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

    We found 112 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% 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% - 7.15% 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% - 6.65% 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

    • HDFC Bank Fixed Deposit
      "Best"
      0.5 4.0/5 "Great!"
      I do have fixed deposit account with the HDFC bank and the interest rate is common one with every bank like it used to get varied up to 0.5% . Penalty charges are nil with them for the premature withdraw, which is the really good one.
      Was this review helpful? 1
      , chennai
      Reviewed on Jun 22, 2017
    • SBI Fixed Deposit
      "Good Service"
      0.5 4.0/5 "Great!"
      When I have started to deposit the money I was getting good interest rate but know the rate of interest is decreased with SBI Fixed deposit. I have started the fixed deposit around 6 years ago with SBI. Initially I got around 9.5% as interest rate but now I am getting only 7.5% interest rate. The service with State is good.
      Was this review helpful? 1
      , bangalore
      Reviewed on Jun 22, 2017
    • Canara Bank Fixed Deposit
      "Good"
      0.5 2.5/5 "Just OK"
      I am having the fixed deposit account with the Canara bank and the rate of interest is around 8.5%, which was very lesser one on that time. Total tenure is around three years of time, also the penalty charges are not really huge. Customer service is not really up to the mark.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Jun 20, 2017
    • IDBI Fixed Deposit
      "Good experience"
      0.5 5.0/5 "Blown Away!"
      I would suggest IDBI bank is the best one to get the fixed because of the good rate of interest . Customer service is good one and am with them from the last three years of time. Penalty charges are lesser one with the m for the premature withdraw.
      Was this review helpful? 1
      , bangalore
      Reviewed on Jun 19, 2017
    • ICICI Bank Fixed Deposit
      "Good Indian bank"
      0.5 4.0/5 "Great!"
      I do have fixed deposit account with the ICICI bank and the interest rate is around 6.5% per annum , also the maturity period is also one year of time. Customer service is also a good one with the ICICI bank, also the response too. Online banking services are also working in good way and am very familiar with them till now.
      Was this review helpful? 2
      , bangalore
      Reviewed on Jun 16, 2017
    • Axis Bank Fixed Deposit
      "Its good investment"
      0.5 4.5/5 "Excellent!"
      I have invested one lakh in fixed deposit with AXIS bank. Its going to matured in this august, Then I would be getting around Rs.1.12,000. I have opened this FD through online and I will be getting the amount same to my account. AXIS gave me premature withdrawal, I can close whenever I want.
      Was this review helpful? 0
      , mumbai
      Reviewed on Jun 13, 2017
    • Canara Bank Fixed Deposit
      "For common man"
      0.5 5.0/5 "Blown Away!"
      I do have the fixed deposit account with the Canara bank and am using it from the last ten years of time. Customer service aspects are good one with them and the online banking services are not really working in a good according the new generation bankers. The interest rate is around 7.25% as of now.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jun 12, 2017
    • YES Bank Fixed Deposit
      "Wonderful "
      0.5 5.0/5 "Blown Away!"
      I have the fixed deposit account with the Yes bank and the interest rate is around 6.5% above and the customer service is not yet experienced because everything used to dealt with through online experience. I have not faced any server down issues with the Yes bank.
      Was this review helpful? 1
      , ghaziabad
      Reviewed on Jun 12, 2017
    • HDFC Bank Fixed Deposit
      "Excellent "
      0.5 5.0/5 "Blown Away!"
      I am having the fixed deposit account with the HDFC bank and the services are always an excellent one. I have opened the account on immediate basis like everything used to get happened in instant way. Rate of interest is around 6.5% and the response is an excellent one.
      Was this review helpful? 0
      , mumbai
      Reviewed on Jun 09, 2017
    • Vijaya Bank Fixed Deposit
      "Excellent "
      0.5 5.0/5 "Blown Away!"
      I am having the fixed deposit account with the Vijaya bank and the interest rate is around 6.5% and the customer service is good one , also they are nearby my locality and also the access is really friendly. Online services are good one with the Vijaya bank.
      Was this review helpful? 1
      , mumbai
      Reviewed on Jun 09, 2017
    • Central Bank of India Fixed Deposit
      "Fund transfer"
      0.5 0.5/5 "Unacceptable"
      The worst banking system I have ever seen. if i want to transfer amt to other bank through IFSC they can't detect the bank or automatically logged out .if I want current statement they can't.net banking automatically logged out.if i go for pass book entry server down problem. if I go to ATM only 2k available etc...
      Was this review helpful? 2
      , kolkata
      Reviewed on Jun 01, 2017
    • SBI Fixed Deposit
      "Very good in services"
      0.5 5.0/5 "Blown Away!"
      When I wanted to open a fixed deposit account at State Bank of India. I did not have to visit the bank. I opened the account online and though the rate of interest is not that appealing. I am happy with the overall experience and process and the convenient banking process.
      Was this review helpful? 8
      , guwahati
      Reviewed on May 31, 2017
    • 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? 5
      , 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? 4
      , 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? 1
      , 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? 1
      , 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? 6
      , 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? 5
      , 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? 4
      , hyderabad
      Reviewed on May 09, 2017
    Common Loader Icon

    FCNR Fixed Deposit is Rated as "Excellent!" by 1751 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.