FCNR Deposit Interest Rate

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FCNR Deposit Interest Rate
FOREIGN CURRENCY NON-RESIDENT DEPOSITS (FCNR(B)) (% P.A.) w.e.f. 10.05.2022
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 1.50 1.52 1.75 1.77 0.01 0.01 1.07 1.08 0.45 0.46 0.02 0.02
Above 1 year to less than  2 years 1.50 1.54 1.75 1.80 0.01 0.01 1.07 1.09 0.45 0.46 0.02 0.02
2 years to less than 3 years 1.65 1.71 2.10 2.19 0.01 0.01 2.37 2.48 0.95 0.97 0.05 0.05
3 years to less than 4 years 1.90 1.99 2.20 2.32 0.01 0.01 2.62 2.78 1.30 1.35 0.05 0.05
4 years to less than 5 years 2.00 2.12 2.20 2.35 0.10 0.10 2.67 2.88 1.55 1.63 0.05 0.05
5 years 2.10 2.23 2.20 2.35 0.15 0.15 2.67 2.88 1.70 1.79 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  • No interest is payable, if the deposit is withdrawn before one year.
  • No premature penalty for the deposit withdrawn after completion of one year.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 : Tuesday, 10-05-2022

Interest Rates

6.65%* p.a.

w.e.f. 01.04.2022

*T&C Apply.

 

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