Interest on NRE | Union Bank of India

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Interest on NRE

Interest Rates for NRIs

The revised rates for different maturities for NRE Term Deposits, which will be effective from 15th June 2024 are given below:-

Period	Interest Rate (Rates in % per annum)
Period	<Rs. 3 Cr
1 Year	6.75
>1 Year to 398 days	6.75
399 days	7.25
400 Days to 2 years	6.50
> 2 year to 996 days	6.50
997 days	6.40
>998 days to less than 3 Years (except for 999 days @ 6.40)	6.50
3 Years	6.50
> 3 Year to 5 years	6.50
>5 Years to 10 Years	6.50

Interest rates are subject to change. Hence depositor should ascertain the rates as on the date of placement from the website.
Aggregate value of deposits placed by a depositor on the day irrespective of the tenor of deposit will be taken for deciding applicable interest.
In case of premature closure/withdrawal of NRE term deposits which have run for a period of 1 year and above, interest will be paid at the rate applicable for the run period with a penalty of 1%.
No interest will be paid if the deposit is closed/withdrawn before completion of 1 year from deposit effective date.
Please visit “Interest Rates – Deposits” section for rates on deposits of Rs. 2 crore and above.