{"id":7956,"date":"2021-05-01T01:00:00","date_gmt":"2021-04-30T19:30:00","guid":{"rendered":"http:\/\/www.apnaplan.com\/?p=7956"},"modified":"2021-06-02T04:37:06","modified_gmt":"2021-06-01T23:07:06","slug":"best-nre-fd-rates","status":"publish","type":"post","link":"https:\/\/www.apnaplan.com\/best-nre-fd-rates\/","title":{"rendered":"Best NRE Fixed Deposit Interest Rates for NRIs \u2605 June 2021"},"content":{"rendered":"\n

NRE Fixed Deposit or Non-Resident External<\/strong> FD is one of the popular ard one of the best investments for NRIs\/PIOs\/OCIs<\/strong> because of two reasons:<\/p>\n\n\n\n

  1. The interest rate is on the higher side as compared to their country of residence and<\/li>
  2. the interest earned on NRE FD is tax free in India<\/span><\/li><\/ol>\n\n\n\n

    This post compares the best interest rates on NRE FDs.<\/p>\n\n\n\n

    Best NRE FD Rates<\/h2>\n\n\n\n

    The table below compares the interest rates offered on various NRE fixed and recurring deposits along with the penalty on pre-closure of FD\/RD across 40 major banks in India.<\/p>\n\n\n\n

    The highest interest rate on fixed deposit is offered by Suryoday Small Finance Bank (5 Years) at 7.25%.<\/strong> <\/strong><\/p>\n\n\n\n

    In traditional banks Yes Bank is offering 6.75% for 5 Years to <= 10 years tenure.<\/strong><\/strong><\/p>\n\n\n\n

    DCB Bank, The Ratnakar Bank and Tamilnad Mercantile Bank offer highest interest rate across most tenures.<\/strong><\/p>\n\n\n\n

