Many Non-Resident Indians (NRIs) prefer Non-Resident External (NRE) fixed deposits that are a low-risk and reliable investment option. Non-Resident External (NRE) fixed deposit (FD) schemes allow NRIs to invest foreign earnings in Indian rupees.
Apart from offering assured returns, NRE FDs come with two main advantages; they are exempt from income tax in India on the interest earned, and both the principal amount and interest can be freely repatriated abroad.
Here is a look at the latest NRE fixed deposit interest rates offered by major banks, including SBI, HDFC Bank, ICICI Bank, PNB, Axis Bank and Central Bank of India, as of July 14, 2026.
Here is a look at the latest NRE FD interest rates of key banks . (NRE FD interest rates as on July 14, 2026; interest rates from bank websites.
SBI NRE FD rates
SBI offers NRE FD rates between 6.05% to 6.45% (Amrit Vrishti) for tenure ranging from 1 year to 10 years for amounts less than Rs 3 crore. The interest rate on 5-10 FDs is 6.05%. The current SBI NRE term deposit rates are applicable from March 15, 2025. Note that no interest is paid if the deposit is withdrawn before one year.
Central Bank of India NRE FD rates
Central Bank of India offers NRE FD rates between 6.10% to 6.70% (special deposit) for tenure ranging from 1 year to 10 years for amounts less than Rs 3 crore. The highest rate is available on the 444-day FD, while FDs from three years to up to 10 years provide a 6% interest rate each.
As per Central Bank of India’s website, “In case of premature withdrawal, no interest is payable if the account is closed before the completion of 1 year. A 1% penal interest is to be applied (as applicable) if the account is closed before maturity after the completion of 1 year.”
PNB NRE FD interest rates
The interest rate ranges from 6% to 6.60% for a tenure from 1 year to 10 years for amounts less than Rs 3 crore. PNB offers its highest FD rate of 6.60% on a tenure of 444 days. A 6% interest rate is being offered on NRE FDs of 5-10 years. The rates are effective from June 1, 2026.
HDFC Bank NRE FD rates
The minimum tenure for HDFC Bank NRE Deposit is 1 Year. The interest rate ranges from 6.25% to 6.50% for tenures from 1 year to 10 years. The highest FD rate of 6.50% is offered on tenures of 3 years 1 day to less than 4 years 7 months. The rates are effective from March 6, 2026.
Note that the minimum tenure for NRE deposit is 1 year.
Axis Bank NRE FD interest rates
The interest rate ranges from 6.25% to 6.50% for tenures from 1 year to 10 years for amounts less than Rs 3 crore. The highest interest rate of 6.50% is applicable on tenures from 18 months to 10 years. The rates are effective from July 7, 2026.
Compare NRE FD interest rates of top banks
| Bank | Highest NRE FD Interest Rate (% p.a.) | Tenure |
| State Bank of India (SBI) | 6.45% | 444 days (Amrit Vrishti) |
| HDFC Bank | 6.50% | 3 years 1 day to less than 4 years 7 months |
| ICICI Bank | 6.60% | 2 years 1 day to 10 years |
| Punjab National Bank (PNB) | 6.50% | 444 days |
| Axis Bank | 6.50% | 18 months to less than 2 years |
| Central Bank of India | 6.70% | 444 days |
(As on July 14, 2026)
