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Foreign Currency Non Resident (FCNR) Deposits

Your foreign currency savings can earn attractive returns in India. With the Foreign Currency Non Resident(FCNR) Deposits, you can do so without converting your savings into Indian rupees.
  • Key Facts

    Features

    • Foreign Currency Non Resident(FCNR) Deposits can be maintained in GBP, EUR and USD
    • Open a deposit with as low as GBP 15,000 / EUR 17,000 / USD 25,000
    • Interest income is not taxed in India
    • Minimum period 1 year and maximum period 5 years
    • Principal and interest amounts are fully repatriable

    To apply now:

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  • Interest Rates

    Interest rates on Foreign Currency Non Resident(FCNR) Deposits

    Term Deposits Interest Rate - Applicable for FCNR deposits w.e.f. 08.07.2015 (rate % p.a.)

    Currency

    Period

    USD

    Rate

    GBP

    Rate

    EURO

    Rate

    > = 12 months < 24 months

    0.2

    0.4

    0.1

    > = 24 months < 36 months

    0.4

    0.45

    0.1

    > = 36 months < 48 months

    0.4

    0.5

    0.1

    > = 48 months < 60 months

    0.4

    0.5

    0.1

    60 months

    0.4

    0.5

    0.1