Equitas Small Finance Bank NRE Fixed Deposit
The Equitas Small Finance Bank NRE tenure ranges from min 1 Year to max 10 Year 2 Days . The ROI ranges from 6.00% to 7.00 % for the general public. The lock-in period for this scheme is 10 Year 2 Days
Equitas Small Finance Bank NRE Scheme for amount below ₹ 2.0 Cr
The rate of interest for deposited amount less than ₹ 2.0 Cr is as below
Interest Rate for General Public (p.a.)
|1 Year Upto 1 Year 6 Months 2 Days|
|1 Year 6 Months 3 Days Upto 2 Year|
|2 Year 1 Days Upto 2 Year 5 Months 7 Days|
|2 Year 5 Months 9 Days Upto 3 Year|
|3 Year 1 Days Upto 4 Year 1 Days|
|4 Year 2 Days Upto 5 Year 1 Months 7 Days|
|5 Year 1 Months 8 Days Upto 10 Year 2 Days|
|Upto 2 Year 5 Months 8 Days|
Key features of Equitas Small Finance Bank NRE Scheme
Summary of Equitas Small Finance Bank NRE Scheme features :
|Mutual Fund Schemes|
10 Year 2 Days
|Loan Against FD|
1 Year to 10 Year 2 Days
6.00% to 7.00 %
*Interest rates are subject to change at the discretion of the bank. These Interest rates are with effect from 10 November 2021.
Are you an NRI looking for potential capital growth on your investment? Consider opening an Equitas Small Finance Bank NRE FD. NRE fixed deposit accounts are ideal for Indian expatriates looking to invest their money in India. The money in these accounts is safeguarded and can earn interest at competitive rates. With an NRE account, you can also remit money to India without any exchange rate risk. It offers a fixed interest rate for the term of the deposit, providing stability and peace of mind in an uncertain economic environment. The bank offers a maximum investment tenure of 10 years and competitive interest rates ranging from 6.75% p.a. to 7.50% p.a.
Eligibility Criteria to Apply for Equitas Small Finance Bank NRE Fixed Deposit
If you have decided to invest in an NRE fixed deposit, you may wonder what the eligibility criteria are for this scheme. To be eligible to open an Equitas Small Finance Bank NRE FD, the following eligibility criteria must be met.
- You must be a Non-Resident Indian, a Person of Indian Origin.
- Government of India Employees with Diplomatic Passports working abroad.
- Students Studying Abroad for one year and above with valid student visas
- Seafarers who are Citizens of India
- PIOs employed in shipping companies registered offices abroad.
Documents Required to Apply for Equitas Small Finance Bank NRE Fixed Deposit
To open an Equitas Small Finance Bank NRE FD, you must submit a few documents to expedite the verification process.
|NRIs||● Passport-size photograph of the applicant and co-applicant ● A copy of the passport ● A copy of the visa, work permit, or residence permit ● Proof of mailing address|
|PIOs||● Passport-size photograph of the applicant and co-applicant ● A copy of passport ● In case the country of citizenship and mailing address are different, provide the valid copy of visa ● If the birthplace is not India, provide a copy of your OCI card, copy of your Indian passport held by any family members.|
|Seafarers||● Passport-size photograph of the applicant and co-applicant ● Copy of passport, a valid transit, or work visa ● Copy of Continuous Discharge Summary ● Copy of a Valid Contract letter showing the Name of the Principal Company and address, Name of the Employee, Flag and Name of the Vessel, Name of the Port, Contract Commencement Date and Tenure and Salary in Foreign Currency. ● Merchant Navy Declaration in the Attached format ● Proof of the mailing address if it differs from the passport.|
Note: All the documents must be attested by the applicant as well as the bank/Indian Embassy/ Notary
Features and Benefits of Equitas Small Finance Bank NRE Fixed Deposit
If you're looking to invest in an Equitas Small Finance Bank NRE FD, there are a few things one should be aware of. First, your investment is protected against currency fluctuation. Additionally, you'll earn a higher interest rate than a regular savings account. Here's a closer look at these features and benefits:
- Higher Interest Rates: NRE Fixed Deposits offer higher interest rates than regular savings accounts. This means you'll earn more on your investment over time.
- No Withdrawal Penalty: You can withdraw your funds from an NRE Fixed Deposit without penalty. This flexibility makes it an ideal investment for short-term goals.
- Flexible tenure: The tenure of the NRE Fixed Deposit can be anywhere from 12 to 120 months, which gives you the flexibility to choose a tenure that suits your needs.
- Safety of your investment: The NRE Fixed Deposit is backed by the Indian government so that you can be assured of the safety of your investment.
- Freely Repatriable: The Equitas NRE FD can be repatriated (or withdrawn) by the depositor at any time without any restrictions. These deposits are typically held in foreign currency and are thus subject to exchange rate fluctuations.
- Nomination Facility Available: The nomination facility available on NRE fixed deposit account allows the account holder to nominate one or more individuals to receive the money in the event of their death.
How to Apply for Equitas Small Finance Bank NRE FD?
Opening an Equitas Small Finance Bank NRE FD is a simple process. You can either visit a branch or apply online. If you are applying online, you must prepare the documents mentioned above. The process is as follows:
Step 1: Visit the official website of Equitas Small Finance Bank
Step 2: Under the ‘NRI - Save’ tab, click on ‘NRE fixed deposit’
Step 3: Scroll down and click on ‘Open FD’
Step 4: An application form will be displayed on the screen
Step 5: Fill in the form carefully and click on ‘Submit’
Conversely, you can opt to apply offline by downloading the Equitas Small Finance Bank NRE FD Application Form by clicking on this link NRE /NRO fixed deposits request form (existing customers)
The form is straightforward to fill out. Having all the required information and documents is essential before you begin. Once you've completed the form, submit it to your nearest Equitas Small Finance Bank branch, and a bank representative will contact you.
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Frequently Asked Questions
What is Equitas Small Finance Bank NRE FD rate?
Equitas Small Finance Bank NRE FD offers competitive and attractive interest rates ranging from 6.75% p.a. to 7.50% p.a.
Is Equitas Small Finance Bank NRE FD tax-free?
Yes, Equitas Small Finance Bank NRE FD is tax-free.
Is it Beneficial to invest in Equitas Small Finance Bank NRE FD?
If you’re looking for a safe and reliable investment option, you may consider investing in an FD with Equitas Small Finance Bank. NRE FDs offer several benefits, including high-interest rates, safety and security, and flexibility. Plus, with Equitas Small Finance Bank, you can rest assured that your money is in good hands.
What is the minimum tenure for Equitas Small Finance Bank NRE FD?
The minimum tenure for Equitas Small Finance Bank NRE FD is one year.