Term Deposits

NRE Term Deposits

Ensure maximum rupee savings with the best investment plan through NRE Deposits. Safeguard your foreign earnings, take advantage of attractive interest rates, and guarantee prompt access to your money in case of emergencies. With the SIB NRE Term Deposit, you can easily increase your money and safeguard your financial future.

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Types of NRE Term Deposits

Choose from a Range of NRI Investment Plans to Invest Your Money Wisely.

Kalpakanidhi Deposits

Suitable for NRI customers in pursuit of high returns on tax-free fixed deposits with quarterly compounding interest
Flexibility to choose terms between 1 to 10 years
Convenience of automatic renewal at maturity

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Fixed Deposits

Exclusively for NRI Account holders looking for regular income through flexible interest payouts
Enjoy quarterly payouts with simple interest
Open Joint accounts, gain opportunities for collaborative investments

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Recurring Deposits

For NRI Account holders with stable incomes, providing tax-exempt interest, and hassle-free repatriation to enhance their financial growth
Take advantage of remittances as monthly installments over a convenient period
Select term ranging from 12 to 120 months

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How to open term deposits?

Term Deposit Can be opened with direct remittance from abroad transfer from existing NRE, FCNR(B) accounts foreign currency note, traveler’s cheque tendered personally by NRIs during their visit to India.

What is the tenure range for NRE Fixed Deposits?

NRE Fixed Deposits can typically be opened for tenures ranging from 1 year to 10 years.

Is the interest earned on NRE Fixed Deposits taxable in India?

No, the interest earned on NRE Fixed Deposits is tax-free in India.

Is premature withdrawal allowed for NRE Fixed Deposits?

Yes, premature withdrawal is allowed. However, if the deposit is closed before 12 months from the date of deposit, no interest will be payable.

Can I avail a loan against my NRE Fixed Deposit?

Yes, you can avail loans of up to 90% of the deposit amount against NRE Fixed Deposits.