Money won’t grow in your mattress.
It will grow in a Fixed Deposit!
  • loading

    FCNR Fixed Deposit

    We found 111 FCNR Fixed Deposit

    Institution Name
    Deposit Amount Range
    Tenure Range
    Interest Rate
    Up to ₹25L
    1 Year to 5 Years
    7.49% - 8.19% Monthly compounding
    Response Time Within 30 minutes
    Features
    Documents
    Good to Know
    Up to ₹25L
    1 Year to 5 Years
    7.75% - 8.5% Monthly compounding
    Response Time Within 30 minutes
    Features
    Highlights
    Documents
    Good to Know
    Up to ₹1Cr
    7 Days to 20 Years
    5% - 8.15% Quarterly compounding
    Response Time Within 30 minutes
    Features
    Highlights
    Documents
    Good to Know
    Up to ₹1Cr
    7 Days to 10 Years
    4% - 7.5% Quarterly compounding
    Response Time Within 30 minutes
    Features
    Highlights
    Documents
    Good to Know
    Up to ₹1Cr
    7 Days to 10 Years
    4.25% - 7.35% Monthly compounding
    Response Time Within 30 minutes
    Features
    Documents
    Good to Know
    Up to ₹1Cr
    15 Days to 20 Years
    4.25% - 6.9% Monthly compounding
    Response Time Within 30 minutes
    Features
    Documents
    Good to Know
    Up to ₹1Cr
    7 Days to 10 Years
    4% - 7% Monthly compounding
    Response Time Within 30 minutes
    Features
    Highlights
    Documents
    Good to Know
    NRI - FD
    Up to ₹1Cr
    1 Year to 5 Years
    6.5% - 7.10% Monthly compounding
    Response Time Within 30 minutes
    Features
    Documents
    Good to Know
    NRI - FD
    Up to ₹1Cr
    1 Year to 10 Years
    6% - 6.4% Monthly compounding
    Response Time Within 30 minutes
    Features
    Highlights
    Documents
    Good to Know
    NRI - FD
    Up to ₹1Cr
    1 Year onwards
    6.25% - 6.5% Monthly compounding
    Response Time Within 30 minutes
    Features
    Highlights
    Documents
    Good to Know
    Up to ₹1Cr
    7 Days to 10 Years
    4% - 7.35% Quarterly compounding
    Response Time Within 30 minutes
    Features
    Highlights
    Documents
    Good to Know
    NRI - FD
    Up to ₹1Cr
    1 Year to 5 Years
    6.85% Quarterly compounding
    Response Time Within 30 minutes
    Features
    Highlights
    Documents
    Good to Know
     Loading your search... Loading your search...
  • FCNR Fixed Deposit Reviews

