NRE Fixed Deposits

Overview

This is among our earliest higher interest bearing savings scheme where in deposits can be made between 12 months and 120 months. Loans against such deposits are also available. Interest can be withdrawn monthly / quarterly.

Product Highlights

Deposits are accepted for fixed period.

Account can be opened for a minimum period of 12 months and for a maximum period of 120 months.

Nomination facility is available.

Simple interest is eligible, depending upon the period of deposit.

Premature Closing is allowed, subject to penalty if any. (Interest will not be passed on if the deposit is closed within One Year from the date of deposit/renewal).

Interest can be withdrawn monthly / quarterly as per the option of the depositor.

Standing instruction is accepted for transferring the interest into their savings account.

TDS not applicable.

Loans can be obtained against the deposit amount.

Premature closure of deposit is not permitted during the pendency of the loan availed, if any, against this deposit