BOI NRE Term Deposit Account
BOI NRE Term Deposit Account is a fixed deposit account offered by the Bank of India specifically for Non-Resident Indians (NRIs). NRIs can invest their money for a fixed term at a predetermined interest rate. The deposit earns interest throughout the term, and the principal amount, along with the accrued interest, is returned at maturity.
Returns as high
as 7.1%*
Includes life cover
Completely Tax free+
as 7.1%*
Includes life cover
Completely Tax free+
Maximum returns Offered by
Guaranteed
Highest
7.1%*
Guaranteed Plan
(by insurance companies)
(10 Years)
6.5%**
Fixed Deposits
(by SBI bank)
(5-10 Years)
7.1%***
Public Provident Fund
(other popular options)
(15 Years)
Get Guaranteed returns up to 7.1%*
Fully Tax-Free* (unlike FD), Life Cover Included
- Home
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- BOI NRE Term Deposit Account
FD Interest Rates for NRE Rupee Term Deposits For Less Than Rs.3 Cr and For Rs.3 Cr & Above But Less Than Rs.10 Cr
| Maturity | For Deposits Of Less Than Rs.3 Cr. | For Deposits Of Rs.3 Cr & Above But Less Than Rs.10 Cr |
| Rate w.e.f 30.06.2024 | Rate w.e.f 01.04.2024 | |
| 1 Year | 6.80 | 7.25 |
| Above 1 Year to less than 2 Years (except 666 Days) | 6.80 | 6.75 |
| 666 days | 7.30 | 6.75 |
| 2 Years | 6.80 | 6.50 |
| Above 2 Years to less than 3 Years | 6.75 | 6.50 |
| 3 Years to less than 5 Years | 6.50 | 6.00 |
| 5 Years to less than 8 Years | 6.00 | 6.00 |
| 8 years & above to 10 Years | 6.00 | 6.00 |
Minimum Deposit Amount for above maturities and bucket is Rs.10,000/- except court orders/special deposit categories
FD Interest Rates for Deposits of Rs.10 Cr & Above
Please contact the nearest Branch for the rate of interest on deposits of Rs.10 cr & above
People also read: Bank Of India FD Interest Rates
Comparison Between
Guaranteed Return Plans
Returns Before Tax
7.5% (TAX-FREE)
Returns After Tax
7.5%
Guaranteed Returns
Yes
Life Cover
Yes
Tax on Profit
Tax Free*
Risk
No Risk
Still Better than FD’s and Debt Mutual Fund
Fixed Deposits
Returns Before Tax
7% (TAXABLE)
Returns After Tax
4.8%
Guaranteed Returns
Yes
Life Cover
No
Tax on Profit
Taxable
Risk
Low Risk
Debt Mutual Fund
Returns Before Tax
8% (TAXABLE)
Returns After Tax
5.5%
Guaranteed Returns
No
Life Cover
No
Tax on Profit
Taxable
Risk
High Risk
*For annual premium upto ₹5 Lacs
Annualized Rates
Below are the annualised rates for:
-
For deposits less than Rs.3 Cr
-
For deposits of Rs.3 Cr & above but less than Rs.10 Cr
For Deposits Less Than Rs.3 Cr
| Maturity | Rate Of Interest % (P.A.) | Annualized Rate Of Return At Minimum Of The Maturity Bucket % |
| 1 Year | 6.80 | 6.98 |
| Above 1 Year to less than 2 Years (except 666 Days) | 6.80 | 6.98 |
| 666 Days | 7.30 | 7.50 |
| 2 Years | 6.80 | 7.22 |
| Above 2 Years to less than 3 Years | 6.75 | 7.16 |
| 3 Years to less than 5 Years | 6.50 | 7.11 |
| 5 Years to less than 8 Years | 6.00 | 6.94 |
| 8 years & above to 10 Years | 6.00 | 7.63 |
For Deposits Of Rs.3 Cr & Above But Less Than Rs.10 Cr
| Maturity | Rate Of Interest % (P.A.) | Annualized Rate Of Return At Minimum Of The Maturity Bucket % |
| 1 Year | 7.25 | 7.45 |
| Above 1 Year to less than 2 Years (except 666 Days) | 6.75 | 6.92 |
| 666 Days | 6.75 | 6.92 |
| 2 Years | 6.50 | 6.88 |
| Above 2 Years to less than 3 Years | 6.50 | 6.88 |
| 3 Years to less than 5 Years | 6.00 | 6.52 |
| 5 Years to less than 8 Years | 6.00 | 6.94 |
| 8 years & above to 10 Years | 6.00 | 7.63 |
For deposits of Rs.10 Cr & above
Please contact nearest Branch.
People also read: FD Interest Rates
Features of BOI NRE Term Deposit Account
Here are the features of BOI NRE Term Deposit Account:
-
Repatriation: Freely Repatriable
-
Currency of Deposit: Indian Rupees(INR)
-
Deposit Period: 12 months to 120 months (10 years)Â
-
Interest Rate: Rate as advised by Bank from time to time as per stipulated guidelines and will be displayed on the website
-
Taxation: Exempt from Income Tax
FD interest rates India have fallen consistently over the last 12 years.
People also read: FD Calculator
Who Can Open An Account Under BOI NRE Term Deposit Account?
-
Eligibility: NRIs (Non-Resident Indians)
-
Individuals/entities of Bangladesh or Pakistan nationality/ownership require prior approval from RBI.
-
Joint account: Permitted
-
Nomination: Facility available
People also read: Which Bank is Best for Fixed Deposit
Premature Withdrawal
-
Less than 12 months: No interest is payable, but there is no penalty.
-
12 months and above:
-
Deposits below Rs. 5 lakh: No penalty.
-
Deposits of Rs. 5 lakh and above: Penalty of 1.00% if withdrawn prematurely.
-
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*All savings are provided by the insurer as per the IRDAI approved
insurance plan. Standard T&C Apply
+ Trad plans with a premium above 5 lakhs would be taxed as per
applicable tax slabs post 31st march 2023
#Discount offered by insurance company
~Source - Google Review Rating available on:- http://bit.ly/3J20bXZ
†Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by any insurer. This list of plans listed here comprise of insurance products offered by all the insurance partners of Policybazaar. The sorting is based on past 10 years’ fund performance (Fund Data Source: Value Research). For a complete list of insurers in India refer to the Insurance Regulatory and Development Authority of India website, www.irdai.gov.in
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