NRI Recurring Deposit 2025

Check Your Credit Score for FREE

NRE/NRI Recurring Deposit (RD)

In NRE Recurring Deposit Scheme, the money for deposit comes only from Non - Residential External Accounts. Most banks in India allow NRE Deposits for a minimum tenure of 1 year and the amount of deposit and the interest rate varies from bank to bank.

A major advantage of investing money in this scheme is that the interest that NRIs earn from this deposit scheme is not taxable in India. Some banks also allow people to deposit different amounts every month in their recurring deposit accounts.

There are many banks in India that offer recurring deposit schemes to NRIs. Some of them are:

1. ICICI Bank
2. Andhra Bank
3. Axis Bank
4. Bank of India
5. Bank of Maharashtra
6. Canara Bank
7. Central Bank of India
8. Corporation Bank
9. HDFC
10. Indian Bank
11. J & K Bank
12. Karur Vyasa Bank
13. State Bank of India
14. Syndicate Bank
15. Yes bank
16. State Bank of Hyderabad
17. Oriental Bank of Commerce
18. IDBI Bank
19. Karnataka Bank
20. South Indian Bank
21. Federal Bank
22. Dhanalakshmi Bank
23. State Bank of Bikaner and Jaipur
24. Lakshmi Vilas Bank
25. Bharatiya Mahila Bank
26. Saraswat Bank
27. Punjab & Sind Bank

RD Interest Rates by Banks

1. Uco Bank RD Interest Rates
2. Central Bank RD Interest Rates
3. Federal Bank RD Interest Rates
4. Indian Bank RD Interest Rates
5. Kotak Mahindra RD Interest Rates
6. IOB RD Interest Rates
7. Citybank RD Interest Rates
8. Indusind Bank RD Interest Rates
9. BOM RD Interest Rates

RD Article Pages

1. Recurring Deposit Vs. Chit Fund
2. Miss to Pay the Recurring Deposit Due
3. Difference Between Recurring Deposit and SIP
4. Open RD Account through HDFC NetBanking
5. RD Account in SBI
6. Advantages of Recurring Deposit
7. Flexi RD
8. SBI Flexi RD Schemes
9. Monthly Recurring Deposit
10. Indian Bank Recurring Deposit
11. Union Bank Recurring Deposit
12. UCO Bank Recurring Deposit

Check Your Credit Score Now

A good credit score can help you secure lower interest rates on loans and credit cards.

Get Free Credit Score

FAQs on NRI Recurring Deposit (RD)

• What is the maximum period of NRE deposit?

  The NRE term deposit has a minimum of one year and a maximum of ten years. The quarterly interest earned on a cash certificate will be added to the principal, which is a reinvestment plan. It is acceptable to remove a deposit early.  

• What is an NRE recurring deposit account?

  A Non Resident External (NRE) Recurring Deposit is basically a type of bank deposit which is being linked to your NRE deposit. This is a type of account where you can deposit all your foreign earnings in the form of the currency of your foreign country where you reside right now. It helps you in maintaining your earnings abroad as an NRI. A person can open his or her NRE RD (Recurring Deposit) with the help of the internet banking account that is linked to their NRE account. With the help of internet banking, you can transfer money from the NRE account to the RD account. 

• Is interest earned on NRE or NRI account taxable?

  No, tax is applicable on NRE or NRI account.  

• Can an NRI open an account with zero balance?

  Yes, a person creating an account before departing for a foreign country with no balance can do so if they are starting a new job, business, or profession. He or she must next send money in a timely manner to make the account operational; else, only a chequebook will be given.

• Can an NRI invest in a recurring deposit account?

  Yes, an NRI can definitely invest in a recurring deposit account. A recurring deposit is basically a facility available to NRIs in order to convert a small amount of monthly savings in the form of a sizeable amount. It is an excellent form of savings for the NRI customers in the fixed monthly income groups. The interest rates that banks give on their recurring deposit plans are comparable to those on fixed deposits. 

• What is the difference between NRE and NRO RD?

  A Non Resident External (NRE) is a type of bank account which is opened in India for an NRI to save his or her earnings made in a foreign country. On the other hand, a Non Resident Ordinary (NRO) account is a type of bank account that is opened in India in the name of an NRI in order to manage the income which is earned by him or her in India. The incomes can be pension, interest, dividend, rent, etc. An NRI can open a joint NRO account with one or more than one NRIs or Indian citizens. A joint NRE account, however, can only be opened with another NRI. 

• Can NRI accounts to be opened from abroad also?

  Yes, an NRI can definitely open accounts from a foreign country by sending duly filled as well as signed Account Opening Form (AOF) duly attested by Indian Consulate along with the self attested copies of Visa and passport.