NRI Schemes
(A) RATE OF INTEREST ON NON-RESIDENT EXTERNAL (NRE) TERM DEPOSITS
i) For Term Deposits less than Rs. 1.00 Crore w.e.f. 10.04.2018
| 01 |
1 year |
6.50% |
| 02 |
More than 1 Year but upto 2 Year |
6.50% |
| 03 |
Above 2 year and upto 3 Year |
6.40% |
| 04 |
Above 3 year and less than 5 year |
6.40% |
| 05 |
5 year and Above |
6.40% |
ii) For Term Deposits Rs. 1.00 Crore and above upto & including Rs. 5.00 Crores w.e.f 07.04.2017.
T&I: MUM : NRETDR: 01: 2017-18
| 01 |
1 year & above but less than 2 years |
4.75 |
| 02 |
2 year & above but less than 3 years |
4.75 |
| 03 |
3 year & above but less than 5 years |
4.75 |
| 04 |
5 Years & above |
4.75 |
- All Zonal Offices are requested to note the above mentioned interest rates for Bulk NRE Term deposit of Rs. 1 Crore and above upto & including Rs. 5 Crore are effective from 07.04.2017.
- The above card rates are valid for single deposits (Fresh & Renewal).
- No cash deposits to be accepted.
- For premature closure penal charges shall be 2% less than applicable rate for which the term deposit of 1.00 Crore and above upto Rs. 5.00 Crore was held by the branch as on the date of deposit or the present rate as on the date of premature closure whichever is lower.
- Under no circumstances branches are allowed to quote beyond the rates mentioned supra. Zonal offices and Circle offices are requested to ensure strict compliance.
- Branches are advised to meticulously follow Policy on Accepting Bulk Deposits & Granting Loans/Advances against Bulk Deposit (circulated vide Ref No. CHO/IW/42/2015-16 dated 05-01-2016)
iii) For Term Deposits above Rs. 5.00 Crores w.e.f. 07.04.2017
T&I: MUM : NRETDR: 02: 2017-18
| 01. |
1 year & above but less than 2 years |
4.75 |
| 02. |
2 Years & above but less than 3 Years |
4.75 |
| 03. |
3 years & above but less than 5 Years |
4.75 |
| 04. |
5 Years & above |
4.75 |
- All Zonal Offices are requested to note the above mentioned interest rates for Bulk NRE Term deposit of Rs. 1 Crore and above upto & including Rs. 5 Crore are effective from 07.04.2017.
- The above card rates are valid for single deposits (Fresh & Renewal).
- No cash deposits to be accepted.
- For premature closure penal charges shall be 2% less than applicable rate for which the term deposit of 1.00 Crore and above upto Rs. 5.00 Crore was held by the branch as on the date of deposit or the present rate as on the date of premature closure whichever is lower.
- Under no circumstances branches are allowed to quote beyond the rates mentioned supra. Zonal offices and Circle offices are requested to ensure strict compliance.
- Branches are advised to meticulously follow Policy on Accepting Bulk Deposits & Granting Loans/Advances against Bulk Deposit (circulated vide Ref No. CHO/IW/42/2015-16 dated 05-01-2016)
(B) RATE OF INTEREST ON NON-RESIDENT ORDINARY (NRO) TERM DEPOSITS
(C) RATE OF INTEREST ON FCNR (B) DEPOSITS (With effect from 10-04-2018)
| Currency |
ROI |
Yield* |
ROI |
Yield* |
ROI |
Yield* |
ROI |
Yield* |
ROI |
Yield* |
| USD |
(%) |
2.15
|
2.21
|
2.30
|
2.40
|
2.40
|
2.54
|
2.50
|
2.68
|
2.60
|
2.80
|
| GBP |
(%) |
0.69
|
0.70
|
0.90
|
0.92
|
1.04
|
1.07
|
1.15
|
1.19
|
1.27
|
1.32
|
| EUR |
(%) |
0.00
|
0.00
|
0.00
|
0.00
|
0.00
|
0.00
|
0.04
|
0.04
|
0.28
|
0.29
|
| JPY |
(%) |
0.00
|
0.00
|
0.00
|
0.00
|
0.00
|
0.00
|
0.00
|
0.00
|
0.01
|
0.01
|
| CAD |
(%) |
1.86
|
1.91
|
2.01
|
2.09
|
2.14
|
2.26
|
2.24
|
2.39
|
2.34
|
2.51
|
| AUD |
(%) |
1.72
|
1.77
|
1.83
|
1.90
|
1.96
|
2.06
|
2.26
|
2.41
|
2.42
|
2.59
|
| CHF |
(%) |
0.00
|
0.00
|
0.00
|
0.00
|
0.00
|
0.00
|
0.00
|
0.00
|
0.00
|
0.00
|
| SEK |
(%) |
0.00
|
0.00
|
0.00
|
0.00
|
0.00
|
0.00
|
0.15
|
0.16
|
0.43
|
0.44
|
| SGD |
(%) |
1.44
|
1.47
|
1.64
|
1.70
|
1.80
|
1.88
|
1.93
|
2.05
|
2.08
|
2.21
|
| HKD |
(%) |
1.56
|
1.60
|
1.93
|
2.01
|
2.13
|
2.24
|
2.27
|
2.42
|
2.40
|
2.57
|
* Annualised yield at the end of the tenure
(D) RATE OF INTEREST ON RFC DEPOSITS (With effect from 10-04-2018)
SAVINGS BANK :
CURRENCY (%) - GBP (0.50%) and AUD (1.50%)
TERM DEPOSITS :
| USD |
(%) |
2.15
|
2.30
|
2.40
|
2.50
|
2.60
|
| GBP |
(%) |
0.69
|
0.90
|
1.04
|
1.15
|
1.27
|
| EUR |
(%) |
0.00
|
0.00
|
0.00
|
0.04
|
0.28
|
| JPY |
(%) |
0.00
|
0.00
|
0.00
|
0.00
|
0.01
|
| CAD |
(%) |
1.86
|
2.01
|
2.14
|
2.24
|
2.34
|
| AUD |
(%) |
1.72
|
1.83
|
1.96
|
2.26
|
2.42
|
| CHF |
(%) |
0.00
|
0.00
|
0.00
|
0.00
|
0.00
|
| SEK |
(%) |
0.00
|
0.00
|
0.00
|
0.15
|
0.43
|
| SGD |
(%) |
1.44
|
1.64
|
1.80
|
1.93
|
2.08
|
| HKD |
(%) |
1.56
|
1.93
|
2.13
|
2.27
|
2.40
|
Disclaimer: Interest Rates for FCNR(B) & RFC deposits are subject to change every month/ as & when needed by Head Office, as per guidelines issued by Reserve Bank Of India.
