Rate of Interest on Central Bank of India Non-Resident External (NRE) FD Account Deposits
NRE FD interest rates are competitive and offer stable returns. The interest rates received on Central Bank of India NRE Fixed Deposit accounts amounting to less than ₹3 crore and ₹3 crore to ₹10 crore are as follows:
| Maturity Period |
Interest rates (%p.a.) Less than ₹3 Crore |
Interest rates (%p.a.) ₹3 Crore to ₹10 Crore (Single Deposit) |
| 1 year to less than 2 years |
6.85 |
6.75 |
| 2 years to less than 3 years |
7.15 |
6.75 |
| 3 years to less than 5 years |
6.75 |
6.25 |
| 5 years & above up to 10 years |
6.75 |
6.00 |
Note: Interest rates are effective from April 2025. Central bank of India NRE FD rates are subject to change without prior notice.
Special Term Deposit Interest Rates
| Period (days) |
Interest Rates (%p.a.) (Deposits above ₹ 1 Cr.) |
| 444 |
7.45 |
| 555 |
7.25 |
| 999 |
6.65 |
Note: These are non-callable interest rates, effective from April 2025. Central bank of India NRE FD rates are subject to change without prior notice.
Why Choose a Central Bank of India NRE Account?
The Central Bank of India NRE account offers its customers various benefits, including:
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The Central Bank of India NRE FDs are held in Indian Rupees, thus shielding your funds from foreign exchange rate volatility.
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The bank recognizes varied individual needs, and it provides flexible deposit tenures ranging from 1 to 10 years.
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The Central Bank of India NRE FDs offer tax advantages on the interest accrued.
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The Central Bank of India NRE FD accounts offer nominee facilities.
What Are the Eligibility Criteria for a Central Bank of India NRE FD Account?
The following conditions are to be fulfilled in order to open a Central Bank of India NRE FD account:
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The candidate must be a non-resident individual of Indian origin.
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The candidate must belong to the category of a foreign national or a foreign national student.
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A document to verify Indian and overseas addresses.
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Must have one copy of a valid passport.
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Proof to establish NRI, foreign national, foreign national student, PIO, or OCI status.
How to Open a Central Bank of India NRE FD Account?
Existing or new customers who have qualified for NRI eligibility can open an NRE account by visiting a bank branch or sending scanned documents, including the account opening form, to the Central Bank of India first, and then open an NRE FD account. Applicants are requested to follow the bank's instructions to book an NRE FD with the bank.
Documents Required to Open a Central Bank of India NRE FD Account
To open a Central Bank of India NRE FD account, the following general documents are to be submitted by you for the bank to review before opening your NRE FD account:
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ID proof: Passport
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Address proof (India & overseas)
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Proof of Tax
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Proof of NRI, foreign national, foreign national student, Seafarer, PIO or OCI status
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Overseas work/residence proof (visa/permit)
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Copy of PAN or Form 60
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Copy of Aadhar (In case the customer avails)
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FATCA Form
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CRS Declaration
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Passport-size photograph
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Any other document required by the bank.
Conclusion
A secure way for NRIs to invest their money and grow it is through an NRE FD account. There are several investment options for NRIs, but one of the easiest ways for them to judiciously invest and grow their earnings from abroad is by investing in a NRE FDs. You can manage your funds in India without much hassle. With complete information on Central Bank of India NRE FD rates, you can invest and grow your savings rapidly.
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