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NRI accounts and deposits

Offering you best in class banking facility for your savings and investments

Explore Our Different Types Of NRI Deposit Accounts

High interest rates and low risk factor make the Term Deposits a very popular form of investment for NRIs.

NRE Deposit

RFC Fixed Deposits

NRO Deposit

FCNR Deposit

FCNR Deposits with Forward Cover

NRE Deposit

Standard Chartered NRE Term Deposits helps you earn good returns on your Rupee investment in India which is freely repatriable.

  • NRE Deposit
    • * Features

      • NRE Term deposit account is maintained in Indian Rupees
      • Principal and interest are freely repatriable
      • Interest earned on the account is not subject to tax deduction at source
      • The tenure of the Term deposit ranges from 1 to 5 years.
      • A minimum deposit amount of INR 10,000 is required to create an NRE Term Deposit
      • Auto renewal facility
      • Overdraft facility available against deposit

      Click here to see Interest Rate

    • Interest Calculation:

      A. For term deposit with tenor below 1 quarter (3 months): Interest is calculated on the basis of actual number of days considering the year as 365 days.
      For term deposit with a tenure greater than 1 quarter: a) Interest for the quarter is calculated considering each quarter as 90 days and year as 360 days (90 days x 4 quarters). b) Interest for the last quarter is calculated on the basis of actual number of days considering the year as 365 days.
      Reinvestment Term Deposit: a) Interest for each completed quarter is calculated considering each quarter as 90 days and year as 360 days (90 days x 4 quarters). b) Interest for the last quarter is calculated on the basis of actual number of days considering the year as 365 days. c) Interest for each quarter is compounded.

      This methodology (A) is applicable for all rupee denominated deposits (Resident / NRO / NRE) opened after
      24 February 2009.

      B. Interest on Term Deposit will be calculated on the basis of ‘Actual number of days considering the year as 365 days’. For Reinvestment Term Deposit, Interest is compounded on a quarterly basis.

      This methodology (B) is applicable for all rupee denominated deposits (Resident / NRO / NRE) opened on and after 2nd January 2018.

RFC Fixed Deposits

Standard Chartered Bank’s RFC Fixed Deposit helps returning NRI’s like you to earn attractive interest rates on funds held in foreign currency.

  • RFC Fixed Deposits
    • * Features

      • Currency options: USD, GBP & EUR, CAD & AUD.
      • You can remit funds in any convertible currency; the funds will be converted to the above currencies based on your choice.
      • Tenures ranging from 1 to 3 years depending on the currency of deposit.
      • Principal & Interest earned is fully repatriable*

    • Interest Calculation:

      • The interest is calculated considering the number of days for the year as 360 days
      • The interest is calculated at intervals of 180 days each and thereafter for the remaining actual number of days. However interest payout to customer takes place at the maturity of the deposit.
      • Interest calculation on Reinvestment RFC Fixed Deposit will also follow the above methodology
      RFC Interest Rates w.e.f. 1st Aug 2022

      The interest rates on RFC term deposits are

NRO Deposit

Standard Chartered NRO Term Deposits helps you earn a higher rate of interest on your funds generated in India through rents, dividends etc.

  • NRO Deposit
    • * Features

      • Tenor ranges from 7 days to 5 years
      • Minimum amount to open an Online Term Deposit is ‘INR 10,000/- and the same can be made in multiples of ‘1/-
      • Options of simple interest and compound interest
      • Auto renewal facility
      • Overdraft facility available against deposit

      Click here to see Interest Rate

      Rupee Time deposits held in Domestic, Non-Resident Ordinary (NRO) Accounts:

    • Interest calculation methodology:

      A. For term deposit with tenor below 1 quarter (3 months): Interest is calculated on the basis of actual number of days considering the year as 365 days.
      For term deposit with a tenure greater than 1 quarter: a) Interest for the quarter is calculated considering each quarter as 90 days and year as 360 days (90 days x 4 quarters). b) Interest for the last quarter is calculated on the basis of actual number of days considering the year as 365 days.
      Reinvestment Term Deposit: a) Interest for each completed quarter is calculated considering each quarter as 90 days and year as 360 days (90 days x 4 quarters). b) Interest for the last quarter is calculated on the basis of actual number of days considering the year as 365 days. c) Interest for each quarter is compounded.

      This methodology (A) is applicable for all rupee denominated deposits (Resident / NRO / NRE) opened after
      24 February 2009.

      B. Interest on Term Deposit will be calculated on the basis of ‘Actual number of days considering the year as 365 days’. For Reinvestment Term Deposit, Interest is compounded on a quarterly basis.

      This methodology (B) is applicable for all rupee denominated deposits (Resident / NRO / NRE) opened on and after 2nd January 2018.

FCNR Deposit

The Standard Chartered FCNR (B) Term Deposits Account is an account designed to protect your investments from exchange rate fluctuations.

  • FCNR Deposit
    • * Features

      • Maintain a FCNR (B) deposit in the following currencies USD, GBP, EUR, AUD, CAD, JPY
      • Tenure of 1 to 3 years*
      • Tax free income earned on this account
      • Freely repatriable Interest and Principal
      • Auto renewal facility
      • Overdraft facility available against deposit
      • Initial funding: Remittance from abroad and transfer from existing NRE and FCNR Accounts

    • Interest Calculation:

      • The interest is calculated considering the number of days for the year as 360 days
      • The interest is calculated at intervals of 180 days each and thereafter for the remaining actual number of days. However interest payout to customer takes place at the maturity of the deposit.
      • Interest calculation on Reinvestment FCNR (B) Term Deposit will also follow the above methodology

FCNR Deposits with Forward Cover

You can now hedge your investments in either local or foreign currency deposits with forward cover. These exclusive fixed deposits for NRIs secure your investments against currency fluctuations. You may opt for a Forward Contract to protect against currency risks on both existing and new FCNR or NRE deposits.

  • FCNR Deposits with Forward Cover
    • * Features

      • Minimum amount of USD 5,000 per deposit

      Click here to see the FCNR rate

      Interest calculation for FCNR Deposits with Forward Cover is same as FCNR Deposit

NRI Fixed Deposit Accounts

Loan Against Property - Standard Chartered India

NRI Loan Against Property

Apply for NRI Mortgage Loan and get up to 70% of the market value of your residential property.

Top Up Loan - Standard Chartered India

NRI Remittance

Avail inward and outward remittance services at a very competitive forex rates.

Related Links

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NRO Savings Account
Online mutual funds

PIS Account
Remittance

Mariner Account
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Priority Banking
Basic Banking account

NRI Top Up Loan