What is an HDFC NRE Fixed Deposit?
The HDFC NRE FD is a financial product offered by the HDFC Bank under which the Non-Resident Indians (NRIs) can deposit a certain amount for a predetermined period of time within the bank through their Non-Resident External (NRE) account and earn interest on the same. The interest earned from the deposits is tax-free and completely repatriable.
HDFC Bank Interest Rates on Non-Resident External (NRE) FD Account Deposits
The HDFC bank NRE FD rates are as follows:
| Tenor |
< 3 Crore |
≥ 3 Crore- < 5 Crore |
|
Interest Rate (per annum) |
Interest Rate (per annum) |
| 7 - 14 days |
3.00% |
4.75% |
| 15 - 29 days |
3.00% |
4.75% |
| 30 - 45 days |
3.50% |
5.50% |
| 46 - 60 days |
4.50% |
5.75% |
| 61 - 89 days |
4.50% |
6.00% |
| 90 days < = 6 months |
4.50% |
6.50% |
| 6 months 1 days < = 9 months |
5.75% |
6.65% |
| 9 months 1 day to < 1 year |
6.00% |
6.80% |
| 1 year to < 15 months |
6.60% |
6.95% |
| 15 months to < 18 months |
7.05% |
6.95% |
| 18 months to < 21 months |
7.05% |
6.95% |
| 21 months - 2 years |
6.70% |
6.95% |
| 2 Years 1 day to < 2 Year 11 Months |
6.90% |
6.80% |
| 2 Years 11 Months - 35 Months |
6.90% |
6.80% |
| 2 Years 11 Months 1 day < = 3 Year |
6.90% |
6.80% |
| 3 Years 1 day to < 4 Years 7 Months |
6.75% |
6.80% |
| 4 Year 7 Months - 55 months |
6.75% |
6.80% |
| 4 Year 7 Months 1 day < = 5 Years |
6.75% |
6.80% |
| 5 Years 1 day - 10 Years |
6.50% |
6.80% |
Note: *Rates mentioned above are effective from April 19, 2025. The interest rates are subject to change.
The minimum tenor is 1 year. After completion of 2 years, the tenor for amounts ≥ ₹3 Crore and < ₹5 Crore typically ranges across three categories of time periods: 2 years 1 day to 3 years, 3 years 1 day to 5 years, and 5 years 1 day to 10 years.
Why Choose HDFC Bank NRE Fixed Deposits?
The HDFC NRE FD rates provide you with benefits, including:
-
Higher interest rates than a savings account.
-
Interest received on the deposits is non-taxable.
-
Availability of nomination facilities.
-
Wide range of deposit tenors, from 1 year to 10 years.
-
A joint account can be opened with any other Non-Resident Indian.
-
Facility of full repatriation of both the principal and earned interest, so the account holder can transfer their money completely any time they want.
What Are the Eligibility Criteria for an HDFC NRE FD Account?
The following conditions are to be fulfilled, and the documents are to be submitted, in order to open an HDFC NRE FD account:
-
The candidate must be a non-resident individual of Indian origin
-
One copy of a valid passport
-
A document to verify Indian and overseas addresses
-
Proof to establish PIO status (if applicable)
-
A passport-size photograph
-
A Form 60 or PAN card
-
Self-attested PIO declaration
How to Open an HDFC NRE FD Account?
To open an account to get good HDFC NRE FD rates, the following steps are to be followed:
-
Apply Online Through the HDFC Website:
-
Go to the HDFC bank's website and search the NRI FD section.
-
Click on 'Apply Now' and choose the type of FD you want.
-
Fill out the online form. You might find an 'apply' button directly on the FD product page.
-
Once the form is submitted, a bank representative will contact you.
-
They will come to your location to collect the necessary documents and help you open your account.
-
Call Back Option:
-
Call the bank's customer care number or enter your details to request a call back.
-
A bank representative will guide you through the account opening process over the phone.
-
Similar to the online application, they will arrange to collect your documents from your home.
-
Your account will then be opened.
-
Offline Account Opening:
-
Go to the bank's website and download the NRI FD application form.
-
Fill out the printed form.
-
Submit the filled form to your nearest bank branch.
-
The bank will soon process your account opening.
-
If you are outside India, you might be able to submit the forms at a partner branch of the bank in your country or drop them in a bank mailbox in your area.
-
Through Internet Banking (for existing customers):
-
If you already have an NRE account with the bank, log in to their NetBanking website or Mobile Banking App.
-
Look for the option to apply for an NRI FD online and follow the instructions.
Documents Required to Open HDFC NRE FD Account
To open the HDFC NRE FD account, the following documents are to be submitted by you for the bank to review before opening your NRE FD account:
-
Passport copies (key pages, self-signed).
-
Overseas work/residence proof (visa/permit).
-
Address proofs (India & overseas).
In Case of Applying Abroad:
-
The documents mentioned above are to be submitted, but also officially verified by a banker, notary, or embassy/consulate.
Funding Proof:
Conclusion
The HDFC Bank NRE FD rates offered for NRIs are much higher than the interest rates offered by savings accounts. These earnings are exempt from tax deductions. The HDFC NRE FD is one of the best ways to make a secure and guaranteed return on investment. With complete information on NRE FD interest rates, you can invest and grow your savings rapidly.
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