NRI FD Rates — NRE, NRO & FCNR Deposits
NRE FD maturity calculator
NRI deposit rates by bank
| Bank | NRE 1yr | NRE 3yr | NRE 5yr | FCNR $ |
|---|---|---|---|---|
| RBL BankPrivate | 7.10% | 7.30% | 6.70% | 5.80% |
| YES BankPrivate | 6.75% | 7.25% | 7.00% | 5.60% |
| Axis BankPrivate | 6.70% | 7.00% | 6.70% | 5.55% |
| HDFC BankPrivate | 6.60% | 7.00% | 6.60% | 5.60% |
| ICICI BankPrivate | 6.60% | 6.90% | 6.60% | 5.50% |
| Kotak Mahindra BankPrivate | 6.50% | 6.90% | 6.50% | 5.40% |
| IDFC FIRST BankPrivate | 7.00% | 6.80% | 6.60% | 5.75% |
| State Bank of IndiaPublic sector | 6.50% | 6.75% | 6.50% | 5.50% |
| Bandhan BankPrivate | 7.00% | 6.60% | 6.10% | 5.50% |
| Federal BankPrivate | 6.60% | 6.60% | 6.60% | 5.50% |
NRE/NRO rates are in rupees; FCNR is in the foreign currency (USD shown). Indicative for deposits under ₹3 crore — always confirm the current rate with the bank. NRE interest is tax-free in India.
NRE vs NRO vs FCNR — which one?
NRE (Non-Resident External) holds your foreign earnings in rupees. The interest is completely tax-free in India, there's no TDS, and you can move both the money and the interest back out freely. For most NRIs sending savings home, this is the default — and usually the highest rate.
NRO (Non-Resident Ordinary) holds income you earn in India — rent, dividends, a pension. The deposit rate is the same as NRE, but the interest is taxable (TDS around 30%) and repatriation is capped at USD 1 million a year. Use it for India-sourced income, not for parking foreign savings.
FCNR (Foreign Currency Non-Resident) keeps the deposit in a foreign currency (USD, GBP, and others), so a falling rupee can't erode it. Interest is tax-free and repatriable, but the rate is lower than NRE. It's the choice when you'll need the money back in your own currency and want to avoid exchange-rate risk.
Not sure whether the rupee's extra yield beats the currency risk? Our gold vs FD calculator shows, on real data, how much of an Indian rupee return was eaten by the rupee weakening — pick your currency to see it.
Rates compiled from public bank sources; indicative only. Confirm with the bank before opening a deposit. RatesToday is not a financial adviser.