    • SBI Fixed Deposit
      "Convenient to Hold"
      0.5 4.0/5 "Great!"
      It has been two years when I opened fixed deposit with State bank of India. The period is for five years. Since I completed two years, three years to go. Interest rate is of 11%. Actually SBI is located near to my house so I feel more comfortable in visiting the bank at any instance. All the staffs are very friendly and very cooperative.
      Was this review helpful? 0
      , visakhapatnam
      Reviewed on May 25, 2017
    • SBI Fixed Deposit
      "Secured investment"
      0.5 5.0/5 "Blown Away!"
      Compared to other banks SBI offering good interest rate on fixed deposit, they offered me 7.95% of interest. I have the amount of Rs. 2.4 lakhs for the tenure of three years. After the maturity period I got the amount around 2.9 lakhs. I am very much fine with that.
      Was this review helpful? 0
      , hyderabad
      Reviewed on May 24, 2017
    • Karur Vysya Bank Fixed Deposit
      "Good"
      0.5 3.5/5 "Pretty good"
      I am having the fixed deposit account with the Karur Vysya bank and the account got opened within one to two days of time. Tenure is for five years of time and after that it will be get matured. Rate of interest was around 8.5% to 9% on that time with the tax redemption.
      Was this review helpful? 0
      , hyderabad
      Reviewed on May 23, 2017
    • Karnataka Bank Fixed Deposit
      "Good Bank"
      0.5 5.0/5 "Blown Away!"
      I have an account for fixed deposit only with Karnataka bank. I have deposited around fifty five lakhs. I bank with Karnataka for more than twenty years, even my family members are having an account with the same bank. Their services are really good.
      Was this review helpful? 0
      , chennai
      Reviewed on May 22, 2017
    • ICICI Bank Fixed Deposit
      "Good one"
      0.5 3.5/5 "Pretty good"
      I have fixed deposit account with the ICICI bank and I got it from them because I had the salary account with them. Within two days of time fixed deposit account got opened and the maturity period is around one year of time. Interest rate is around 8% with them and am not that much happy with that. I would like to suggest that they can increase the rate of interest for the deposits.
      Was this review helpful? 0
      , hyderabad
      Reviewed on May 18, 2017
    • SBI Fixed Deposit
      "Too much of process involved"
      0.5 2.5/5 "Just OK"
      At other private bank a fixed deposit could be opened online and a customer does not have to visit the bank. In my case I had to visit State bank of India to open a fixed deposit and it has a lot of process involved. Like wise to close the same it is the same scenario.
      Was this review helpful? 3
      , pune
      Reviewed on May 10, 2017
    • SBI Fixed Deposit
      "Good "
      0.5 5.0/5 "Blown Away!"
      I am having fixed deposit account with the State bank of India and the interest rate is around 6.2% for the tenure of five years of time. I have opened this account through online, so it got happened very immediately. Charges are nil with them and I can get the money withdrawal in fraction of seconds.
      Was this review helpful? 4
      , pondicherry
      Reviewed on May 09, 2017
    • SBI Fixed Deposit
      "Good Service"
      0.5 5.0/5 "Blown Away!"
      Long back I had Fixed deposit account with State bank of India. I selected the tenure period for six years. The bank had fixed a good rate of interest. At last I received the money with the promised interest amount. I am much satisfied with SBI for the FD service.
      Was this review helpful? 3
      , hyderabad
      Reviewed on May 09, 2017
    • Bank of Baroda Fixed Deposit
      "Good Service"
      0.5 5.0/5 "Blown Away!"
      I had Fixed Deposit account with Bank of Baroda about quite long back. The tenure period is six years and the fixed amount is four to five lakhs. The percentage of interest rate is quite good and they returned the money back with the promised interest amount.
      Was this review helpful? 1
      , hyderabad
      Reviewed on May 09, 2017
    • ICICI Bank Fixed Deposit
      "Average "
      0.5 2.0/5 "Expected more"
      I have withdrawn my fixed deposit account with the ICICI bank and the interest rate was around 7%. It took around one to two hours of time to open the account through online. There are no charges while withdrawing the amount , also it took around one month of time to get it.
      Was this review helpful? 1
      , pudukkottai
      Reviewed on May 08, 2017
    • IDBI Fixed Deposit
      "Very Responsive"
