NRE Fixed Deposit or Non-Resident External FD is one of the popular ard one of the best investments for NRIs/PIOs/OCIs because of two reasons:
- The interest rate is on the higher side as compared to their country of residence and
- the interest earned on NRE FD is tax free in India
This post compares the best interest rates on NRE FDs.
Best NRE FD Rates
The table below compares the interest rates offered on various NRE fixed and recurring deposits along with the penalty on pre-closure of FD/RD across 40 major banks in India.
The highest interest rate on fixed deposit is offered by RBL Bank (36 months to 36 months 1 day) at 7.50%.
Lakshmi Vilas Bank, DCB Bank, The Ratnakar Bank, Lakshmi Vilas Bank and Tamilnad Mercantile Bank offer highest interest rate across most tenures.
| Banks | 1 Years | 2 Years | 3 Years | 4 Years | 5 Years | 5+ Years |
| Axis Bank | 5.45% | 5.45% | 5.50% | 5.50% | 5.50% | 5.50% |
| Bandhan Bank | 6.25% | 6.15% | 6.10% |
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