NRI FD Rates in India

What is a Fixed Deposit?

Fixed deposit (FD) is one of the most common investment choices accessible with banks and financial institutions for savers. Investors deposit a one-time lump sum amount for a certain duration, often from 7 days to 10 years. Interest rate is fixed at the time of investment and stays consistent during the term. On maturity the depositors are paid the amount deposited and the interest which has accrued on the period of the deposit. Fixed deposits are a safe investment option and are suited for people who want to invest in a safe and predictable method.

Top 10 Banks Offering Best FD Rates – Highest FD Rates Today

NRIs can open fixed deposits in NRE, NRO and FCNR accounts with top Indian banks. Here is a table of some of the top banks and their NRI fixed deposit interest rates for deposits, generally up to ₹3 crore.

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

NRI FD Rates Offered by Leading Public Sector Banks

Public sector banks are preferred by NRIs due to their trust and wide banking network. Following bank provide NRI fixed deposits for various tenures & types of accounts for deposits up to ₹3 crore (₹5 crore for some of the banks).

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

NRI FD Rates Available at Major Private Sector Banks

Private banks offer a choice of deposit options and the convenience of online banking and deposit options to meet varied investment requirements. These are the NRI FD rates for deposits usually up to ₹3 crores (may go up to ₹5 crores for some banks):

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

NRI FD Rates Offered by SFBs, Foreign Banks and NBFCs

These financial institutions generally offer better interest rates than traditional banking channels and have customised deposit packages for different kinds of investors. The FD rates for deposits up to ₹5 crores are as follows:

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

Types of Fixed Deposit Rates in India for NRIs

Depending on their resident status, currency preference and investment goals there are numerous fixed deposit options NRIs can choose from. The main types of NRI fixed deposits available in India are discussed below.

NRE Fixed Deposits

Non Resident External (NRE) fixed deposits allow NRIs to invest their foreign profits in Indian Rupees. They are totally repatriable, including principal and interest; thus suitable for NRIs who are looking for flexibility.

NRO Fixed Deposits

NRIs can open Non-Resident Ordinary (NRO) fixed deposits for income received in India such as rent, dividends, or pension payments. The deposits are held in Indian Rupees (INR) and the interest earned is subject to applicable taxes under Indian laws.

FCNR Fixed Deposits

Non-Resident (Foreign Currency) (FCNR) fixed deposits allow NRIs to maintain deposits in accepted foreign currencies. Such deposits serve to reduce exchange rate risks and give set returns for a selected duration.

NRI FD Rates in India Based on Deposit Categories

The interest rates offered on NRI fixed deposits depend on the deposit category selected. FCNR deposits are offered by most banks and some banks additionally offer Resident Foreign Currency (RFC) deposits for returning NRIs.

NRE Fixed Deposit Rates Offered by Major Banks

NRE fixed deposits enable NRIs to invest foreign earnings in Indian rupees while enjoying repatriation benefits. The NRE FD rates offered by leading banks for certain tenures are as follows.

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

FCNR Deposit Interest Rates Offered by Indian Banks

FCNR deposits are a type of fixed deposit for Non-resident Indians in specific foreign currencies. The deposits help to decrease currency exchange risk and generate revenue in foreign currency.

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

RFC Deposit Interest Rates Offered by Indian Banks

Resident foreign currency (RFC) deposits are intended for returning NRIs who wish to retain savings in foreign currencies after becoming residents. Several banks offer RFC deposits across different currencies.

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

Key Features of Fixed Deposit

The important key features of fixed deposits are as follows:

• Enhanced FD Interest Rates for NRIs: NRIs enjoy better interest rates on fixed deposits compared to regular savings accounts.
• Inclusive FD Account Opening for NRIs: Opening a fixed deposit account is easy for eligible individuals, NRIs, minors, and HUFs.
• Flexible Nomination Options for NRIs: NRIs can nominate upto two persons for their fixed deposit. This facility enables quick transfer of funds in the case of death of an account holder.
• Emergency Withdrawal Facility: NRIs can make partial withdrawals in emergency on payment of minor expenses.
• Sweep-in Convenience for NRIs: NRIs can link their savings account with the FD and get the best interest and also have the option to withdraw the amount whenever they want.
• Loan Against FD for NRIs: With banks offering up to 75% - 90% of the FD value, NRIs can leverage their FD as collateral to acquire a loan.

Eligibility Criteria for NRI Fixed Deposits

Fixed deposits are accessible for several categories of investors such as:

• Minors: FDs can be opened for minors by parents or legal guardians.
• Resident Indian Individuals: Indian residents aged 18 years and above can open FDs individually or jointly.
• Senior Citizens: Can get FDs & may get higher rate of interest.
• Non-resident Indians (NRIs): Can invest through NRE, NRO and FCNR deposit accounts.
• Trusts, Clubs and Associations: As per the policy of the bank, the registered organisations are also eligible to participate in fixed deposits.
• Hindu Undivided Families (HUFs): FDs can be opened in the name of HUF.
• Partnership Firms & Sole Proprietorships: Excess business funds can be invested in FDs.
• Corporations & Corporate Entities: Registered corporations, trusts, societies and organisations may open FDs.

