Wondering about
ICICI Bank FD rates for NRI.
ICICI Bank offers attractive interest rates for NRE Fixed Deposits (FDs), making them a compelling choice for Non-Resident Indians (NRIs) looking to invest their overseas earnings in India.
What are the ICICI NRE FD Rates?
As of 2024, the ICICI Bank NRE FD rates range from 6.00% to 7.20% per annum, depending on the tenure of the deposit.
The highest interest rate of 7.20% per annum is available for tenures ranging from 1 year to less than 18 months and from 18 months to less than 2 years. Other notable rates include 7.10% for deposits with tenures between 15 months to less than 18 months and 18 months to 2 years.
For tenures between 2 years 1 day to 3 years, the rate is 7.00%, and for tenures extending from 3 years 1 day to 10 years, the rate is 6.90%.
ICICI NRE FDs are highly beneficial due to their tax exemptions in India. Both the principal and the interest earned are fully repatriable, meaning that they can be transferred back to the NRI’s country of residence without any restrictions.
This feature makes ICICI NRE FDs an attractive option for NRIs looking to manage their funds efficiently while benefiting from attractive interest rates.
ICICI Bank also offers the convenience of opening an NRE FD online for existing customers through internet and mobile banking platforms. New customers may need to visit a branch or contact customer service for assistance.
Additionally, ICICI provides an auto-renewal facility, allowing depositors to renew their FDs automatically upon maturity.
For premature withdrawals, the bank imposes penalties. For deposits with a tenure of less than one year, no interest is payable, and no penalty is levied. For tenures of one year and above, a penalty of 1.00% applies for deposits below INR 50 million, and 1.50% for deposits of INR 50 million and above.
These are the
ICICI bank FD rates for NRI.
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vaishnavi
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2024-06-27T15:40:22+00:00 2024-06-28T21:33:30+00:00Comment
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