What is SBI NRE Fixed Deposit Rates?

For NRE depositors, SBI provides fixed deposits, with interest paid quarterly and put into the NRE savings bank account at the depositor's discretion. Additionally, the bank offers special deposits, in which the principal amount is paid at maturity along with the interest component, which is compounded quarterly. As a customer, you must also check the SBI NRE fixed deposit rates. It starts at 6.25% per annum.  

Get Free Estimate

What are the SBI NRE FD Rates?

The principal and interest amounts are fully repatriable, making it a convenient choice for NRIs. The interest rates for NRE FDs depend on the tenure and deposit amount:

For Deposits Below Rs.3 Crore:

1. 1 year to less than 2 years: 6.80%

2. 2 years to less than 3 years: 7.00%

3. 3 years to less than 5 years: 6.75%

4. 5 years to 10 years: 6.50%

For Deposits Rs.3 Crore & Above:

1. 1 year to less than 2 years: 7.00%

2. 2 years to less than 3 years: 7.00%

3. 3 years to less than 5 years: 6.50%

4. 5 years to 10 years: 6.25%

I hope you understand the NRI FD rates SBI.

Get Banking Assistance from Experts with NoBroker NRI Services

Read more

How To Transfer Money From SBI To International Bank?

The SBI NRE fixed deposit rates are attractive options for Non-Resident Indians (NRIs) looking to invest their foreign earnings in India. As of June 2024, the interest rates for SBI NRE fixed deposits for amounts below Rs 2 crore. However, it can vary depending on the tenure of the deposit. 

What are the State Bank of India NRE Fixed Deposit Rates?

The SBI NRE FD rates varies as follows:

• For a tenure of 1 year, the interest rate is 6.80% per annum.

• For a special tenure of 400 days under the "AMRIT KALASH" scheme, the rate is 7.10% per annum.

• For deposits of 2 to less than 3 years, the rate is 7.00% per annum.

• For tenures ranging from 3 to 10 years, the rate is 6.50% per annum​.

These interest rates are highly competitive and provide a solid return on investment for NRIs. One of the significant benefits of SBI NRE fixed deposits is that the interest earned is tax-free in India, and both the principal and interest are fully repatriable, which means NRIs can transfer the money back to their country of residence without any restrictions​.

SBI also allows account holders to take loans against their NRE fixed deposits. Borrowers can avail loans up to 90% of the deposit amount, with the interest rate being just 1% higher than the fixed deposit rate, and without any processing charges or prepayment penalties​.

Investing in SBI NRE fixed deposits can be done easily through both online and offline methods. NRIs can open these deposits using SBI’s online banking platform or mobile app, or they can visit an SBI branch in India or an overseas office. Required documents typically include proof of identity, non-resident status, and address, along with a PAN card​​.

This is all about

SBI NRE fixed deposit rates

.

Read more