    Bank<\/th>Type of Bank<\/th>1 Year<\/th>2 Years<\/th>3 Years<\/th>4 Years<\/th>5 years<\/th>5+ Years<\/th><\/tr><\/thead>
    AU Small Finance Bank <\/td>Small Bank<\/td>6.35%<\/td>6.25%<\/td>6.50%<\/td>6.25%<\/td>6.25%<\/td>6.50%<\/td><\/tr>
    Axis Bank<\/td>Private<\/td>5.15%<\/td>5.25%<\/td>5.40%<\/td>5.40%<\/td>5.75%<\/td>5.75%<\/td><\/tr>
    Bandhan Bank<\/td>Private<\/td>5.75%<\/td>5.75%<\/td>5.50%<\/td>5.50%<\/td>5.50%<\/td>5.50%<\/td><\/tr>
    Bank of Baroda<\/td>Government<\/td>4.90%<\/td>5.00%<\/td>5.10%<\/td>5.25%<\/td>5.25%<\/td>5.25%<\/td><\/tr>
    Bank of India<\/td>Government<\/td>5.25%<\/td>5.30%<\/td>5.30%<\/td>5.30%<\/td>5.30%<\/td>5.30%<\/td><\/tr>
    Bank of Maharashtra<\/td>Government<\/td>4.90%<\/td>4.90%<\/td>4.90%<\/td>4.90%<\/td>4.90%<\/td>4.90%<\/td><\/tr>
    Canara Bank<\/td>Government<\/td>5.20%<\/td>5.40%<\/td>5.50%<\/td>5.50%<\/td>5.50%<\/td>5.50%<\/td><\/tr>
    Capital Small Finance Bank <\/td>Small Bank<\/td>6.00%<\/td>6.00%<\/td>6.00%<\/td>6.00%<\/td>6.00%<\/td>6.00%<\/td><\/tr>
    Catholic Syrian Bank<\/td>Private<\/td>5.00%<\/td>5.00%<\/td>5.00%<\/td>5.25%<\/td>5.25%<\/td>5.75%<\/td><\/tr>
    Central Bank of India<\/td>Government<\/td>4.90%<\/td>5.00%<\/td>5.00%<\/td>5.00%<\/td>5.10%<\/td>5.10%<\/td><\/tr>
    Citibank<\/td>Foreign<\/td>2.75%<\/td>3.00%<\/td>3.50%<\/td>3.50%<\/td>3.50%<\/td>x<\/td><\/tr>
    City Union Bank<\/td>Private<\/td>5.00%<\/td>5.50%<\/td>5.50%<\/td>5.50%<\/td>5.50%<\/td>5.25%<\/td><\/tr>
    DCB Bank<\/td>Private<\/td>5.80%<\/td>6.00%<\/td>6.50%<\/td>6.50%<\/td>6.50%<\/td>6.50%<\/td><\/tr>
    Deutsche Bank<\/td>Foreign<\/td>4.00%<\/td>4.25%<\/td>4.50%<\/td>5.00%<\/td>6.25%<\/td>x<\/td><\/tr>
    Dhanalakshmi Bank<\/td>Private<\/td>5.25%<\/td>5.40%<\/td>5.40%<\/td>5.50%<\/td>5.50%<\/td>5.60%<\/td><\/tr>
    Digibank by DBS<\/td>Foreign<\/td>4.25%<\/td>4.50%<\/td>5.50%<\/td>5.50%<\/td>5.50%<\/td>5.50%<\/td><\/tr>
    Equitas Small Finance Bank<\/td>Small Bank<\/td>6.35%<\/td>6.50%<\/td>6.25%<\/td>6.25%<\/td>6.25%<\/td>6.50%<\/td><\/tr>
    ESAF Small Finance Bank <\/td>Small Bank<\/td>6.50%<\/td>6.00%<\/td>6.00%<\/td>5.75%<\/td>5.75%<\/td>5.25%<\/td><\/tr>
    Federal Bank<\/td>Private<\/td>5.10%<\/td>5.50%<\/td>5.35%<\/td>5.35%<\/td>5.50%<\/td>5.50%<\/td><\/tr>
    Fincare Small Finance Bank <\/td>Small Bank<\/td>x<\/td>x<\/td>x<\/td>x<\/td>x<\/td>x<\/td><\/tr>
    HDFC Bank<\/td>Private<\/td>4.90%<\/td>4.90%<\/td>5.15%<\/td>5.30%<\/td>5.30%<\/td>5.50%<\/td><\/tr>
    ICICI Bank<\/td>Private<\/td>4.90%<\/td>5.00%<\/td>5.15%<\/td>5.35%<\/td>5.35%<\/td>5.50%<\/td><\/tr>
    IDBI Bank<\/td>Private<\/td>4.90%<\/td>5.00%<\/td>5.25%<\/td>5.25%<\/td>5.25%<\/td>5.25%<\/td><\/tr>
    IDFC First Bank<\/td>Private<\/td>5.75%<\/td>5.75%<\/td>6.00%<\/td>6.00%<\/td>6.00%<\/td>5.75%<\/td><\/tr>
    Indian Bank<\/td>Government<\/td>5.00%<\/td>5.10%<\/td>5.25%<\/td>5.25%<\/td>5.25%<\/td>5.15%<\/td><\/tr>
    Indian Overseas Bank<\/td>Government<\/td>5.20%<\/td>5.25%<\/td>5.25%<\/td>5.25%<\/td>5.25%<\/td>5.25%<\/td><\/tr>
    Indus Ind Bank<\/td>Private<\/td>6.50%<\/td>6.50%<\/td>6.50%<\/td>6.50%<\/td>6.50%<\/td>6.25%<\/td><\/tr>
    J&K Bank<\/td>Government<\/td>5.10%<\/td>5.20%<\/td>5.30%<\/td>5.30%<\/td>5.30%<\/td>5.30%<\/td><\/tr>
