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NRE Fixed Deposit

Non Resident External Fixed Deposit Account allows you to deposit and park your foreign currency in India and get attractive tax exempt interest rates on it. Your NRE Fixed deposit account can be funded through: Foreign currency remittance from overseas and/or funds from any other FCNR/NRE in any bank in India

Multiply your earnings with tax exempt interest of up to 7.90% on IDFC FIRST Bank NRE Fixed Deposit

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NRE fixed deposit interest rate

Eligibility for NRE FD

Any existing IDFC FIRST Bank NRI customer can open an NRE Fixed deposit with us. All it takes is a couple of clicks on our mobile app!

NRE fixed deposit eligibility

Compare NRE FD Interest Rates

Explore our range of NRI Fixed deposit products to make an informed choice

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FREQUENTLY ASKED QUESTIONS

How can I book NRE Fixed Deposit?

NRE Fixed deposits can be booked online using net banking, mobile banking application or by sending an email from the registered email ID to your Relationship Manager.

On your visit to India, you may also visit the nearest branch for booking an NRE Fixed Deposit.

In which currency is my NRE Fixed Deposit maintained?

Your NRE Fixed Deposit will be maintained in Indian Rupees.

What should be the minimum tenure to earn interest on NRE Fixed Deposit?

 

In order to earn interest on your NRE Fixed Deposit, it needs to be kept for a minimum of 1 year.

What is the maximum tenure of NRE Fixed deposits?

The NRE deposit can be kept for a maximum of 10 years.

What is the interest rate for which I can open a NRE Fixed Deposit?

We offer the most attractive interest rates on our deposits

Click here to know more in detail.

Will I get a chequebook and a global debit card when I open NRE Fixed Deposit?

We share FD advice on your registered email ID, and the Deposit detailed advice can be viewed on NB and MB too. However, a chequebook and a global debit card shall not be issued.

Can I repatriate funds held in my NRE Fixed Deposit?

Yes, the funds held in your NRE Fixed Deposit are fully and freely repatriable (both principal and Interest).

What is the minimum amount required to open a NRE Fixed Deposit?

The minimum amount required for opening NRE Fixed Deposit is Rs.1,000/- only.

Are these deposits taxable in India?

As per current guidelines, the principal amount as well as the interest earned on NRE deposit is exempt from Income Tax in India.

How can I fund NRE Fixed Deposit Account?

The NRE deposit account can be funded through:

  • Foreign Currency Remittances from overseas
  • Funds from any other FCNR account or NRE FD account in any bank in India

Can I have a joint account holder in my NRE Fixed Deposit?

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.

Is premature withdrawal facility available in my NRE Fixed Deposit? If yes, what would be the fore closure charges applicable?

Yes, premature withdrawal of Retail Fixed Deposit is permissible. However, the interest will be paid at the rate prevailing on the date of deposit for the tenure the deposit remained with the bank or at the contracted rate, whichever is lower. Further, the Bank will levy a penal charge from time to time for such premature withdrawals. For details of the foreclosure, charges please click here.

Can my NRE Fixed deposit with the bank automatically get renewed on maturity?

Your NRE Fixed Deposit with the bank will not get renewed automatically on maturity if specific instructions for the same have been provided during FD booking. However, in absence of any specific instruction, deposits will be renewed for the same period at the rates prevailing at the time of maturity.

How can I access my NRE Fixed Deposit when I am overseas?

You can access your NRE Fixed Deposit through Net Banking and Mobile Banking. Click here to login your Net banking.

Can I have nomination facility in my NRE Fixed Deposit?

Yes, you can avail nomination facilities in your NRE Fixed Deposit. A nominee can be either resident or non-resident as desired by the account holder.

How are NRE FD rates compounded and paid for NRE Fixed Deposit account?

NRE FD rates are computed using a fixed rate.You can choose between Simple or Compound Interest.

For simple interest FD, you can get monthly or quarterly payout.

In case of Compound Interest, interest on NRE deposits is compounded every quarterly and paid on maturity.

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