      0.5 4.0/5 "Great!"
      I deposited some amount with IDBI bank as a fixed deposit. Actually I deposited this amount for future savings also I will be getting some good interest rate at the end of the year. I got good support from the bank executives and they provided all the information regarding FD.
      Was this review helpful? 1
      , indore
      Reviewed on May 04, 2017
    • YES Bank Fixed Deposit
      "Good Service"
      0.5 3.0/5 "Satisfactory"
      Yes bank have some banking issues with them I believe. I have savings account, recurring and fixed deposit account with them. I never received quick response from the bank. But the bank is good for my fixed deposit account. Simply I opened an account with them and getting better service on it.
      Was this review helpful? 1
      , indore
      Reviewed on May 04, 2017
    • Kotak Fixed Deposit
      "Good Service"
      0.5 3.0/5 "Satisfactory"
      I have savings account with Kotak Mahindra bank. Even I have fixed deposit account as well. The period of FD is for one year. The bank is assigned relationship manager for me as I have so many accounts with them. I got good response from them for my FD. 1 years, 1years, relationship manager
      Was this review helpful? 0
      , indore
      Reviewed on May 04, 2017
    • SBI Fixed Deposit
      "Satisfactory Service"
      0.5 5.0/5 "Blown Away!"
      Even I have fixed deposit with State bank of India. The tenure period is one year. I deposit certain amount with them as their interest rate is good and incomparable. SBI gives good response to the people and they are very supportive as well. I have no issues with SBI.
      Was this review helpful? 0
      , indore
      Reviewed on May 04, 2017
    • Punjab National Bank Fixed Deposit
      "Good Service"
      0.5 5.0/5 "Blown Away!"
      I had invested in fixed deposit with Punjab National Bank. I have deposited ceratin amount on my account. I got good response from the bank when I opened FD. The bank was so supportive and they provided all the information regarding FD. The interest rates too are pretty attractive.
      Was this review helpful? 0
      , indore
      Reviewed on May 04, 2017
    • SBI Fixed Deposit
      "Average "
      0.5 1.0/5 "Really Bad"
      I had invested in fixed deposit with the State bank of India and the interest rate is very less like its around 7.15%, also the returns are also very less, which will be also applicable with the tax. Services provided by them is really not good and I would like to suggest that they need to provide the customer service in a much better way.
      Was this review helpful? 2
      , bhopal
      Reviewed on May 03, 2017
    • SBI Fixed Deposit
      "Fantastic"
      0.5 5.0/5 "Blown Away!"
      In terms of interest rate and everything State Bank of India is fine to have the fixed deposit and the service aspects are working fine with them. I am having this account from the last six to seven years of time and the response is always very good with the State Bank of India.
      Was this review helpful? 2
      , mundra
      Reviewed on May 03, 2017
    • HDFC Bank Fixed Deposit
      "Excellent to Excellent"
      0.5 5.0/5 "Blown Away!"
      I do have the fixed deposit account with the HDFC bank and the interest rate is differed according to the offers. All of my deposits will be taken care by my relationship manager. Total tenure is around five years of time and its a kind of small deposits. Net banking services are an excellent one with them.
      Was this review helpful? 2
      , bangalore
      Reviewed on Apr 26, 2017
    • Punjab National Bank Fixed Deposit
      "Customer service should be good and unique for everyone"
      0.5 4.0/5 "Great!"
      I do have fixed deposit account with the Fixed deposit and they have provided around 8.5% as interest rate. Services are perfect one for me and I do have good relationship with them because my relatives are working there. Net banking services are also working good and they are started to exhibit most of the services there.
      Was this review helpful? 1
      , ghaziabad
      Reviewed on Apr 26, 2017
    • Axis Bank Fixed Deposit
      "Excellent"
      0.5 5.0/5 "Blown Away!"
      I had invested in fixed deposit account with the Axis bank and the minimum tenure is around five years of time. Response is a good one with them and everything was done through online. Net banking services are working in an excellent way and it is really wonderful.
      Was this review helpful? 1
      , kolkata
      Reviewed on Apr 25, 2017
    Common Loader Icon

