NRI Fixed Deposits

    IDFC Bank - NRI Fixed Deposits

    Term Deposit Accounts: We offer three types of Term Deposit Accounts; Foreign Currency Non-Resident, Non-Resident External & Non-Resident Ordinary. You can choose the type of deposit account depending on whether the source of funds into this account is from India or overseas and based on your need for this account.

    These deposits also offer the below mentioned benefits:

    • Best interest rates in for short term or long term
    • Safe and secure investment – great way to save for your future needs

    Click here for all interest rates

    Term Deposit Accounts: We offer three types of Term Deposit Accounts; Foreign Currency Non-Resident, Non-Resident External & Non-Resident Ordinary. You can choose the type of deposit account depending on whether the source of funds into this account is from India or overseas and based on your need for this account.

    The table below will help you understand the difference between these accounts better:

    India Deposit Products Foreign Currency Non-Resident Deposit (FCNR) Non-Resident External Deposit (NRE) Non-Resident Ordinary Deposit (NRO)
    Currencies You can choose from 5 currencies:
    • US Dollar
    • British Pound
    • Euro
    • Singapore Dollar
    • Australian Dollar
    NRE Deposits are in Indian Rupees only. If you remit funds in Foreign Currency, these funds are converted on Indian Rupees at the prevailing exchange rate as on the date of the transfer prior to deposit booking. NRO Deposits are in Indian Rupees only. If you remit funds in Foreign Currency, these funds are converted on Indian Rupees at the prevailing exchange rate as on the date of the transfer prior to deposit booking.
    Minimum Deposit USD 1,000 or equivalent. INR 10,000. INR 10,000.
    Tenure
    of Deposit
    Tenures available range from 1 year to 5 years. Tenures available range from 1 year to 10 years. Tenures available range from 7 days to 10 years.
    Interest Rates

    Click here for interest rates

    Interest Computation Interest is computed using a fixed rate. Interest is computed using a fixed rate. You can choose between Simple or Compound Interest. For simple interest FD, you can get monthly or quarterly payoyout. Interest is computed using a fixed rate. You can choose between Simple or Compound Interest. For simple interest FD, you can get monthly or quarterly payoyout.
    Interest Payment Interest is accrued monthly and is paid on maturity. Interest is compounded on a half yearly basis. Click here for an illustration on the interest calculation. Interest is accrued monthly. In case of Compound Interest, interest is compounded every 90 days and paid on maturity. In case of Simple Interest, interest is paid quarterly or monthly (monthly interest payment is with a discount). Interest is accrued monthly. For deposits greater than six months tenure both compound & simple interest is available. In case of Compound Interest, interest is compounded every 90 days and paid on maturity. In case of Simple Interest, interest is paid quarterly or monthly (monthly interest payment is with a discount).
    Deposit Renewal Deposit is automatically renewed for same tenure as original deposit at interest rate applicable as on date of renewal.If you wish to change renewal instructions, please provide instructions to the bank.
    Tax on Interest The interest earned on this account is exempt from tax in India. However, the interest earned may be subject to tax in your country of residence. Please speak to your Tax Consultant for tax obligations in your country of residence. The interest earned on this account is exempt from tax in India. However, the interest earned may be subject to tax in your country of residence. Please speak to your Tax Consultant for tax obligations in your country of residence. The interest earned on this account is taxable in India. Tax is currently deducted at source at 30% + Surchage and cess when the interest accrues on your deposit. In addition to the interest taxed in India, the interest earned may also be subject to tax in your country of residence. Please speak to your Tax Consultant for tax obligations in your country of residence.
    Joint Account Holder You can add Non-Resident Indians /PIOs / OCIs as Joint Account Holders.
    Resident Indian close relatives may be added a second holder in the account on “Former or Survivor” basis .This would allow the second holder access to account only post the demise of the NRI first holder.
    Funding the Account The account can be funded through:
    • Foreign Currency Remittances from overseas
    • Funds from any other FCNR or NRE Account in any bank in India
    The account can be funded through:
    • Foreign Currency Remittances from overseas
    • Funds from any other FCNR or NRE Account in any bank in India
    The account can be funded through:
    • Any legitimate income from India
    • Funds from any other NRO or NRE Account in any bank in India
    • Foreign Currency Remittances from overseas
    Repatriation Repatriation can be done easily for both principle and interest earned. If you wish to Repatriate funds, we only require written instructions with the wire details for executing this Repatriation. Repatriation can be done easily for both principle and interest earned. If you wish to Repatriate funds, we only require written instructions with the wire details for executing this Repatriation. Repatriation needs to be in adherence to the guidelines of the Reserve Bank of India and is limited to equivalent of USD 1 million per year for all qualified balances. Additionally, you will need to provide documents as per the guidelines issued by the Reserve Bank of ndia depending on the source of the funds in the account.
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Contact us

REGISTERED office:

IDFC FIRST Bank Ltd

KRM Tower, 7th Floor, No. 1,
Harrington Road, Chetpet,
Chennai - 600031, Tamil Nadu,
India

Corporate office:

IDFC FIRST Bank Ltd

Naman Chambers,
C-32, G-Block,
Bandra-Kurla Complex,
Bandra East, Mumbai - 400051,
India

Bank Account Related

For feedback/concerns-
Call us at : 1800-419-4332
Write to us at : banker@idfcfirstbank.com

For escalations-
Call us at : 1800-419-2332
Write to us at : head.customerservice@idfcfirstbank.com

Loan Account Related

For feedback/concerns-
Call us at : 1860-500-9900
Write to us at : customer.care@idfcfirstbank.com

For escalations-
Call us at : 1800-419-2332
Write to us at : head.customerservice@idfcfirstbank.com

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