FCNR Deposit Interest Rates 2026 - Latest Rates for All Currencies
FCNR deposit interest rates in India vary by bank, currency and tenure, and this page lists the latest FCNR(B) rates of eight banks. An FCNR(B) account is a foreign currency fixed deposit held by Non-Resident Indians (NRIs), with principal and interest fully repatriable under FEMA, 1999. The interest is tax-exempt in India for eligible account holders.
FCNRs are a great option for NRIs because the interest earned on these are exempt from tax in India. Also, FCNRs in India offer a much higher rate of interest when compared to other countries.
Top Interest Rates on FCNR Accounts
- FCNR(B) deposits are accepted for a minimum of one year and a maximum of five years.
- No interest is paid on an FCNR(B) deposit that is withdrawn before it completes one year.
- An FCNR(B) deposit can be held jointly by two or more NRIs or Persons of Indian Origin (PIOs).
Below is the list of banks that provide the best interest rates on FCNR Accounts:
South Indian Bank FCNR Rates
South Indian Bank covers most NRI needs, FCNR included. Withdraw early and you won't pay a penalty. Its best USD FCNR rate is 5.00% p.a.
South Indian Bank offers various NRI services including FCNR accounts. In the case of premature withdrawal, there is no need to pay a penalty.
Tenure (p.a.) | USD Up to and including Rs.5 lakh | USD Above Rs.5 lakh | GBP | EUR | AUD | CHF | JPY | CAD |
1 Year to less than 2 Years | 4.10% | 5.00% | 4.00% | 3.00% | 4.20% | 0.05% | 0.20% | 3.50% |
2 Years to less than 3 Years | 4.25% | 4.25% | 3.75% | 2.00% | 3.50% | 0.00% | 0.20% | 3.50% |
3 Years to less than 4 Years | 4.00% | 4.00% | 2.45% | 1.00% | 3.00% | 0.00% | 0.05% | 3.15% |
4 Years to less than 5 Years | 3.75% | 3.75% | 2.45% | 1.00% | 3.20% | NA | 0.05% | 3.20% |
5 Years | 3.90% | 3.90% | 2.45% | 1.00% | 3.45% | NA | 0.05% | 3.25% |
Note: South Indian Bank FCNR interest rates are effective from 16 October 2026.
Maharashtra Bank FCNR Rates
Bank of Maharashtra provides competitive interest rates on FCNR deposits. They offer deposits in a wide range of currencies such as US Dollar, British Pound, Euro, Australian Dollar, and Canadian Dollar. The minimum period for a deposit is 12 months.
Maturity period/Currency (p.a.) | USD | GBP | EUR | AUD | CAD |
12-15-18-21 months | 5.20% | 3.65% | 1.50% | 1.25% | 1.04% |
24-27-30-33 months | 3.10% | 2.20% | 0.01% | 1.45% | 2.10% |
36-39-42-45 months | 3.10% | 2.30% | 0.01% | 1.80% | 2.32% |
48-51-54-57 months | 3.00% | 2.30% | 0.10% | 1.85% | 2.38% |
60 months | 3.00% | 2.30% | 0.15% | 2.00% | 2.39% |
Note: Maharashtra Bank FCNR interest rates are effective from 1 September 2026.
Indian Overseas Bank FCNR Rates
Indian Overseas Bank offers good interest rates on FCNR accounts and they also deal in a wide range of currencies. They deal in an extensive range of currencies. All deposits can be made for a tenure ranging from 1 to 5 years.
Maturity period/Currency (p.a.) | USD | GBP | EUR | JPY | CAD | AUD | CHF | NZD | SGD |
One Year & above but less than Two Years | 5.00% for 1 year and 4.50% for above 1 year to less than 2 years | 4.50% | 2.50% | 0.03% | 0.50% | 0.70% | 0.00% | 1.00% | 0.42% |
Two Years & above but less than Three Years | 3.20% | 2.10% | 0.15% | 0.05% | 1.60% | 1.00% | 0.00% | 1.20% | 0.89% |
Three Years & above but less than Four Years | 3.15% | 2.15% | 0.15% | 0.05% | 1.80% | 1.25% | 0.02% | 1.40% | 1.09% |
Four Years & above but less than Five Years | 3.15% | 2.20% | 0.15% | 0.05% | 1.90% | 1.55% | 0.02% | 1.50% | 1.23% |
Five Years Only | 3.15% | 2.25% | 0.15% | 0.05% | 1.95% | 1.85% | 0.02% | 1.60% | 1.39% |
Note: Indian Overseas Bank FCNR interest rates are effective from 15 June 2026.
