FCNR Deposit Interest Rate

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FCNR Deposit Interest Rate
FOREIGN CURRENCY NON-RESIDENT DEPOSITS (FCNR(B)) (% P.A.) w.e.f. 10.09.2020
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 0.75 0.76 0.59 0.60 0.01 0.01 0.78 0.79 0.17 0.17 0.02 0.02
Above 1 year to less than 2 years 0.75 0.76 0.59 0.60 0.01 0.01 0.78 0.80 0.17 0.17 0.02 0.02
2 years to less than 3 years 0.74 0.76 0.61 0.62 0.01 0.01 0.56 0.57 0.17 0.17 0.05 0.05
3 years to less than 4 years 0.76 0.78 0.64 0.66 0.01 0.01 0.63 0.65 0.21 0.21 0.05 0.05
4 years to less than 5 years 0.79 0.82 0.69 0.71 0.10 0.10 0.72 0.74 0.32 0.33 0.05 0.05
5 years 0.86 0.89 0.73 0.75 0.15 0.15 0.79 0.82 0.41 0.42 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  • No interest is payable, if the deposit is withdrawn before one year.
  • No premature penalty for the deposit withdrawn after completion of one year.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.

Interest Rates

6.95% p.a.

w.e.f. 01.07.2020

*T&C Apply.

 

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