Non-Resident Indian Fixed Deposits (NRI FDs) are specialised financial instruments designed for individuals of Indian origin living abroad. These FDs cater to the unique financial needs and investment preferences of NRIs.
The interest rates for NRI FDs can vary based on the bank, tenure, and amount deposited. Typically, FDs for NRIs offer competitive interest rates similar to regular domestic deposits, making them an attractive investment option.
Bank |
Tenor |
Interest Rates (p.a.) |
SBI |
7 days - 10 years |
3.00% - 7.10% |
HDFC Bank |
7 days - 10 years |
3.00% - 7.70% |
Union Bank of India |
7 days - 10 years |
3.00% - 6.70% |
DBS Bank |
7 days - 10 years |
2.50% - 7.50% |
Disclaimer: The interest rates mentioned are subject to change at the discretion of the issuer.
Bank/NBFC |
Tenor |
Interest Rates (p.a.) |
Bajaj Finance Ltd |
1 year - 3 years |
7.11% - 8.30% |
SBI |
1 year - 10 years |
6.80% - 7.10% |
HDFC Bank |
1 year - 10 years |
6.60% - 7.70% |
Union Bank of India |
1 year - 10 years |
6.30% - 7.00% |
DBS Bank |
1 year - 10 years |
5.00% - 6.50% |
Disclaimer: The interest rates mentioned are subject to change at the discretion of the issuer.
Bank |
Tenor |
Interest Rates (p.a.)* |
SBI |
1 year - 5 years |
6.80% - 7.10% |
HDFC Bank |
1 year - 5 years |
4.00% - 5.60% |
Union Bank of India |
1 year - 10 years |
3.80% - 5.00% |
Disclaimer: *The above mentioned interest rates are applicable only to FCNR deposits in United States Dollar (USD). The rates are subject to change at the issuer’s discretion.
There are- majorly three different types of NRI FDs that cater to various needs -
Denominated in foreign currency, the interest and principal are freely repatriable, making it suitable for NRIs who want to maintain their overseas earnings.
Maintained in Indian Rupees, the interest and principal may have restrictions on repatriation, and it is suitable for income earned in India by NRIs.
Held in foreign currency, these deposits are similar to NRE fixed deposits but offer higher interest rates. The principal and interest are fully repatriable.
Each type caters to specific financial needs and considerations of NRIs.
It's crucial to carefully review the terms and conditions, interest rates, and any associated fees or penalties before investing in NRI fixed deposits. Additionally, staying informed about regulatory changes and economic conditions can help make prudent investment decisions.
Other FD Related Pages |
||
Yes, you can avoid paying double tax on income earned in the source country and residence country. You will be required to claim benefits under the Double Tax Avoidance Agreement (DTAA) for the same.
Yes, providing a PAN is mandatory when investing in NRI fixed deposits, and when filing income tax returns related to your FD.
Yes, Tax Deducted at Source or TDS is applicable for NRI fixed deposit. However, there are different rules for income tax for NRI fixed deposits.