NRI Fixed Deposit Rates in India

What is a Fixed Deposit?

A Fixed Deposit (FD) is a savings instrument offered by banks and financial institutions where a lump sum amount is invested for a fixed tenure at a predetermined interest rate. In FD, the tenure can be as short as 7 days and as long as 10 years, and the FD interest rate stays the same during the length of investment. At maturity investors receive the principal plus the accrued interest. FDs have thus become a popular source of consistent returns.

Top 10 Banks Offering Best NRI FD Rates – Highest FD Rates Online 2026

Non-Resident Indians (NRIs) can invest in fixed deposits through NRE, NRO, and FCNR accounts offered by leading Indian banks. Some of the most popular banks offering NRI fixed deposit services in India are shown in the table below for deposits up to ₹5 crores:

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

NRI FD Rates of Top Public Sector Banks in India

For NRIs, public sector banks are preferred due to their robust presence throughout India, their reputation and their dedicated banking services. Check the latest NRI FD rates across some of the popular banks for deposits up to ₹5 crores:

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

NRI FD Rates of Top Private Sector Banks

Private sector banks provide a wide range of deposit choices for NRI such as digital banking, flexible tenures and hassle-free account maintenance. Following rates are aligned to NRIs fixed deposits in some of the top 10 private sector banks for deposits up to ₹5 crores:

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

NRI FD Rates Offered by SFBs, Foreign Banks, & NBFCs

Apart from conventional banks, there are Small Finance Banks, foreign banks and NBFCs as well, which offer fixed deposit choices which can suit the investing preferences of NRIs. These are NRI FD rates for deposits up to ₹5 crores:

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

Types of Fixed Deposit Rates in India for NRIs

There are different ways for NRIs to invest in fixed deposits in India and each of these has its own interest rates and benefits. The principal types are:

1. NRE Fixed Deposits

   Non-Resident External (NRE) Fixed Deposits allow NRIs to invest their earnings in foreign countries in Indian rupees. The principal and interest can be repatriated in full and the interest received is usually non-taxable in India.

2. NRO Fixed Deposits

   Non-Resident Ordinary (NRO) Fixed Deposits are typically meant to deal with the income that you receive in India, for instance, rent, profits, or pension. NRO FDs are taxable in India and repatriation will have some restrictions.

3. FCNR Fixed Deposits

   Foreign Currency Non-Resident (FCNR) fixed deposits enable NRIs to maintain deposits in designated foreign currencies such as USD, GBP, EUR, and others. The deposit stays in foreign currency, so there will be no exchange rate risk between the currency in which the deposit is made and the Indian rupee.

FD Rates in India for NRIs Based on Different Deposit Types

The NRI fixed deposit rates vary with the type of account selected. Both NRE and FCNR deposits are offered by most banks. Meanwhile, some banks also provide Resident Foreign Currency (RFC) deposit facilities, which allow returning NRIs to hold funds in foreign currencies. Below are some top banks that provide these types of deposits:

NRE FD Rates Offered by Leading Banks in India

NRE fixed deposits are among the most popular investment options for NRIs due to their repatriability and tax benefits. Here are the banks that provide NRE fixed deposits with different maturities:

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

FCNR Deposit Interest Rates Offered by Indian Banks

The FCNR deposits are fixed deposits opened in specified foreign currencies by NRIs to hedge their risks against fluctuations in foreign exchange rates. The following table lists the FCNR deposit interest rates (% p.a.) of multiple banks:

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

RFC Deposit Interest Rates Offered by Indian Banks

RFC deposits are designed for returning NRIs who wish to hold foreign currency deposits after becoming residents in India. Select banks offer RFC deposit rates (% p.a.) for multiple currencies.

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

Benefits of Fixed Deposits for NRIs in India

Consider the following key benefits that are provided for investing in fixed deposits in India for NRIs:

• High Interest Rates: There are some of the best FD rates in India for NRIs offered by many banks, NBFCs, SFBs or Foreign banks. The rates are subject to market conditions and regulations of RBI and may vary depending on the banks.
• Stable and Assured Returns: FDs provide a fixed rate of interest throughout the duration of investment; so, NRIs are assured of returns on their investments. This is dependable thus it makes financial planning easier and there is consistent income.
• Flexible Tenure Options: FDs for NRIs typically have different tenures, which can vary between a few months and several years. The NRIs have an option to select the tenure as per their requirements.
• Flexible Currency Options: NRIs can invest in FDs in various currencies like USD, GBP, EUR etc. They have the flexibility of depositing their money in the currency of their choice.
• Repatriability: NRIs can opt between repatriable and non-repatriable FDs. In the case of repatriable FDs the principal amount and interest earned can be transferred freely to the NRI's foreign account, whereas the non-repatriable FDs have limited repatriation options.
• Nomination Facility: NRIs can nominate a person to receive the deposit. This will help ensure that the nominated person receives funds easily.
• Automatic Renewal: Some of the banks offer NRI FD with auto renewal feature. Your FD would be renewed automatically for the same period until you instruct the NRI otherwise.

