NRI Banking - ESAF Small Finance Bank

NRI Banking

NRO Deposits

Interest Rates for Non-Resident Ordinary (NRO) Term Deposits (Less than Rs.200 lakhs)

Period Rate of Interest effective from 01/08/2021
7 days to 14 days 4.00%
15 days to 59 days 4.50%
60 days to 90 days 5.25%
91 days to 181 days 5.50%
182 days 5.00%
183 days to 363 days 6.00%
364 days 5.25%
365 days & 366 days 6.25%
367 days to 545 days 6.00%
546 days 5.00%
547 days to 727 days 6.00%
728 days 5.25%
729 days to 909 days 6.00%
910 days 5.25%
911 days to 1091 days 6.00%
1092 days 5.25%
1093 days to 1273 days 5.75%
1274 days 5.25%
1275 days -1455 days 5.75%
1456 days 5.25%
1457 days-1637 days 5.75%
1638 days 5.25%
1639 days-1819 days 5.75%
1820 days 5.25%
1821 days to 3653 days 5.25%

Notes:

  1. Interest rates as above are applicable for new NRO term deposits and renewal of existing NRO term deposits.
  2. Rate of interest applicable for NRO term deposits of Senior Citizens is the same as above.
  3. Income Tax deduction at source from the interest paid on NRO term deposits will be made, as per the Income Tax rules.
  4. The minimum tenor for NRO term deposits is 7 days.
  5. No interest would be payable for NRO term deposits prematurely withdrawn before completion of a period of 7 days from the date of deposit.
  6. Penalty for premature closure will be applicable for NRO term deposits, as per rules.
  7. The interest rate applicable on premature closure of NRO term depositswill be (a) or (b) below, whichever is lower, subject to penalty for premature closure.
    (a) The rate of interest for the original/contracted tenor of the deposit
    (b) The rate of interest which was applicable at the time of opening of the deposit, for the tenor for which the deposit has remained with the Bank.
  8. The above rates of interest are applicable for NRO Recurring Deposits also.
  9. Rates of interest are subject to revision periodically.
  10. For help, email to nrihelpdesk@esafbank.com.
  11. Customers may please contact our Branches for details of interest rates for deposits of Rs 200 lakhs and above.

 

NRE Deposits

Interest Rates for Non-Resident External (NRE) Term Deposits (Less than Rs.200 lakhs)

Period Rate of Interest effective from 01/08/2021
365 days & 366 days 6.25%
367 days to 545 days 6.00%
546 days 5.00%
547 days to 727 days 6.00%
728 days 5.25%
729 days to 909 days 6.00%
910 days 5.25%
911 days to 1091 days 6.00%
1092 days 5.25%
1093 days to 1273 days 5.75%
1274 days 5.25%
1275 days -1455 days 5.75%
1456 days 5.25%
1457 days-1637 days 5.75%
1638 days 5.25%
1639 days-1819 days 5.75%
1820 days 5.25%
1821 days to 3653 days 5.25%

Notes:

  1. Interest rates as above are applicable for new NRE term deposits and renewal of existing NRE term deposits.
  2. Rate of interest applicable for NRE term deposits of Senior Citizens is the same as above.
  3. The minimum tenor for NRE term deposits is 365 days.
  4. No interest would be payable for NRE term deposits prematurely withdrawn before completion of a period of 365 days from the date of deposit.
  5. Penalty for premature closure will be applicable for NRE term deposits, as per rules.
  6. The interest rate applicable on premature closure of NRE term deposits will be
    (a) or (b) below, whichever is lower, subject to penalty for premature closure.
    (a) The rate of interest for the original/contracted tenor of the deposit
    (b) The rate of interest which was applicable at the time of opening of the deposit, for the tenor for which the deposit has remained with the Bank.
  7. The above rates of interest are applicable for NRE Recurring Deposits also.
  8. Rates of interest are subject to revision periodically.
  9. For help, email to nrihelpdesk@esafbank.com
  10. For deposits greater than Rs. 2 crore, please contact your nearest branch for the interest rates.
  11. Customers may please contact our Branches for details of interest rates for deposits of Rs 200 lakhs and above.

For more details, Please contact: nrihelpdesk@esafbank.com
Phone: +91 4877 - 123 654, 655

Click here for Terms and Conditions.