Tamilnad Mercantile Bank FCNR Rates
Tamilnad Mercantile Bank provides a competitive interest rate on all currency FCNR deposits. At present, they are offering a rate of 5.25% p.a. on 1-year deposits in US dollars, the highest compared to other currency interests on FCNRs.
Tenure (p.a.) | USD Below Rs.1 lakh | USD Above Rs.1 lakh | GBP | EUR | JPY | CAD |
1 Year to less than 2 Years | 5.10% | 5.25% | 3.80 | 2.50 | 0.50 | 4.00% |
2 Year to less than 3 Years | 4.00% | 4.15% | 3.80 | 2.25% | 0.50 | 3.75% |
3 Year to less than 4 Years | 3.90% | 3.90% | 3.75 | 2.00% | 0.50 | 3.75% |
4 Year to less than 5 Years | 3.60% | 3.60% | 3.50% | 2.00% | 0.50 | 3.50% |
5 Years | 3.50% | 3.50% | 3.25% | 1.75% | 0.50 | 3.50% |
Note: Tamilnad Mercantile Bank FCNR interest rates are effective from 7 September 2026.
Yes Bank FCNR Rates
Yes Bank provides a wide range of financial services that cater to NRIs. Their highest rate of interest is 4.50% p.a. on FCNRs in US dollars for a tenure that ranges from 1 year to less than 2 years.
Tenure (p.a.) | HKD | SGD | AUD | CAD | JPY | EURO | GBP | USD |
1 year to less than 2 years | 0.50% | 1.90% | 4.40% | 2.75% | 0.40% | 2.75% | 4.25% | 4.50% |
2 years to less than 3 years | 0.50% | 1.45% | 4.20% | 2.50% | 0.40% | 2.25% | 4.25% | 4.00% |
3 years to less than 4 years | 0.50% | 0.50% | 3.75% | 2.25% | 0.40% | 2.00% | 3.65% | 4.00% |
4 years to less than 5 years | 0.50% | 0.50% | 3.45% | 2.25% | 0.30% | 1.75% | 3.50% | 3.75% |
5 years | 0.50% | 0.50% | 3.35% | 2.25% | 0.30% | 1.70% | 3.30% | 3.75% |
Note: YES Bank FCNR interest rates are effective from 5 October 2026.
RBL Bank FCNR Rates
RBL Bank offers FCNR accounts in all major currencies. The interest earned on these FCNR deposits are paid on a half-yearly basis and deposits is renewed automatically. They offer a high yielding rate on US dollar deposits, which is 4.10% p.a.
Period (p.a.) | USD | GBP | EUR | AUD | SGD | JPY | CAD | CHF |
1 year and above but less than 2 years | 4.10% | 4.00% | 3.00% | 3.50% | 2.00% | 0.05% | 2.75% | 0.05% |
2 year and above but less than 3 years | 3.50% | 4.20% | 2.50% | 3.50% | 1.50% | 0.05% | 2.50% | 0.05% |
3 year and above but less than 4 years | 3.50% | 4.00% | 2.50% | 2.85% | 0.80% | 0.06% | 2.25% | 0.05% |
4 year and above but less than 5 years | 3.75% | 3.00% | 2.00% | 2.75% | 0.80% | 0.06% | 2.00% | 0.05% |
5 years | 3.75% | 3.00% | 2.00% | 2.60% | 0.80% | 0.06% | 2.00% | 0.05% |
Note: RBL Bank FCNR interest rates are effective from 1 September 2026.
IDBI Bank FCNR Rates
IDBI is a well-reputed bank that offers FCNR facilities in major foreign currencies. Their USD deposits pay 3.15% p.a. for five years, and GBP deposits pay 2.50% p.a.
MATURITY SLAB (p.a.) | USD up to 1 million | GBP | EUR | AUD | CAD | JPY* | SGD | HKD | CHF |
1 year to less than 2 years | 4.55% | 4.00% | 2.65% | 3.55% | 2.85% | 0.40% | 1.75% | 0.50% | NA |
2 years to less than 3 years | 3.70% | 3.15% | 1.95% | 2.55% | 2.05% | NA | 1.00% | 0.50% | NA |
3 years to less than 4 years | 3.25% | 2.55% | 1.70% | 2.05% | 1.75% | NA | 0.60% | 0.50% | NA |
4 years to less than 5 years | 3.15% | 2.50% | 1.50% | 1.95% | 1.75% | NA | 0.45% | 0.50% | NA |
5 years only | 3.15% | 2.50% | 1.50% | 1.80% | 1.75% | NA | 0.45% | 0.50% | NA |
Note: IDBI Bank FCNR interest rates are effective from 1 October 2026.
