against NRE deposits
    • Some banks allow up to 90% overdrafts on NRE deposits
    • Some banks also allow NRE deposits to be held jointly
    • Banks may even offer tax-saver fixed deposits to NRIs allowing them to claim tax benefits under Section 80C of the IT Act
    • Banks have stipulations about what the minimum and maximum amounts that one can deposit

    Interest rates offered on NRE deposits

    The interest rates offered on a Non Resident External deposit varies with the duration for which the deposit is opened. The rates offered by various banks can go up to 8% per annum or more.

    Benefits of NRE deposits

    When an individual opens an NRE fixed deposit, he/she is liable to avail certain benefits. Some of them are as follows:

    • Allows NRIs to open fixed deposits in India and earn  impressive interest.
    • They offer the depositors with ready funds when faced with an unforeseen circumstance as they can be closed prematurely.
    • With banks providing overdraft and loan facilities NRE deposits ensures that the depositors can have money as and when they need it.
    • The deposits offer nomination facility to the depositors

    NRE deposits have certain benefits but they have certain drawbacks as well. One of the biggest drawback a senior citizen might face with NRE deposits is that the special interest rate for senior citizens on all other deposits is not applicable on NRE ones.

    Nominee Vs Legal Heirs for Fixed Deposits Reviews

    • Corporation Bank Fixed Deposit
      "Average Service"
      0.5 3.0/5 "Satisfactory"
      I've a fixed deposit with the CORPORATION bank. The deposit is 50000 an they offers 9% annum. I've deposited for the five years. It was easy to start the deposit but I am not happy with their services as they don't provide any additional benefits to their customers.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jun 18, 2018
    • Citibank Fixed Deposit
      "Better"
      0.5 5.0/5 "Blown Away!"
      I do have the fixed deposit account with the CITI bank and the rate of interest was not aware by my end. I would like to say that the online services are good one with the CITI bank. I am happy with them as such.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jun 13, 2018
    • RBL Bank Fixed Deposit
      "Best"
      0.5 5.0/5 "Blown Away!"
      I am having the fixed deposit account with the RATNAKAR BANK limited and the interest rate is around 7.25%. The minimum tenure is around an year of time and there are no charges for locker, which made me really happy. I am really happy with the RBL.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Jun 12, 2018
    • SBI Fixed Deposit
      "Good Service"
      0.5 3.0/5 "Satisfactory"
      I've Fixed deposit with the SBI, I deposited 50000. It was so easy to start a fixed deposit with them. 2 years. For senior citizen they offers 7% interest rate which is very low. They also provided me with a credit card with the FD which was also good.
      Was this review helpful? 0
      , chennai
      Reviewed on Jun 11, 2018
    • ICICI Bank Fixed Deposit
      "Excellent"
      0.5 4.0/5 "Great!"
      I have the fixed deposit account with the ICICI bank and the response is good. I would like to say that the customer service is good one and the minimum tenure starts from seven days to fifteen days of time. I am happy with the ICICI bank.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jun 07, 2018
    • review Fixed Deposit
      "Good service"
      0.5 4.0/5 "Great!"
      The benefits are good from the RELIANCE company mutual funds , the investment has better turn over and it is called benefit to reduce the tax. I hold the mutual funds from the reliance for more than a year and I would say it is good to have the mutual fund with the RELIANCE company.
      Was this review helpful? 0
      , lucknow
      Reviewed on Jun 01, 2018
    • SBI Fixed Deposit
      "Good Service"
      0.5 2.0/5 "Expected more"
      I've a fixed deposit with the SBI. I deposited 60000 . I also got a credit card as a part of this fixed deposit.I never had any issues with the deposit. The deposit was opened with out any questions asked, they also give an annual interest for this deposit.
      Was this review helpful? 0
      , mumbai
      Reviewed on May 25, 2018
    • ICICI Bank Fixed Deposit
      "Best Service"
      0.5 5.0/5 "Blown Away!"
