NRI-Interest Rates on Deposits-NRE Rupee Term

Maturity For Deposits of Less than Rs.2 Cr. For deposits of Rs.2 Cr & above but less than Rs.10 Cr
Rate w.e.f 10.01.2023 Rate w.e.f 20.08.2022
1 Year to less than 2 Years (except 444 Days) 6.00 6.25
444 days 7.05 6.25
2 Years to less than 3 Years 6.75 4.50
3 Years to less than 5 Years 6.50 4.50
5 Years to less than 8 Years 6.00 4.50
8 years & above to 10 Years 6.00 4.50

Rs.10 Cr & above

Please contact nearest Branch for rate of interest on deposits for Rs.10 cr & above

Premature Withdrawal:

No interest

payable for NRE Term Deposits remained with the Bank for less than 12 Months & hence, No Penalty.

Nil Penalty-

Deposits of less than Rs.5 Lacs remained with the Bank for 12 Months and above

Penalty @1.00% -

Deposits of Rs. 5 Lacs & above withdrawn prematurely after completion of 12 months

Annualized rates

Domestic/ NRO Rupee Term Deposit Rate

Annualized yield
Effective Annualized Rate of Return (Indicative only):
In keeping with Reserve Bank of India guidelines to provide information on effective annualized rate of return on deposits of various maturities, we give below the effective annualized rates of return on Bank’s cumulative deposit schemes, under the Re-investment Plan, on quarterly compounding basis: (% p.a.)

  • For deposits less than Rs.2 Cr
  • For deposits of Rs.2 Cr & above but less than Rs.10 Cr

For deposits less than Rs.2 Cr

Maturity Rate of Interest % (p.a.) Annualized Rate of Return at minimum of the maturity bucket %
1 Year to less than 2 Years (except 444 Days) 6.00 6.14
444 days 7.05 7.24
2 Years to less than 3 Years 6.75 7.16
3 Years to less than 5 Years 6.50 7.11
5 Years to less than 8 Years 6.00 6.94
8 years & above to 10 Years 6.00 7.63

For deposits of Rs.2 Cr & above but less than Rs.10 Cr

Maturity Rate of Interest % (p.a.) Annualized Rate of Return at minimum of the maturity bucket %
1 Year to less than 2 Years (except 444 Days) 6.25 6.40
444 days 6.25 6.40
2 Years to less than 3 Years 4.50 4.68
3 Years to less than 5 Years 4.50 4.68
5 Years to less than 8 Years 4.50 4.68
8 years & above to 10 Years 4.50 4.79

For deposits of Rs.10 Cr & above
Please contact nearest Branch.