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Home / NRI / What is Induslnd Bank NRE FD Rates?
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What is Induslnd Bank NRE FD Rates?

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1 2024-06-27T10:40:58+00:00
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Indusind bank NRE FD rates?

IndusInd Bank offers competitive interest rates for Non-Resident External (NRE) Fixed Deposits, making it an attractive option for NRIs looking to invest their foreign earnings in India. 

What are the Indusind Bank NRE Fixed Deposit Rates?

Here are the key details on the Indusind Bank fixed deposit interest rates for NRI,

  1. 1 year to below 2 years: 7.10% per annum

  2. 2 years to below 3 years: 7.20% per annum

  3. 3 years to below 5 years: 7.25% per annum

  4. 5 years and above: 7.00% per annum

These rates are subject to change, so it’s advisable to check the latest rates directly from IndusInd Bank’s website or by visiting a local branch.

The interest earned on NRE FDs is exempt from tax in India, which makes them highly beneficial for NRIs.

Both the principal and interest components are fully and freely repatriable, allowing easy transfer of funds back to the NRI’s country of residence.

The tenure ranges from a minimum of 1 year to a maximum of 10 years, offering flexibility based on the investor’s requirements.

The minimum investment amount is Rs. 10,000 for urban branches and Rs. 5,000 for semi-urban and rural branches.

Additional Considerations

  • Premature Withdrawal: Allowed with a penalty. The applicable interest rate for the period the deposit was held will be paid, minus a penal interest rate of 1%.

  • Online and Offline Application: NRIs can open NRE FDs either online through IndusInd Bank’s portal or by visiting a branch.

  • Required Documents: Typically, NRIs need to provide proof of identity, address, and NRI status, along with PAN card details or Form 60.

This is all about

IndusInd NRE FD rates

.

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