SBI NRI Fixed Deposits

The State Bank of India (SBI) values its customers not only in India but overseas as well and hence offers a wide range of investment options for NRIs (Non Resident Indians). SBI NRI Interest Rate Fixed Deposits are one of the safe and secure investment options available for NRIs that help earn decent returns and tax exemption benefits under some FDs. SBI offers returns in the range of 3.00% - 6.50% on NRE / NRO FD’s depending on the investment amount and tenure of the FD.

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State Bank of India offers the following SBI NRI FD Rates Schemes for their customers:

SBI NRE FD Rates Scheme
SBI NRO FD Rates Scheme
SBI FCNR Rates Scheme

Difference Between NRE, NRO, and FCNR (B) Accounts

It is essential to know the difference between the 3 NRI FD account types before depositing the money:

Particulars	NRE Account	NRO Account	FCNR-B Account
Account Purpose	Income earned in a foreign country is deposited in an SBI NRE Interest Rate account.	Income earned in India by NRIs is deposited in an SBI NRO Interest Rate account.	Income earned in foreign currency is deposited in SBI FCNR (B) Interest Rate account.
Account Type	Savings account, Recurring, or Current	Savings, Recurring, or Current	Fixed Deposit accounts with a 1-year minimum tenure
Currency denomination	INR	INR	AUD, CAD, CHF, EUR, GBP, HKD, JPY, SGD, USD
Joint holding facility	It can be held with other NRI.	It can be held with other Indian residents or NRI.	It can be held with other NRI.
Repatriation Facility	Balance is fully repatriable.	Interest earned is fully repatriated.	Interest earned, and principal amount are fully repatriable.
Taxability	Tax is exempted on the interest income.	Interest income is taxable.	Tax is exempted on the interest income.

SBI NRE FD Rates for Less Than 2 Crores

Tenure	General Citizens
1 year to less than 2 years	6.10%
2 years to less than 3 years	6.25%
3 years to less than 5 years	6.10%
5 years to 10 years	6.10%

Rates are effective as of 1st November 2022.

Disclaimer: Policybazaar does not endorse, rate, or recommend any particular company or product. The policyholder bears the investment risk in the investment portfolio.

SBI NRE FD Rates for Rs. 2 Crores and Above

Tenure	General Citizens
1 year to less than 2 years	6.00%
2 years to less than 3 years	2.25%
3 years to less than 5 years	5.25%
5 years to 10 years	5.00%

Rates are effective as of 1st November 2022.

Disclaimer: Policybazaar does not endorse, rate, or recommend any particular company or product. The policyholder bears the investment risk in the investment portfolio.

SBI NRO FD Rates for Less Than 2 Crores

Tenure	General Citizens
7 days to 45 days	3.00%
46 days to 179 days	4.50%
180 days to 210 days	5.25%
211 days to less than 1 year	5.50%
1 year to less than 2 years	6.10%
2 years to less than 3 years	6.25%
3 years to less than 5 years	6.10%
5 years and up to 10 years	6.10%

Rates are effective as of 22nd October 2022.

Disclaimer: Policybazaar does not endorse, rate, or recommend any particular company or product. The policyholder bears the investment risk in the investment portfolio.

SBI NRO FD Rates for Rs. 2 Crores and Above

Tenure	General Citizens
7 days to 45 days	3.50%
46 days to 179 days	4.25%
180 days to 210 days	4.50%
211 days to less than 1 year	5.00%
1 year to less than 2 years	6.00%
2 years to less than 3 years	5.25%
3 years to less than 5 years	5.25%
5 years and up to 10 years	5.00%

Rates are effective as of 22nd October 2022.

Disclaimer: Policybazaar does not endorse, rate, or recommend any particular company or product. The policyholder bears the investment risk in the investment portfolio.

Want to Earn Better Returns Than FDs?

Max Life has come up with an all-new "Max Life Smart Fixed-Return Digital Plan" that provides a combination of higher fixed returns, life coverage, and tax savings, making it a preferred choice for investors looking for guaranteed fixed returns.

Why Smart Fixed Return Digital Plan?

Details	Guaranteed Savings	Fixed Deposits
Tax savings on premiums paid (Under Sec 80 C up to Rs. 1.5 lakh per annum)	Yes	Only on the Invested amount with 5-year lock-in 80C
Tax Saving on returns (Sec 10(10D))	Yes	No
Life cover (Death Benefit)	Yes	No
Option to invest monthly	Yes	No
Interest Rate Guarantee	Yes	Every new investment may have a different interest rate.
Option to invest through Credit Card	Yes	No

SBI FCNR Rates

Tenure	USD	GBP	EURO	CAD	AUD	JPY
1 year	4.25%	3.70%	0.50%	3.50%	2.60%	0.02%
Above 1 year to less than 2 years	4.25%	3.70%	0.50%	3.50%	2.60%	0.02%
2 years to less than 3 years	3.45%	2.35%	0.50%	3.00%	2.75%	0.05%
3 years to less than 4 years	3.70%	2.45%	0.50%	3.15%	3.00%	0.05%
4 years to less than 5 years	3.80%	2.45%	0.50%	3.20%	3.20%	0.05%
5 years	3.90%	2.45%	0.50%	3.25%	3.45%	0.05%

Rates are effective as of 20th October 2022.

Disclaimer: Policybazaar does not endorse, rate, or recommend any particular company or product. The policyholder bears the investment risk in the investment portfolio.

In the End!

All the 3 SBI NRI Interest Rate accounts, that is, Non-Resident External (NRE), Non-Resident Ordinary (NRO), and Foreign Currency Non-Resident (FCNR), allow the NRIs to deposit their income efficiently and hassle-free in India. These accounts are completely safe for saving income and earning decent returns on the invested amount. The type of account should be chosen wisely that best suits the depositor’s needs (type of account will also be dependent on the account held by the customer).