Best NRI Bulk Scheme in India

The interest rate for NRI Bulk is minimum of 6.50% and maximum of 8.25 % respectively. The minimum deposit permissible under this plan is less then 2 crore

Interest Rates on NRI Bulk FD

Given below are the latest interest rates offered by top banks under this FD category.

Name of Bank

For General Citizen (p.a.)

For Senior Citizen (p.a.)

State Bank of India NRI FD Bulk

4.75% to 6.75 %


NRI Bulk Fixed Deposit

Indian banks offer several types of fixed deposits hinged on customer requirements. The best part is that fixed deposits are not limited to Indian citizens. Because millions of people live outside India, banks offer NRI fixed deposits too. Over time, fixed deposits for Non-Resident Indians have become increasingly popular. NRI Bulk Fixed Deposits allow investors to secure their deposits and earn higher returns, amongst many other benefits.

We have you covered if you are an NRI willing to invest in NRI bulk fixed deposits. Keep reading the blog to get familiar with NRI FD eligibility criteria, types of NRI fixed deposits, required documents, features, and the applicable interest rates.

What is NRI Bulk Fixed Deposit? 

When a Non-Resident Indian opens a term deposit account to make regular investments, it is called NRI Bulk Fixed Deposits. If any NRI, PIO, or OCI wants to invest in a fixed deposit in India, they will have to consider opening an individual FD account dedicated to them.

NRI fixed deposits are somewhat different from regular savings accounts as the amount is locked for a specific time frame. Unlike savings accounts, you don't get the feature to withdraw money freely at any time. Additionally, making premature withdrawals will attract a penalty and loss of interest component.

The benefit of opening NRI fixed deposits is that you get higher returns, loans, auto-renewal, tax-free interest, and secure good fortune. Moreover, fixed deposit investment involves less risk, and your principal component remains secure.

Types of NRI Bulk Fixed Deposits

Being an NRI doesn’t limit you from enjoying the benefits of versatility. Similar to other fixed deposits, you also get a few options in NRI FDs. Some of the banks provide customised fixed deposits for NRIs. So, you can choose an FD that is the best fit for your short- and long-term financial goals.

Usually, Indian banks offer the following three types of NRI bulk fixed deposits:

  1. Non-Resident External or NRE Fixed Deposit
  2. Non-Resident Ordinary or NRO Fixed Deposits
  3. FCNR(B) Fixed Deposits

All these fixed deposits can cater to you to generate assured returns but offer distinct features. Choose the one that best matches your investment expectations based on the characteristics of these fixed deposits.

Specifics Non-Resident External FD Non-Resident Ordinary FD FCNR(B) FD
Denomination of Invested Amount Indian Rupee Indian Rupee Foreign Currency including USD, CAD, Yen, etc.
Withdrawal Offers premature FD withdrawal. The interest component is completely withdrawable, but there is a set limit if you withdraw funds from the principal investment amount. Premature WIthdrawal is available
Tax Tax-free returns The interest component is subject to tax Tax-free returns

Eligibility Criteria For NRI Bulk Fixed Deposit Accounts

To open an NRI FD account and enjoy the benefits of higher returns and secure your future financially, you should satisfy the set eligibility criteria.

  • NRI Bulk Fixed deposit accounts are available for non-resident individuals and people of Indian origin. This category includes Persons of India Origin (PIO) and Overseas Citizens of India (OCI) who work, live or study abroad.
  • Individuals who work with UN organisations, officers deputed by the Government of India, mariners, people working in oil rigs, and airlines are eligible for NRI Bulk Fixed Deposits.
  • If you belong to any of these categories, get in touch with the bank executive and open your FD account individually or jointly at your convenience.
  • If you belong to PIO or OCI category, you will qualify for NRI FD. If you ever held an Indian passport, if your parents/grandparents were Indian citizens, or if you are the spouse of a PIO or Indian citizen.

Benefits of FD for Non-Resident Indians:

With NRI Bulk fixed deposits and higher returns, you get several other benefits such as tax-free interest, easy repatriation, premature withdrawal, loan, and auto-renewal.

  1. NRI fixed deposits are considered high-interest-yielding investment instruments contrary to other available products. You get interested in the invested amount till the tenure comes to maturity.
  2. The interest generated from fixed deposits is not subject to taxation. You don't have to pay tax on the savings generated through FDs.
  3. Depositors get complete repatriation on the deposited amount for all FDs except NRO fixed deposit. Principal, as well as interest components are both fully repatriable.
  4. If you notify the bank before making a premature withdrawal, the bank permits you to withdraw the amount without penalty. However, you must complete the specified time set by the bank to make a pre-maturity withdrawal.
  5. You can secure 90% of the NRI Bulk Fixed Deposit funds as a loan without paying higher interest rates.
  6. Bank offers auto renewal facility on NRI bulk fixed deposit account. As soon as your account reaches maturity, the amount is reinvested as per your instructions.

Interest rates on NRI Bulk Fixed deposits

All major Indian banks offer NRI Bulk fixed deposits, and choosing the paramount one can be an intimidating task. To make it easier, we have encapsulated the interest rates on the NRI bulk Fixed deposit offered by the major banks:

Bank Name NRI Bulk Deposit FD (Per annum)
Kotak Bank NRI FD 7.30%
United Bank of India NRI FD 6.50%
RBL Bank NRI FD 8.05%
Bharat Co-operative Bank NRI FD 8%
Oriental Bank of Commerce NRI FD 7%
IndusInd Bank NRI FD 7.75%
Axis Bank NRI FD 7.50%
DCB Bank NRI FD 8.25%
Lakshmi Vilas Bank NRI FD 8%
Shamrao Vithal Co-operative Bank NRI FD 7.25%
Yes Bank NRI FD 7.25%
Union Bank of India NRI FD 6.75%
Federal Bank NRI FD 7.40%
Canara Bank NRI FD 6.75%
Central Bank of India NRI FD 6.65%
Corporation Bank NRI FD 7%
Syndicate Bank NRI FD 7.15%
State Bank of India NRI FD 6.85%
Bank of Baroda NRI FD 6.85%
Bank of India NRI FD 6.75%
Allahabad Bank NRI FD 6.75%

 Based on the mentioned NRI fixed deposit interest rates you can make a more informed decision. Your money will be invested for a set period. So, make sure you conduct thorough research and come up with the bank that offers you higher returns with the best services.


Which bank is best for fixed deposits for NRI?

State Bank of India is the best for NRI fixed deposits, offering an interest rate starting from 8.75%.

Can NRI invest in Bulk FD?

Yes, NRI can invest in Bulk FDs. Almost all major Indian banks offer NRI Bulk fixed deposits. Get in touch with the bank executive or head to their official website for more information about eligibility, documentation, rates, and benefits.