Eligibility NRIs – Individuals in Single or Joint capacity.
Deposit Amount Minimum-Rs. 10000/- ; Maximum: no limit.
Period of Deposit Minimum one year and maximum 10 years.
Rate of Interest The rate of interest shall be Card Rate payable on NRE term deposits for different maturities in accordance with the circulars issued by the Bank from time to time.
Premature/ Part Withdrawal If any depositor desires to withdraw a part of the deposit before maturity, Bank will repay the deposit. The deposit so withdrawn will earn interest as ruling on the date of deposit and as applicable for the period, it has already run. Further, if the part-amount desired to be withdrawn did not run for the minimum stipulated maturity slab (viz. one year, at present), under the NRE Term Deposit, no interest will be paid on the withdrawn amount.
No penalty shall be levied for part / full withdrawal of the deposit before maturity on the similar lines of Domestic Sugam Deposit Product. The remaining amount of deposit will continue to fetch the rate of interest contracted / stipulated at the time of acceptance of the same.
Withdrawable Amount The depositor may withdraw any amount before maturity in multiples of Rs. 1,000/- any time according to his convenience without breaking the entire deposit and also without losing interest on remaining part of Fixed Deposit under the Scheme. However, residual amount should not go below Rs. 10,000/- after part withdrawal similar to our domestic Sugam TD. At the time of withdrawal of desired amount before maturity any time, the amount should be credited to the NRE/NRO account of the depositor.
Renewal of Term deposit The remaining amount of deposit will be renewed as per customer’s request, on the due date. The facility of auto renewal as per depositor’s mandate is available in the scheme.
Compounding of Interest The deposits will earn interest with quarterly rests, as per prevailing RBI Directives, which are subject to change from time to time.
Payment of Interest Income Option:
The depositor has the option to draw interest on Monthly/Quarterly basis. However the interest will only be credited in the NRE/NRO saving account. In case the deposit is withdrawn before one year, the interest paid will be recovered from the principal as no interest is payable in such cases.
Reinvestment/ Maturity Option:
The Interest calculated as per quarterly compounding may be credited to the depositor’s Term Deposit account as on the end of each calendar quarter if the deposit remained with the Bank for one year and above.

* Other terms and conditions as per general guidelines

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