FCNR Deposit Interest Rate

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FCNR Deposit Interest Rate
FOREIGN CURRENCY NON-RESIDENT DEPOSITS (FCNR(B)) (% P.A.) w.e.f. 10.01.2021
CURRENCYUSDGBPEUROCADAUDJPY
PERIOD OF THE DEPOSITRATEYIELD*RATEYIELD*RATEYIELD*RATEYIELD*RATEYIELD*RATEYIELD*
1 year0.720.730.510.520.010.010.690.700.070.070.020.02
Above 1 year to less than 2 years0.720.730.510.520.010.010.690.700.070.070.020.02
2 years to less than 3 years0.720.740.530.540.010.010.520.530.120.120.050.05
3 years to less than 4 years0.740.760.600.610.010.010.620.640.010.010.050.05
4 years to less than 5 years0.850.880.650.670.100.100.740.760.010.010.050.05
5 years0.950.980.690.710.150.150.850.880.010.010.050.05
* Annualised yield at the end of the period.

Interest Rate on following deposit, value and term for today:

  • FCNR (B) Deposits – 0.82 % p.a. for value USD 0.66 mio and above (term 1 year to less than 2 years)

(This rate is applicable for one day only i.e. 16.01.2021)

* 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  • No interest is payable, if the deposit is withdrawn before one year.
  • No premature penalty for the deposit withdrawn after completion of one year.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.

Interest Rates

6.80%* p.a.

w.e.f. 01.01.2021

*T&C Apply.

 

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