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NRO Term Deposits - below INR 2 Crores

Period Revised Interest as on 1st March 2022
(Below INR 2 Crores)
15 days to 45 days 2.90 % p.a.
46 days to 90 days 3.65 % p.a.
91 days to 109 days 4.00 % p.a.
110 days 4.35 % p.a.
111 days to 180 days 4.00 % p.a.
181 days to 364 days 4.90 % p.a.
365 days to 24 months 5.10 % p.a.
Above 24 months to 36 months 5.50 % p.a.
Above 36 months to 60 months 5.75 % p.a.
Above 60 months to 120 months 5.60 % p.a.
Tax Exemption Scheme [5 years] 5.75 % p.a.

Note: AV Deposit Scheme – 366 Days (Simple Interest) & Mangal Moorti Scheme – 24 months (Interest Payout): These Schemes will have interest rate payable as per 365 days to 24 months tenor slab only.

NRO Term Deposits - INR 2 Crores and above

Period Revised Interest as on 1st March 2022
(INR 2 Crores and above)
15 days to 45 days 2.90 % p.a.
46 days to 90 days 3.25 % p.a.
91 days to 109 days 3.75 % p.a.
110 days 3.80 % p.a.
111 days to 180 days 3.75 % p.a.
181 days to 364 days 4.25 % p.a.
365 days to 24 months 4.75 % p.a.
Above 24 months to 36 months 5.00 % p.a.
Above 36 months to 60 months 5.00 % p.a.
Above 60 months to 120 months 5.00 % p.a.

Note: AV Deposit Scheme – 366 Days (Simple Interest) & Mangal Moorti Scheme – 24 months (Interest Payout): These Schemes will have interest rate payable as per 365 days to 24 months tenor slab only.

Note: NRI/PIO may remit an amount not exceeding USD 1 Million per financial year out of balances held in NRO accounts/ sale proceeds of assets subject to payment of applicable taxes.

NRO Saving Bank A/c:  2.75%