NRI FD Interest Rates in India 2026

What is a Fixed Deposit?

A fixed deposit (FD) is a secured investment option with assured returns and fixed interest rates. Investors can invest a lump sum payment in the scheme for a tenure varying from 7 days to 10 years as per their financial goals. The returns on FDs are totally independent of the market movement and so this gives stability and predictable profits. As it matures, investors get their principal back plus interest earned.

Top 10 Banks Offering the Highest NRI FD Rates in 2026

NRIs can invest in fixed deposits through NRE, NRO and FCNR accounts offered by several Indian banks. The table below mentions the best NRI FD interest rates of top 10 banks in India for deposits up to ₹3 crores.

*NRI FD interest rates in India as of June 2026.

NRI FD Rates Offered by Leading Public Sector Banks

NRIs still prefer public sector banks with their huge branch network, government backing and dedicated NRI banking services. Here are the interest rates on NRI FD for deposits up to ₹3 crore (₹5 crore for some of the banks).

*NRI FD interest rates in India as of June 2026.

NRI FD Rates Available at Major Private Sector Banks

Private banks provide NRIs with multiple fixed deposit options and digital banking, flexible tenures and convenient account management. Below are the NRI FD rates offered by a few banks for deposits up to ₹3 crore (may be up to ₹5 crore for a few banks):

*NRI FD interest rates in India as of June 2026.

NRI FD Rates from SFBs, Foreign Banks and NBFCs

Apart from traditional banks, NRIs may also look at fixed deposits offered by Small Finance Banks (SFBs), international banks and NBFCs. These often offer better rates of interest and investment opportunities. Here are their NRI FD rates for deposits up to ₹5 crores:

*NRI FD interest rates in India as of June 2026.

Types of Fixed Deposit Rates in India for NRIs

NRIs can invest in several types of fixed deposits as per their banking and investing requirements. Interest rates are different for different banks, deposit types and tenures.

• Non-Resident External (NRE) Fixed Deposit: NRE fixed deposits are funded through overseas earnings and maintained in Indian Rupees. Both principal and interest are fully repatriable, and the interest earned is generally tax-free in India.
• Non-Resident Ordinary (NRO) Fixed Deposit: NRO fixed deposits are used to manage the revenue produced in India, such as rent, pension or dividends. The returns are also competitive in terms of these deposits; however, the interest gained is taxable in India.
• Foreign Currency Non-Resident (FCNR) Fixed Deposit Rates: FCNR fixed deposits allow NRIs to invest in designated foreign currencies. Since the deposit remains in foreign currency, investors are protected from exchange rate fluctuations.

FD Rates in India for NRIs Across Deposit Categories

The interest rates on NRI fixed deposits fluctuate based on the type of deposit account chosen. Most of the banks offer NRE and FCNR (Foreign Currency Non-Resident (Bank) Account) fixed deposits. Certain banks even offer Resident Foreign Currency (RFC) deposits for NRIs returning back. The tables below compare interest rates offered by the leading banks in certain deposit categories.

NRE Fixed Deposit Interest Rates Offered by Major Banks in India

NRE fixed deposits allow NRIs to invest foreign earnings in India while enjoying repatriation benefits and tax-free interest income. The table below presents NRE FD rates across leading banks for selected deposit tenures.

*NRI Fixed Deposit interest rates in India as of June 2026.

FCNR Deposit Interest Rates Offered by Leading Indian Banks

FCNR deposits help NRIs to keep fixed deposits in specified foreign currency and eliminate the risk of exchange rate changes. The table below shows FCNR deposit interest rates in major currencies offered by Indian Banks.

*NRI FD interest rates in India as of June 2026.

RFC Deposit Interest Rates Offered by Leading Indian Banks

RFC deposits are suitable for returning NRIs who wish to retain foreign currency holdings after becoming residents in India. The following table provides interest rates offered by different banks on RFC deposits in different currencies.

*NRI FD interest rates in India as of June 2026.

Key Features of Fixed Deposit

Below are the major features of the fixed deposit in India for NRI depositors:

• High Interest Rates: Banks in India provide competitive interest rates on FDs for NRIs. The rate differs from bank to bank and also depends on the market conditions and RBI limitations.
• Guaranteed Returns: FDs offer a guaranteed rate of interest on the entire duration of the deposit. So, it is a safe investment for NRIs.
• Wide Range of Length Options: NRIs are generally given a wide choice of length options from few months to several years in FDs. NRIs might mentally decide for a term based on their financial goals and interests.
• Currency Options: An NRI can open FD in various currencies like USD, GBP, EUR etc. Thus, NRIs can invest their money in the currency they choose.
• Repatriability: NRI can choose between repatriable and non-repatriable FDs. Repatriable FDs are free to transfer the principal amount and the accrued interest to the NRI’s foreign account. Non-repatriable FDs do not allow the funds to be transferred abroad.
• Nomination Facility: NRIs can nominate a person to receive the deposit in case of any sudden situation. This results in a smooth payment to the specified recipient.
• Automatic Renewal: Few banks provide the facility of automatic renewal of FDs for NRIs as well. The FD shall be reissued for the same tenure on maturity unless otherwise advised by the NRI.

