Interest Rates

Interest Rates

The current interest rates of NRI Deposit Schemes and NRI Home Loans are:

*FOREIGN CURRENCY NON-RESIDENT DEPOSITS (FCNR) w.e.f. 01.04.2014 (% p.a.)

 

1Year<2Years

2Year<3Years

3Year<4Years

4Year<5Years

5Years

Rate

Yield

Rate

Yield

Rate

Yield

Rate

Yield

Rate

Yield

USD

1.56

1.60

1.59

1.65

3.05

3.27

3.48

3.82

3.85

4.27

GBP

1.91

1.97

2.49

2.61

3.82

4.15

4.07

4.53

4.29

4.80

EURO

1.55

1.59

1.49

1.54

2.64

2.81

2.82

3.05

3.01

3.27

CAD

2.47

2.55

2.40

2.51

3.61

3.90

3.86

4.28

4.09

4.56

AUD

3.71

3.87

3.96

4.22

5.23

5.82

5.53

6.37

5.74

6.65

JPY

1.34

1.37

1.20

1.24

2.22

2.34

2.27

2.42

2.34

2.50

RATE OF INTERSET ON NRI HOME LOANS IN INDIA EFFECTIVE RATE (W.E.F. 20/12/2013)

Amount of Loan (Rs.) For Other Borrowers For Women Borrowers
Upto 75 lacs 10.15%  10.10%
Above 75 lacs 10.30%  10.25%

NRE / NRO SAVINGS ACCOUNT RATE (w.e.f 03.05.2011)

Account type Rate
NRE 4%
NRO 4%

**NON-RESIDENT EXTERNAL RUPEE TERM DEPOSIT/RECURRING DEPOSIT
(w.e.f. 18.02.2014)

PERIOD Deposit less than Rs 1 Crore PERIOD / % per annum Rs. 1 Crore & above //
1 Year to less than 3 Years 9.00% 1 year to less than 2 years 8.25%
3 Years to less than 5 Years 8.75% 2 years to less than 5 years 8.50%
5 Years to 10 Years 8.50% 5 years to 10 years 8.50%

PERIOD RATE OF INTEREST ANNUALISED YIELD PRINCIPAL MATURITY VALUE
For 1 year 9.00% 9.31% 100000 109308
For 2 year 9.00% 9.74% 100000 119483
For 3 year 8.75% 9.88% 100000 129650
For 4 year 8.75% 10.34% 100000 141372
For 5 year 8.50% 10.46% 100000 152279
For 6 year 8.50% 10.94% 100000 165642
For 7 year 8.50% 11.45% 100000 180176
For 8 year 8.50% 12.00% 100000 195987
For 9 year 8.50%
12.58% 100000 213184
For 10 year 8.50% 13.19% 100000 231890

NRE RECURRING DEPOSIT

MONTHLY INSTALLMENT INR / PERIOD MATURITY VALUE (APPROX)
FOR 1 YEAR FOR 3 YEAR FOR 5 YEAR FOR 10 YEAR
INTT @PA 9.00% 8.75% 8.50% 8.50%
5000 62538 204987 372213 940693
10000 125076 409974 744426 1881386
15000 187614 614961 1116639 2822079
20000 250152 819948 1488852 3762772
25000 312690 1024935 1861065 4703465
50000 625380 2049870 3722130 9406930

NRO***/RESIDENT DOMESTIC DEPOSIT (Revised 18.02.2014)

PERIOD/ % per annum Deposit less than Rs 1 crore PERIOD / % per annum Rs. 1 crore & above //
7 days to 179 days 7.50% 7 days to 60 days 6.50%
180 days to 210 days 7.00% 61 days to less than 1 year 7.00%
211 days to less than 1 Year 7.50% 1 year to less than 2 years 8.25%
1 Year to less than 3 Years 9.00% 2 years to less than 5 years 8.50%
3 Years to less than 5 Years 8.75% 5 years to 10 years 8.50%
5 Years to 10 Years  8.50% - -
Rates are subject to change without notice
The revised interest rates are applicable only on fresh deposits and renewals of maturing deposits.
Note : Yield may vary depending upon the deposit period
* No interest is payable if the FCNR deposit is withdrawn before one year. In cases of other premature withdrawal, the interest paid shall be 1% below the rate applicable for the period deposit has remained with the Bank or 1% below the contracted rate, whichever is lower.
**No interest is payable if the NRE Fixed deposit is withdrawn before one year. In other cases of premature withdrawal, the interest paid shall be 0.5% below the rate applicable for the period deposit has remained with the Bank.
***Tax at 30.9% is deducted on Interest paid on NRO Deposits.
***In cases of premature withdrawal, the interest paid shall be 0.5% below the rate applicable for the period deposit has remained with the Bank or 0.5% below the contracted rate, whichever is lower.
***Submit copy of PAN issued by Income tax Dep., India for all NRO accounts & can apply for benefits of DTAA (Double Taxation Avoidance agreement)
**These instructions for premature withdrawal will apply only to fresh deposits and renewed maturing deposits.


For details of interest rates on deposits and loans, please visit our corporate website www.onlinesbi.com/nri.