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    • NRE NRO FCNR Deposits
      Interest Rates / NRI Schemes

      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. 07.01.2016

      Sr. No. Time Period Less than Rs. 1.00 Crore
      01. 1 year 7.75%
      02. More than 1 Year but upto 2 Year 7.75%
      03. Above 2 year and upto 3 Year 7.50%
      04. Above 3 year and less than 5 year 7.50%
      05. 5 year and Above 7.25%

       

      ii) For Term Deposits Rs. 1.00 Crore and above up to Rs. 5.00 Crores w.e.f 19.10.2015

      T&I: MUM : NRETDR: 022: 2015-16

      Sr. No. Period Rate w.e.f 19-10-2015
      01. 1 Year 7.25
      02. Above 1 Year up to 2 Year 7.10
      03. Above 2 Year less than 3 year 7.10
      04. 3 Years and above but less than 5 years 7.10
      05. 5 years and above 7.10

      1. All Zonal Offices are requested to note the above mentioned interest rates for NRE Term Deposits are effective from 19.10.2015.
      2. The above card rates are valid for single deposits (Fresh & Renewal).
      3. No cash deposits to be accepted.
      4. For premature closure penal charges shall be 2% less than applicable rate for which the term deposit of more than 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.
      5. Under no circumstances branches are allowed to quote beyond the rates mentioned supra. Zonal offices and Circle offices are requested to ensure strict compliance.

       

      iii) For Term Deposits above Rs. 5.00 Crores w.e.f. 19.10.2015

      T&I: MUM : NRETDR: 023: 2015-16

      Sr. No. Period NRE Deposits Above Rs. 5.00 Cr
      01. 365 Days to 375 Days 7.25
      02. 376 Days to less than 2 years 7.10
      03. 2 years but less than 3 years 7.10
      04. 3 Years but less than 5 Year 7.10
      05. 5 Years and above 7.10

      1. All Zonal Offices are requested to note the above mentioned interest rates for NRE Term Deposits are effective from 19.10.2015.
      2. The above card rates are valid for single deposits (Fresh & Renewal).
      3. No cash deposits to be accepted.
      4. For premature closure penal charges shall be 2% less than applicable rate for which the term deposit of more than 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.
      5. Under no circumstances branches are allowed to quote beyond the rates mentioned supra. Zonal offices and Circle offices are requested to ensure strict compliance.

      (B) RATE OF INTEREST ON NON-RESIDENT ORDINARY (NRO) TERM DEPOSITS


      (C) Rate of Interest on FCNR (B) Deposits (with effect from 01-02-2016)

      Tenure 1 Year to less than 2 Years 2 Years to less than 3 Years 3 Years to less than 4 Years 4 Years to less than 5 Years 5 Years only
      Currency ROI Yield* ROI Yield* ROI Yield* ROI Yield* ROI Yield*

      USD

      (%)

      1.30

      1.33

      1.76

      1.82

      2.00

      2.10

      2.15

      2.29

      2.29

      2.45

      GBP

      (%)

      1.18

      1.21

      1.70

      1.76

      1.93

      2.03

      2.06

      2.19

      2.18

      2.32

      EUR

      (%)

      0.46

      0.47

      0.74

      0.76

      0.89

      0.92

      0.98

      1.02

      1.09

      1.13

      JPY

      (%)

      0.61

      0.62

      0.90

      0.92

      1.00

      1.03

      1.02

      1.06

      1.05

      1.09

      CAD

      (%)

      1.52

      1.56

      1.62

      1.68

      1.78

      1.86

      1.86

      1.97

      1.97

      2.09

      AUD

      (%)

      2.74

      2.84

      2.93

      3.08

      3.06

      3.28

      3.27

      3.57

      3.36

      3.68

      CHF

      (%)

      0.00

      0.00

      0.13

      0.13

      0.28

      0.29

      0.37

      0.38

      0.49

      0.50

      SEK

      (%)

      0.23

      0.23

      0.62

      0.63

      0.92

      0.95

      1.16

      1.21

      1.39

      1.45

      SGD

      (%)

      2.28

      2.35

      2.73

      2.87

      2.99

      3.20

      3.14

      3.42

      3.25

      3.55

      HKD

      (%)

      1.74

      1.79

      2.25

      2.35

      2.53

      2.68

      2.62

      2.82

      2.72

      2.94

      * Annualised yield at the end of the tenure


      (D) Rate of Interest on RFC Deposits (with effect from 01-02-2016)

      SAVINGS BANK:

      CURRENCY (%) - GBP (0.50%) and AUD (1.50%)

      TERM DEPOSITS:

      Currency 1 Year to less than 2 Years 2 Years to less than 3 Years 3 Years to less than 4 Years 4 Years to less than 5 Years 5 Years only

      USD

      (%)

      1.30

      1.76

      2.00

      2.15

      2.29

      GBP

      (%)

      1.18

      1.70

      1.93

      2.06

      2.18

      EUR

      (%)

      0.46

      0.74

      0.89

      0.98

      1.09

      JPY

      (%)

      0.61

      0.90

      1.00

      1.02

      1.05

      CAD

      (%)

      1.52

      1.62

      1.78

      1.86

      1.97

      AUD

      (%)

      2.74

      2.93

      3.06

      3.27

      3.36

      CHF

      (%)

      0.00

      0.13

      0.28

      0.37

      0.49

      SEK

      (%)

      0.23

      0.62

      0.92

      1.16

      1.39

      SGD

      (%)

      2.28

      2.73

      2.99

      3.14

      3.25

      HKD

      (%)

      1.74

      2.25

      2.53

      2.62

      2.72

      Disclaimer: Interest rates for FCNR and RFC deposits are subject to change on the 1st of every month, as per the guidelines issued by the Reserve Bank of India.

       

      NRNR and NRSR Deposits : Discontinued w.e.f. 01.04.02. The existing accounts under NRNR Deposit scheme may be continued only upto the date of maturity. The existing NRSR accounts other than Term Deposits shall not be continued after 30.09.02

       

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