SBI NRI Fixed Deposit (FD)
The State Bank of India (SBI) offers a wide range of customized 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 15 July 2024. 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 Deposit Rates
Tenure | Rate of Interest for Deposits below Rs. 3 crore | Rate of Interest for Deposits worth Rs. 3 crore & above |
1 year to less than 2 years | 6.80% p.a. | 7.00% p.a. |
400 days (AMRIT KALASH) (Valid till 30 September 2024) | 7.10% p.a. | NA |
444 days (AMRIT VRISHTI) | 7.25% p.a. | NA |
2 years to less than 3 years | 7.00% p.a. | 7.00% p.a. |
3 years to less than 5 years | 6.75% p.a. | 6.50% p.a. |
5 years to 10 years | 6.50% p.a. | 6.25% p.a. |
Note: The interest rates mentioned in the table are effective 15 July 2024.
SBI NRO FD Rates
Tenure | Rate of Interest for Deposits below Rs. 3 crore | Rate of Interest for Deposits worth Rs. 3 crore & above |
7 days to 45 days | 3.50% p.a. | 5.25% p.a. |
46 days to 179 days | 5.50% p.a. | 6.25% p.a. |
180 days to 210 days | 6.25% p.a. | 6.60% p.a. |
211 days to less than 1 year | 6.50% p.a. | 6.75% p.a. |
1 year to less than 2 years | 6.80% p.a. | 7.00% p.a. |
400 days (AMRIT KALASH) (Valid till 30 September 2024) | 7.10% | NA |
444 days (AMRIT VRISHTI) | 7.25% p.a. | NA |
2 years to less than 3 years | 7.00% p.a. | 7.00% p.a. |
3 years to less than 5 years | 6.75% p.a. | 6.50% p.a. |
5 years and up to 10 years | 6.50% p.a. | 6.25% p.a. |
The interest rates are subject to change as per the discretion of the bank. Rates with effect from 15 July 2024.
Highest SBI NRI deposit rates
- NRE Deposits to 7.00% p.a. for tenure between 2 years to less than 3 years.
- NRO Deposits to 7.00% p.a. for a maturity period ranges between 2 years to less than 3 years.
Popular Bank's NRI FD Rates
- HDFC NRI FD Rates
- Axis Bank NRI FD Rates
- Indusind Bank NRI FD Rates
- CitiBank NRI FD Rates
- RBL Bank NRI FD Rates
- Standard Chartered NRI FD Rates
- Yes Bank NRI FD Rates
- HSBC NRI FD Rates
- Kotak Mahindra NRI FD Rates
- PNB NRI FD Rates
- Canara Bank NRI FD Rates
- IDBI Bank NRI FD Rates
- BOB NRI FD Rates
- BOI NRI FD Rates
- BOM NRI FD Rates
- Union Bank NRI FD Rates
- Indian Bank NRI FD Rates
- Karur Vysya Bank NRI FD Rates
- Central Bank NRI FD Rates
- Federal Bank NRI FD Rates
- TMB NRI FD Rates
- Bandhan Bank NRI FD Rates
- IDFC NRI FD Rates
FAQs on SBI NRI Fixed Deposit
- What is the difference between NRE and NRO accounts?
NRIs can open an NRE account if they wish to deposit their money in foreign currency. However, if they wish to make deposits in Indian currency, then they will be required to open an NRO account.
- Is it possible for me to change my tenure after opening an NRI fixed deposit account?
No, it will not be possible for you to change your tenure after opening an NRI fixed deposit account.
- I am an NRI. Can I avail a loan against FD?
Yes, you can avail a loan against your fixed deposit even if you are an NRI.
- I don't have a PAN Card. Can I still open a NRI FD account?
Yes, if you do not have a PAN Card, then you will have to submit Form 60 to open an NRI FD account.
- I am an NRI aged above 60 years. Will I get additional interest on my deposits?
No, you will not earn additional interest on your deposits even if you are an NRI senior citizen. People aged above 60 years and residing in India are eligible to receive additional interest on their deposits.
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