NRI Deposit Accounts

Term Deposits.

Guaranteed Safety. Regular Growth.

NRI Fixed Deposit & NRI Term Deposit

Whether you are saving for the short term or the long term, you can earn higher rates of interest with Term Deposits from Citibank. With options to earn simple or compounding interest and multiple tenures to choose from, Term Deposits are a great way to save for your future needs.

Check Rates Apply Now

Why Citi? Non-Resident External Deposit (NRE) Non-Resident Ordinary Deposit (NRO) Foreign Currency Non-Resident (FCNR)
Funds Transfer
  • From outside India.

  • From within India
    • Only from an FCNR/NRE account.
    • Current Income subject to submission of requisite documentation.
  • From outside India.

  • From within India
    • From FCNR/ NRE or NRO account.
    • From Indian income sources.
  • From within India(Only from NRE/FCNR account)

  • From outside India
Interest Option Option to choose between Simple Interest and compound interest. Simple interest is accrued monthly and paid quarterly to Rupee Checking Account. Compound Interest is accrued every 90 days and paid at maturity. Calculated on daily balances and paid quarterly Option to choose between Simple Interest and compound interest. Simple interest is accrued monthly and paid quarterly to Rupee Checking Account. Compound Interest is accrued every 90 days and paid at maturity. Calculated on daily balances and paid quarterly Interest is compounded every 180 days and paid upon maturity
Automatic Rollover Automatic Roll over option available for convenience Automatic Roll over option available for convenience Automatic Roll over option available for convenience
Tenure Minimum 365 days (1 year)
Maximum 1825 days (5 years)
Minimum 7 days
Maximum 1825 days (5 years)
Minimum 365 days (1 year)
Maximum 1825 days (5 years)
Minimum Deposit Amount INR 80,000 INR 80,000 USD 2000 or equivalent
Who can open an account NRIs and PIOs NRIs and PIOs NRIs and PIOs
Who can be a joint holder May be held jointly in the names of two or more NRIs/ PIOs or with a resident relative on 'former or survivor' basis as Power of Attorney holder. May be held jointly in the names of two or more NRIs/ PIOs or with a resident relative on 'former or survivor' basis as Power of Attorney holder. May be held jointly in the names of two or more NRIs/ PIOs or with a resident relative on 'former or survivor' basis as Power of Attorney holder.
Currency Indian Rupees(INR) Indian Rupees(INR) US Dollar, British Pound, Euro, Japanese Yen, Australian Dollar, Canadian Dollar
Taxation
  • Interest earned is exempt from income tax in India.

  • However, interest earned may be subject to tax in your country of residence. Please speak with your tax consultant for additional information.
  • Interest earned is subject to TDS in India.

  • Interest earned may be subject to tax in your country of residence. Please speak with your tax consultant for additional information.
  • Interest earned is exempt from income tax in India.

  • However, interest earned may be subject to tax in your country of residence. Please speak with your tax consultant for additional information.
Repatriation Principal and interest are fully repatriable RBI allows repatriation only for current income up to USD 1 (one) million per financial year (April-March), for any bonafide purpose after payment of applicable taxes. Principal and interest are fully repatriable

Please Note:

  • If you wish to open a new Citibank Term Deposit, you will also be required to open a Citibank NRI Savings Account. This is required to facilitate interest payout, mandate holders, and funding of the account.
  • In case of pre-termination, the interest earned on a Term Deposit is calculated differently. Click here for an illustration
  • Disclaimers: Citibank India does not market any product or service to individuals resident in the European Union, European Economic Area, Switzerland, Guernsey, Jersey, Monaco, San Marino, Vatican, and The Isle of Man. This webpage is not, and should not be construed as, an offer, invitation or solicitation to buy or sell any of the products and services mentioned herein to individuals resident in the European Union, European Economic Area, Switzerland, Guernsey, Jersey, Monaco, San Marino, Vatican, and The Isle of Man.