FCNR Deposit Interest Rate

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FCNR Deposit Interest Rate
FOREIGN CURRENCY NON-RESIDENT DEPOSITS (FCNR(B)) (% P.A.) w.e.f. 10.03.2023
CURRENCY USD GBP EURO CAD AUD JPY
PERIOD OF THE DEPOSIT RATE YIELD* RATE YIELD* RATE YIELD* RATE YIELD* RATE YIELD* RATE YIELD*

1 year

5.25

5.32

4.50

4.56

1.50

1.52

4.30

4.36

3.60

3.65

0.02

0.02

Above 1 year to less than 2 years

5.25

5.54

4.50

4.72

1.50

1.54

4.30

4.51

3.60

3.75

0.02

0.02

2 years to less than 3 years

4.20

4.49

2.35

2.46

1.50

1.55

4.10

4.38

3.50

3.71

0.05

0.05

3 years to less than 4 years

4.05

4.41

2.45

2.60

1.50

1.56

3.85

4.18

3.00

3.21

0.05

0.05

4 years to less than 5 years

4.10

4.57

2.45

2.63

1.50

1.57

3.70

4.09

3.00

3.26

0.05

0.05

5 years

4.15

4.63

2.45

2.63

1.50

1.57

3.60

3.97

3.00

3.26

0.05

0.05
* Annualised yield at the end of the period.

* Rates are subject to change, without prior notice

  • Rates are subject to change, without prior notice.
  • Annualised yield calculated on the maximum period under the respective period bucket.
  • For 1 year’s FCNR (B) deposit, simple Interest is applicable.
  • For FCNR (B) deposit above 1 year, Interest is compounded at half yearly frequency.
Premature withdrawals of FCNR (B) Deposits :
  • No interest is payable, if the deposit is withdrawn before one year.
  • No premature penalty for the deposit withdrawn after completion of one year. However, interest shall be paid at the rate applicable for the period deposit has remained with the Bank.
  • Above interest will be paid at the rate available on the date of deposit.

Last Updated On : Thursday, 09-03-2023

Interest Rates

8.50%* p.a.

w.e.f. 09.03.2023

*T&C Apply.

 

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