Best NRE Fixed Deposit Rates. An NRE Fixed Deposit is a term deposit wherein the NRI invests from a foreign country and currency to his Indian account and the currency will be converted into Indian rupees. Usually, an NRE term deposit is used to transfer foreign earnings or income and is completely tax-free. HSBC India's NRE Term Deposit is a fixed term deposit held in Indian Rupees. You can place an NRE Term Deposit with your foreign currency earnings. The deposit is maintained in Indian Rupees. Therefore the money you deposit in foreign currency is converted into Indian Rupees, as per the prevailing foreign exchange rate 1.
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- Term Deposits
Whether you are saving for the short term or the long term, you can earn higher rates of interest with Term Deposits from Citibank. With options to earn simple or compounding interest and multiple tenures to choose from, Term Deposits are a great way to save for your future needs.
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Fixed Deposit Rates In Usa
| Why Citi? | Non-Resident External Deposit (NRE) | Non-Resident Ordinary Deposit (NRO) | Foreign Currency Non-Resident (FCNR) |
|---|---|---|---|
Check RatesOpen NRE Deposit | Check RatesOpen NRO Deposit | Check RatesOpen FCNR Deposit | |
| Funds Transfer |
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| Interest Option | Option to choose between Simple Interest and compound interest. Simple interest is accrued monthly and paid quarterly to Rupee Checking Account. Compound Interest is accrued every 90 days and paid at maturity. Calculated on daily balances and paid quarterly | Option to choose between Simple Interest and compound interest. Simple interest is accrued monthly and paid quarterly to Rupee Checking Account. Compound Interest is accrued every 90 days and paid at maturity. Calculated on daily balances and paid quarterly | Interest is compounded every 180 days and paid upon maturity |
| Automatic Rollover | Automatic Roll over option available for convenience | Automatic Roll over option available for convenience | Automatic Roll over option available for convenience |
| Tenure | Minimum 365 days (1 year) Maximum 1825 days (5 years) | Minimum 7 days Maximum 1825 days (5 years) | Minimum 365 days (1 year) Maximum 1825 days (5 years) |
| Minimum Deposit Amount | INR 80,000 | INR 80,000 | USD 2000 or equivalent |
| Who can open an account | NRIs and PIOs | NRIs and PIOs | NRIs and PIOs |
| Who can be a joint holder | May be held jointly in the names of two or more NRIs/ PIOs or with a resident relative on 'former or survivor' basis as Power of Attorney holder. | May be held jointly in the names of two or more NRIs/ PIOs or with a resident relative on 'former or survivor' basis as Power of Attorney holder. | May be held jointly in the names of two or more NRIs/ PIOs or with a resident relative on 'former or survivor' basis as Power of Attorney holder. |
| Currency | Indian Rupees(INR) | Indian Rupees(INR) | US Dollar, British Pound, Euro, Japanese Yen, Australian Dollar, Canadian Dollar |
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| Repatriation | Principal and interest are fully repatriable | RBI allows repatriation only for current income up to USD 1 (one) million per financial year (April-March), for any bonafide purpose after payment of applicable taxes. | Principal and interest are fully repatriable |
Please Note:
Fixed Deposit Rates Singapore
- If you wish to open a new Citibank Term Deposit, you will also be required to open a Citibank NRI Savings Account. This is required to facilitate interest payout, mandate holders, and funding of the account.
- In case of pre-termination, the interest earned on a Term Deposit is calculated differently. Click here for an illustration
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