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Frequently Asked Questions

Can my NRE deposits with the bank automatically get renewed on maturity?

If you provide specific instructions during the opening of Fixed Deposit, it will be executed in accordance to that. However, in absence of any specific instruction, deposits will be renewed for the same period at the rates prevailing at the time of maturity.

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Can I repatriate funds held in my NRE Fixed Deposit?

Yes, the funds held in your NRE Fixed Deposit are fully and freely repatriable (both principal and Interest).

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Will I get a cheque book and a global debit card when I open NRE Fixed Deposit?

No, you will not get cheque book and global debit card with your NRE Fixed Deposit. You shall get a fixed deposit advice on booking a NRE deposit.

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Is premature withdrawal facility available in my NRE Fixed Deposit? If yes, what would be the fore closure charges applicable?

The Premature withdrawal of Retail Fixed Deposit is permissible. However, the interest will be paid at the rate prevailing on the date of deposit for the tenure the deposit remained with the bank or at the contracted rate, whichever is lower. Further, the Bank will levy a penal charge from time to time for such premature withdrawals as prescribed below for Fixed Deposits booked/ renewed on or after 1st November, 2012.

Tenure of Fixed Deposit Penalty
Less than 1year Nil
1 year and above 0.50%

Interest on Fixed Deposit will be compounded at quarterly rests in case of reinvestment deposits subject to keeping the deposits with the Bank for a minimum tenor of 1 year and above.
No interest is payable on the Fixed Deposits held for less than 1 year.

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What is the minimum amount required to open a NRE Fixed Deposit?

The minimum amount required for opening NRE Fixed Deposit is Rs. 50,000/- only.

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