FCNR Deposits Features - NRI Products

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Foreign Currency Non Resident Deposit

Invest in a foreign currency account that let’s you deposit up to 6 currencies and protect it from exchange rate risk.

Available in the form of term deposit in USD, EURO, GBP, YEN, AUD and SGD currencies

Auto renewal of FCNR deposits on maturity

Fully and freely repatriable deposit (both principal and Interest)

FCNR deposits can be booked by debiting the NRE account through normal banking channel

Other Features

Interest on FCNR deposits compounded on 180 days
To earn interest on fixed deposit, it needs to be kept for minimum of one year and above up to maximum of 5 years
It can be jointly opened by NRIs/PIOs
The principal amount and the interest earned on FCNR deposit is exempted from Income Tax in India

Frequently Asked Questions

In which currency is my FCNR (B) deposit maintained?

Your FCNR deposit will be maintained in the following currency as specified / choose at the time of booking deposit. These are: USD, GBP, EURO, AUD, SGD and JPY currencies.