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NRE Recurring Deposit

Axis Bank offers the NRE Recurring Deposits. With NRE recurring deposits, you get easy funding and attractive interest rates along with flexible tenure and full repatriability. All these benefits makes it a great choice.

Features & Benefits

Fund with Foreign Currency

Fund your account with any convertible currency received from abroad to take advantage of the benefits offered.

Minimum Instalment Requirement

Deposit a minimum monthly instalment of ₹1,000, with additional deposits in multiples of ₹500 thereafter, to grow your investment.

24/7 Internet Banking

Enjoy the convenience of Free Internet Banking, providing 24-hour access to your account from anywhere, at any time.

Automatic Renewal

Continue earning interest seamlessly with automatic renewal of both the principal and interest at maturity.

Long-Term Investment

Benefit from long-term investments, with deposits available for periods ranging from 1 year to 10 years, depending on your financial goals.

Overseas Fund Transfer

Transfer funds overseas easily, as both the principal amount and interest earned are fully repatriable.

Tax-Free Interest

The interest earned on your deposit is not taxable in India, making it a tax-efficient investment option.

Nomination Facility

Ensure easy operations and secure your investment by availing of the nomination facility.

Competitive Exchange Rates

Enjoy competitive exchange rates when converting foreign currency into Rupees, ensuring better value for your investment.

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Eligibility Documentation

Eligibility for NRE Recurring Deposit

The following individuals are eligible to open NRE Recurring Deposit:

NRI (Non Resident Indian)
An Indian citizen residing outside India for the purpose of:

  • Employment, studies, business or vocation
  • Individual posted in UN organisation or official deputed abroad by Government of India or public sector undertakings
  • Indian nationals who may be Mariners or working on oil rigs or foreign registered airlines

PIO (Person of Indian origin)/ OCI (Overseas Citizen of India)
An individual holding a Foreign passport (other than Pakistani and Bangladeshi) who:

  • Has held an Indian passport at any point of time
  • Parent or their grandparent was Citizen of India by virtue of the Constitution of India or India Citizen Act 1955
  • Is a spouse of an Indian Citizen or spouse of PIO

Documentation for NRE Recurring Deposit

Please click here to know more about the documentation required for NRE Recurring Deposit

Check latest Interest Rates on NRE Recurring Deposits

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