Interest rates for NRE Rupee term deposits for
January 2012
, is as under :
Period
Existing rates (NRE)
Revised Rates on NRE Deposits
w.e.f. 01.01.2012
For less than 1 Crore
For 1 Crore and above
1 year to less than 2 years
7.50
9.25
9.00
2 years to less than 3 years
7.50
9.25
8.75
3 years to less than 5 years
6.75
9.00
8.75
5 years to 10 years
6.75
9.00
8.50
The revised interest rates will be applicable for all fresh NRE term deposits accepted or renewed on and after 01.01.2012.
No interest is payable if the deposit is prematurely closed before the minimum period of one year. Above one year, premature payment attracts penalty of 1 %
The interest rate for NRE Savings Deposits is 4.0 % p.a. as applicable to Domestic Savings Deposits.
