NRI Fixed Deposit Rates in India 2026

Top 10 Banks Offering Best NRI FD Rates - Highest FD Rates Online 2026

NRIs living in the US can invest in fixed deposits in India through NRE, NRO, and FCNR accounts offered by leading Indian banks. The interest offered in an NRI FD depends on the FD type chosen. Some of the popular banks offering fixed deposit services for US-based NRIs in India are shown in the table below for deposits up to ₹5 crores:

Note: The NRI FD interest rates mentioned above are the latest, as mentioned by respective banks.

NRI FD Rates of Top Public Sector Banks in India 2026

For US-based NRIs, public sector banks are preferred due to their robust presence, reputation and dedicated banking services. Check the latest NRI FD rates across some of the popular public sector banks in India for deposits up to ₹5 crores:

Note: The NRI FD interest rates mentioned above are the latest, as mentioned by respective banks.

NRI FD Rates of Top Private Sector Banks in 2026

Private sector banks provide a wide range of deposit choices for NRI such as digital banking, flexible tenures and hassle-free account maintenance. Here are the interest rates for NRI fixed deposits in some of the top 10 private sector banks for deposits up to ₹5 crores:

Note: The NRI FD interest rates mentioned above are the latest, as mentioned by respective banks.

NRI FD Rates Offered by SFBs, Foreign Banks, & NBFCs in 2026

Apart from conventional banks, there are Small Finance Banks, foreign banks and NBFCs, which offer fixed deposit choices which can suit the investing preferences of NRIs. Here are NRI FD rates for deposits of up to ₹5 crores:

Note: The NRI FD interest rates mentioned above are the latest, as mentioned by respective banks.

FD Rates in India for NRIs Based on Different Deposit Types

The NRI fixed deposit rates vary with the type of account selected. Both NRE and FCNR deposits are offered by most banks. Meanwhile, some banks also provide Resident Foreign Currency (RFC) deposit facilities, which allow returning NRIs to hold funds in foreign currencies.

NRE FD Rates Offered by Leading Banks in India

NRE fixed deposits are among the most popular investment options for NRIs due to their restriction-free repatriation and tax benefits. Here is the list of banks offering the best NRE FD rates in 2026 for NRIs living in the US:

FCNR Deposit Interest Rates Offered by Indian Banks

The FCNR deposits are fixed deposits opened in specified foreign currencies by NRIs to hedge their risks against fluctuations in foreign exchange rates. The following table lists the FCNR account deposit interest rates (% p.a.) of multiple banks:

RFC Deposit Interest Rates Offered by Indian Banks

RFC deposits are designed for returning NRIs who wish to hold foreign currency deposits after becoming residents in India. Select banks offer RFC deposit rates (% p.a.) for multiple currencies.

Benefits of NRI Fixed Deposits in India

Here are some key benefits of investing in fixed deposits in India for NRIs:

• High Interest Rates: There are some of the best FD rates in India for NRIs offered by many banks, NBFCs, SFBs or Foreign banks. The rates are subject to market conditions and regulations of the RBI and may vary depending on the banks.
• Stable and Assured Returns: FDs provide a fixed rate of interest throughout the duration of investment; so, NRIs are assured of returns on their investments.
• Flexible Tenure Options: FDs for NRIs typically have different tenures, which can vary between a few months and several years. The NRIs have an option to select the tenure as per their requirements.
• Flexible Currency Options: NRIs can invest in FDs in various currencies like USD, GBP, EUR etc. They have the flexibility of depositing their money in the currency of their choice.
• Repatriation: NRIs can opt between repatriable and non-repatriable FDs. In the case of repatriable FDs the principal amount and interest earned can be transferred freely to the NRI's foreign account, whereas the non-repatriable FDs have limited repatriation options.
• Nomination Facility: NRIs can nominate a person to receive the deposit. This will help ensure that the nominated person receives funds easily.
• Automatic Renewal: Some of the banks offer NRI FD with an auto-renewal feature. Your FD would be renewed automatically for the same period until you instruct the NRI otherwise.

Eligibility Criteria for NRI Fixed Deposits

The following eligibility criteria are applicable for NRIs investing in Fixed Deposits in India:

• Residential status: You must qualify as NRI or OCI in India under the FEMA and RBI guidelines.
• Age: Must be 18 years or older
• Bank accounts: You must hold an NRI bank account such as NRE, NRO or FCNR accounts with an Indian bank.
• KYC documents: A valid passport, proof of overseas address, PAN card, and recent photographs are mandatory for KYC verification for NRI FDs.

How to Open an NRI Fixed Deposit Account?

NRIs are able to open an NRE, NRO or FCNR Fixed Deposit account through online or offline channels. These methods are explained below:

Online Method

Here’s how you can open an NRI FD account online via Internet or Mobile Banking:

• Log in to NRI Banking Portal: Internet/ Mobile Banking login.
• Click on Fixed Deposit Option: Select NRE FD, NRO FD or FCNR FD.
• Fill out the Deposit Details: Deposit amount, tenure and interest payout method.
• View Terms & FD Rates: Visit the interest rates and maturity information of the applicable FDs.
• Confirm & Fund FD: Approve and transfer funds from linked NRI account.
• Digital creation, digital receipt of FD: FD is created and receipt is issued electronically.

Although all major private banks are processing all bookings digitally, some small banks and NBFCs (Shriram Finance) are not 100% digital and still go through the process offline.

Offline Method

The process of opening an NRI FD via the branch or authorised channel is as follows:

• Visit Branch / Office: Visit the bank branches / authorised NRI branches.
• Fill Application Form: Submit the application form for NRE/NRO/FCNR.
• Submit KYC Documents: Passport, Visa / Residence Proof, Pan (if any), Address Proof.
• Click on FD Details: Select tenure and interest payout option.
• Fund Transfer: Transfer money through prescribed avenues for NRI.
• Verification & FD Issuance: Bank verifies the application and issues FD receipt.

How to Choose the Right NRI Fixed Deposit?

When selecting an FD, it is not always about the highest interest rate. The necessity is to balance returns, liquidity, safety and tax impact, based on your financial goal and deposit type.

• Match Tenure With Your Financial Goal: Keep the financial goal in mind, while the short tenure helps you with liquidity requirements, the long tenure will help you achieve a compounded return on investment.
• Know Withdrawal Flexibility: Check whether FD can be called or not. Callable FDs have flexibility; on the other hand, non-callable FDs can provide you with better returns, but you will be locked up.
• NBFC vs Bank stability: Banks’ Fixed Deposits are safe and reliable. Interest rates may be better for NBFC FDs but require due investigation such as checking credit ratings.
• Consider Tax Impact on Returns: Most of the time, the interest on FD is taxable, hence the actual returns are reduced. Never judge by a post-tax rate, but rather by post-tax earnings.
• Consider Interest Payout Structure: Cumulative FDs benefit from compounding, so the returns will be higher, while monthly/quarterly dividends provide consistent income but the overall returns will be lower.
• Check Credit Rating: Before investing in NBFC FD, always check the credit rating of the FD instruments. It is preferable to invest in a high-rated FD instrument (AAA or equivalent) to minimise risk exposure.

Key Takeaways

Fixed deposits are a popular investment option among NRIs seeking stable returns and capital protection. Many Indian banks offer deposit schemes tailored to NRIs, allowing them to earn interest on their savings over a fixed tenure. These can go up to 7.35%, depending on the private or public sector bank. While in case of NBFCs or Small Finance Banks, the rate of interest goes as high as 8.10% p.a.