IND Millionaire Recurring Deposit Account – NRE
IND Millionaire Recurring Deposit Account – NRE
Highlights:
- Eligibility: Non-resident individuals of Indian nationality (NRI) or individuals of Indian Origin (PIO)
- Type of deposit: Recurring Deposit in INR with a maturity of one million and in multiples of one million.
- Period: Minimum of one year and maximum of ten years in multiples of one year.
- Maturity amount: Minimum Rs.10.00 lacs and in multiples of Rs.10 lacs (subject to slight change in actual value due to the rounding off of instalments to the next rupee).
- Nomination: Available.
- Rollover option: Maturity amount will be credited to the linked SB /CA Account Number.
- Pre-closure Facility: Allowed.
- Funding: Transfer from NRE SB/CA by registering standing instruction.
- Instalments: Monthly instalments, as per the table below, at the present interest rates for a minimum maturity value of Rs.10.00 lacs and in multiples of 10 lakhs. The instalment will be rounded off to the next rupee (there will be a slight increase in the maturity value due to Rupee rounding off).
- The instalments for IND Millionaire Recurring Deposit Account – NRE:
| RD Term | Maturity Value | Monthly |
| Instalment | ||
| 10 years | 10 Lakhs | Rs.6082.00 |
| 9 years | 10 Lakhs | Rs.6982.00 |
| 8 years | 10 Lakhs | Rs.8112.00 |
| 7 years | 10 Lakhs | Rs.9572.00 |
| 6 years | 10 Lakhs | Rs.11527.00 |
| 5 years | 10 Lakhs | Rs.14273.00 |
| 4 years | 10 Lakhs | Rs.18387.00 |
| 3 years | 10 Lakhs | Rs.25289.00 |
| 2 years | 10 Lakhs | Rs.39077.00 |
| 1 year | 10 Lakhs | Rs.80633.00 |
Please note : The instalments are as per the prevailing interest rates. If Interest rates change, the instalments for RDs opened thereafter will change.
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