Highest NRE FD interest rates (currently at 10%)...

zen · Post by **zen** » Sat Jul 07, 2012 4:02 am

sneha0508;455451Is one nationalized bank better than the other. How do we judge the strength of the bank . Indian bank is giving interest rate close to 9.5% on NRe while SBI is giving 9%. Does it make sense to go with SBI since its a bigger bank or should we be ok with any nationalized bank. I would like to minimize the risk of loosing the principal amount in case of financial crisis in Indian banks.

This is a very good question. I was in India recently and discussed this same point with few of my Indian friends and almost everyone recommended me to go with SBI because it is a nationalized stable bank which is also India's largest bank. If SBI fails, then India will default. A lot depends on how much you are investing & whether it is worth the risk. I mean, if you deposit 1 crore then you are looking at a difference of 50K. For someone that has 1 crore in fixed deposit, the 50K should not make a huge difference, right?

I would go with SBI any day. BTW, I learnt that if you deposit 1 crore in FD, then you cannot have cumulative interest - the interest will need to be deposited in your savings bank account periodically.

v_sri100 · Post by **v_sri100** » Thu Jul 19, 2012 2:06 pm

I'm also looking investment in NRE FDs. I'm so far not able to figure out the actual process of repatriating money from NRE account ( esp SBIR or HDFC ) back to US. What forms to fill etc ? is it completely online ?
Would appreciate information from folks who have done it or point me to a thread which might have discussed it.

Thanks

Jaggudada · Post by **Jaggudada** » Thu Jul 19, 2012 11:37 pm

What is the reason for offering such high interest rate? inflation? I have some FD's that will come for renewal. Should I lock them for 3-4 yrs at higher interest rates? I don't think interests rates would go any higher? Chances of going down is more than going up.

Froogle · Post by **Froogle** » Fri Jul 20, 2012 12:18 am

Jaggudada;466444What is the reason for offering such high interest rate? inflation? I have some FD's that will come for renewal. Should I lock them for 3-4 yrs at higher interest rates? I don't think interests rates would go any higher? Chances of going down is more than going up.

It was suggeted earlier on r2i finance forum to even cancel the existing FDs and go for a longer possible period FDs with new rate. SBI was offering 9.5% on 10 year NRE FD with daily balance (maximum yeild). SBI already reduced to 9% now. Remember NRE savings/current account still only have 4% interest.

Chakraan · Post by **Chakraan** » Fri Jul 20, 2012 12:39 am

Jaggudada;466444What is the reason for offering such high interest rate?

Congress and Dr. Manmohan Singh :))

http://www.ratekhoj.com/fixed-deposits/nri-fixed-deposits/newnrefdresults.php?post=Submit+your+choices&duration=3+-+4+years&allbox=all+institutions&inst%5B%5D=Public+Sector+Banks&inst%5B%5D=Indian+Private+Sector+Banks&inst%5B%5D=Foreign+Banks&citizentype=non-senior&amt=all+deposit+amounts&sorttype=rate&sortorder=DESC&filewrite=0

MunnaBhaiNRI · Post by **MunnaBhaiNRI** » Sun Sep 16, 2012 10:42 pm

Best picked up
Karur Vysya Bank @9.5%, City Union Bank @9.5%

mani1120 · Post by **mani1120** » Sun Nov 23, 2014 2:40 pm

dear madam, i help you to open an account in indian bank with fd rate of 11.50 percent.

WglVanitha · Post by **WglVanitha** » Thu Dec 25, 2014 10:20 pm

Anyone looking into NRE FD recently. Banks have reduced interest rates by 0.25% so it decreased from 9% to 8.75 and SBI further down to 8.5%

i am looking to invest in Bankofindia FD, primarily being central govt bank, and giving better rate than SBI. My question is, would anyone be able to let me know if BOI has internet FD creation and proper online banking to transfer the interest etc., via netbanking like the private banks?

I enquired in a branch London, and I was told that I have to send money from here and I will get FD certificate and to transfer any interest amount, I have to call them and instruct which is a hassle it seems.

Anyone who has FDs with bankofindia please shed some light on this or suggest any govt banks for FDs other than SBI. Thanks in advance.

RAJESH H DHRUVA · Post by **RAJESH H DHRUVA** » Sun Dec 28, 2014 11:09 am

Dear All

Our website nribanks.com is probably the only website showing updated interest rates for various foreign currencies and Indian Rupee deposits offered by Indian banks to overseas Indians / NRIs.

2. Interest rates offered on INR NRE deposits as of 1st December can be viewed at http://www.nribanks.com/currency.php?id=36 whereas each bank's rates can be viewed in alpha order thereunder.

Best wishes
RAJESH H DHRUVA
femaonline.com

Dicky_Bird · Post by **Dicky_Bird** » Sun Dec 28, 2014 6:57 pm

Thanks Rajesh,
very informative site

RAJESH H DHRUVA;589105
Dear All

Our website nribanks.com is probably the only website showing updated interest rates for various foreign currencies and Indian Rupee deposits offered by Indian banks to overseas Indians / NRIs.

2. Interest rates offered on INR NRE deposits as of 1st December can be viewed at http://www.nribanks.com/currency.php?id=36 whereas each bank's rates can be viewed in alpha order thereunder.

Best wishes
RAJESH H DHRUVA
femaonline.com