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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!
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.
Your NRE Fixed Deposit will be maintained in Indian Rupees.
In order to earn interest on your NRE Fixed Deposit, it needs to be kept for a minimum of 1 year.
The NRE deposit can be kept for a maximum of 10 years.
We offer the most attractive interest rates on our deposits
Click here to know more in detail.
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.
Yes, the funds held in your NRE Fixed Deposit are fully and freely repatriable (both principal and Interest).
The minimum amount required for opening NRE Fixed Deposit is Rs.1,000/- only.
As per current guidelines, the principal amount as well as the interest earned on NRE deposit is exempt from Income Tax in India.
The NRE deposit account can be funded through:
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.
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.
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.
You can access your NRE Fixed Deposit through Net Banking and Mobile Banking. Click here to login your Net banking.
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.
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.