Cash lying idle in your bank account?
Invest as low as Rs. 1,000 in Mutual Funds and enjoy higher returns.
  • Loading your search...
    Close

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

  • SBI NRI Fixed Deposit is Rated as "Blown Away!" by 1 Users

    Fees & Charges

    Promised Interest Rate

    Customer Service

    Responsiveness

    Fixed Deposit BYTES FROM OUR KITCHEN

    SBI NRI Fixed Deposit

    The State Bank of India (SBI) offers a wide range of customised fixed deposit products for Non-Resident Indians (NRIs) to help them earn good returns while enjoying other benefits such as tax exemptions on certain FDs. The various types of schemes offered by SBI for NRIs include Non-Resident External (NRE) account, Non-Resident Ordinary (NRO) account, Foreign Currency Non-Repatriable (FCNR) account, and Resident Foreign Currency (RFC) account. NRIs can open NRE fixed deposit accounts, NRO fixed deposit accounts, RFC, and FCNR term deposits. SBI fixed deposit interest rates were revised on February 28, 2018. Interest rates changed for all deposit tenures and types, including for SBI NRI fixed deposits.

    Among the fixed deposits offered by SBI, the ones for NRIs include:

    SBI NRE Fixed Deposits

    NRE fixed deposits are offered for a certain fixed period of time at a specific rate of interest. SBI offers two types of fixed deposits for NRIs:

    Fixed deposits can be opened easily and interest on these schemes will be paid on a quarterly basis. Any interest earned from these types of deposits will not be taxed in India. The other types of NRE accounts include savings account, current account and recurring deposit account.

    Interest rates for SBI NRE FDs

    Time period Rate for less than Rs.1 crore (per annum) Rate for Rs.1 crore to Rs.10 crore (per annum)
    5 years to 10 years 6.50% 6.25%
    3 years to below 5 years 6.50% 6.65%
    2 years to below 3 years 6.50% 6.75%
    456 days to less than 2 years 6.40% 6.75%
    1 year to 455 days 6.40% 6.75%
    1 year 6.40% 6.75%

    *Interest rates are subject to change at regular intervals at the discretion of the bank.

    SBI NRE fixed deposit interest rate highlights

    • The interest rates offered are higher for NRE deposits of Rs.1 crore to 10 crore, where the rates range from 6.25% to 6.75%
    • For deposits that are of less than Rs.1 crore, the interest rates range from 6.40% to 6.50%
    • The best FD rate is 6.50% for tenures that range from 2 years to 10 years for less than Rs.1 crore and 6.75% for investments ranging from Rs.1 crore to Rs.10 crore

    SBI NRO Fixed Deposits

    NRO Fixed Deposits can be opened in Rupee denomination with a minimum deposit amount of Rs.1,000. Interest on these accounts is credited into the NRO savings account on a quarterly basis. However, one must note that the interest earned on these investments will be taxed. SBI offers NRO term deposits and NRO special term deposits.

    Interest rates for SBI NRO FDs

    Time period Rate for less than Rs.1 crore (per annum) Rate for Rs.1 crore to Rs.10 crore (per annum)
    5 years to 10 years 6.50% 6.25%
    3 years to 5 years 6.50% 6.65%
    2 years to below 3 years 6.50% 6.75%
    456 days to below 2 years 6.40% 6.75%
    More than 1 year to 455 days 6.40% 6.75%
    365 days 6.40% 6.75%
    211 days to below 1 year 6.40% 6.75%
    180 days to 210 days 6.35% 6.70%
    46 days to 179 days 6.25% 6.70%
    7 days to 45 days 5.75% 5.75%

    *Interest rates are subject to change at regular intervals based on the discretion of the bank.

    SBI NRO fixed deposit interest rate highlights

    • The rate of interest paid on deposits less than Rs.1 crore range from 5.75% to 6.50%
    • The interest range for NRO deposits worth Rs. 1 crore to Rs.10 crore range from 5.75% to 6.75%
    • The highest rate offered is 6.75% and 6.50%

    SBI FCNR Accounts

    An FCNR account is just like any other fixed deposit account, where a certain sum of money is invested for a specific period of time. The only difference here is that FCNR fixed deposits are maintained in foreign currencies. SBI offers FCNRs in all major currencies such as AUD, JPY, CAD, EURO, GBP and USD. SBI offers FCNR term deposits and FCNR special term deposits. The interest is computed once in 180 days.

    Interest rates for SBI FCNRs

    Tenure /currency USD GBP Euro CAD AUD JPY
    5 years 3.29% 1.90% 0.15% 2.45% 2.62% 0.05%
    4 years to below 5 years 3.25% 1.82% 0.10% 2.39% 2.51% 0.05%
    3 years to below 4 years 3.16% 1.71% 0.01% 2.31% 2.22% 0.05%
    2 years to below 3 years 3.04% 1.56% 0.01% 2.18% 2.06% 0.05%
    More than 1 year to below 2 years 3.09% 1.34% 0.01% 2.04% 1.91% 0.02%
    1 year 3.09% 1.34% 0.01% 2.04% 1.91% 0.02%

    SBI RFC Fixed Deposits

    RFC fixed deposits can be opened in major currencies such as USD, EURO, or GBP. The interest earned on these deposits will be paid in foreign currency. However, tax will be charged on interest earned. Deposits can be held for a time period ranging from 1 year to 3 years

    Interest rates for SBI RFCs

    Currency 1 year but less than 2 years (in %) 2 year but less than 3 years (in %) 3 years (in %)
    USD 3.09 3.04 3.16
    GBP 1.34 1.56 1.71
    EURO 0.01 0.01 0.01

    Updated on 22 Jul 2018

    Perfect Fixed Deposits Deals for you

    SBI NRI FD Rates Reviews

    • SBI Fixed Deposit
      "Okay"
      0.5 5.0/5 "Blown Away!"
      Fixed deposit with SBI bank is really a great experience for me because am holding both NRI and Indian accounts.The drawback like if I need to withdraw the cash more than 25k means I need to visit the home branch where I opened the account.The differentiate between NRI and Indian account could not be differentiate.
      Was this review helpful? 2
      , bangalore
      Reviewed on May 02, 2015
    Common Loader Icon
  • reTH65gcmBgCJ7k
    This Page is BLOCKED as it is using Iframes.