What is an HDFC Bank NRE Account?

An HDFC Bank NRE Account is a special savings account for Non-Resident Indians (NRIs) to deposit their foreign earnings in Indian Rupees.

Who can open an NRE Account?

Non-Resident Indians (NRIs) and Persons of Indian Origin (PIOs) can open an NRE Account at HDFC Bank.

What are the minimum balance requirements?

You need to maintain a minimum balance of ₹10,000 in Metro/Urban branches and ₹5,000 in Semi-Urban/Rural branches.

Is the interest earned on an NRE Account taxable?

No, the interest earned on an NRE Account is tax-free in India, making it a good option for saving.

Can I withdraw money from my NRE Account in foreign currency?

No, you can only withdraw money in Indian Rupees from your NRE Account.

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Disclaimer: # The investment risk in the portfolio is borne by the policyholder. Life insurance is available in this product. The maturity amount of Rs 1 Cr. is for a 30 year old healthy individual investing Rs 10,000/- per month for 30 years, with assumed rates of returns @ 8% p.a. that is not guaranteed and is not the upper or lower limits as the value of your policy depends on a number of factors including future investment performance. In Unit Linked Insurance Plans, the investment risk in the investment portfolio is borne by the policyholder and the returns are not guaranteed. Maturity Value: ₹1,05,02,174 @ CAGR 8%; ₹50,45,591 @ CAGR 4%. All plans listed here are of insurance companies’ funds.

HDFC Bank NRE Account

The HDFC Bank NRE (Non-Resident External) Account is designed for NRIs to manage their income earned outside India. It allows hassle-free fund transfers, tax-free interest earnings in India, and easy repatriation of funds. This account helps NRIs manage finances seamlessly while staying connected to India.

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What is HDFC Bank NRE Account?

HDFC Bank NRE (Non-Resident External) Account is designed for NRIs (Non-Resident Indians) to manage their income earned abroad. It allows you to deposit foreign earnings in Indian Rupees, making it easier to transfer funds to India. The account is fully repatriable, meaning both the principal and interest can be sent back abroad. It offers tax-free interest in India and is available as a savings, current, or fixed deposit account.

Types of HDFC Bank NRE Account

HDFC Bank NRE Accounts with their key features are listed below:

HDFC Bank NRE Savings Account

An NRE Savings Account is specifically for Non-Resident Indians (NRIs) to manage their foreign income in Indian Rupees. It provides tax benefits and easy access to funds.
- Higher Interest Rates: Earn competitive interest rates on your savings.
- Zero Tax on Interest: Interest earned is exempt from Indian income tax.
- International Debit Card: Withdraw cash and shop globally with ease.
- Mandate Holder Option: Appoint a resident Indian to operate your account on your behalf.
- 24/7 Online Banking: Manage your account anytime through HDFC's NetBanking.
HDFC Bank NRE Current Account

The NRE Current Account is designed for NRIs to facilitate their business transactions and daily expenses in India. It allows easy fund management without earning interest. The HDFC Bank NRE Current Accounts are non-interest-bearing.
- Repatriable Funds: Transfer money abroad without restrictions.
- International Debit Card: Access funds and make payments globally.
- Convenient Fund Transfers: Remit funds to India easily using various methods.
- Personalized Cheque Book: Receive a customized cheque book for transactions.
- Online Banking Access: Operate your account anytime with NetBanking services.
HDFC Bank NRE Fixed Deposit Account

The NRE Fixed Deposit Account allows NRIs to invest their foreign earnings for a fixed period at attractive interest rates, ensuring capital safety and growth.
- Attractive Interest Rates: Enjoy higher returns compared to regular savings accounts.
- Tax-Free Earnings: Interest earned is not subject to Indian income tax.
- Flexible Tenure Choices: Choose from various terms ranging from 1 year to 5 years.
- Repatriable Funds: Both principal and interest can be transferred abroad.
- Loan Against Deposit Option: Access loans against your fixed deposit amount.

HDFC Bank NRE Savings Account Interest Rates

The interest rates offered by HDFC Bank NRE savings account are as follows:

Account Type	Interest Rate	Minimum Balance
NRE Savings Account	- Less than ₹50 lakh: 3.00%; - ₹50 lakh and above: 3.50%	- ₹10,000 (Urban/Metro branches) - ₹5,000 (Semi-Urban/Rural branches)

*Interest is calculated daily and paid quarterly.