    Jana Small Finance Bank<\/td>Small Bank<\/td>6.25%<\/td>6.50%<\/td>6.50%<\/td>6.75%<\/td>6.75%<\/td>6.00%<\/td><\/tr>
    Karnataka Bank<\/td>Private<\/td>5.20%<\/td>5.50%<\/td>5.50%<\/td>5.50%<\/td>5.50%<\/td>5.60%<\/td><\/tr>
    Karur Vysya Bank<\/td>Private<\/td>5.50%<\/td>5.50%<\/td>5.65%<\/td>5.65%<\/td>5.75%<\/td>5.75%<\/td><\/tr>
    Kotak Mahindra Bank<\/td>Private<\/td>4.50%<\/td>5.00%<\/td>5.10%<\/td>5.25%<\/td>5.30%<\/td>5.30%<\/td><\/tr>
    Nainital Bank<\/td>Private<\/td>5.25%<\/td>5.35%<\/td>5.35%<\/td>5.35%<\/td>5.35%<\/td>5.35%<\/td><\/tr>
    North East Small Finance Bank<\/td>Small Bank<\/td>6.75%<\/td>6.75%<\/td>6.75%<\/td>6.50%<\/td>6.50%<\/td>6.25%<\/td><\/tr>
    Post Office Time Deposit<\/td>Post Office<\/td>5.50%<\/td>5.50%<\/td>5.50%<\/td>x<\/td>6.70%<\/td>x<\/td><\/tr>
    Punjab and Sind Bank<\/td>Government<\/td>5.15%<\/td>5.15%<\/td>5.30%<\/td>5.30%<\/td>5.30%<\/td>5.30%<\/td><\/tr>
    Punjab National Bank<\/td>Government<\/td>5.10%<\/td>5.10%<\/td>5.25%<\/td>5.25%<\/td>5.25%<\/td>5.25%<\/td><\/tr>
    Ratnakar Bank<\/td>Private<\/td>6.10%<\/td>6.10%<\/td>6.30%<\/td>6.30%<\/td>6.30%<\/td>6.00%<\/td><\/tr>
    South Indian Bank<\/td>Private<\/td>5.40%<\/td>5.40%<\/td>5.50%<\/td>5.50%<\/td>5.65%<\/td>5.50%<\/td><\/tr>
    Standard Charted Bank<\/td>Foreign<\/td>5.30%<\/td>5.40%<\/td>5.35%<\/td>5.35%<\/td>5.35%<\/td>x<\/td><\/tr>
    State Bank of India<\/td>Government<\/td>4.40%<\/td>5.10%<\/td>5.30%<\/td>5.30%<\/td>5.30%<\/td>5.40%<\/td><\/tr>
    Suryoday Small Finance Bank <\/td>Small Bank<\/td>6.75%<\/td>7.00%<\/td>7.10%<\/td>7.10%<\/td>7.25%<\/td>6.50%<\/td><\/tr>
    Tamilnad Mercantile Bank<\/td>Private<\/td>5.75%<\/td>5.75%<\/td>5.65%<\/td>5.50%<\/td>5.50%<\/td>5.50%<\/td><\/tr>
    UCO Bank<\/td>Government<\/td>4.90%<\/td>5.00%<\/td>5.00%<\/td>5.00%<\/td>5.00%<\/td>5.00%<\/td><\/tr>
    Ujjivan Small Finance Bank<\/td>Small Bank<\/td>6.50%<\/td>6.75%<\/td>6.75%<\/td>6.75%<\/td>6.75%<\/td>5.80%<\/td><\/tr>
    Union Bank of India<\/td>Government<\/td>5.30%<\/td>5.30%<\/td>5.50%<\/td>5.55%<\/td>5.55%<\/td>5.60%<\/td><\/tr>
    Utkarsh Small Finance Bank<\/td>Small Bank<\/td>6.75%<\/td>6.75%<\/td>6.75%<\/td>6.75%<\/td>6.75%<\/td>6.75%<\/td><\/tr>
    Yes Bank<\/td>Private<\/td>6.00%<\/td>6.25%<\/td>6.50%<\/td>6.50%<\/td>6.75%<\/td>6.75%<\/td><\/tr><\/tbody><\/table>
    Best NRE FD Rates<\/strong><\/figcaption><\/figure>\n\n\n\n

    \u00a0Source: Bank Websites \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0<\/strong>Updated:<\/strong><\/span> June 1, 2021\u00a0\u00a0<\/strong><\/p>\n\n\n\n

    Do you Know about Hidden Charges in Banks?<\/strong><\/h4>

    Do you know you pay a few thousand rupees every year to hidden charges of banks. This could range from more known fines for not maintaining minimum balance amount to lesser know POSDEC charge of ICICI Bank<\/a>. There could be charges for ATM usage, branch visits, cheque books and so on. Do read our article on Hidden Charges in Banks and what you can do about it?<\/a><\/p><\/div><\/div>\n\n\n\n

    NRE FD Rates<\/h2>\n\n\n\n

    For comparing the best interest rates on fixed deposits over different duration of investment, we have it divided into following 3 slabs:<\/p>\n\n\n\n