What is a Bank of Baroda NRE Fixed Deposit?
The Bank of Baroda NRE FD is a financial product under which Non-Resident Indians invest money for a predetermined time and earn interest on it. The interest earned on the fixed deposit is exempt from tax, and the FD funds are fully repatriable, ensuring that the amount in an NRE FD can be transferred back to the investor’s home country account without any hassle. Bank of Baroda NRE FD ensures easy investment by NRIs, resulting in secured financial growth.
Rate of Interest on Bank of Baroda Non-Resident External (NRE) FD Account Deposits
The interest rates received on Bank of Baroda NRE Fixed Deposit accounts amounting to above 1 crore to less than ₹3 crore are as follows:
| Tenors |
ROI (%) for amounts Above 1 crore to less than ₹3 crore |
| 1 year |
6.90 |
| Above 1 year to 400 days |
7.05 |
| Above 400 days and up to 2 Years (except 444 Days) |
7.05 |
| Above 2 Years and up to 3 Years |
7.20 |
| Above 3 Years and up to 5 Years |
6.85 |
| Above 5 Years and up to 10 Years |
6.55 |
| BoB Square Drive Deposit Scheme (444 Days) |
7.20 |
Note: These are non-callible interest rates, effective from April 7, 2025. Bank of Baroda NRE FD rates are subject to change without prior notice.
The fixed deposit interest rates received on Bank of Baroda NRE fixed deposit accounts amounting to less than ₹3 crore are as follows:
| Tenors |
ROI (%) for amounts less than ₹3 crore |
| 12 months |
6.85 |
| 18 months |
7.00 |
| 777 days |
7.15 |
| 1111 days |
6.80 |
| 1717 days |
6.80 |
| 2201 days |
6.50 |
Note: These are non-callible interest rates, effective from April 7, 2025. Bank of Baroda NRE FD rates are subject to change without prior notice.
The interest rates received on Bank of Baroda NRE Fixed Deposit accounts amounting to ₹3 crore to ₹10 crore are as follows:
| Tenors |
ROI (%) for amounts ₹3 crore to ₹ 10 crore |
| 12 months |
7.10 |
| 18 months |
6.55 |
| 777 days |
6.05 |
| 1111 days |
5.55 |
| 1717 days |
5.55 |
| 2201 days |
5.05 |
Note: These are non-callible interest rates, effective from April 20, 2025. Bank of Baroda NRE FD rates are subject to change without prior notice.
Why Choose a Bank of Baroda NRE FD Account?
The Bank of Baroda NRE FD account offers its customers various benefits, including:
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Auto-renewal of FD saves you the time of visiting the bank repeatedly.
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Reinvestment of cumulative interest into your principal amount results in higher returns.
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Interest on NRE FD is paid on a quarterly basis, providing a form of regular income.
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Deposit receipts are kept safely in the Bank’s safe custody without any charges.
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To meet diverse individual requirements, the bank offers flexible deposit periods spanning from 1 year to 10 years.
What Are the Eligibility Criteria for a Bank of Baroda NRE FD Account?
In order to invest in the Bank of Baroda NRE FD account, the following conditions must be fulfilled:
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The customer must fall under one of the following categories: NRI, PIO, OCI, Indian seafarer, Indian government employees with a diplomat’s passport, or student studying abroad.
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Must have valid ID including Indian passport and PIO card.
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Required to show authentic overseas address proof.
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Must present valid proof, including a student visa or employment visa.
Documents Required to Open Bank of Baroda NRE FD Account
The general documents required for opening a Bank of Baroda NRE FD account are:
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Documents to be Submitted by NRIs
At the time of submitting an application to open an NRE FD account at Bank of Baroda, the following duly signed documents are to be submitted:
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Documents to be Submitted by OCIs/PIOs
While submitting an application to open an NRE FD account at Bank of Baroda, the following duly signed documents are required:
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Documents to be Submitted by Students
Students, while submitting an application to open an NRE FD account at Bank of Baroda, have to attach the following duly signed documents:
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Documents for Seafarers
Seafarers, while submitting an application to open an NRE FD account at Bank of Baroda, should have the following duly signed documents:
Conclusion
The Bank of Baroda NRE FD rates offered for NRIs are much higher than the interest rates offered by savings accounts. One of the most convenient ways for NRIs to judiciously invest and grow their earnings from abroad is by investing in a Bank of Baroda NRE FD account. With complete information on NRE FD interest rates, you can invest and grow your savings rapidly.
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