The only FASTag with triple benefits
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
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!
At IDFC FIRST Bank, we offer the following tenure options with NRE deposits:
FCNR FD rates:
NRO/NRE FD rates
FCNR Fixed Deposit/NRE Deposit Tax:
NRO FD Tax:
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.
FCNR /NRE Fixed Deposit: The FCNR deposit account can be funded through:
NRO FD: The account can be funded through:
FCNR/NRE Deposit: Money from FCNR deposits or NRE deposits is freely repatriable i.e. both the Principal amount and interest earned are freely and completely transferable. We only require written instructions with the wire details for executing this Repatriation.
NRO FD: Funds from the NRO Deposits can be repatriated post payment of applicable taxes with a limit of USD 1 million in a financial year. We need documents as per the guidelines issued by the Reserve Bank of India depending on the source of the funds in the account.
You can book NRO deposits by reaching out to any IDFC FIRST Bank representative or reaching out to your RM.