Union bank of India NRE FD Rates

Note: Interest rates as of 20 March 2026

Investing Made Easy with Bonds

 Interest paid monthly/quarterly

 Invest as low as ₹1,000

Invest Now

Earn Up to

13.25%

Exclusively on Bonds

Union Bank of India NRE FD Rates

Union Bank of India FD Interest Rates of NRE Deposits of less than Rs 3 crore w.e.f. 11th February 2026

Book FDs at Interest rate upto 8.00% p.a

 Manage all FDs in one place

 No Bank A/C Required

Invest Now   

Features and Benefits of Union Bank of India NRE FD

Some of the features and benefits of Union Bank NRE FD are given below: 

• Minimum Deposit Amount: Rs. 10,000.
• Tenure: 1 year to 10 years.
• Premature Withdrawal: Allowed, subject to applicable terms and penalties.
• Tax Exemption: Interest earned on NRE FDs is tax-free in India.
• Repatriability: Both the principal and interest are fully repatriable.
• Joint Account Facility: You can open an NRE FD jointly with another NRI.
• Nomination Facility: Nomination facility is available.
• Auto-Renewal Facility: The FD can be automatically renewed on maturity.

Types of Union Bank of India NRE FD

NRE DRIC

The NRE DRIC is a reinvestment scheme specially designed for NRI customers to earn compounded interest.

• Minimum Deposit Amount: Rs. 1,000

• Tenure: 1 year to 10 years

• Nomination Facility: Available

• Tax-Free Returns: Interest earned is tax-free in India

• Auto-Renewal Facility: Available

• Joint Account Option: Can be opened jointly with another NRI

• Repatriation of Funds: Both principal and interest are fully repatriable

• Premature Withdrawal: Allowed, subject to terms and conditions and applicable penalty

NRE Monthly Income Scheme

The NRE Monthly Income Scheme offers a regular monthly income on your deposit amount.

• Minimum Deposit Amount: Rs. 1,000

• Tenure: 1 year to 10 years

• Tax Exemption: Earn tax-free interest income in India

• Joint Holding: Can be opened jointly with another NRI

• Nomination & Auto-Renewal Facility: Available

• Premature Withdrawal: Allowed, subject to terms and conditions and applicable penalty

Eligibility Criteria for Union Bank of India NRE FD 

To open a Union Bank of India NRE Fixed Deposit (FD), applicants must meet the following eligibility criteria:

• The depositor should be a Non-Resident Indian (NRI) as per the guidelines of the Reserve Bank of India (RBI).
• They should have a valid passport along with supporting documents such as a visa, OCI (Overseas Citizen of India) or PIO (Person of Indian Origin) card, as applicable.

Documents Required for Union Bank of India NRE FD

The following documents are required to open an NRE FD account with the bank:

• A duly filled application form
• A copy of your valid Passport and Visa/ OCI /PIO, etc.
• As per RBI guidelines, proof of the depositor’s NRI status
• Passport-sized photographs

Note: For verification purposes the bank may ask for additional documents.

Premature Withdrawal of Union Bank of India NRE FD

Union Bank of India allows depositors to withdraw their NRE FD before the maturity date, subject to certain conditions.

• Withdrawal before 1 year: If the deposit is withdrawn before completing 1 year, no interest will be paid.
• Withdrawal after 1 year: If the FD is withdrawn after completing 1 year, interest will be paid at the applicable rate for the actual period (run period), along with a penalty of 1%.

FAQs

What is the minimum amount required to open a Union Bank NRE FD?

You can open a Union Bank NRE FD with a minimum deposit of Rs. 10,000 or its equivalent in foreign currency.

Can I withdraw funds from my NRE FD before the maturity date?

Yes, premature withdrawal is allowed in Union Bank NRE FDs. However, it is subject to certain terms and conditions and the bank may not pay interest or may levy a penalty, depending on the tenure of the deposit.

Can I open a joint NRE Fixed Deposit account with another NRI?

Yes, you can open a joint NRE Fixed Deposit account with another NRI in Union Bank of India.