What is an IDFC First Bank NRE Fixed Deposit?
The IDFC First Bank NRE FD is a safe investment product in which Non-Resident Indians (NRIs) deposit foreign currency with the bank for a predetermined period and earn interest. The interest earned is in Indian rupees, thus leading to the management of funds in Indian rupees. The NRE interest rates are tax -free in India, and are fully repatriable. It ensures that the amount in an NRE FD can be transferred back to the investor’s Indian account without any hassle.
Rate of Interest on IDFC First Bank NRE FD Account Deposits
IDFC First Bank offers a wide range of interest rates on NRE FDs for different time periods:
Less than ₹3 crore
| Tenure |
Rate of Interest |
| 1 year |
6.30% |
| 1 year 1 day to 370 days |
6.30% |
| 371 days – 449 days |
6.50% |
| 450 days – 2 years |
7.00% |
| 2 years 1 day – 5 years |
7.00% |
| 5 years 1 day – 10 years |
6.00% |
| 5 Years (Tax Saver Deposit) |
7.00% |
| 375 days (only for Green Domestic Deposits) |
6.50% |
*IDFC First Bank NRE FD Rates w.e.f. 4th November 2025 IDFC First Bank NRE FD rates are subject to change without prior notice. The minimum tenor is 1 year. For up to 180 days, rates are payable on a “simple interest” basis, and after that, are payable/compounded every quarter.
What are the Benefits of an IDFC First Bank NRE FD Account?
The IDFC First Bank NRE FD account offers its customers various benefits, including:
- Enjoy competitive NRE FD rates with an IDFC First Bank NRE Account
- Minimum deposit amount is as low as ₹1,000.
- Favourable exchange rates help your investments grow bigger.
- Auto-renewal of FD saves you the time of visiting the bank repeatedly.
- To meet diverse individual requirements, the bank offers flexible deposit periods spanning from 1 year to 10 years.
Eligibility Criteria for an IDFC FIRST Bank NRE FD
If your resident status belongs to any of the following categories and you have an active NRI account (NRE/NRO), you are eligible to open an NRE FD account with IDFC First Bank.
- Non-Resident Indians
- Person of Indian Origin (PIO)
- Overseas Citizen India (OCI)
- Seafarers working on International Vessels
- Oil Rig Employees working on International Offshore Projects
- Rig Employees working on International Offshore Projects
Documents Required to Open an IDFC First Bank NRE FD Account
The documents to be submitted for opening an IDFC First Bank NRE FD account are:
-
ID proof:
- Passport
- Non-resident status proof (any one):
- Visa
- Foreign passport with PIO declaration
- PIO card
- Continuous Discharge Certificate with a valid contract letter for seafarers
- Resident permit
-
Overseas address proof (Any one along with your overseas address):
- Passport
- driving license
- Government-issued IDs
- Latest utility bill (mobile/gas/electricity/telephone)
- Up-to-date savings bank account statement from a transactional account
- Council tax bill, resident permit, or voter ID.
-
Tax-related:
- PAN card or Form 60
- FATCA-related fields on the application form
-
Other Important documents:
- Recent colour photograph
- Signature Image (Online Use Only)
-
Certified Documents:
When not met by an IDFC FIRST Bank employee, you are to ensure your passport and address proof copies are certified by any one of the following entities from your country of residence (overseas):
- Overseas Bank partnered with an Indian Bank
- Notary
- Overseas branch of Indian Bank
- Court Magistrate or Judge
- Indian Embassy
Conclusion
IDFC First Bank NRE FD rates ensure guaranteed financial growth on investments. The interest earned up to 7.00% is fully exempt from tax deductions, making it a popular investment choice for NRIs. With detailed information on IDFC NRE FD rates, you can align your investments with your financial goals and grow them.
Invest 18k/month & get 2 Crore# Tax-Free*
Manage your funds online60k + happy customers across 25+ countries
Compare & Choose30+ Plans and 150+ Fund options
