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What is SBI NRE FD Interest Rates?

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0 2024-06-24T13:15:33+00:00
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SBI NRE FD interest rates

accounts allow NRIs to park their foreign earnings in India, offering attractive interest rates and certain benefits. 

What are the NRE Deposit Interest Rates SBI?

Here is a detailed overview of the current NRE fixed deposit rates in SBI and features:

  1. SBI offers competitive interest rates on NRE FDs, which are subject to periodic revision. As of now, the interest rates for NRE FDs are:

  • 1 year to less than 2 years: 6.80% per annum

  • 2 years to less than 3 years: 7.00% per annum

  • 3 years to less than 5 years: 6.50% per annum

  • 5 years to 10 years: 6.50% per annum

  1. Interest earned on NRE FDs is exempt from Indian income tax, making it an attractive option for NRIs.

  2. Both the principal and the interest earned are fully repatriable, allowing easy transfer of funds back to the NRIs' country of residence.

  3. NRE FDs offer flexible tenure options ranging from 1 year to 10 years, allowing NRIs to choose a period that best suits their financial planning.

  4. SBI allows premature withdrawal of NRE FDs, subject to certain conditions and penalty charges, providing liquidity in times of need.

  5. NRIs can avail loans against their NRE FDs for personal or business purposes, offering an additional financial cushion without breaking the FD.

  6. NRIs can open an NRE FD account with SBI through various channels such as internet banking, visiting a branch, or through the SBI NRI services portal. The process typically requires submission of the NRE account details, passport, visa, and proof of overseas residence.

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SBI NRE FD Interest Rates

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