FCNR Deposit Interest Rate

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FCNR Deposit Interest Rate
FOREIGN CURRENCY NON-RESIDENT DEPOSITS (FCNR(B)) (% P.A.) w.e.f. 20.10.2022
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 4.25 4.31 3.70 3.75 0.50 0.51 3.50 3.55 2.60 2.64 0.02 0.02
Above 1 year to less than  2 years 4.25 4.45 3.70 3.86 0.50 0.51 3.50 3.64 2.60 2.69 0.02 0.02
2 years to less than 3 years 3.45 3.66 2.35 2.46 0.50 0.51 3.00 3.16 2.75 2.89 0.05 0.05
3 years to less than 4 years 3.70 4.01 2.45 2.60 0.50 0.51 3.15 3.38 3.00 3.21 0.05 0.05
4 years to less than 5 years 3.80 4.21 2.45 2.63 0.50 0.51 3.20 3.49 3.20 3.49 0.05 0.05
5 years 3.90 4.33 2.45 2.63 0.50 0.51 3.25 3.55 3.45 3.79 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  • No interest is payable, if the deposit is withdrawn before one year.
  • No premature penalty for the deposit withdrawn after completion of one year.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 : Wednesday, 19-10-2022

Interest Rates

8.40%* p.a.

w.e.f. 04.10.2022

*T&C Apply.

 

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