Best NRE FD Rates for NRIs: SBI, HDFC, ICICI, PNB & More; Which Bank Offers the Best Returns? Comparison Here

Non-Resident Indians (NRIs) looking for stable returns without taking exposure to the stock market continue to favour Non-Resident External (NRE) fixed deposits. Besides offering fixed returns in Indian rupees, NRE FDs also provide tax-free interest in India and full repatriation of both principal and interest, making them a popular savings option for overseas Indians.

As of July 14, 2026, several leading public and private sector banks are offering attractive interest rates on NRE fixed deposits below Rs 3 crore.

NRE FD Interest Rates: Which Bank Offers the Highest Returns?

Central Bank of India is currently offering the highest NRE fixed deposit interest rate among major banks. NRIs can earn up to 6.70% per annum on deposits below Rs 3 crore with a 444-day tenure.

Punjab National Bank (PNB) is the next best option, offering a maximum 6.60% interest rate on NRE fixed deposits for a 444-day tenure.

ICICI Bank also offers a top rate of 6.60% per annum, but across a much wider tenure range of two years one day to 10 years, making it an attractive choice for NRIs planning long-term deposits.

HDFC Bank is offering up to 6.50% on NRE fixed deposits. Its highest rate applies to deposits with a tenure of three years one day to less than four years and seven months.

Axis Bank matches HDFC Bank with a maximum 6.50% interest rate. However, the bank offers this rate across a broader maturity period of 18 months to 10 years, providing greater flexibility for depositors.

State Bank of India (SBI), the country's largest public sector lender, currently offers a maximum 6.45% on NRE fixed deposits with a 444-day tenure.

Bank-wise NRE FD Rates: Who Offers the Highest Interest?

Central Bank of India NRE FD Rates- 6.70% (444 days)
Punjab National Bank (PNB) FD Rates - 6.60% (444 days)
ICICI Bank NRE FD Rates- 6.60% (2 years 1 day to 10 years)
HDFC Bank NRE FD Rates- 6.50% (3 years 1 day to less than 4 years 7 months)
Axis Bank NRE FD Rates- 6.50% (18 months to 10 years)
SBI NRE FD Rates - 6.45% (444 days)

Which NRE FD Should You Choose?

While Central Bank of India currently offers the highest interest rate at 6.70%, NRIs should not base their decision solely on the headline rate. Factors such as investment tenure, liquidity requirements, premature withdrawal rules and the overall banking relationship are equally important. For those looking for longer-term deposits with flexible maturities, ICICI Bank, HDFC Bank and Axis Bank also offer competitive options.

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