Foreign Currency Non-Resident (FCNR - B) Fixed Deposit​

Foreign Currency Non-Resident (FCNR - B) Fixed Deposit​

Open deposit in foreign currency Available in USD-GBP-Euro Tax-free interest
Park your overseas earnings in foreign currency, exempt from Indian income tax
  • Ideal for NRIs who wish to hold deposits in foreign currency, viz., US Dollars (USD), Pound Sterling (GBP) and Euro (EUR)

  • Principal amount and interest earned are fully and freely repatriable 

  • Interest earned is exempt from Indian income tax 

  • Term – 1 year to 5 years 

  • Automatic renewal of your principal and interest facility available on maturity 

  • Nomination facility available 

  • Minimum deposit USD 1,000; GBP 1,000; EUR 1,000​ 

  • View the complete and updated list of interest rates and charges 
    Rates are subject to change and depend on the London Inter-Bank Offered Rate (LIBOR) 
  • Our existing NRI Savings Accounts holder 

An Indian citizen residing outside India for any of the below purposes: 

  • Employment  

  • Studies  

  • Business or vocation 

  • Individual posted in UN organisation or official deputed abroad by Government of India or public sector undertakings 

  • Indian nationals who may be mariners or working on oil rigs or foreign registered airlines 
     

PIO (Person of Indian Origin)/OCI (Overseas Citizen of India) 

An individual holding a foreign passport (other than Pakistani and Bangladeshi) fulfilling any of the below criteria: 

  • Has held an Indian passport at any point of time 

  • Individual’s parent or grandparent was Citizen of India by virtue of the Constitution of India or India Citizen Act 1955 

  • Is a spouse of an Indian Citizen or spouse of PIO 

Please contact branch for further details 

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Enjoy attractive returns on your overseas income or earnings in India

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