NRE Term Deposit Interest Rates
Federal bank offers attractive returns to the money you invest as an NRE customer. Interest rates for the deposit are mentioned below.
Non-Resident accounts are not eligible for additional interest offered to senior citizens.
The Minimum tenor for earning the interest on NRE Fixed Deposit is 1 year.
Penalty of 1% for premature closure applicable for all NRE term deposits irrespective of amount, opened/renewed on or after 14.06.2018.
Interest rates for NRE Term Deposits effective from 18-07-2024 (Rates in % p.a)
Period | Single Deposit Less than ₹300 Lakhs |
---|---|
1 year to less than 13 months | 6.80% |
13 months to 399 days | 7.20% |
400 days | 7.25% |
401 days to less than 2 years | 7.00% |
2 years to 776 days | 7.05% |
777 days | 7.25% |
778 days to less than 3 years | 7.05% |
3 years to less than 5 years | 7.00% |
5 years and above | 6.60% |
Effective Annualized Rate of Return
Effective Annualized Rate of Return
File name | Description | |
HVD Web Interest 26.07.2024 | Interest rates for Resident & NRE Term Deposits of Rs.3 crore and above | (188.92) KB |