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 15-11-2023 (Rates in % p.a)
| Period | Single Deposit Less than ₹200 Lakhs |
|---|---|
| 1 year to less than 13 months | 6.80% |
| 13 months to 399 days | 7.30% |
| 400 days | 7.40% |
| 401 days to 21 months | 7.30% |
| Above 21 months to less than 2 years | 6.75% |
| 2 years 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
Interest rates for NRE Deposit Plus Scheme - NRE Term Deposits without option for Premature Withdrawal
| File name | Description | |
| HVD Web Interest 02.12.2023 | Interest rates for Resident & NRE Term Deposits of Rs.2 crore and above | (207.86) KB |