What is City Union Bank NRE Fixed Deposit?
The City Union Bank NRE FD is a Fixed Deposit facility offered by the City Union Bank, especially designed for Non-Resident Indians (NRIs) to invest their foreign earnings in safe investment options and earn interest on them. The interest earned on the 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.
Rate of Interest on City Union Bank NRE FD Account Deposits
City Union Bank provides a variety of interest rates for NRE FDs across different time periods (tenors). The interest rates received on City Union Bank NRE fixed deposit accounts amounting to less than ₹3 crore are as follows.
| Period |
Interest Rate (%p.a.) Above 1 Cr to below 3 Crs |
| 365 days |
7.50% |
| 366 days to 3 Years |
7.10% |
| Above 3 Years up to 10 Years |
6.25% |
Note: These non-premature withdrawal NRE FD interest rates are effective from April 2025. City Union Bank NRE FD rates are subject to change without prior notice.
The interest rates received on City Union Bank NRE fixed deposit accounts amounting to ₹3 crore to more than ₹10 crores are as follows:
| Period |
Interest Rate (% per annum) ₹3 Cr to ₹10 Cr |
| Rs. 3 Cr to < Rs. 30 Cr |
Rs. 30 Cr to 500 Cr |
| 365 Days |
7.35% |
7.40% |
| 366 Days up to 10 years |
-- |
-- |
Note: These non-premature withdrawal NRE FD interest rates are effective from April 24, 2025. City Union Bank NRE FD rates are subject to change without prior notice.
What are the Advantages of a City Union Bank NRE FD Account?
The City Union Bank NRE FD account offers its customers various advantages, including:
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City Union Bank NRE FDs can be held jointly with another Non-Resident (on an Either or Survivor / Former or Survivor basis) or with a Resident close relative (on a Former or Survivor basis).
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City Union Bank provides FREE CUB Net banking to view the deposits from the convenience of your home.
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NRE FD is maintained in Indian rupees, saving the funds from foreign exchange rate fluctuations.
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Enjoy ZERO Service Fees on Foreign Inward Transfers.
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The bank’s NRE FD offers higher interest rates than those of a savings account.
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To meet diverse individual requirements, the City Union Bank offers flexible deposit periods spanning from 1 year to 10 years.
What Are the Eligibility Criteria for a City Union Bank NRE FD Account?
In order to invest in the City Union Bank NRE FD account, the following conditions must be fulfilled:
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Non-Resident Indians
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Overseas Citizen India (OCI)
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Person of Indian Origin (PIO)
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Seafarers working on International Vessels
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Students studying abroad
How to Open a City Union Bank NRE FD Account?
To open an account and get good City Union NRE FD rates, the following steps are to be followed:
For Existing City Union Bank Customers
By using CUB Personal Netbanking, customers can open their City Union Bank NRE FD Account.
Step 1:
Visit the City Union Bank’s official website,
Step 2:
Go to the NRI section,
Step 3:
Click on fixed deposit NRE,
Step 4:
Click on Personal Banking under the Login section,
Step 5:
Enter User ID
Step 6:
Follow the steps mentioned by the bank further.
Documents Required to Open City Union Bank NRE FD Account
The general documents to be submitted for opening a City Union Bank NRE FD account are:
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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, PIO or OCI status
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PAN/Form 60
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FATCA Information
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Overseas work/residence proof (visa/permit)
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Passport-size photograph
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Any other document required by the bank
Conclusion
City Union Bank NRE FD rates provide customers with the best investment methods to grow their savings in the most convenient way. Interest earned is exempt from tax deductions, and the maturity funds are easily repatriable. The NRE FD can be opened jointly so that beneficiaries have easy access to the funds in case of unforeseen circumstances. Knowing the City Union NRE rates is the first step to investing in this secure investment account so that you can align your investments according to your financial aspirations.
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