FCNR Deposit Interest Rate

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FCNR Deposit Interest Rate
FOREIGN CURRENCY NON-RESIDENT DEPOSITS (FCNR(B)) (% P.A.) w.e.f. 10.05.2020
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 0.91 0.92 0.88 0.89 0.01 0.01 0.90 0.91 0.18 0.18 0.02 0.02
Above 1 year to less than 2 years 0.91 0.93 0.88 0.90 0.01 0.01 0.90 0.92 0.18 0.18 0.02 0.02
2 years to less than 3 years 0.83 0.85 0.94 0.96 0.01 0.01 0.61 0.62 0.24 0.24 0.05 0.05
3 years to less than 4 years 0.84 0.86 0.94 0.97 0.01 0.01 0.67 0.69 0.30 0.31 0.05 0.05
4 years to less than 5 years 0.87 0.90 0.95 0.98 0.10 0.10 0.75 0.77 0.43 0.44 0.05 0.05
5 years 0.91 0.94 0.96 0.99 0.15 0.15 0.80 0.83 0.52 0.53 0.05 0.05
  • 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  • No interest is payable, if the deposit is withdrawn before one year.
  • No premature penalty for the deposit withdrawn after completion of one year.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

7.35% p.a.

w.e.f. 01.05.2020

*T&C Apply.

 

 

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