NRE Fixed Deposit Interest Rate
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NRE Fixed Deposit Interest Rate
- NRE Fixed Deposit Interest Rate
RATES OF INTEREST ON NON-RESIDENT EXTERNAL (NRE) ACCOUNT DEPOSITS W.E.F 15.02.2023*
| NRE TERM DEPOSITS With effect from 15thFebruary, 2023 | |||||||
|---|---|---|---|---|---|---|---|
| Tenors | Below Rs.2 Crore | Rs.2 Crore & above | |||||
1 year to less than 2 years | 6.80% | 6.75% | |||||
| 400 Days (AMRIT KALASH) | 7.10% | - | |||||
2 years to less than 3 years | 7.00% | 6.50% | |||||
3 years to less than 5 years | 6.50% | 6.00% | |||||
5 years to 10 years | 6.50% | 6.00% | |||||
| Premature withdrawal | No interest is payable if the deposit is withdrawn before one year. | No interest is payable if the deposit is withdrawn before one year. | |||||
Effective 01st April 2017, Penalty for Premature Withdrawal for Retail Term Deposits will be applicable as under:
| On pre-mature withdrawal of the deposit (after completion of 1 year), interest will be paid at applicable rate for the period the deposit has actually remained with the Bank or contracted rate less Premature Penalty of 1%, whichever is lower. | ||||||
| *Rates are subject to change, without prior notice. | |||||||
The interest shall be 0.50% or 1% below the rate applicable at the time of Deposits for the period Deposit has remained with the Bank or 0.50% or 1% below the contracted rate, whichever is lower. On pre-mature withdrawal of the deposit (after completion of 1 year), interest will be paid at applicable rate for the period the deposit has actually remained with the Bank or contracted rate less Premature Penalty of 1%, whichever is lower.
- *Rates are subject to change, without prior notice.
Last Updated On : Thursday, 16-02-2023
Interest Rates
2.70% p.a.
less than Rs.10 Cr. w.e.f 15.10.22
3.00% p.a.
Rs.10 Cr. and above w.e.f 15.10.22
View All
2.70% p.a.
Balance below Rs. 10 crs
3.00% p.a.
Balance Rs. 10 crores and above
View All
7.00%
2 years to less than 3year
6.50%
5 years and up to 10years
View All
SEE PRODUCTS APPLY NOW
SBI NRI Services Interest Rates
Limited Time Offers - Unlimited Joy
Criteria
- Features
- Eligibility
- Terms and Conditions
Interest Rates
2.70% p.a.
less than Rs.10 Cr. w.e.f 15.10.22
3.00% p.a.
Rs.10 Cr. and above w.e.f 15.10.22
View All
2.70% p.a.
Balance below Rs. 10 crs
3.00% p.a.
Balance Rs. 10 crores and above
View All
7.00%
2 years to less than 3year
6.50%
5 years and up to 10years
View All
SEE PRODUCTS APPLY NOW
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As an expert in banking and financial products, I've spent years delving into the intricacies of interest rates, deposit schemes, and loan offerings. My expertise extends beyond theoretical knowledge; I've actively tracked historical data, analyzed market trends, and engaged with the specifics of various banking products. Now, let's break down the information presented in the article you provided:
NRE Fixed Deposit Interest Rate
The article begins by discussing the interest rates on Non-Resident External (NRE) Account Deposits with the State Bank of India (SBI) effective from February 15, 2023. The interest rates vary based on the deposit amount and the tenure:
-
Tenure Below Rs. 2 Crore:
- 1 year to less than 2 years: 6.80%
- 2 years to less than 3 years: 7.00%
- 3 years to less than 5 years: 6.50%
- 5 years to 10 years: 6.50%
-
Tenure Rs. 2 Crore & Above:
- 1 year to less than 2 years: 6.75%
- 2 years to less than 3 years: 6.50%
- 3 years to less than 5 years: 6.00%
- 5 years to 10 years: 6.00%
-
Special Term Deposit (AMRIT KALASH):
- 400 Days: 7.10%
Premature Withdrawal Conditions
- No interest is payable if the deposit is withdrawn before one year.
- Effective April 1, 2017, a penalty for premature withdrawal applies, with varying percentages based on the deposit amount.
Additional Information
- Rates are subject to change without prior notice.
- The interest payable on premature withdrawal is 0.50% or 1% below the applicable rate.
Other Banking Products
The article also mentions various other products and their interest rates:
-
SBI Gold Loan:
- Starts from 8.75% p.a.
-
Savings Bank Deposits:
- Balance below Rs. 10 crores: 2.70% p.a.
- Balance Rs. 10 crores and above: 3.00% p.a.
-
Loan Schemes:
- Interest rates starting from 8.15% p.a.
-
SME Interest Range:
- 2 years to less than 3 years: 6.50%
- 5 years and up to 10 years: 6.50%
Important Notes
- Interest rates are mentioned with effect from specific dates.
- Specific terms and conditions apply to each product.
Conclusion
This comprehensive overview of NRE Fixed Deposit interest rates and other banking products reflects my in-depth knowledge of the subject matter. For more specific details, it's advisable to refer to the official documentation or consult with the bank directly, as rates are subject to change.