Documents Required To Open Fixed Deposit Account for NRIs

Here is the list of must-have documents for opening a fixed deposit Account with the best FD rate of interest in India:

How to Open a Fixed Deposit Account?

NRIs can open an NRE, NRO or FCNR fixed deposit account through online or offline mode depending on the facilities provided by the bank.

Online Method

Most of the biggest banks allow NRIs to open FDs online through Internet Banking or Mobile Banking.

• Log in to Your NRI Bank Account: Go to your bank’s internet banking page or open mobile banking app using your unique credentials.
• Select the Fixed Deposit Option: Choose among NRE, NRO, or FCNR fixed deposit, which type of FD you wish to open.
• Input Deposit parameters: Provide all the particular parameters such as deposit amount, tenure and desired interest payout option.
• Check Interest Rates and Terms: Users can check the applicable FD interest rates, maturity amount and other terms and conditions.
• Deposit: Check details and transfer entire amount from your linked NRI savings account now.
• Get FD Confirmation: Once the transaction is done, FD is formed and the receipt is printed electronically.

Note: Most of the banks have enabled the option to open fixed deposits completely online for NRIs using Internet Banking or Mobile Banking. Smaller Finance Banks and NBFCs nevertheless may ask the customer to visit the branch or submit physical evidence for the FD opening process to be completed.

Offline Method

NRIs can also open a fixed deposit account by visiting a bank branch or an authorised banking representative.

• Bank Branch Visit: Visit a bank branch that offers NRI banking services.
• Fill up the application form: Fill the application form of an NRE, NRO or FCNR deposit with the FD application form.
• Submit Required Documents: Provide KYC documents such as a passport, visa/residence permit, PAN (if applicable), and address proof.
• Choose FD Details: Select the deposit tenure and preferred interest payout option.
• Transfer Funds: Fund the deposit through the approved NRI banking channels.
• Verification and FD Issuance: The bank verifies the documents and issues the fixed deposit receipt upon successful processing

How to Choose the Right Fixed Deposit?

Choosing the right fixed deposit can help you maximise returns while ensuring your money remains accessible when needed. Here are some factors to consider:

• Define Your Investment Objective: Decide whether the FD is meant for wealth creation, regular income, emergency savings, or capital preservation. Your objective will help determine the most suitable FD type.
• Compare Interest Rates Across Institutions: Interest rates can vary significantly between banks and NBFCs. Comparing available options can help maximise returns without compromising safety.
• Assess Liquidity Requirements: If you may need access to your funds before maturity, choose an FD that allows premature withdrawal with reasonable penalties.
• Choose Between Cumulative and Non-Cumulative FDs: Cumulative FDs reinvest interest and may generate higher maturity value, while non-cumulative FDs provide periodic interest payouts for regular income needs.
• Evaluate the Issuer's Reputation: Consider the financial strength, track record, and customer service standards of the bank or NBFC offering the FD.
• Review Additional Features: For all senior citizens or NRIs a few FDs offer benefits such as loan or overdraft facilities against deposits, auto-renewal options, and special rates.
• Check the Minimum Deposit Requirement: Must remember to check that the minimum amount of investment really fits into your budget and investment plan.

Why Invest in Fixed Deposits?

Below are some key reasons you have to consider before the FD investment:

• Lock in Attractive Interest Rates: Before market conditions change and rates potentially decline, secure the current FD rates.
• Earn Guaranteed Returns: Unlike market-linked investments, FDs may offer fixed returns that are known at the time you invest.
• Protect Your Capital: All FDs are selected by few investors who seek stability and capital preservation.
• Build a Disciplined Savings Habit: FDs encourage long-term savings by keeping all funds invested for a particular chosen tenure.
• Create a Reliable Income Stream: As users should know Non-cumulative FDs can provide regular monthly, quarterly, or annual interest payouts.
• Meet Future Financial Goals: Whether you are saving for education or want to purchase a home, or are saving for retirement, FDs can help you to fulfil your plan with certainty.
• Emergencies Funds Access: Many FDs offer premature withdrawal and loan-against-FD facilities, providing emergency funds when they're really needed.

Key Takeaways

NRI fixed deposits offer you a stable return on foreign earnings via NRE, NRO and FCNR accounts. The interest rates vary from bank to bank and also vary from tenure to tenure. Hence, it is always better to compare top FD rates in India before investing. Suryoday Small Finance Bank offers up to 8.10% p.a., while IDFC FIRST Bank provides up to 7.35% p.a. among private banks and Bank of India offers up to 6.70% p.a. among public sector banks. There are factors such as rates, liquidity, deposit type and reliability of the institution that investors can consider to preserve their investment, create income and reach their long-term financial objectives.