NRE TERM DEPOSITS Interest rate on NRE Term Deposits with effect from 23rd July 2020

Period Single Deposit less than Rs.2 crore
1 year to less than 3 years
5.50%p.a
3 years to up to and including 10 years
5.60%p.a

Ø The revised rates will apply only to fresh deposits and on renewal of maturing deposits.
Ø No interest will be paid if closed within one year.
Ø No additional interest will be paid for Senior Citizens under NRE Term deposit schemes.
Ø   There is no premature closure penalty charge for NRE Term deposits less than Rs.2 crore