IDFC FIRST Bank NRE FD Scheme

What is an IDFC FIRST Bank NRE FD Scheme?

The IDFC First Bank NRE FD Scheme provides Non-residents Indians (NRIs) and Persons of Indian origin (PIOs) to transfer their funds in this fixed deposit scheme in India. One can avail of assured returns from the NRE scheme to stimulate savings. Before investing, one should know that the amount invested is denominated in Indian Rupees.

The IDFC First Bank is one of the leading banks operating in India and overseas. It offers a myriad of financial and investment products to cater to the varying needs of the customer base. The bank is spearheading the tech-enabled services that have revolutionised the sector.

Eligibility Criteria for the IDFC First Bank NRE FD

The following individuals are eligible to apply for this investment avenue.

• Non-Resident Indians (NRIs)
• Persons of Indian Origin (PIOs)

Non-Resident Indians

The NRIs are Indian citizens who live outside India due to the following reasons:

• Employment or business
• Deputed officials and public sector employees from the government of India
• Citizens based overseas for an extended period

Person of Indian Origin

People of Indian origin are individuals who:

• Maintain or holds an Indian Passport
• Are descendants of Indian Citizens
• PIO/Indian citizen’s spouses

Documents Required for the IDFC First Bank FD Scheme

The NRIs/PIOs are required to produce the following documents to establish an IDFC First Bank NRE FD:

• Name
• Address
• Date of Issue
• Date of Birth
• The expiration date of the passport
• Applicant’s VISA photocopy
• Photocopy of PIO’s Card (For PIOs only)

Key Attractions of the IDFC First Bank NRE FD

The IDFC First NRE FD offers the following features to depositors in the investment product.

• The fixed deposits are repatriable in nature.
• The institution offers a flexible loan tenure of between one and ten years.
• Depositors can avail of an automatic deposit renewal for the same tenure.

Features & Benefits of the IDFC First Bank NRE FD

The IDFC First Bank NRE FD offers its depositors outside India the following features and benefits.

• The interest earned from the IDFC First Bank FD is tax-exempted.
• The depositor can opt for a simple or compound interest payout beforehand.

• The bank has established a tech-enabled process where one can conveniently apply without hassle.

How to Apply for IDFC FIRST Bank NRE FD

The applicant who is inclined to invest in the IDFC First Bank NRE FD can do so by implementing the following steps:

STEP 1: Visit the official website of IDFC First Bank.

STEP 2: Navigate to the NRE FD service page to find all the information regarding the investment scheme.

STEP 3: Click on the Book Now button featured on the page.

STEP 4: The user is then redirected to a new page where they should provide all the necessary details, such as phone number, to initiate the application process with the bank.

Download IDFC FIRST Bank NRE FD Application Form

The investor can review the following link to find the IDFC First Bank NRE FD form:

https://www.idfcfirstbank.com/content/dam/idfcfirstbank/pdf/account-opening/IDFC-NRI-Fixed-Deposit-Recurring-Deposit-Application-Form-V5.pdf