1. NRI
  2. Deposits
  3. Foreign Currency Non-Resident Deposit
FCNR Deposit

FCNR Deposit Account

  • FCNR Deposit allows you to hold your overseas earnings in foreign currency without converting them into Indian Rupees and protect it from exchange rate risk.

Overview of FCNR Deposit

FCNR Deposit allows you to hold your overseas earnings in foreign currency without converting them into Indian Rupees and protect it from exchange rate risk

Features of FCNR Deposit

Currencies

Funds can be maintained as Term Deposit in 6 currencies – USD, GBP, EUR, JPY, CAD and AUD

Repatriable

Funds are fully and freely repatriable (both principal and Interest)

Exempt from Tax

Interest Earned is exempt from tax in India

Compounding

Interest on FCNR deposits is compounded on 180 days

Tenure

The deposit can be opened for tenures ranging from a minimum of 1year upto a maximum of 5 years.

Rates

To earn interest on FCNR deposit, it needs to be kept for a minimum of one year

FCNR Deposit Interest Rates

For interest rates please click here

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