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NRE Fixed Deposit Account

Earn tax-free interest in India on your income from abroad for a fixed period of time.

Why choose our NRE Fixed Deposit Account?

With our NRE Fixed Deposit Account, you can save your earnings from abroad tax-free[@nri-tax] in India for a time period that you get to choose.

  • Earn tax-free interest at a higher rate than you'd get from a typical savings account
  • Choose a fixed tenure from 1 to 5 years, with the option to auto-renew[@nri-deposit-auto-renewal]
  • No limit on transfers once your deposit matures, as the account balance is fully repatriable
  • Manage your account in app, online, in branch and by phone
  • Get started with as little as INR25,000

The foreign currency you deposit will be converted into Indian rupees at the prevailing exchange rate[@nri-fx-rates].

Interest rates

Here's how much interest you could receive on your savings:
Tenure Board rate (for deposits below INR3 crore)
365 days 4.00%
366 to 399 days 4.00%
400 days 4.25%
401 days to less than 18 months 5.30%
18 months to 599 days 4.30%
600 days 4.30%
601 to 699 days 5.50%
700 days 4.30%
701 to 730 days 4.30%
731 days 4.30%
732 days to less than 36 months 5.35%
36 months to less than 37 months 5.35%
37 months to less than 48 months 5.45%
48 to 60 months 5.50%
Here's how much interest you could receive on your savings:
Tenure 365 days
Board rate (for deposits below INR3 crore) 4.00%
Tenure 366 to 399 days
Board rate (for deposits below INR3 crore) 4.00%
Tenure 400 days
Board rate (for deposits below INR3 crore) 4.25%
Tenure 401 days to less than 18 months
Board rate (for deposits below INR3 crore) 5.30%
Tenure 18 months to 599 days
Board rate (for deposits below INR3 crore) 4.30%
Tenure 600 days
Board rate (for deposits below INR3 crore) 4.30%
Tenure 601 to 699 days
Board rate (for deposits below INR3 crore) 5.50%
Tenure 700 days
Board rate (for deposits below INR3 crore) 4.30%
Tenure 701 to 730 days
Board rate (for deposits below INR3 crore) 4.30%
Tenure 731 days
Board rate (for deposits below INR3 crore) 4.30%
Tenure 732 days to less than 36 months
Board rate (for deposits below INR3 crore) 5.35%
Tenure 36 months to less than 37 months
Board rate (for deposits below INR3 crore) 5.35%
Tenure 37 months to less than 48 months
Board rate (for deposits below INR3 crore) 5.45%
Tenure 48 to 60 months
Board rate (for deposits below INR3 crore) 5.50%

You can choose to receive your interest either when your account matures, or every quarter directly into your HSBC NRE account.

Please note: a tenure of 1 year/12 months is equivalent to 365 days.

Interest rates are subject to change from time to time, and may be made without notice. Any fixed deposit rate changes come into force at 10:00am on the day of rate change. All fixed deposits booked before the system execution time on the day of rate change shall be updated with the applicable rate of interest.

These rates came into effect on 17 July 2025.

Things to know before you apply

Who can apply for an NRE Fixed Deposit Account?

To apply for an NRE Fixed Deposit Account, you must be a non-resident Indian (NRI), a person of Indian origin (POI), an overseas citizen of India (OCI) or a seafarer employed with foreign vessels.

Additional eligibility criteria may apply.

Ready to apply for an NRE Fixed Deposit Account?

Get an immediate callback

Get a callback straight away and your account could be open in just 4 hours from the moment you submit your documents.

Apply via online banking

Already have an NRE savings/current account with us? You can open an NRE Fixed Deposit Account through online banking if you want to deposit less than INR1 crore[@fixed-deposits-below-1crore].

Frequently asked questions

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Notes

    Non-Resident Indian (NRI) accounts and /or deposits are under the Reserve Bank of India programme for Non-Resident Indians and are governed by the rules in effect from time to time relating to such programmes, are subject to the sovereign risk arising from and governed by the laws of, or any changes to the laws of India.

    NRI deposits/ accounts are held with The Hongkong and Shanghai Banking Corporation Limited, India (HSBC India) and are not insured by any insurance company or corporation outside India and are payable only at the branch of the Bank in India where the deposit is made.

    Approved for issue in the UK by HSBC Bank plc. 8 Canada Square, London E14 5HQ. Deposits/investments made with non-UK members of the group do not benefit from the protection provided under the UK Financial Services and Markets Act 2000, including the UK Financial Services Compensation Scheme.

    NR deposits with the Bank in India are not insured by Federal Deposit Insurance Corporation (FDIC) of the USA, nor by any other insurance company or corporation outside India and are payable only at the branch in India where the deposit is made.

    Under current US tax laws, US citizens and residents are subject to tax on their worldwide income. You should consult your tax advisor for the US treatment of income from these deposits.

    NRI accounts and services are offered by The Hongkong and Shanghai Banking Corporation Limited, India (HSBC India). HSBC India is a branch of The Hongkong and Shanghai Banking Corporation Limited. The Hongkong and Shanghai Banking Corporation Limited has a Representative Office in the UAE licenced by the Central Bank of the United Arab Emirates.

    Deposits/accounts held with HSBC India are not protected deposit and are not protected by Deposit Protection Scheme in Hong Kong.

    For Residents within Kingdom of Bahrain, we remind you that deposits made with HSBC India do not benefit from the protection provided under the Deposit Protection Scheme established by the Central Bank of Bahrain regulation concerning the establishment of a Deposit Protection Scheme and a Deposit Protection Board.

    NRI services are provided by HSBC India. HSBC India is the branch of The Hongkong and Shanghai Banking Corporation Limited and HSBC India is not regulated in Canada. NR deposits with the Bank in India are not insured by Canadian Deposit Insurance Corporation (CDIC), nor by any other insurance company or corporation outside India and are payable only at the branch of the Bank in India where the deposit is made. You should consult your tax advisor for the Canada treatment of income from these deposits.

    Deposits and accounts held with HSBC India are not protected by the Australian Financial Claims Scheme.

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