New FD rates released by Banks, check when the new rates come into effect

Date:

Share:

New FD rates for NRE accounts are now in effect. The account holders of SBI, HDFC Bank, ICICI Bank, Canara Bank, and PNB have begun to gain from new interest rates.FD rates

How do NRE accounts work?

Indians who reside overseas can also open bank accounts there. These folks make deposits into their Indian bank accounts in foreign currencies. These individuals’ bank accounts are referred to as non-resident external accounts. Rupees, the Indian rupee, are taken as payment from these accounts. Both a single account and a joint account may be opened here.FD rates

NRE FD Rates

Savings, current, and fixed deposit accounts are included in non-resident external accounts. Banks have different interest rates for NRE accounts. These accounts have a one-year minimum tenure requirement.

Details of Banks

Here are specifics regarding NRE fixed deposit interest rates from both public and private banks.FD rates

SBI – NRE FD Rates

State Bank of India offers interest rates between 6.50 percent and 7.10 percent for sums under two crores for a duration of one to ten years. In addition, SBI is paying interest on amounts over two crores in the range of 6.00 percent to 6.75 percent. The revised rates went into effect at the bank on February 15, 2023.FD rates

HDFC Bank

For amounts under two crores, NRE account holders will receive interest ranging from 6.60 percent to 7.10 percent; for amounts beyond two crores, they would receive interest ranging from 7.10 percent to 7.75 percent on behalf of HDFC Bank. These updated prices are effective as of February 21, 2023.FD rates

PNB

The NRE FD rates have been raised at PNB Punjab National Bank. Whereas in the previous year, rates were between 5.6 and 6.75 percent. Additionally, PNB raised these rates from 6.5 percent to 7.25 percent this year. With these rates, PNB officially launched on January 1, 2023.FD rates

Axis Bank – NRE FD Rates

For NRE accounts, ICICI Bank has maintained FD rates in the range of 6.70–7.10%. These rates will be in effect starting on February 24, 2023.FD rates

Canara Bank

For fixed deposits with terms ranging from one to ten years, Canara Bank has set an interest rate that ranges from 6.70 percent to 7.25 percent. Rates for Canara Bank are effective as of April 5, 2023.

Read more: Sonam Bajwa bold photoshoot in a red hot backless gown, see photos

🔥🔥 Join Our Group For All Information And Update, Also Follow me For Latest Information🔥🔥
🔥 Facebook Page                  Click Here
🔥 Twitter                               Click Here
🔥 Instagram                  Click Here

Subscribe to our magazine

More Like This

Recruitment in the Central Bank for Correspondent Supervisor Vacancy 2024

The Recruitment process for the position of Business Correspondent Supervisor has begun at the Central Bank of India. Interested parties have until January 3,...

Railway RRB has announced bumper recruitment for 1036 posts, know details

Recruitment for Ministerial and Isolated Posts (CEN 07/2024) has been made public by Indian Railways. Online applications will be accepted starting on January 7,...

Know the features of the electric car Audi Q8 eTron, from performance to range

The Audi Q8 e-tron is a powerful blend of technology and luxury. This electric car has a high-end appearance, and its inside is packed...

Budget 2025 Expectations: Taxes, Capital Gains, NPS & Crypto Reliefs

Anticipation is growing in many sectors as the Finance Minister and her staff begin to draft the Union Budget 2025. Both taxpayers and those...

The next generation of AirPods Pro may include health capabilities like temperature and heart rate tracking

Apple's next AirPods Pro might come with health features. Mark Gurman of Bloomberg reports that the company is exploring earbud capabilities including temperature and...

LEAVE A REPLY

Please enter your comment!
Please enter your name here