Here’s a list of the best Fixed Deposits (FDs) that NRIs can avail.
A non-resident Indian (NRI) is an Indian citizen who lives abroad due to his/her employment for an indefinite period of time. Basically, they are Indians not residing in India. Whether you are an NRI or not, you shouldn’t shy away from investing your money.
Additional Reading: Banking For NRIs: A Primer
Investments such as Mutual Funds are comparatively less popular amongst the masses owing to the nature of its investment and the risk involved. The more traditional and preferred method of investing is still through Fixed Deposits (FD).
So, if you are a risk-averse investor looking for a steady rate of interest on your money, then the humble Fixed Deposit is your answer. That said, as an NRI, you can still invest your money in the country through bank Fixed Deposits.
Additional Reading: Financial Advice For NRIs Returning To India
However, you should know that not all banks may have the option open for NRIs to make an investment. But, here are some of the popular Fixed Deposits for NRIs to consider:
Name of the bank |
Interest Rate |
Maximum Deposit |
Special Features |
| IDBI Bank | 6.50 % – 6.75% | Up to Rs. 1 crore | · You can avail a loan of up to 90% of the principal and interest accrued
· Premature withdrawal facility is available |
| Vijaya Bank | 6.25% – 6.50% | Up to Rs. 1 crore | · Auto-renewal of FD on maturity is possible |
| Standard Chartered Bank | 6.50% – 6.85% | Up to Rs. 1 crore | · This FD account can be opened online
· Auto-renewal on maturity is available |
| IndusInd Bank | 6.50% – 6.85% | Up to Rs. 1 crore | · Loan facility available
· Auto-renewal on maturity is available too |
| Kotak Mahindra Bank | 6.60% – 7.3% | Up to Rs. 1 crore | · FD Account can be opened online
· Auto-renewal on maturity is available |
| DBS Bank | 6.3% – 6.70% | Up to Rs. 1 crore | · Pre-mature withdrawal is available on this FD |
| HDFC Bank | 6 % – 6.95% | Up to Rs. 1 crore | · You can avail a loan on your principal and interest accrued
· Partial and pre-mature withdrawal available |
| Axis Bank | 6.75% – 6.90% | Up to Rs. 1 crore | · Auto-renewal on maturity available
· Pre-mature withdrawal available |
| Allahabad Bank | 6.50% – 6.55% | Up to Rs. 1 crore | · You can avail a loan against the deposit amount |
| Bank of India | 6.50% – 6.70% | Up to Rs. 1 crore | · Pre-mature withdrawal is available |
| Canara Bank | 6% – 6.50% | Up to Rs. 1 crore | · Partial & pre-mature withdrawal available |
| Central Bank of India | 6.50% – 6.66% | Up to Rs. 1 crore | · You can avail a loan against the deposit amount
· Pre-mature withdrawal is available |
| Federal Bank | 6.70% – 7.10% | Up to Rs. 1 crore | · Pre-mature withdrawal available
· FD account can be opened online as well |
Please note: None of the above banks mentioned in this article is partnered with BankBazaar. You will need to get in touch with the respective banks directly to open a Fixed Deposit account.
Although a bit traditional, Fixed Deposits are a safe haven for your money. Most people resort to this form of investment as the risk factor on it is quite low as compared to any other equity-based investment method.
Psst! Whether you’re looking for a Fixed Deposit or a Mutual Fund or any other financial products like a Credit Card or a Personal Loan, we have plenty of options that you can choose from. Want to know how to go about it? It’s just a click away!