Rate of Interest on Indian Bank NRE FD Account Deposits
The Indian Bank provides a variety of Fixed Deposit interest rates for NRE FDs across different time periods (tenors). The interest rates received on the Indian Bank NRE fixed deposit accounts amounting to less than ₹3 crore to ₹5 crores are as follows:
| Tenors |
Interest rate (% p.a) Less than ₹3Cr |
Interest rate (% p.a) ₹3Cr to ₹5 Cr |
| 1 year |
6.10 |
6.75 |
| Above 1 year and less than 2 year |
7.10 |
6.50 |
| 2 year to less than 3 year |
6.70 |
6.25 |
| 3 year to less than 5 year |
6.25 |
6.00 |
| 5 year |
6.25 |
6.00 |
| Above 5 year |
6.10 |
6.00 |
Note: These non-premature withdrawal NRE FD interest rates are effective from March 2025. Indian Bank NRE FD rates are subject to change without prior notice. Minimum tenor is 1 year. Please contact nearest Indian Bank Branch for deposits above Rs. 5 Crore
What are the Features of the Indian Bank NRE FD Account?
Fixed Deposits is one of the best investment options for NRIs who are willing to grow their money in their homeland. The Indian Bank NRE FD account offers its customers various features, including:
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The Indian Bank NRE FD is maintained in Indian rupees, saving the funds from foreign exchange rate fluctuations.
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Interest earned on Indian Bank NRE FDs is exempt from tax deductions.
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The principal amount and the interest earned are fully repatriable, leading to a hassle-free fund transfer back to the foreign account.
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The Indian Bank offers a joint account facility with another NRI and a resident of India. The joint account with the Indian resident can be opened on a former or survivor basis.
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The Indian Bank NRE FD account offers nomination facility.
What Are the Eligibility Criteria for the Indian Bank NRE FD Account?
The following conditions are to be fulfilled in order to open the Indian Bank 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 an Indian Bank NRE FD Account?
Existing or new customers who have qualified for NRI eligibility can open an NRE account with the Indian Bank by filling account opening forms first, and then open an NRE FD account. Applicants are requested to follow the bank's instructions to open an NRE FD account with the bank.
Documents Required to Open the Indian Bank NRE FD Account
The general documents to be submitted for opening the Indian 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
The Indian 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 Indian Bank NRE FD is one of the best ways to make a secure and guaranteed return on investment. With complete information on the Indian Bank NRE FD interest rates, you can invest and grow your savings rapidly.
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