NRE TERM DEPOSITS Interest rate on NRE Term Deposits with effect from 11th April 2024

Period Single Deposit less than Rs.2 crore
1 year
1 year 1 day  7.00%p.a
1 year 2 days to 399 days 6.50%p.a
400 days  7.25%p.a
401 days to less than 30 Months 6.50%p.a
30 Months 7.00%p.a
Above 30 months to less than 5 years 6.70%p.a
5 years to less than 66 months 6.00%p.a
66 months (Green deposit) 6.50%p.a
Above 66 months to upto and including 10 years 6.00%p.a

  • The revised rates will apply only to fresh deposits and on renewal of maturing deposits.
  • No interest will be paid if closed within one year.
  • No additional interest will be paid for Senior Citizens under NRE Term deposit schemes.
  • Penalty for premature withdrawal and reinvestment will be applicable for Retail Rupee Term Deposits (including NRE & Recurring Deposits) opened/ renewed from 01.06.2022 at the rate of 0.50% for deposit amounts below Rs. 5 lakhs and 1% for deposit amounts of Rs. 5 lakhs and above. The effective rate will be the net of applicable rate to the amount and period for which the deposit remained with the bank (less the penal rate) or the net of original contracted rate (less penal rate) whichever is less