Rate of Interest on Karnataka Bank NRE FD Account Deposits
Karnataka Bank provides a variety of Fixed Deposit interest rates for NRE FDs across different time periods (tenures). The interest rates received on Karnataka Bank NRE fixed deposit accounts amounting to ₹2 crore to ₹10 crores are as follows:
| Tenures |
Interest rate (% p.a) ₹2Cr up to ₹10Cr |
| 1 year to 554 days |
7.25 |
| 555 days only |
7.40 |
| 556 days to 2 years |
7.05 |
| Above 2 years to 3 years |
6.75 |
Note: These non-premature withdrawal NRE FD interest rates are effective from May 2025. Karnataka Bank NRE FD rates are subject to change without prior notice.
What are the Features of a Karnataka Bank NRE FD Account?
The Karnataka Bank NRE FD account offers its customers various features, including:
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Karnataka Bank offers joint account options for NRE FDs.
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The interest earned on Karnataka 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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Karnataka NRE FD is maintained in Indian rupees, saving the funds from foreign exchange rate fluctuations.
What Are the Eligibility Criteria for a Karnataka Bank NRE FD Account?
To invest in the Karnataka 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) who were Indian citizens on January 26, 1950
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Seafarers of Indian Nationality
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Maritime professionals of Indian Nationality.
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Students studying abroad
How to Open a Karnataka Bank NRE FD Account?
To open an account and get good Karnataka Bank NRE FD rates, the following general steps are to be followed:
Step 1: Visit Karnataka Bank's official website.
Step 2: Go to the NRI Priority Banking Section.
Step 3: Go to Fixed Deposits.
Step 4: Click Apply Now.
Step 5: Fill the form that appeared on the screen.
Step 6: Bank officials would contact you soon after.
Documents Required to Open a Karnataka Bank NRE FD Account
The general documents to be submitted for opening a Karnataka Bank NRE FD account are:
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Mandatory Documents for NRIs:
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Valid Indian Passport or Overseas Resident Card
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Valid Employment Visa/Work Permit/Student Visa/Overseas Resident Card
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Proof of communication address
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PAN Card or Form 60
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Off-site Verification for NRIs (Unable to Visit Branch):
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Authorized Attestation Officials:
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Authorized officials of overseas branches of Scheduled Commercial Banks registered in India
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Branches of overseas banks with Indian bank relationships
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Notary Publics
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Court Magistrates
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Judges
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Indian Embassy/Consulate officials in the country of residence
Conclusion
One of the easiest ways for NRIs to judiciously invest and grow their earnings from abroad is by investing in a Karnataka Bank NRE FD account. Karnataka Bank NRE FD rates ensure guaranteed financial growth on investments by NRIs. Keeping yourself up to date with Karnataka Bank NRE FD rates lets you analyze and compare the rates to get the best interest on your FD investments.
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