DCB Bank FCNR Rates
DCB Bank provides a range of flexible deposit options for NRIs. At present they are offering the highest interest on US, GBP, Australian and Canadian dollar currency deposits.
The interest rates offered on FCNR fixed deposits are mentioned in the table below:
Tenure Amount (p.a.) | USD Less than 3,00,000 | USD 3,00,000 and above | GBP Less than 2,00,000 | GBP 2,00,000 and above | EUR Less than 2,50,000 | EUR 2,50,000 and above | AUD Less than 4,00,000 | AUD 4,00,000 and above | CAD Less than 4,00,000 | CAD 4,00,000 and above |
1 year to less than 2 years | 4.40% | 4.40% | 4.55% | 4.55% | 3.15% | 3.15% | 5.05% | 5.05% | 2.85% | 2.85% |
2 years to less than 3 years | 4.80% | 4.80% | 5.00% | 5.00% | 3.35% | 3.35% | 5.20% | 5.20% | 3.20% | 3.20% |
3 years to less than 4 years | 4.85% | 4.85% | 4.90% | 4.90% | 3.25% | 3.25% | 5.15% | 5.15% | 3.35% | 3.35% |
4 years to less than 5 years | 4.80% | 4.80% | 4.90% | 4.90% | 3.15% | 3.15% | 5.15% | 5.15% | 3.30% | 3.30% |
5 years only | 4.75% | 4.75% | 4.90% | 4.90% | 3.10% | 3.10% | 5.05% | 5.05% | 3.30% | 3.30% |
Note: DCB Bank FCNR interest rates are effective from 15 October 2026.
Summary
FCNR deposit interest rates differ by bank, currency and tenure, so compare the rate tables above before you book an FCNR(B) deposit. An FCNR(B) account lets NRIs hold a foreign currency fixed deposit with principal and interest fully repatriable under FEMA, 1999. Check the bank's official rate page for the current FCNR rate before you open the deposit.
FAQs on FCNR Rates
1.What is an FCNR(B) account?
An FCNR(B) account is a fixed deposit that Non-Resident Indians hold in a foreign currency. Both the principal and the interest are fully repatriable under FEMA, 1999, which is why FCNR rates are quoted currency by currency.
2.Who can open an FCNR account?
Non-Resident Indians (NRIs) can open an FCNR account. An FCNR deposit can also be held jointly by two or more NRIs or Persons of Indian Origin (PIOs).
3.Which currencies can I hold in an FCNR deposit?
An FCNR deposit can be held in permitted foreign currencies, and each bank accepts its own set of them. The FCNR rates tables above list the currencies available at each bank.
4.Is investing in FCNR a good decision?
Investing in FCNR can suit NRIs who want a foreign currency fixed deposit with fully repatriable principal and interest. FCNR deposits work like other term deposits, so they suit long-term savings rather than short-term needs.
5.Are FCNR deposits taxable?
Interest on an FCNR deposit is exempt from tax in India while the account holder is a non-resident or a resident but not ordinarily resident. Tax rules in your country of residence may differ.
6.Which bank in India gives the best FCNR rates?
The bank with the best FCNR rates depends on the currency and tenure you choose, because every bank sets its own FCNR rates for each currency. The FCNR rates tables above let you compare banks for the same currency and tenure. Banks revise FCNR rates from time to time, so check the bank's official rate page before booking.
7.What is the maximum tenure of opening an FCNR account?
The maximum tenure of an FCNR account is five years. FCNR deposits run for a minimum of one year, and the FCNR rates tables above list the rate for each tenure from one to five years.
8.What's the tenure for an Indian Overseas Bank FCNR?
An Indian Overseas Bank FCNR deposit can be made for a tenure of one to five years.
9.Is it possible to transfer money to FCNR from my NRE account?
Yes, you can transfer money from your NRE account to an FCNR account. Check the transfer process and the applicable terms with your bank.
10.Is there a maximum limit to the amount in an FCNR account?
No, there is no maximum limit on the amount you can deposit in an FCNR account. Banks may, however, offer different FCNR rates for different deposit slabs.
11.Any penalty for early withdrawal from a Yes Bank FCNR?
No interest is paid on a Yes Bank FCNR deposit that is withdrawn before it completes one year. After one year, premature withdrawal is subject to the bank's terms, and interest is paid at the rate that applied for the period the deposit stayed with the bank.
12.Can I get a loan against my FCNR account?
A bank may offer a loan against your FCNR deposit, subject to its own terms and RBI rules. Check the eligibility and loan terms with your bank before you apply.
13.How often do FCNR rates change?
Banks revise FCNR rates from time to time, and some do so on the 1st of every month in line with RBI guidelines. Each table above shows the date from which that bank's rates apply, so check the bank's official rate page before booking.
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