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NRE FD interest rates in July 2026: SBI, PNB, BOB, HDFC Bank, Axis Bank compared
5 min read | Updated on July 12, 2026, 16:04 IST
SUMMARY
NRE fixed deposits are tax-free in India; both the principal and interest earned are exempt from taxation.
NRE FD rates also depend on the quantum of money NRIs bring into the country. | Image: Shutterstock
Non-Resident External or NRE fixed deposit is a term deposit account exclusively for Non-Resident Indians (NRIs). In it, NRIs can park their foreign earnings in the domestic currency (Indian rupee) and earn interest. A host of factors influence NRE FD rates in India, including domestic interest rate scenario, liquidity needs of banks, global financial markets, regulatory changes and competition among others. Besides, unlike regular FDs, NRE FD rates also depend on the quantum of money NRIs bring into the country.
| Tenor | Below ₹3 crore |
|---|---|
| 1 year to less than 2 years | 6.25% |
| 444 days (Amrit Vrishti) | 6.45% |
| 2 years to less than 3 years | 6.40% |
| 3 years to less than 5 years | 6.30% |
| 5 years to 10 years | 6.05% |
| Tenor | Interest Rate (% p.a.) |
|---|---|
| 1 year | 6.25% |
| Above 1 year to 400 days | 6.25% |
| Above 400 days and up to 2 years (except 444 and 555 days) | 6.25% |
| Above 2 years and up to 3 years | 6.25% |
| Above 3 years and up to 5 years | 6.30% |
| Above 5 years and up to 10 years | 6.00% |
| bob Square Drive Deposit Scheme (444 days) | 6.45% |
| bob Golden Goal Deposit Scheme (555 days) | 6.75% |
| Tenor | Less than ₹3 crore |
|---|---|
| 1 year | 6.25% |
| Above 1 year to 389 days | 6.30% |
| 390 days | 6.30% |
| 391 days to 443 days | 6.30% |
| 444 days | 6.60% |
| 445 days to 665 days | 6.30% |
| 666 days | 6.50% |
| 667 days to 2 years | 6.30% |
| Above 2 years to 3 years | 6.30% |
| Above 3 years to 1203 days | 6.35% |
| 1204 days | 6.30% |
| 1205 days to 5 years | 6.35% |
| Above 5 years to 10 years | 6.00% |
| Tenure | Interest Rate (% p.a.) |
| 1 year to less than 15 months | 6.25% |
| 15 months to less than 18 months | 6.35% |
| 18 months to less than 21 months | 6.45% |
| 21 months to 2 years | 6.45% |
| 2 years 1 day to less than 2 years 11 months | 6.45% |
| 2 years 11 months (35 months) | 6.45% |
| 2 years 11 months 1 day to 3 years | 6.45% |
| 3 years 1 day to less than 4 years 7 months | 6.50% |
| 4 years 7 months (55 months) | 6.40% |
| 4 years 7 months 1 day to 5 years | 6.40% |
| 5 years 1 day to 10 years | 6.15% |
| Tenure | Interest Rate (% p.a.) |
|---|---|
| 1 year to less than 18 months | 6.25% |
| 18 months to 2 years | 6.30% |
| 2 years 1 day to 3 years | 6.45% |
| 3 years 1 day to 5 years | 6.50% |
| 5 years 1 day to 10 years | 6.50% |
| Tenure | Interest Rate (% p.a.) |
|---|---|
| 1 year – 1 year 10 days | 6.25% |
| 1 year 11 days to less than 13 months | 6.25% |
| 13 months to less than 15 months | 6.25% |
| 15 months to less than 18 months | 6.45% |
| 18 months to less than 2 years | 6.50% |
| 2 years to less than 3 years | 6.50% |
| 3 years to less than 5 years | 6.50% |
| 5 years to 10 years | 6.50% |
NRE FD accounts can be opened by a non-resident individual of Indian nationality or a Person of Indian Origin (PIO). In addition, NRIs can open a NRE FD jointly with another NRI. They can also add Persons of Indian Origin (PIOs) and Overseas Citizens of India (OCIs) as joint account holders.
Importantly, NRE fixed deposits are tax-free in India; both the principal and interest earned are exempt from taxation.
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