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