Eligibility Criteria for Fixed Deposit

The following types of people can normally open a Fixed Deposit (FD) in India:

• Resident Individuals: Salaried employees, the self-employed, homemakers and retirees who are inhabitants of India.
• Minors: FDs can be opened in a minor's name through a parent or legal guardian.
• Senior Citizens: Individuals aged 60 years and above can open senior citizen FDs and may receive higher fixed deposit interest in India.
• NRIs: Non-Resident Indians can invest in NRE, NRO, and FCNR fixed deposits, subject to applicable regulations.
• HUFs: Hindu Undivided Families (HUFs) are eligible to open fixed deposits in the name of the family entity.
• Entities and Organisations: Partnership firms, trusts, societies, associations, clubs and enterprises can also invest in fixed deposits as per the bank’s terms and documentation requirements.

Documents Required To Open a Fixed Deposit Account

Here is the list of must-have documents for opening a Fixed Deposit Account with the best FD rates in India for NRIs:

How to Open a Fixed Deposit Account?

NRIs are able to open an NRE, NRO or FCNR Fixed Deposit account through online or offline channels.

Online Method

Read the procedure to open an NRI FD account online via Internet or Mobile Banking below.

• Log in to NRI Banking Portal: Internet/ Mobile Banking login.
• Click on Fixed Deposit Option: Select NRE FD, NRO FD or FCNR FD.
• Fill out the Deposit Details: Deposit amount, tenure and interest payout method.
• View Terms & FD Rates: Visit the interest rates and maturity information of the applicable FDs.
• Confirm & Fund FD: Approve and transfer funds from linked NRI account.
• Digital creation, digital receipt of FD: FD is created and receipt is issued electronically.

Although all major private banks are processing all bookings digitally, some small banks and NBFCs (Shriram Finance) are not 100% digital and still go through the process offline.

Offline Method

The process of opening an NRI FD via the branch or authorised channel is as follows:

• Visit Branch / Office: Visit the bank branches / authorised NRI branches.
• Fill Application Form: Submit the application form for NRE/NRO/FCNR.
• Submit KYC Documents: Passport, Visa / Residence Proof, Pan (if any), Address Proof.
• Click on FD Details: Select tenure and interest payout option.
• Fund Transfer: Transfer money through prescribed avenues for NRI.
• Verification & FD Issuance: Bank verifies the application and issues FD receipt.

How to Choose the Right Fixed Deposit?

When selecting an FD, it is not always about the highest interest rate. The necessity is to balance returns, liquidity, safety and tax impact, based on your financial goal and deposit type.

• Match Tenure With Your Financial Goal: Keep the financial goal in mind, while the short tenure helps you with liquidity requirements, the long tenure will help you achieve a compounded return on investment.
• Know Withdrawal Flexibility: Check whether FD can be called or not. Callable FDs have flexibility, on the other hand, non-callable FDs can provide you with better returns but you will be locked up.
• NBFC vs Bank stability: Banks’ Fixed Deposits are safe and reliable. Interest rates may be better for NBFC FDs but require due investigation such as checking credit ratings.
• Consider Tax Impact on Returns: Most of the time, the interest on FD is taxable and hence the actual returns are reduced. Never judge by a post tax rate, but rather by post tax earnings.
• Consider Interest Payout Structure: Cumulative FDs benefit from compounding, so the returns will be higher while monthly/quarterly dividends provide consistent income but the overall returns will be lower.
• Check Credit Rating: Before investing in NBFC FD, always check the credit rating of FD instruments. It is preferable to invest in high rated FD instrument (AAA or equivalent) to minimise risk exposure.

Why Invest in Fixed Deposits?

Know why it remains a secure and reliable investment option for individuals seeking consistent returns in unpredictable markets.

• Fixed Interest Rates Even in Volatile Markets: Unlike stocks, FDs are not impacted by the market fluctuations and their interest rates are locked in at the time of investment.
• A High Capital Safety with Low Risk: FDs are considered as a safer investment option when compared to the market-linked securities, particularly during times of economic turmoil or volatility.
• Need for Stable Income Planning: For disciplined financial planning FDs offer regular income options with monthly, quarterly or cumulative income.
• Better Returns for Certain Investor Groups: FDs may be more profitable for certain investor groups such as for senior citizens and long-term investors, who can avail better interest rates on FDs in India.
• Emergency-Ready Liquidity Option: Although the FD has a fixed tenure period, investors can withdraw money even before the maturity period if they face an emergency without any specific rules and penalties imposed by the bank.
• Preserve Capital: FDs can help preserve more during times of inflation, recession or during times of unstable equity markets.

Key Takeaways

Fixed deposits are a popular investment option among Non-Resident Indians (NRIs) seeking stable returns and capital protection. Many Indian banks offer deposit schemes tailored to NRIs, allowing them to earn interest on their savings over a fixed tenure. These can go up to 7.35%, depending on the private or public sector bank. While in case of NBFCs or Small Finance Banks the rates are more at higher end, that is up to 8.10% p.a. When evaluating fixed-income opportunities globally, some investors also compare CD rates offered in other currencies as well to assess relative yield potential.