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 on it. The interest earned is in Indian rupees, thus leading to the management of funds in Indian rupees. 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 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 (tenors). The interest rates received on IDFC First Bank NRE fixed deposit accounts amounting to less than ₹3 crore are as follows:
| Tenors |
ROI (%) for amounts less than ₹3 crore |
| 7 - 14 days |
3.00% |
| 15 - 29 days |
3.00% |
| 30 - 45 days |
3.00% |
| 46 - 90 days |
4.50% |
| 91 - 180 days |
4.50% |
| 181 days - less than 1 Year |
5.50% |
| 1 year |
6.25% |
| 1 year 1 day - 370 days |
6.75% |
| 371 days to 399 days |
7.00% |
| 400 days to 500 days |
7.25% |
| 501 days - 2 years |
6.75% |
| 2 years 1 day - 3 years |
6.25% |
| 3 years 1 day - 5 years |
6.00% |
| 5 years 1 day - 10 years |
6.00% |
Note:These non-premature withdrawal NRE FD interest rates are effective from 1st May 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, compounded on a quarterly basis.
The interest rates received on IDFC First Bank NRE fixed deposit accounts amounting to ₹3 crore to ₹25 crore are as follows:
| Tenors |
Interest Rate (% per annum) |
| ₹3 crore to ₹5 crore |
₹5 crore to ₹10 crore |
₹10 crore to ₹15 crore |
₹15 crore to ₹25 core |
| 7 - 14 days |
4.75% |
4.75% |
4.75% |
4.75% |
| 15 - 35 days |
4.90% |
4.90% |
4.90% |
4.90% |
| 36 - 45 days |
5.65% |
5.65% |
5.65% |
5.65% |
| 46 - 60 days |
5.90% |
5.90% |
5.90% |
5.90% |
| 61 - 91 days |
6.40% |
6.40% |
6.40% |
6.40% |
| 92 - 180 days |
6.85% |
6.85% |
6.85% |
6.85% |
| 181 - 270 days |
6.90% |
6.90% |
6.90% |
6.90% |
| 271 - 365 days |
6.95% |
6.95% |
6.95% |
6.95% |
| 366 - 399 days |
7.05% |
7.05% |
7.05% |
7.05% |
| 400 - 499 days |
6.90% |
6.90% |
6.90% |
6.90% |
| 500 - 540 days |
6.90% |
6.90% |
6.90% |
6.90% |
| 541 - 731 days |
6.90% |
6.90% |
6.90% |
6.90% |
| 732 - 1095 days |
6.80% |
6.80% |
6.80% |
6.80% |
| 3 years 1days - 5 years |
6.90% |
6.90% |
6.90% |
6.90% |
| 5 Year 1 Day - 8 Years |
6.80% |
6.80% |
6.80% |
6.80% |
| 8 Year 1 Day - 10 Years |
6.80% |
6.80% |
6.80% |
6.80% |
Note: These non-premature withdrawal NRE FD interest rates are effective from April 24, 2025. IDFC First Bank NRE FD rates are subject to change without prior notice.
The fixed deposit interest rates received on IDFC First Bank NRE fixed deposit accounts amounting to more than ₹25 crore to above ₹750 crores are as follows:
| Tenors |
Interest Rate (% per annum) |
| ₹25 crore to <=
₹25.25
crore
|
> ₹25.25 crore <= ₹50.00 crore |
> ₹50 crore <= ₹75.00 crore |
> ₹75.00 crore <= ₹100 crore |
> ₹100 crore <= ₹150 crore |
> ₹150 crore <= ₹200 crore |
> ₹200 crore <= ₹400 crore |
> ₹400 crore <= ₹750 crore |
> ₹750 crore |
| 7 - 14 days |
4.75% |
4.75% |
4.75% |
4.75% |
4.75% |
4.75% |
4.75% |
4.75% |
4.75% |
| 15 - 35 days |
4.90% |
4.90% |
4.90% |
4.90% |
4.90% |
4.90% |
4.90% |
4.90% |
4.90% |
| 36 - 45 days |
5.65% |
5.65% |
5.65% |
5.65% |
5.65% |
5.65% |
5.65% |
5.65% |
5.65% |
| 46 - 60 days |
5.90% |
5.90% |
5.90% |
5.90% |
5.90% |
5.90% |
5.90% |
5.90% |
5.90% |
| 61 - 91 days |
6.40% |
6.40% |
6.40% |
6.40% |
6.40% |
6.40% |
6.40% |
6.40% |
6.40% |
| 92 - 149 days |
6.75% |
6.75% |
6.75% |
6.75% |
6.75% |
6.75% |
6.75% |
6.75% |
6.75% |
| 150 - 180 days |
6.85% |
6.85% |
6.85% |
6.85% |
6.85% |
6.85% |
6.85% |
6.85% |
6.85% |
| 181 - 270 days |
6.90% |
6.90% |
6.90% |
6.90% |
6.90% |
6.90% |
6.90% |
6.90% |
6.90% |
| 271 - 364 days |
6.95% |
6.95% |
6.95% |
6.95% |
6.95% |
6.95% |
6.95% |
6.95% |
6.95% |
| 365 - 399 days |
7.05% |
7.05% |
7.05% |
7.05% |
7.05% |
7.05% |
7.05% |
7.05% |
7.05% |
| 400 - 499 days |
6.90% |
6.90% |
6.90% |
6.90% |
6.90% |
6.90% |
6.90% |
6.90% |
6.90% |
| 500 - 540 days |
6.90% |
6.90% |
6.90% |
6.90% |
6.90% |
6.90% |
6.90% |
6.90% |
6.90% |
| 541- 731 days |
6.90% |
6.90% |
6.90% |
6.90% |
6.90% |
6.90% |
6.90% |
6.90% |
6.90% |
| 732 - 1095 days |
6.80% |
6.80% |
6.80% |
6.80% |
6.80% |
6.80% |
6.80% |
6.80% |
6.80% |
| 3 years 1days - 5 years |
6.90% |
6.90% |
6.90% |
6.90% |
6.90% |
6.90% |
6.90% |
6.90% |
6.90% |
| 5 Year 1 Day - 8 Years |
6.80% |
6.80% |
6.80% |
6.80% |
6.80% |
6.80% |
6.80% |
6.80% |
6.80% |
| 8 Year 1 Day - 10 Years |
6.80% |
6.80% |
6.80% |
6.80% |
6.80% |
6.80% |
6.80% |
6.80% |
6.80% |
Note: These non-premature withdrawal NRE FD interest rates are effective from April 24, 2025. IDFC First Bank NRE FD rates are subject to change without prior notice.
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:
-
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 7 days to 10 years.
What Are the Eligibility Criteria for an IDFC FIRST Bank NRE FD Account?
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
-
Overseas Citizen India (OCI)
-
Person of Indian Origin (PIO)
-
Seafarers working on International Vessels
-
Oil Rig Employees working on International Offshore Projects
Documents Required to Open 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):
-
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:
-
Other Important documents:
-
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 by NRIs. The interest earned 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.
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