Eligibility Criteria of NRI Fixed Deposits

The eligibility requirements for opening a fixed deposit may vary slightly across banks and financial institutions. But, following profiles are often suitable for the FD investment:

• Resident Individuals: Any Indian resident aged 18 years or above can open a fixed deposit account individually or jointly with another eligible depositor.
• Non-Resident Indians: NRIs can open fixed deposits in NRE, NRO or FCNR accounts as per the RBI guidelines and bank policies.
• Minors: A minor can open fixed deposits in their name through the parent or legal guardian. Some banks allow minors over a certain age to run the account themselves.
• Senior Citizens: Senior citizens can open fixed deposits and they usually get a better interest rate compared to a regular investor.
• Hindu Undivided Families (HUFs): Surplus funds of HUFs can be invested in fixed deposit accounts through receiving set returns.
• Corporations and Institutions: Private corporations, partnership firms, trusts, societies, clubs and other such qualifying entities subject to the applicable rules and documentation requirements can also purchase fixed deposits.

Documents Required to Open Fixed Deposits

The documents required for opening a fixed deposit may vary slightly across banks. For the KYC verification and opening an account, however, the following documents are needed:

Note: Customers with an existing KYC-compliant bank account may be able to open a fixed deposit with minimal additional documentation. Sometimes depending on the type of application and regulatory compliance banks may ask for some additional documentation.

How to Open a Fixed Deposit Account?

NRIs can open any one fixed deposit like NRE, NRO, or FCNR account through either online banking methods or by visiting a branch.

Online Method

Most of the banks offer the facility for NRIs to open fixed deposits effortlessly using Internet Banking or Mobile Banking.

• Log in to your NRI Banking Account: Access your NRI Banking account through the bank’s Internet Banking or Mobile Banking platform.
• Choose the Type of Deposit: Select the Fixed Deposit, NRE/NRO/FCNR which one you want.
• Deposit Details: Mention the amount of investment, term of deposit and the manner of interest payment opted.
• Review Interest Rates and Terms: Check the applicable FD interest rates, maturity value, and scheme conditions.
• Authorise the Deposit: Confirm the details and transfer funds from the linked NRI account.
• Receive FD Confirmation: The fixed deposit is created instantly, and the deposit receipt is issued electronically.

Note: While most leading banks offer fully digital FD opening facilities, certain small finance banks and NBFCs may require partial or complete offline processing.

Offline Method

NRIs who prefer branch-based services can open a fixed deposit by following these steps:

• Visit the Bank Branch: Approach a designated branch or NRI banking service centre.
• Complete the Application Form: Fill out the form for the chosen NRE, NRO, or FCNR deposit.
• Submit Required Documents: Provide KYC documents such as Passport, Visa, PAN, and address proof.
• Select Deposit Preferences: Choose the deposit tenure and interest payout option.
• Fund the Deposit Account: Transfer the investment amount through approved NRI banking channels.
• Verification and FD Issuance: The bank verifies the application and issues the fixed deposit receipt upon successful processing.

How to Choose the Right Fixed Deposit?

Interest rates with your investing goals, flexibility and length should be considered when you are choosing the right fixed deposit.

• Choose the FD as Your Time Frame: Select a tenure that is aligned when you think you’ll need the cash. If you might need the money in the near future, don’t lock it into long-term deposits.
• Calculate the Return Effective: Don’t just look at the quoted rate of interest, but compare the maturity value. One of the factors that might greatly affect total profits is the compounding frequency.
• Repatriation Needs: It is necessary for NRIs to check if the cash and interest are readily transferred abroad. This can influence the choice between NRE, NRO, and FCNR deposits.
• Monitor Rate Trends: If rates are falling, lock in longer terms for better yields. Rising-rate investing may be better with shorter tenures
• Know About Early Withdrawal Penalties: Early withdrawal fines vary from different banks. This knowledge will allow you to prevent surprises such as lower returns.
• Vary Your Deposit Types: Instead of putting all the amount into one FD you may choose to diversify your assets with various accounts with different tenures and characteristics to get more liquidity and flexibility.
• Service & Convenience Features: With online account management, nomination facilities, maturity instructions and customer support during the term, fixed deposit is hassle-free.

Why Invest in Fixed Deposits?

Interest rates are variable and investing in a fixed deposit today will help you lock in the assured returns for the period you choose. Here are some major reasons for having a fixed deposit:

• Lock In Now Interest Rate: FD interest rates will not remain at the current levels forever. By investing today you lock in the rate for the full term.
• Assured Returns: Unlike market linked products, fixed deposits offer you assured returns from the bank on maturity. So you may handle your money accordingly.
• Market Risk Protection to Your Capital: FDs are not subjected to fluctuate based on market conditions. This protects your capital in unpredictable markets.
• Choose Tenures as Your Convenience: Deposits tenures are available to all investors from a few days to few years as per their financial aspirations.
• Create a Steady Stream of Income: Non-cumulative FDs pay interest periodically and are suitable for all investors who require regular income.
• Facilities for Access to Funding: Some banks provide the facility of loans or overdraft against fixed deposits. This means that you can get liquidity without breaking your investment.
• Creating Wealth by Compounding: In case of cumulative fixed deposits, the revenue earned is re-invested and helps investors to earn higher profits through the power of compounding.
• Take the Benefits of a Safe Investment Avenue: Fixed deposits of regulated banks and financial institutions remain one of the most trusted avenues for conservative investors.

Key Takeaways

NRI fixed deposits are a safe approach to achieve consistent returns on overseas and India based income. Interest rates now vary from 2.75% to 7.00% per annum depending on the bank, the period of the loan and the type of deposit. NRIs can choose between NRE, NRO, FCNR and RFC deposits according to their repatriation, currency and investment requirements, along with adjustable tenures and predictable returns.