Dena Bank NRE FD Rates

Dena Bank is a public sector bank that offers need-based options to save your money through saving bank accounts, fixed deposits or recurring deposits in your preferred term. After merger, it is now known as Bank of Baroda. Dena Bank NRE FD rates are affordable and convenient.

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The amalgamation of Bank of Baroda, former Dena Bank and Vijaya Bank utilize their specific skills. It offers a wide range of products and services to its customers.

Dena Bank NRE Fixed Deposit Account

Everyone has his preferred way of saving funds. Fixed deposits have been a common choice among people as it has a regular interest rate available at the time of maturity. Dena bank NRE Fixed deposit interest rates are different in association with Fixed deposit accounts. 

The salient features of the Bank of Baroda Fixed deposit account are lucrative interest rates, overdraft facility, nomination facility and convenient withdrawal options. 

    1. Domestic and NRO (Non-Resident Ordinary) Term Deposit Rates (Below Rs. 2 Crores)

      Rates with effect from 22nd March 2022:

      Tenure Interest Rate Below Rs. 2 Crore (%Per Annum)
      7 days to 14 days 2.80%
      15 days to 45 days 2.80%
      46 days to 90 days 3.70%
      91 days to 180 days 3.70%
      181 days to 270 days 4.30%
      271 days & above and less than 1 year 4.40%
      1 year 5.00%
      Above 1 year to 400 days 5.20%
      Above 400 days and up to 2 Years 5.20%
      Above 2 Years and up to 3 Years 5.20%
      Above 3 Years and up to 5 Years 5.35%
      Above 5 Years and up to 10 Years 5.35%
      Above 10 years (for MACT/MACAD Court Order schemes only) 5.10%
      Get Market Linked Returns Get Market Linked Returns
    2. Domestic Resident Senior Citizens Term Deposit Rates

      Rates with effect from 22nd March 2022:

      Tenure Interest Rate Below Rs. 2 Crore (%Per Annum)
      7 days to 14 days 3.30%*
      15 days to 45 days 3.30%*
      46 days to 90 days 4.20%*
      91 days to 180 days 4.20%*
      181 days to 270 days 4.80%*
      271 days & above and less than 1 year 4.90%*
      1 year 5.50%*
      Above 1 year to 400 days 5.70%*
      Above 400 days but less than 2 Years 5.70%*
      Above 2 Years but less than 3 Years 5.70%*
      Above 3 Years but less than 5 Years 6.00%***
      Above 5 Years but less than 10 Years 6.35%**

      *Includes additional Rate of Interest of 0.50%

      **Includes additional Rate of Interest of 0.50% + 0.50%

      ***Includes additional Rate of Interest of 0.50% + 0.15%

      Guaranteed Return Investment Plan Guaranteed Return Investment Plan
    3. Domestic and NRO (Non-Resident Ordinary) Term Deposit Rates (Above Rs. 2 Crores but Less Than Rs. 10 Crores)

      Rates with effect from 25th February 2022:

      Tenure Interest Rate (% per annum)
      7 days to 14 days 2.90%
      15 days to 45 days 2.90%
      46 days to 90 days 2.90%
      91 days to 180 days 3.50%
      181 days to 270 days 3.50%
      271 days & above but less than 1 year 3.50%
      1 year 4.25%
      Above 1 Year but less than 2 Years 4.00%
      Above 2 Years but less than 3 years 4.00%
      Above 3 Years but less than 5 years 4.00%
      Above 5 Years but less than 10 years 4.00%
    4. Domestic and NRO (Non-Resident Ordinary) Term Deposit Rates (Above Rs. 10 Crores but Less Than Rs. 50 Crores)

      Rates with effect from 4th April 2022:

      Tenure Interest Rate (% per annum)
      7 days to 14 days 3.25%
      15 days to 45 days 3.50%
      46 days to 90 days 3.50%
      91 days to 180 days 3.75%
      181 days to 270 days 4.00%
      271 days & above and less than 1 year 4.25%
      1 year 5.03%
      Above 1 Year but less than 2 Years 5.00%
      Above 2 Years but less than 3 Years 5.10%
      Above 3 Years but less than 5 Years 4.50%
      Investment Plans for NRIsInvestment Plans for NRIs
    5. Domestic, NRO, NRE Fixed Deposit Rates (Above Rs. 15.1 Lakh to less than Rs. 2 Crores)

      Rates with effect from 22nd March 2022:

      Tenure General Citizens Senior Citizens
      1 year 5.05 5.55*
      Above 1 Years to 400 days 5.25 5.75*
      Above 400 days but less than 2 Years 5.25 5.75*
      Above 2 Years but less than 3 Years 5.25 5.75*
      Above 3 Years but less than 5 Years 5.45 6.10***
      Above 5 Years but less than 10 Years 5.45 6.45**

