Icici Nre Fd Rates Calculator

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ICICI Bank NRE Fixed Deposit Calculator

Calculate maturity value for your Non-Resident External (NRE) deposits

Principal Amount: ₹ 0
Total Interest Earned: ₹ 0
Maturity Value: ₹ 0

How ICICI NRE FD Calculation Works

The ICICI NRE Fixed Deposit interest is typically compounded on a quarterly basis. As per RBI guidelines, NRE deposits must have a minimum tenure of 1 year to earn interest. If the deposit is liquidated before 1 year, no interest is paid.

The formula used for quarterly compounding is:

A = P [1 + (r/n)]^(nt)

  • A: Maturity Amount
  • P: Principal Deposit Amount
  • r: Annual Interest Rate (as decimal)
  • n: Number of times interest compounds per year (4 for quarterly)
  • t: Total tenure in years

Example Calculation

If you invest ₹5,00,000 in an ICICI NRE FD for 2 years at an interest rate of 7% per annum:

  • Principal: ₹5,00,000
  • Tenure: 2 Years
  • Compounding: Quarterly (4 times a year)
  • Maturity Value: Approx. ₹5,74,440
  • Total Interest: Approx. ₹74,440

Benefits of ICICI NRE Fixed Deposits

1. Tax Exemption: The interest earned on NRE Fixed Deposits is completely exempt from Income Tax in India.

2. Full Repatriability: Both the principal and the interest earned are fully and freely repatriable to your country of residence.

3. Flexible Tenure: Choose tenures ranging from 1 year to 10 years based on your financial goals.

4. Joint Holding: You can open an NRE FD jointly with another NRI or with a resident Indian (on a former or survivor basis).

Frequently Asked Questions

What is the minimum tenure for NRE FD?
The minimum tenure required to earn interest on an NRE FD is 1 year.

Is the interest earned on NRE FD taxable?
No, interest earned on NRE accounts is not taxable in India. However, it may be taxable in your country of residence depending on their local laws.

function calculateNREFD() { var principal = parseFloat(document.getElementById('fdPrincipal').value); var rate = parseFloat(document.getElementById('fdRate').value); var years = parseFloat(document.getElementById('fdYears').value) || 0; var months = parseFloat(document.getElementById('fdMonths').value) || 0; if (isNaN(principal) || isNaN(rate) || (years === 0 && months === 0)) { alert("Please enter valid positive values for Principal, Rate, and Tenure."); return; } // Total tenure in years var totalYears = years + (months / 12); // NRE FD Rule: No interest if tenure is less than 1 year if (totalYears < 1) { document.getElementById('fdResultBox').style.display = 'block'; document.getElementById('resPrincipal').innerText = "₹ " + principal.toLocaleString('en-IN'); document.getElementById('resInterest').innerText = "₹ 0 (Min 1 year required)"; document.getElementById('resMaturity').innerText = "₹ " + principal.toLocaleString('en-IN'); return; } // Compounding logic: ICICI Bank NRE FDs usually compound quarterly var n = 4; // Quarterly var r = rate / 100; // Formula: A = P(1 + r/n)^(nt) var maturityValue = principal * Math.pow((1 + (r / n)), (n * totalYears)); var interestEarned = maturityValue – principal; // Display results document.getElementById('fdResultBox').style.display = 'block'; document.getElementById('resPrincipal').innerText = "₹ " + principal.toLocaleString('en-IN', {maximumFractionDigits: 0}); document.getElementById('resInterest').innerText = "₹ " + interestEarned.toLocaleString('en-IN', {maximumFractionDigits: 0}); document.getElementById('resMaturity').innerText = "₹ " + maturityValue.toLocaleString('en-IN', {maximumFractionDigits: 0}); }

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