NRE Saving Account and FD Rates from 12 major banks in 2023

Bank, Desk, Buy – Single Word, Finance, Savings

Here are some important features related to some of the top NRE Saving Account for Non-Resident Indians in 2023.

  1. Axis Bank NRE Saving Account
    • The average minimum balance in an NRE Axis bank account is Rs. 10,000.
    • NRE deposit rates for Axis bank start from 6.75% for 1 year.
    • Axis FD rates calculator
    • The account can be operated jointly by an Indian resident on behalf of the NRI.
    • The account can be managed easily through net banking.
    • Axis bank Official Website
  2. Bank of Baroda NRE Saving Account
    • The average minimum balance in an NRE Bank of Baroda account is Rs. 50,000 per quarter.
    • NRE deposit rates start from 6.75% for 1 year.
    • FD rates BOB
    • 24-hour net banking facility available.
    • Tax exemption is available on the interest earned on NRE income.
    • BOB bank Official Website
  3. Canara Bank NRE Saving Account
    • The average minimum balance in an NRE account is Rs. 1,00,000.
    • NRE account deposit rates start from 6.90% for 1 year.
    • FD rates in Canara Bank
    • Various other deposit schemes are available for NRIs.
    • The nomination facility is available in the Canara bank NRE account.
    • bank Official Website and Form
  4. Citibank NRE Saving Account
    • CITI bank do not offer account service in India, Website will redirect you to Axis bank
    • bank Official Website
  5. DBS Bank NRE Saving Account
    • Average minimum balance in an NRE account is Rs. 5 lakhs.
    • NRE account deposit rate starts from 3.25% for 1 year.
    • FD rates in DBS
    • A nomination facility is available and it also offers the facility of 2 or more joint account holders.
    • Internet banking facility is available for all the account holders.
    • bank Official Website
  6. HDFC Bank NRE Account
    • The average balance in an HDFC NRE account is:
      • Rs. 10,000 in urban cities
      • Rs. 5,000 in rural areas
    • NRE account deposit rate starts from 6.60% for 1 year.
    • FD rates in HDFC
    • Internet banking facilities and international debit cards are available for all NRE account holders.
    • bank Official Website
  7. ICICI Bank NRE Account
    • The average minimum balance in an NRE account is Rs. 10,000.
    • The interest rate starts from 6.70% for 1 year.
    • FD rates in ICICI
    • Tax exemption and full repatriability of funds available in India.
    • Internet banking facility available for all.
    • bank Official Website
  8. Kotak Mahindra Bank NRE Account
    • The average minimum balance of Kotak Mahindra bank NRE account is Rs. 10,000 monthly.
    • The interest rate starts from 7.10% for 1 year.
    • FD Rates in Kotak Mahindra bank
    • Internet banking and home banking are available in India.
    • The account can be opened jointly by NRIs and PIOs only.
    • bank Official Website
  9. RBL Bank NRE Account
    • RBL is not very friendly bank for NRI, Not recommended
    • Most of the website is not accessible in some countries
    • The average minimum balance of the NRE account is Rs. 50,000.
    • The interest rate starts from 5.40% for 1 year.
    • Internet banking is available for all account holders.
    • International debit card services are also available.
    • bank Official Website
  10. SBM Bank NRE Account
    • There is no minimum balance applicable for the SBM NRE account.
    • The interest rate starts from 6.250% for 1 year.
    • FD rates in SBM
    • The principal amount and interest are fully repatriable.
    • bank Official Website
  11. State Bank of India NRE Account
    • The average balance in a State Bank of India NRE account is:
      • Rs. 1,00,000 in urban cities
      • Rs. 50,000 in rural areas
    • NRE account deposit rate starts from 6.8% for 1 year.
    • FD Rates
    • Internet banking facilities and international debit cards are available for all NRE account holders.
    • bank Official Website
  12. Yes Bank NRE Account
    • The average balance in Yes Bank NRE Account is Rs. 10,000.
    • NRE account deposit rate starts from 7.50% for 1 year.
    • FD rates
    • Internet banking facility is available for all the account holders.
    • A personal relationship manager is assigned to all the account holders.
    • bank Official Website

How familiar are you with Taxactions

while staying abroad is great , But taxation can get more complicated. 
Check you knowledge for Taxation while staying abroad. 

Stay away from these banks for NRE Saving accounts

  • Citibank NRE Saving Account
  • RBL Bank

Contact us , and we will try our best to help you.

for more news and information , follow our website overseas-indian.com.