HDFC Bank NRE Term Deposit Account Interest Rates

The HDFC Bank offers the following interest rates for NRE Fixed Deposit Accounts:

Tenure	Interest Rate (per annum)
1 year to < 15 months	6.60%
15 months to < 18 months	7.10%
18 months to < 21 months	7.25%
21 months to 2 years	7.00%
2 years 1 day to < 2 years 11 months	7.00%
2 years 11 months (35 months)	7.35%
2 years 11 months 1 day to ≤ 3 years	7.00%
3 years 1 day to < 4 years 7 months	7.00%
4 years 7 months (55 months)	7.40%
4 years 7 months 1 day to ≤ 5 years	7.00%
5 years 1 day to 10 years	7.00%

*Interest rates as of December 2024.

Eligibility Criteria to Apply for HDFC Bank NRE Account

Nationality Status: Non-Resident Indians (NRIs) and Persons of Indian Origin (PIOs) are eligible to open an NRE account.
Residency Requirement: Must be living outside India for more than 182 days in a financial year.
Age Requirement: Applicants must be at least 18 years old.

Documents Required to Apply for HDFC Bank NRE Account

The following documents must be submitted while applying for the HDFC Bank NRE Account in India:

Application Form
Recent passport-sized photo
Identity Proof (Valid Indian or Foreign Passport copy, Permanent Account Number (PAN) card or Form 60)
NRI Status Proof (Valid visa, work permit, or Overseas Citizen of India (OCI) card)
Address Proof

NOTE: All documents must be self-attested and may need to be attested by authorized officials if applying from abroad.

Benefits of Opening an HDFC Bank NRE Account

The key benefits of opening an HDFC Bank NRE Account are as follows:

Tax-Free Earnings: Interest earned on the account is fully exempt from income tax in India.
Easy Repatriation: Funds, including principal and interest, can be repatriated to your home country without restrictions.
Multiple Currency Deposits: Deposit earnings in foreign currency and hold them in Indian Rupees.
Attractive Interest Rates: Competitive interest rates to maximize your savings.
Convenient Banking Access: Manage your account online, through mobile banking, or at HDFC Bank branches.
Free International Debit Card: Get a debit card for seamless transactions worldwide.
Bill Payments & Transfers: Easily pay bills in India or transfer funds to Indian accounts.
Joint Accounts: Open joint accounts with eligible NRIs or close family members.
Loans Against Deposits: Avail loans in India against your NRE fixed deposits.

Conclusion

The HDFC Bank NRE Account offers a convenient way for NRIs to manage their international earnings while enjoying tax-free interest and easy fund repatriation. It’s a reliable solution to stay financially connected with India.

FAQs

What is an HDFC Bank NRE Account?

An HDFC Bank NRE Account is a special savings account for Non-Resident Indians (NRIs) to deposit their foreign earnings in Indian Rupees.
Who can open an NRE Account?

Non-Resident Indians (NRIs) and Persons of Indian Origin (PIOs) can open an NRE Account at HDFC Bank.
What are the minimum balance requirements?

You need to maintain a minimum balance of ₹10,000 in Metro/Urban branches and ₹5,000 in Semi-Urban/Rural branches.
Is the interest earned on an NRE Account taxable?

No, the interest earned on an NRE Account is tax-free in India, making it a good option for saving.
Can I withdraw money from my NRE Account in foreign currency?

No, you can only withdraw money in Indian Rupees from your NRE Account.

†Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by any insurer. This list of plans listed here comprise of insurance products offered by all the insurance partners of Policybazaar. The sorting is based on past 10 years’ fund performance (Fund Data Source: Value Research). For a complete list of insurers in India refer to the Insurance Regulatory and Development Authority of India website, www.irdai.gov.in
*Past 10 Year annualised returns as on 01-01-2025
*All savings plans are provided by the insurer as per the IRDAI approved insurance plan. Tax benefit is subject to changes in tax laws. Standard T&C Apply
^The tax benefits under Section 80C allow a deduction of up to ₹1.5 lakhs from the taxable income per year and 10(10D) tax benefits are for investments made up to ₹2.5 Lakhs/ year for policies bought after 1 Feb 2021. Tax benefits and savings are subject to changes in tax laws.
#The investment risk in the portfolio is borne by the policyholder. Life insurance is available in this product. The maturity amount of Rs 2 Cr. is for a 30 year old healthy individual investing Rs 18,000/- per month for 30 years, with assumed rates of returns @ 8% p.a. that is not guaranteed and is not the upper or lower limits as the value of your policy depends on a number of factors including future investment performance. In Unit Linked Insurance Plans, the investment risk in the investment portfolio is borne by the policyholder and the returns are not guaranteed. Maturity Value: 1,06,79,507 @ CAGR 4%; 2,12,15,817 @ CAGR 8%. All plans listed here are of insurance companies’ funds. *Tax benefits and savings are subject to changes in tax laws. All plans listed here are of insurance companies’ funds.
¶Long-term capital gains (LTCG) tax (12.5%) is exempted on annual premiums up to 2.5 lacs.
**Returns are based on past 10 years' fund performance data (Fund Data Source: Value Research).