      I have a Fixed Deposit with ICICI bank from last 15 years, my experience was good so far and i did not face any issues with this bank. I have taken this FD mainly for auto debit of the home loan. Customer service is good and they explained all the terms and conditions
      Was this review helpful? 0
      , coimbatore
      Reviewed on May 24, 2018
    • SBI Fixed Deposit
      "Good Service"
      0.5 4.0/5 "Great!"
      I've a savings account with SBI. I started a Fixed Deposit with them. I started the FD for tax saving purposes. They do charge some normal annual interest rates of fixed deposit also I had never experienced any difficulty with their services.
      Was this review helpful? 0
      , chennai
      Reviewed on May 21, 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? 0
      , chennai
      Reviewed on May 17, 2018
    • Axis Bank Fixed Deposit
      "Good service"
      0.5 4.0/5 "Great!"
      I have a Fixed Deposit with AXIS bank from last 3 months, i am happy with the service they provide. I get good returns on investments. Customer service was very good, they gave all the right information and guided me well. I will get 6.99% on returns after the maturity period.
      Was this review helpful? 0
      , ahmedabad
      Reviewed on May 08, 2018
    • SBI Fixed Deposit
      "Average"
      0.5 3.0/5 "Satisfactory"
      State Bank Of India fixed deposit service is good. But I am not much comfortable with State Bank Of India process. State Bank Of Indiaonline portal is good, even the payments are through online. It was an average service from Sbi fixed deposit service.
      Was this review helpful? 0
      , pune
      Reviewed on Apr 25, 2018
    • Citibank Fixed Deposit
      "Excellent"
      0.5 5.0/5 "Blown Away!"
      I have a Fixed deposit with Citi bank. I recently started using Citi online net banking which is good. The online application for my Citi fixed deposit account is good. The process was been fast with Citi bank. It was an excellent experience with Citi bank savings account service.
      Was this review helpful? 0
      , pune
      Reviewed on Apr 25, 2018
    • SBI Fixed Deposit
      "Best Service"
      0.5 5.0/5 "Blown Away!"
      I have opened an Fixed Deposit account with SBI 3-4 years back, the services provided by this bank is good when compared to other banks. I invest 5000-6000 every month. I get 7.5% as an interest on returns. Customer support team guided me well and they gave all right information.
      Was this review helpful? 0
      , ahmedabad
      Reviewed on Apr 20, 2018
    • SBI Fixed Deposit
      "Fixed deposit with SBI"
      0.5 4.5/5 "Excellent!"
      I have opened a fixed deposit with SBI and the rate of interest is 7.75% annually. If i fore close the Fixed deposit then the interest will be adjusted against the amount on pro rate basis. The customer service and response with them is much comfortable.
      Was this review helpful? 0
      , chennai
      Reviewed on Apr 20, 2018
    • ICICI Bank Fixed Deposit
      "Excellent service"
      0.5 4.0/5 "Great!"
      Got the Fixed deposit account around 4 years ago from the ICICI bank and I have this account for the safety purpose . The customer support service and the response is good with the ICICI bank and they give good response to the customers. The rate of interest is good from the ICICI bank FD.
      Was this review helpful? 0
      , visakhapatnam
      Reviewed on Apr 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? 0
      , 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? 0
      , bangalore
      Reviewed on Mar 24, 2018
    • SBI Fixed Deposit
      "Satisfied"
      0.5 5.0/5 "Blown Away!"
      I hold a fixed deposit account with State Bank of India. I had to go to branch and open this account. The services are good and they were responsive. The rate of interest is good and there are no charges involved. Overall a good experience in the process.
      Was this review helpful? 0
      , secunderabad
      Reviewed on Mar 20, 2018
    • ICICI Bank Fixed Deposit
      "Good service"
      0.5 5.0/5 "Blown Away!"
      I have got the fixed deposit from the ICICI bank. The customer support service is good with the ICICI bank. The rate of interest and the charges is average with the ICICI bank fixed deposit and I am satisfied with it, I got the salaried account from the ICICI so I have got the fixed deposit from the ICICI bank.
      Was this review helpful? 0
      , bangalore
      Reviewed on Mar 12, 2018
    Common Loader Icon
  • reTH65gcmBgCJ7k
    This Page is BLOCKED as it is using Iframes.