Request received - loud & clear!
Returning you to where you were...
A fixed deposit account is a financial service offered by most banks in the country for domestic citizens as well as Non-Resident Indians (NRIs).
NRIs have a number of fixed deposit options to choose from. There are majorly 4 types of fixed deposits which is offered by the bank for Non-Resident Indians. They are:
Bank | Tenure | Rate of return (p.a.) |
---|---|---|
HDFC Bank | 7 days to 10 years | 3.50% - 7.00% |
SBI Bank | 1 year to 10 years | 6.25% - 6.50% |
Axis Bank | 1 year to 10 years | 6.75% - 7.10% |
ICICI Bank | 7 days to 10 years | 4.00% - 7.10% |
Bank | Tenure | Rate of return (p.a.) |
---|---|---|
HDFC Bank | 7 days to 10 years | 3.50% - 7.00% |
SBI Bank | 7 days to 10 years | 4.50% - 6.25% |
Axis Bank | 7 days to 10 years | 3.50% - 7.10% |
ICICI Bank | 7 days to 10 years | 4.00% - 7.10% |
Bank | Tenure | Rate of return (p.a.) |
---|---|---|
HDFC Bank | 1 year to 5 years | 2.30% - 2.51% |
SBI Bank | 1 year to 5 years | 2.09% - 2.55% |
Axis Bank | 1 year to 5 years | 2.65% - 2.75% |
ICICI Bank | 1 year to 5 years | 1.84% - 2.55% |
Bank | Tenure | Rate of return (p.a.) |
---|---|---|
HDFC Bank | Less than 29 days – 3 years | 0.01% - 1.46% |
SBI Bank | 1 year – 3 years | 2.17% - 2.55% |
Axis Bank | 30 days - 5 years | 1.00% - 2.75% |
ICICI Bank | 30 days – 3 years | 1.92% - 2.38% |
Type/criteria | NRO FD | FCNR | NRO Tax Saver | NRE FD | RFC |
---|---|---|---|---|---|
Currency |
Indian rupee |
USD, GBP, JPY, Euro, CAD, SGP, AUD |
Indian rupee |
Indian rupee |
USD, JPY, Euro, GBP |
Repatriability |
Not fully repatriable |
Fully repatriable(Interest and principal) |
Not fully repatriable |
Not fully repatriable |
Repatriable on bonafide reasons |
Eligibility |
Person of Indian Origin/ Individual NRI |
Person of Indian Origin/ Individual NRI |
Person of Indian Origin/ Individual NRI |
Person of Indian Origin/ Individual NRI |
Person of Indian Origin/ Individual NRI |
Joint Account Facility |
Available |
Available |
Available |
Available |
Available |
Tax |
Interest might be subjected to tax |
No tax |
Interest might be subjected to tax |
No tax |
Exempted tax can be claimed |
Tenure |
1 year to 10 years |
1 year to 5 years |
Minimum of 5 years |
1 year to 10 years |
1 year to 10 years |
The process of opening an NRI fixed deposit account is a simple process. It can be done online as well as can be done in the branch of the bank, however, most investors prefer to do it online.
The interest rate that is paid is different for each type of term deposit account. This also varies with the duration of investment and amount deposited. Also, the rate paid by each bank vries based on a number of internal and external factors. As far as FCNR and RFC accounts are concerned the interest rate also varies along with the type of currency the account is held in.
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.
Gain an edge by connecting with us via email. We promise never to spam you.
Request received - loud & clear!
Returning you to where you were...
Psst... We'll ensure you're the very first to know the moment rates change.
We'll email you immediately! You snooze, you lose.