Federal Bank NRE FD rates are structured to provide NRIs with high-yielding investment opportunities while also offering significant tax benefits. For deposit tenures ranging from 1 year to 10 years, the interest rates are as follows:
1 year to less than 13 months: 6.80% per annum
13 months to 399 days: 7.30% per annum
400 days: 7.40% per annum
401 days to 21 months: 7.30% per annum
Above 21 months to less than 2 years: 6.75% per annum
2 years to less than 3 years: 7.05% per annum
3 years to less than 5 years: 6.60% per annum
5 years and above: 6.60% per annum
Benefits of Federal Bank Fixed Deposit Rates NRE
The Federal Bank NRE FD scheme offers various benefits:
Tax Exemption: Interest earned on NRE FDs is exempt from Indian income tax, making it a tax-efficient investment option for NRIs.
Repatriation: Both the principal and the interest earned can be fully repatriated, allowing easy transfer of funds back to the NRI's country of residence.
Loan Facility: NRIs can avail loans up to 90% of the deposit amount against their NRE FDs.
Premature Withdrawal: The bank permits premature withdrawal of NRE FDs. However, no interest is paid if the deposit is withdrawn before the completion of one year.
The Federal Bank NRE fixed deposit rates makes them an attractive choice for NRIs looking to invest their foreign earnings in India. They offer both high returns and flexibility. This is all about Federal Bank NRE FD rates.
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What is Federal Bank NRE FD Rates?
pratyush
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2024-06-24T13:00:23+00:00 2024-06-28T21:26:39+00:00Comment
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