    FCNR Fixed Deposit is Rated as "Excellent!" by 1739 Users

    Fees & Charges

    Promised Interest Rate

    Customer Service

    Responsiveness

    Fixed Deposit BYTES FROM OUR KITCHEN

    Can an NRI invest in a fixed deposit with foreign exchange in a Foreign Currency Non-Resident Account (FCNR)?

    A Non-Resident Indian(NRI) or Person of Indian Origin(PIO) can invest and maintain a term deposit in foreign currency in an account called FCNR (Foreign Currency Non-Resident Account), they can also earn interest from this term deposit. There are few foreign currencies that are accepted to be used in these accounts they are:

    • Euro
    • British Pound
    • US Dollar
    • Australian Dollar
    • Japanese Yen
    • Canadian Dollar

    These accounts are not savings accounts but are fixed deposits accounts.

    Benefits of a FCNR in a nutshell

    • One of the biggest benefits of this kind of deposit is that, the account is maintained in foreign currency, therefore it eliminates the constant fluctuating currency conversion rates.
    • The maturity term of these deposits should be for a minimum of 1 year and up to 5 years.
    • The interest rates earned on these deposits are regulated by the RBI, and are the same in all banks across the country. But the rates of interest are generally higher, than investing in the countries wherein the NRI is residing. The general rate of interest are mentioned below:
      • USD, GBP and CAD for a term of 1 year but less than 2 years the interest rate ranges from 1.30% - 1.52%; For a term of 2 years to less than 3 years ranges from 1.71% - 2.06%; For a term of 3 years to less than 4 years ranges from 1.83% - 2.27%; For a term of 4 years to less than 5 years ranges from 1.96% - 2.46%; For a term of 5 years the interest ranges from 2.12% - 2.62%
      • But for EURO and JPY for a term of 1 year but less than 2 years the interest rate ranges from 0.80% - 0.89%; For a term of 2 years to less than 3 years ranges from 1.10% - 1.14%; For a term of 3 years to less than 4 years ranges from 1.16% - 1.20%; For a term of 4 years to less than 5 years ranges from 1.19% - 1.96%; For a term of 5 years the interest ranges from 1.24% - 1.43%
      • For the AUD the rate of interest offered is the highest for a term of 1 year but less than 2 years the interest rate is 2.72%; For a term of 2 years to less than 3 years is 2.97%; For a term of 3 years to less than 4 years ranges is 3.06%; For a term of 4 years to less than 5 years is 3.31%; For a term of 5 years the interest is 3.46%
    • The interest earned on these deposits are tax free in India and are fully repatriable.

    How does an NRI or PIO transfer funds to an FCNR account?

    In an FCNR account held by an NRI or PIO funds will need to come from their overseas held funds. The many ways in which they can fund the account is:

    • The PIO or NRI can transfer from their overseas account to their FCNR account. This can be done via wire transfer, cheque transaction, or online banking.
    • Funds can be transferred from an existing NRE account.
    • When an NRI or PIO visits the country, they can use their foreign currency notes or travelers cheques to fund the FCNR account.

    What are the features of an FCNR?

    • FCNR (Foreign Currency Non-Resident) account can be only be opened by a PIO or NRI.
    • As the name stated Foreign Currency Non-Resident that account can only be opened with foreign currencies, eliminating the risk of fluctuating conversion rates.
    • There is a regular interest that's paid on the FCNR account, the interest rate is controlled by the RBI and is the same across all banks.
    • The FCNR is not a savings account but is a term deposit, and therefore the term should have a minimum maturity of 1 year and should be less than 5 years.
    • An NRI or PIO can jointly open the FCNR account with a Resident Indian as a joint account.
    • This account also has a nomination facility, the nominee can be any NRI, PIO or Resident Indian.
    • The NRI or PIO can even apply for a loan facility against the FCNR, but these loans can't be used for real-estate, agricultural activities, or re-lending
    • The currency available in the account can be changed to another currency, but the cost is to be taken by the account holder.
    • The interest earned on these accounts are completely tax free and so is the principal, although these accounts are subject to wealth tax, the interest earned.

    Can funds be withdrawn before the FCNR deposit has matured?

    Yes, a withdrawal is allowed before the FCNR term has matured at the discretion of the bank, but there is a penalty charge levied for the withdrawal. The penalty charges for premature withdrawal is an interest of 1 %. But if the deposit in closed within the year on opening, then there’s no interest paid for the period of the term deposit.

    FCNR term deposits rates (effective from August 2015)

    As per the SBI website the below rates of interests are:

    Tenure

    GBP

    USD

    Euro

    JPY

    AUD

    CAD

    1 Yr to < 2 Yrs

    1.76%

    1.59%

    1.06%

    1.15%

    3.08%

    1.85%

    2 Yrs to < 3 Yrs

    2.16%

    1.97%

    1.10%

    1.15%

    3.10%

    1.79%

    3 Yrs to < 4 Yrs

    2.43%

    2.31%

    1.20%

    1.16%

    3.20%

    1.93%

    4 Yrs to < 5 Yrs

    2.62%

    2.56%

    1.29%

    1.20%

    3.45%

    2.09%

    5 Yrs only

    2.74%

    2.77%

    1.42%

    1.25%

    3.60%

    2.25%

    News About FCNR Fixed Deposit

    • FCNR-B to be low this year

      Banks who were offered a swap facility from the RBI to attract foreign currency non-resident (FCNR-B) scheme in September 2013 will not get a similar facility if they decide to rollover the deposits when these mature later this year.

      RBI governor Raghuram Rajan the country had attracted around $32 billion of deposits with two maturities over a period of about two months. There could be an impact on either liquidity or the forex markets. However RBI is prepared for such a change.

      12th April 2016

  • reTH65gcmBgCJ7k
    This Page is BLOCKED as it is using Iframes.