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SBI NRE FD Rates

Home Fixed Deposit SBI FD Rates SBI NRE Fixed Deposit Rates
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Updated: 07-11-2024 06:01:59 AM

State Bank of India offers fixed deposit interest rates to its NRE depositors at 6.50%-7.10% p.a. for tenures of 1 year to 10 years. However, they are not eligible for interest rate premium offered to senior citizens.

SBI offers Term Deposits to NRE depositors where the interest component is paid quarterly and is deposited to the NRE savings bank account as per the request of the depositor. The bank also offers Special Term Deposits wherein the interest component is compounded quarterly and is paid on maturity with the principal amount. The depositors can also avail loan or overdraft facility against their deposits.

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SBI NRE FD Rates Highlights 2024
Highest slab rate 7.10% p.a. (400 days)
For 1 year 6.80% p.a.
For 2 years 7.00% p.a.
For 3 years 6.75% p.a.
For 4 years 6.75% p.a.
For 5 years 6.50% p.a.

Rates as of 7th November 2024

SBI NRE FD Interest Rates

SBI NRE FD Interest Rates w.e.f. 15th July 2024

Tenure Interest Rates(p.a.)
Below Rs. 3 Crore Rs. 3 Crore & Above
1 year to less than 2 years 6.80% 7.00%
400 days (Amrit Kalash) 7.10% –
444 days (Amrit Vrishti) 7.25% –
2 years to less than 3 years 7.00% 7.00%
3 years to less than 5 years 6.75% 6.50%
5 years to 10 years 6.50% 6.25%

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Types of SBI NRE Deposits

SBI NRE Term Deposits

SBI NRE Term deposits can be opened by NRIs who wish to deposit their foreign earnings in Indian banks in Indian currency. Both the principal amount and interest component of these deposits are completely repatriable. The interest component for SBI Term Deposits is paid quarterly and is credited to the NRE savings account as per the request of the depositor. Depositors can deposit a minimum amount of Rs 1,000 in general branches. In personal banking branches, minimum deposit balance should be Rs 1 lakh for metro/urban areas and Rs 50,000 for semi-urban/ rural areas. Depositors can also avail SBI loan facility or SBI overdraft facility against deposits.

SBI NRE Special Term Deposits

SBI offers Special Term Deposits to NRE depositors wherein the interest component is compounded quarterly and paid on maturity with the principal amount. Minimum deposit balance for Special Term Deposits should be at least Rs 1,000 in general banking branches. In personal banking branches, minimum deposit should be Rs 1 lakh for metro/urban areas and Rs 50,000 for semi-urban/ rural areas. The bank also offers overdraft or loan facility against the deposits.

Loan Against SBI NRE Deposits

NRE Depositors can avail loans against their deposits to meet emergency financial requirements, for direct investments in India, to carry out business activities or for acquiring a house or flat in India. The depositors need not close the deposit account prematurely and can avail loans as overdraft or demand loans from the same branch where they maintain their deposits. The interest rate is 1.00% above the underlying SBI FD interest rate offered as security irrespective of the loan amount.

Comparison of Top 20 Scheduled Banks based on FD Rates


Banks		Highest
FD rate
(% p.a.)		1-year
FD rate
(% p.a.)		3-year
FD rate
(% p.a.)		5-year
FD rate
(% p.a.)		Additional
interest rate
for senior citizens
(% p.a.)
Unity Small Finance Bank9.007.858.158.150.50
North East Small Finance Bank9.007.009.006.250.50
Suryoday Small Finance Bank8.608.058.608.250.50
Shivalik Small Finance Bank8.556.007.506.500.50
Utkarsh Small Finance Bank8.508.008.507.750.60
Jana Small Finance Bank8.258.258.258.200.50
Ujjivan Small Finance Bank8.258.257.207.200.50
ESAF Small Finance Bank8.256.006.756.250.50
Equitas Small Finance Bank8.258.208.007.250.50-0.75
SBM Bank8.257.057.307.750.50
RBL Bank8.107.507.507.100.50
DCB Bank8.057.107.557.400.50
Bandhan Bank8.058.057.255.850.50-0.75
AU Small Finance Bank8.007.257.507.250.50
IDFC First Bank7.906.506.806.750.50
YES Bank7.757.257.257.250.50-0.75
Induslnd Bank7.997.757.257.250.50
Central Bank of India7.457.006.005.750.50
Punjab & Sind7.456.306.006.006.00
HDFC Bank7.406.607.007.000.50

 

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