IndusInd Bank is a globally reputed financial institution with a massive footprint that caters to the banking needs of more than 3 Crore customers. With a strong network of 6,000 distribution points and bank branches located across the length and breadth of the country, IndusInd bank offers a wide array of financial products to Non-resident Indians (NRIs) and Persons of Indian Origin (PIOs). IndusInd Bank NRE FD rates are the best in the market and their banking services include personal loans, credit card services, vehicle loans and commercial credit.Read more
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IndusInd Bank is considered a reliable banking partner to small businesses and their clients. When it comes to foreign income flow management, this bank offers the best interest rates and other ancillary services that are highly advantageous to the NRIs.
The services of the bank ensure customer satisfaction and employees strive to increase the collaboration with clients and offer the latest financial solutions to meet their credit and other banking needs. IndusInd bank not only strives to enhance its productivity and efficiency but also tries to inculcate the same financial discipline among its clients.
It stands for non-resident external accounts and differs from savings and recurring deposit accounts. NRE account holders are eligible to open the highly popular fixed deposit account. These accounts offer a mechanism through which non-resident Indians can deposit their life savings or monthly income which is denominated in foreign currency and the same is transferred to the bank account of an Indian financial institution. Apart from that, the amount is converted into Indian currency status upon the predetermined period set by the depositor and it is also completely devoid of any tax application.
Self-attested photocopies of the following should be submitted at the branch during opening the NRE FD account:
When attempts are being made to open an IndusInd Bank NRE FD rate account from outside of India, the above documents should be self-attested by the holder of the documents and also duly attested by the local notary, Embassy Officials and Bank representatives and Consulate officials.
Non-resident external account fixed deposit account is a tax-free instrument and can undergo complete repatriation into the Indian rupee-denominated deposit account. This scheme is particularly useful to non-resident Indians and persons of Indian origin who are earning high salaries and assured of sustainable and stable income flows from other countries.
The following are the salient features of IndusInd NRE Fixed Deposits:
The key benefits offered by IndusInd NRE FD Accounts are as follows:
IndusInd Bank offers completely repatriable fixed deposit options for Non-Resident Indians and Persons of Indian Origin. The Fixed deposits are completely immune to taxation and have amazing interest rates. The tenures of the fixed deposits are between the ranges of 12 months to 10 years.
*The IndusInd Bank NRI FD rates are subject to change depending on the internal policies of the bank and are entirely discretionary. The rates mentioned are valid as of 13th July 2020.
The quantum of interest rates of an NRE fixed deposit account normally depends on the duration for which it is deposited. IndusInd Bank NRE fixed FD rates go up to a maximum of eight per cent.
NRE fixed deposits of less than 2 Crore:
The following points need to be considered carefully before opening an IndusInd NRE fixed deposit:
For NRE fixed deposits of Rs 2 Crore to Rs 5 Crore:
The following rates are applicable on all IndusInd Fixed deposit rates with effect from April 26th 2021:
There are many financial institutions that are offering competitive interest rates on NRE Fixed deposits and it is tough to select your banking partner. However specific factors must be taken into account such as trustworthiness and balance sheet strength of the bank. The prime focus should be on the reputation of the bank in delivering NRI Banking services. Also, investors are recommended to check for the presence of the banking branch in the country they live in presently such as the USA and UK.
There are many advantages to opening an IndusInd NRI FD rate account. However, individuals should exercise due caution to successfully safeguard their deposits against market fluctuations in the exchange rate. The individuals have to decide the fixed deposit tenure in such a way that their investment does not undergo any substantial risk. IndusInd Bank NRE Fixed Deposit rate account openers should also note that any deposits of foreign currency will need to bear the risk of fluctuation in RBI interest rates when converting into Indian rupees.
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*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C apply.