Nro Deposits

Bank of India, ICICI Bank, and Axis Bank among others are some of the leading banks offering the best interest rates on NRO deposits with two-year tenure.

NRO deposit rates: These banks offer up to 8.51% interest on two-year deposits

Small finance banks lead with the highest interest rates on NRO deposits, followed by small private banks and foreign banks. The leading public sector banks like the State Bank of India, Bank of Baroda, and others are not competitive in interest rates like other banks.

Mecklai graph of the day: Will NRIs continue to invest?

Mecklai graph of the day: Indians working abroad have pumped in a record $4.753 billion in local bank deposits during April and May. The increase in NRI deposits is noteworthy because there has been a consistent increase in non-resident external (NRE) rupee accounts.

Flows to NRE deposits to rise post RBI move: Federal Bank

Executive director of Federal Bank, PC John, says that they expect flows to NRE deposits to increase post RBI's move to open up interest rates on NRE and NRO deposits.