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IndusInd Bank NRE FD
The Indusind Bank NRE tenure ranges from min 7 Days to max 5 Year 1 Months 1 Days . The ROI ranges from 3.50% to 7.50 % for the general public. The lock-in period for this scheme is 5 Year
Indusind Bank NRE Scheme for amount below ₹ 2.0 Cr
The rate of interest for deposited amount less than ₹ 2.0 Cr is as below
Tenure | Interest Rate for General Public (p.a.) | Interest Rates for Senior Citizens (p.a.) |
|---|---|---|
| 7 Days Upto 14 Days | 3.50% p.a. | 4.25% p.a. |
| 15 Days Upto 1 Months | 3.50% p.a. | 4.25% p.a. |
| 1 Months 1 Days Upto 1 Months 15 Days | 3.75% p.a. | 4.50% p.a. |
| 1 Months 16 Days Upto 2 Months | 4.25% p.a. | 5.00% p.a. |
| 2 Months 1 Days Upto 3 Months | 4.60% p.a. | 5.35% p.a. |
| 3 Months 1 Days Upto 4 Months | 4.75% p.a. | 5.50% p.a. |
| 4 Months 1 Days Upto 6 Months | 5.00% p.a. | 5.75% p.a. |
| 6 Months 1 Days Upto 7 Months | 5.85% p.a. | 6.60% p.a. |
| 7 Months 1 Days Upto 8 Months 29 Days | 6.10% p.a. | 6.85% p.a. |
| 9 Months Upto 11 Months 24 Days | 6.35% p.a. | 7.10% p.a. |
| 11 Months 25 Days Upto 1 Year | 6.35% p.a. | 7.10% p.a. |
| 1 Year Upto 1 Year 6 Months 2 Days | 7.50% p.a. | 8.25% p.a. |
| 1 Year 6 Months 2 Days Upto 1 Year 7 Months 2 Days | 7.50% p.a. | 8.25% p.a. |
| 1 Year 7 Months 2 Days Upto 2 Year | 7.50% p.a. | 8.25% p.a. |
| 2 Year Upto 2 Year 6 Months 2 Days | 7.25% p.a. | 8.00% p.a. |
| 2 Year 6 Months 2 Days Upto 2 Year 9 Months 3 Days | 7.25% p.a. | 8.00% p.a. |
| 2 Year 9 Months 3 Days Upto 5 Year 1 Months | 7.25% p.a. | 8.00% p.a. |
| Upto 5 Year 1 Months 1 Days | 7.00% p.a. | 7.75% p.a. |
Key features of Indusind Bank NRE Scheme
Summary of Indusind Bank NRE Scheme features :
| Mutual Fund Schemes | NRE |
| CRISIL Rating | AA+CRISIL Rating |
| Lock-in Days | 5 Year |
| Loan Against FD | NA |
| Pre-mature Withdrawal | -- |
| FD Nominee | -- |
| Tenure | 7 Days to 5 Year 1 Months 1 Days |
| General Public | 3.50% to 7.50 % |
| Senior Citizen | 4.25% to 8.25 % |
| Amount | -- |
*Interest rates are subject to change at the discretion of the bank. These Interest rates are with effect from 10 November 2021.
What is IndusInd Bank NRE FD
Bank IndusInd IndusInd Bank's NRE FD is a fixed deposit account for Non-Resident Indians (NRIs) under the NRE (Non-Resident External) scheme. It enables NRIs to deposit their foreign earnings in Indian rupees and earn competitive interest rates. The bank's policies determine the minimum deposit amount and duration.
Eligibility Criteria for IndusInd Bank NRE FD
You must fulfil the following requirements to be eligible for an NRE FD from IndusInd Bank.
- Be a Non-Resident Indian (NRI) or a Person of Indian Origin (PIO) as defined by the Reserve Bank of India (RBI).
- Individuals must have an NRE account with IndusInd Bank and provide supporting documentation such as a passport, visa, and proof of overseas address.
- The applicant must meet the bank's minimum deposit amount and tenure requirements when opening an NRE FD account.
Documents Required to IndusInd Bank NRE FD
Here are the documents that NRIs need to apply for an NRE FD.
- Identity Proof, like a valid passport or visa
- Proof of overseas address, such as a utility bill or bank statement
- Furthermore, the individual must provide their Permanent Account Number (PAN) card or, if they do not have a PAN card,
- Form 60/61
Apart from the documents mentioned above, the bank may require additional documents following their policies and RBI guidelines.
KEY ATTRACTIONS for the IndusInd Bank NRE FD
Bank IndusInd NRE FDs have several key benefits for NRIs, including the following.
- Competitive interest rates: IndusInd Bank's interest rates on NRE FDs are generally higher than those on domestic fixed deposits, making it an appealing investment option for NRIs.
- Repatriation: Furthermore, NRE FDs are fully repatriable, which means that the principal and interest earned can be transferred back to the foreign account without restriction. This enables NRIs to manage their funds across borders while benefiting from favourable exchange rates.
- Flexible Tenure: Finally, the bank provides NRIs with flexible tenure options ranging from seven days to ten years, allowing them to select the best option based on their financial goals.
Features & Benefits of IndusInd Bank NRE FD
Bank IndusInd NRE FD provides NRIs with several features and benefits, including:
- Interest Rates: The bank provides competitive interest rates on NRE FDs, which are generally higher than domestic fixed deposits.
- Flexible Tenure Options: The bank provides NRIs with flexible tenure options ranging from 7 days to 10 years, allowing them to select the best option based on their financial objectives.
- NRE FDs are fully repatriable, which means that the principal and interest earned can be transferred back to the foreign account without restriction.
- Nomination Facility: The bank provides a nomination facility for NRE FD accounts, allowing NRIs to name a nominee to receive the proceeds in the event of their untimely death.
How to Apply for IndusInd Bank NRE FD
- NRIs can apply for an IndusInd Bank NRE FD by visiting the bank's website and completing the online application form.
- They will be required to provide documents such as their passport, visa, proof of overseas address, and PAN card/Form 60/61.
- After receiving the application, the bank will verify the documents and open the NRE FD account.
- NRIs can also apply for an NRE FD by visiting a bank branch or calling customer service.
- When opening an account, they must meet the bank's minimum deposit amount and tenure requirements.
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Frequently Asked Questions
What is the current FD rate of IndusInd Bank?
IndusInd bank FD rates range around 7.75% for general citizens and 8.25% for senior citizens.
What is the FD rate for 1 year in IndusInd Bank?
The general FD rate in IndusInd Bank is 7.75% for general citizens and 8.25% for senior citizens. However, the interest rates on fixed deposits (FDs) offered by IndusInd Bank may vary depending on factors such as deposit amount, withdrawal allowance and market conditions.
What is the minimum period for IndusInd NRE FD?
The minimum period for an IndusInd NRE FD account varies depending on the bank’s policies and the type of NRE FD account selected by the customer. The minimum period for an NRE FD typically ranges from 7 days to 1 year. Some banks, however, may offer NRE FDs with a minimum tenure of five years or more.
