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NRI > Interest Rates

Interest Rates


Interest rates on the range of NRI products are listed below:
Senior Citizens are not given the facility of additional interest rate on investment made in any NRI Fixed Deposit (NRE / NRO / RFC / FCNR).

Non Resident Ordinary - NRO Term Deposit rates (Effective October 15, 2018)

Maturity Slab

Interest Rate
(% p.a.)

15-30 days

5.75

31-45 days

5.75

46- 60 days

6.25

61-90 days

6.25

91-6 months

6.25

6 months 1 day to 270 days

6.50

271 days upto < 1 year

6.50

1 year

7.00

> 1 year - 2 years

7.05

>2 years to < 3 years

7.05

3 years to < 5 years

6.85

5 years

6.85

> 5 years - 7 years

6.25

>7 years - 10 years

6.25

Non Resident (External) - NRE Deposit Rates (Effective October 15, 2018)

Maturity Slab

Interest Rate
(% p.a.)

1 year

7.00

> 1 year - 2 years

7.05

>2 years to < 3 years

7.05

3 years to < 5 years

6.85

5 years

6.85

> 5 years - 7 years

6.25

>7 years - 10 years

6.25

Note:-
• The above rates are applicable only on Fresh NRE / NRO deposits and on renewal of maturing deposits for amounts less than Rs. 1 crore. For the interest rate on NRE / NRO deposit for amount Rs 1 Crore and above, kindly refer to “RATES FOR BULK DEPOSITS ( Rs. 1 cr. and Above )” under URL http://www.idbi.com/interest-rates.asp

• No interest will be paid on NRE deposits closed pre-maturely in less than 1 year.
Interest Rate on Savings Accounts ( Effective October 1, 2017)

Account Type

Saving Deposits Balance

Rate of Interest

NRE & NRO SB

UptoRs. 25 lakh

3.5 % p.a

NRE & NRO SB

Above Rs. 25 lakh

4.0 % p.a

Resident Foreign Currency – RFC Deposit rates ( % p.a.)(Effective October 1, 2018)

Maturity Slab

USD

GBP

EURO

JPY

Less than 30 days

2.70

0.00

0.00

0.00

30 days - 90 days

2.76

0.00

0.00

0.00

91 days – 6 months

2.90

0.00

0.00

0.00

6 months 1 day < 1 year

3.10

0.00

0.00

0.00

1 year < 2 years

3.28

1.39

0.00

0.00

2 years  < 3 years

3.48

1.57

0.00

0.00

3 years only

3.51

1.68

0.00

0.00

Foreign Currency Non Resident (Bank) - FCNR (B) deposit rates ( % p.a.)(Effective October 1, 2018)

Maturity Slab

USD

GBP

EUR

AUD

CAD

JPY

SGD

HKD

CHF

 

1 Year to less than 2 Years

3.53 1.64 0.20 2.72 2.85 0.45 2.54 3.00 0.00

 

2 Years to less than 3 Years

3.73 1.82 0.36 2.80 3.12 0.45 2.74 3.36 0.00

3 Years to less than 4 Years

3.76 1.93 0.50 2.89 3.22 0.45 2.79 3.45 0.00

4 Years to less than 5 Years

3.77 2.04 0.67 3.15 3.31 0.45 2.83 3.46 0.00

5 Years only

3.80 2.15 0.85 3.25 3.38 0.45 2.87 3.51 0.00
Note:-
• No interest will be paid on FCNR deposits closed pre-maturely in less than 1 year.

• FCNR(B) deposit above USD 1 million or equivalent should be placed with prior consultation of Branch or NRI Cell at nri@idbi.co.in
NRO Recurring deposits : (Effective October 15, 2018)

Tenor

Interest Rate (% p.a.)

1 year

7.00

> 1 year - 2 years

7.05

>2 years to < 3 years

7.05

3 years to < 5 years

6.85

5 years

6.85

> 5 years - 7 years

6.25

>7 years - 10 years

6.25

NRE Recurring deposits: (October 15, 2018)

Tenor

Interest Rate
(% p.a.)

1 year

7.00

> 1 year - 2 years

7.05

>2 years to < 3 years

7.05

3 years to < 5 years

6.85

5 years

6.85

Interest payable on Premature Withdrawal of Term Deposits

Interest payable on prematurely withdrawn deposits will be the rate applicable for the amount and the period for which the deposit remained with the Bank (rate applicable for that tenure on the original date of the deposit). To illustrate as an example, if a deposit is placed for 5 years and after 1 year the depositor wants to close the deposit prematurely, then the interest rate applied will be the rate which was applicable for one year on the original date of deposit.

Presently we do not levy penalty for premature withdrawal of deposits. However with the revision in the premature closure policy, Bank will now levy a penalty of 1%, on the applicable rate for deposits in RTD & RD closed prematurely. Such closures include the withdrawals through sweep-ins and partial withdrawals as well. 

Disclaimer: Interest rates on FCNR and RFC deposits are subject to change on the 1st of every month and as per the guidelines issued by the Reserve Bank of India from time to time.

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