A NRE Term Deposit allows you to earn high rate of interest on your rupee investments

  • Can be opened with
    • direct remittance from abroad
    • transfer from existing NRE, FCNR(B) accounts
    • foreign currency note, travellers cheque tendered personally by NRIs during their visit to India. 
  • Joint accounts are permitted.
  • Repatriation of credit balance permitted.
  • No Income tax deduction at source on interest
  • Balance is exempt from wealth tax and interest earned is exempt from Income Tax.
  • Loans can be availed against security of NRE Term Deposit.