NRE Fixed Deposits 2023: SBI Vs HDFC Vs ICICI Vs PNB

When investing in Non-Residential External (NRE) Fixed Deposits (FDs), it is critical to compare the interest rates given by various banks. Non-Indian Residents (NRI) have a variety of NRE Account options. Savings, current, recurring, and fixed deposit accounts are examples. Individual or combined NRE accounts can be opened.

The interest rates on NRE fixed deposits vary depending on the bank and the deposit quantity. Here's a comparison of NRE fixed deposits 2023 from SBI, HDFC Bank, ICICI Bank and PNB.

SBI

SBI offers 6.50 percent to 7.10 percent interest rates on terms ranging from one to ten years for amounts less than Rs 2 crore. The revised rates are effective from February 15, 2023.

HDFC

HDFC Bank provides a wide range of interest rates for various tenures, starting from 7 days to 10 years. For general citizens, the rates vary from 3% to 7.25% for amounts below Rs 2 crore, with the rates being effective from May 29, 2023. Senior citizens, on the other hand, enjoy slightly higher interest rates ranging from 3.50% to 7.75%.

ICICI Bank

ICICI Bank has recently updated its NRE FD interest rates, which are applicable from February 24, 2023. The bank now offers interest rates ranging from 6.70% to 7.10% for NRE FD tenures ranging from 1 year to 10 years.

PNB

Punjab National Bank (PNB) provides NRE fixed deposits with interest rates ranging from 6.50 percent to 7.25 percent for tenures spanning from 1 year to 10 years. These rates have been effective since May 18, 2023.