Stretch the value of your foreign currency savings. Convert them into local currency and you can earn attractive interest income by placing your money in NRE Term Deposits.

Features

• Open a NRE term deposit with as little as Rs 50,000
• No penalty on premature withdrawal
• No interest is payable on deposits, if prematurely withdrawn in less than 12 months
• Minimum period is 1 year and maximum period is 3 years
• Interest income is not taxed in India
• Attractive interest rates
• Principal and interest amounts are both fully repatriable
• Nomination facility available