      *Includes additional Rate of Interest of 0.50%

      **Includes additional Rate of Interest of 0.50% + 0.50%

      ***Includes additional Rate of Interest of 0.50% + 0.15%

    6. Domestic, NRO, NRE Fixed Deposit Rates (Above Rs. 2 Crores to less than Rs. 10 Crores)

      Rates with effect from 25th February 2022:

      Tenure Interest Rate (% per annum)
      1 Year 4.35%
      Above 1 Year to less than 2 Years 4.10%
      Above 2 Years to less than 3 Years 4.10%
      Above 3 Years to less than 5 Years 4.10%
      Above 5 Years to less than 10 Years 4.10%
    7. FCNR(B) Foreign Currency Non-Resident Deposits

      Rates with effect from 16th April 2022:

      Maturity Period USD GBP EUR AUD
      1 Year to less than 2 years 1.18 1.45 0 0.44
      2 Years to less than 3 years 1.60 1.81 0 0.92
      3 Years to less than 4 years 1.83 1.93 0.01 1.28
      4 Years to less than 5 years 1.94 1.94 0.11 1.55
      5 Years 2.02 1.91 0.17 1.67
      Investment Plans for NRIsInvestment Plans for NRIs
    8. NRE Term Deposit Below Rs. 2 Crores

      Rates with effect from 22nd March 2022:

      Tenure Interest Rate (% per annum)
      1 year 5.00%
      Above 1 Years but less than 400 days 5.20%
      Above 400 days but less than 2 Years 5.20%
      Above 2 Years but less than 3 Years 5.20%
      Above 3 Years but less than 5 Years 5.35%
      Above 5 Years but less than 10 Years 5.35%
    9. NRE Term Deposit Above Rs. 2 Crores but less than Rs. 10 Crores

      Rates with effect from 25th February 2022:

      Tenure Interest Rate (% per annum)
      1 Year 4.25%
      Above 1 Year but less than 2 Years 4.00%
      Above 2 Years but less than 3 Years 4.00%
      Above 3 Years but less than 5 Years 4.00%
      Above 5 Years but less than 10 Years 4.00%

About Dena Bank Fixed Deposit Interest Rate Calculator

Dena Bank Fixed Deposit calculator is an easy-to-use, hassle-free tool that helps in quick calculation of the maturity amount and the interest earned receivable at the end of the policy tenure. By entering some basic details, you can calculate the correct FD amount. Here are the steps that an investor needs to follow to calculate Fixed Deposit rates on the FD Calculator:

  • The amount that is invested

  • The Rate of Interest offered

  • The tenure of the Fixed Deposit Account

  • The compounding period, that is, yearly, half-yearly, quarterly, or monthly

  • The FD Amount

Once entered the following details, an investor will come to know:

  • The maturity value of the FD

  • The total interest earned during the complete tenure

Types of NRE Fixed Deposit Account

Foreign Currency Linked Rupee Deposits (FCLRD) Scheme

This account offers the dual benefit of both the NRE Rupee Deposits and the FCLRD scheme. The minimum deposit amount is USD 10000/-.

Key benefits-

  • Automatic renewal on the due date for the same period and on current interest rates.
  • The deposit will be accepted for 12 months.
  • Intimation of due dates makes you do your financial planning.

Foreign Currency Non-Resident (B) Term deposit

This deposit plan allows all principal and interest amounts repatriable in foreign currency (USD, GBP, AUD, EURO).

Key Benefits- 

  • Tax-free interest
  • Easy liquidity and convertibility
  • A joint account with one or more NRIs is allowed
  • Addition and deletion of the name of the account holder are permissible.
Investment Plans for NRIsInvestment Plans for NRIs

NRE (Rupee) Fixed Deposit Account

This account has the facility to be opened through different means such as Telegraphic Transfers, Telex, Demand Drafts, Mail Transfers etc.

Key Benefits-

  • No Income Tax liability
  • Payment of proceeds in your chosen currency
  • High rates of interest are available, along with convertibility.
  • Option for Quarterly Interest Plan and Reinvestment (cumulative interest) plan.

RLFCD or Rupee Linked Foreign Currency Deposit Scheme for NRIs

NRIs can open this account by inward remittances in any convertible currency from abroad through Demand draft, Swift, or Foreign Currency.

Key Benefits-

  • Available for 12, 24 and 36 months.
  • Facility to book Forward contract on maturity amount.
  • The facility of premature repayment is present, but interest will be payable only if the account maintains a deposit with the bank for 12 months.

Baroda Advantage Fixed Deposits (Non-Callable)

The account can be held by an individual NRI/PIO in his name or held jointly with an NRI or Resident.

Key benefits-

  • The Bank provides differential interest rates over normal FD rates.
  • Minimum deposit of Rs 15.01 lacs and maximum below 2 crores.
  • The minimum period for 12 months, and the maximum period for 120 months.

Conclusion 

NRE Fixed deposit accounts are beneficial in tax-free interest, where you can get higher returns than saving bank accounts. If you live abroad and want to save money to find good returns, Dena bank NRE Fixed deposit/ Bank of Baroda is the right choice for you.

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